So you have watched 10 episode of Flip This House on HGTV and you have decided to become a flip king as well! Here are some basic guidelines to estimate Fixer Upper Repair that you can use to determine your initial decision to consider a home for a flip:
Roof: Does the home need major roof repair!? Allocate $6,000 for Small (Single) Roof and $9,000 for Full Roof. If you have to remove multiple layers of shinglaes installed, you need to add $2k for labor and dump costs.
Exterior Siding: Single Family Home with 1,500 sqft would cost you $2,500. Increase this estimate depending on the size of the property.
Windows: If the project calls for Windows to be replaced, it would be safe to allocate $300 for each window. We strongly recommend Anderson Windows is a wonderful alternative to Vinyel Windows if you have a fixer upper flip in a high end neighborhood. If you will need larger French or Sliding Doors allocate $800 per door.
Landscaping: Allocate $1500-2,000 for front and back yard landscaping of your Fixer Upper, but schedule it after all the remodeling work has been completed.
Plumbing: Pluming repairs in a Fixer Upper could add up to major costs depending on the repairs. It’s safe to budget $3,500 per floor for small batrhroom remodels. Also allocate $500 for a small kitchen remodel for the pluming.
Heating/Cooling: Hot water heaters are around $800 installed and its smart to allocate $1500-$3,000 to AC units depending on the size of your fixer upper home.
Electrical: Adding recessed lights gives a home a much more modern feel and is not that expensive with each can costing less than $10 depending on the style and trim you choose. If you have to change the panel, then allocate another $1,000 for the panel.
Foundation: Foundation repairs in a Fixer Upper could be critical cause any problems in the foundation could lead to cracked sheet rock in walls and ceiling.
Flooring: Every major fixer upper will require flooring which is not that expensive these days. Allocate $2-$5 dollar for each sqft of flooring that you have to repair. This estimate include both labor and material. Some of the pre-finished Engineered wood floors are wonderful and can save tons of time and money from staining the raw wood multiple times.
Garage Door: Garage door goes to the 1st impression that a remodeled fixer upper creates. So, it’s wise to update the garage door for about $1,000 depending on the impression you want to make. If you are working on a higher end Fixer Upper, then you need to allocate 2-3k for this item in your budget.