How to use this calculator
Walk through the checklist and check each item you plan to renovate. For each selected item, choose a cost tier (low, mid, high) based on the finish quality you want, or enter a custom amount if you already have a quote.
Always include a contingency buffer. The industry standard is 10% to 20% above your base estimate. Older properties and gut renovations should use the higher end. The calculator adds this automatically to your total.
Frequently asked questions
How do I estimate rehab costs?
Start with a checklist walkthrough. Get rough estimates per item, add 10% to 20% contingency, then get contractor bids for major work. Online tools provide ballpark figures, but local costs vary.
What is a good cost per square foot for renovation?
Light cosmetic updates: $15 to $40/sq ft. Mid range rehabs: $40 to $75/sq ft. Gut renovations: $100 to $200+/sq ft depending on market and finishes.
What are the biggest budget busters?
Hidden water damage, structural issues, outdated electrical or plumbing needing full replacement, unexpected permit requirements, and scope creep during the project.
Should I get contractor bids first?
Yes for major items like roofing, HVAC, and electrical. Get at least three bids. For smaller items, preset ranges are usually close enough for initial budgeting.