property calculator

Rehab Budget & Renovation Estimator

Itemize construction renovation budgets, material grade choices, and contingency buffers to plan rehab costs for property flipping projects.

Formula Verified by Dr. Thomas Wright, PhD

Quick actions: Save inputs, view saved runs, print, share, or export results

Saved Runs

Inputs

Property Size & Finish Grades

Property size (sq ft) sqft

Interior finish grade

Kitchen finish grade

Exterior & Bathrooms

Siding cost per sq ft ($)$

Roofing cost per sq ft ($)$

Number of bathrooms

Bathroom finish grade

Contingency buffer (%)%

Mechanical System Upgrades

Replace HVAC system?

Upgrade electrical panel?

Re-pipe plumbing?

Results

Total Rehab Budget

$166,100

Cost Per Square Foot$83/sqft

Subtotal Construction Cost$151,000

Contingency Reserve Amount$15,100

Base Interior Cost$90,000

Kitchen Upgrade Cost$12,000

Baths Upgrade Cost$12,000

Mechanical Systems Cost$11,000

Exterior Siding & Roof Cost$26,000

Tip

Save this calculator to build renovation estimates and negotiate bids with general contractors.

Formula

Rehab Sizing Formulas

Subtotal = Interior Base + Kitchen + Baths + Exterior + Mechanicals. Total Budget = Subtotal × (1 + Contingency%).

Sizes renovation bids based on standard material costs and contingency allowances.

Step by step

How the calculation works

1Input your property square footage and select the general interior finish grade.
2Provide exterior siding and roofing costs per square foot (or use defaults).
3Specify kitchen count, bathroom count, and their respective remodel quality grades.
4Select the mechanical upgrades required (HVAC, electrical, plumbing) and add a contingency buffer percentage.

Related guides

Learn more about this calculation

Guide

House Flipping Guide: How to Calculate ARV, 70% Rule, and Profit Margin

Underwrite house flips with professional precision. Learn how to calculate after-repair value (ARV), maximum allowable offer (MAO), repair contingency, and financing drag.

Site Guide

How to Use Do The Calculation Calculators: A Practical Step-by-Step Guide

Learn the fastest reliable workflow for using Do The Calculation calculators, reading results, checking formulas, and using save, print, share, and export actions correctly.

Rent vs. Buy Guide

Renting vs. Buying: A Comprehensive Comparison

Learn the financial differences between rental ownership costs and standard renting options over multi-year horizons.

Inputs

Property Size & Finish Grades

Property size (sq ft) sqft

Interior finish grade

Kitchen finish grade

Exterior & Bathrooms

Siding cost per sq ft ($)$

Roofing cost per sq ft ($)$

Number of bathrooms

Bathroom finish grade

Contingency buffer (%)%

Mechanical System Upgrades

Replace HVAC system?

Upgrade electrical panel?

Re-pipe plumbing?

Rehab Cost Allocation

Visualize the breakdown of your renovation budget by category.

Interior Base$90,000

Kitchen & Baths$24,000

HVAC, Electrical & Plumbing$11,000

Roof & Siding$26,000

Contingency$15,100

How to understand and use this calculator

Building a Property Rehab Budget

Underwriting a property flip requires a detailed construction budget. Renovation errors can quickly eliminate profit margins.

rehab estimates typically combine square-footage base rates with specific project additions:

1. Base Interior Rehab: Cost to paint, install flooring, trim, drywall repairs, and light fixtures, calculated by square footage and finish grade (Economy, Mid-Range, or High-End).

2. Kitchen Bath Upgrades: Major wet area renovations requiring plumbing, cabinetry, and tile work.

3. Mechanicals Envelope: Structural systems like roofs, siding, HVAC, electrical panels, and plumbing mainlines.

4. Contingency Buffer: A reserve fund (typically 10% to 20% of the subtotal) to cover unexpected repairs (mold, structural issues) found during demolition.

Total Rehab Budget = Subtotal Costs × (1 + (Contingency %)/100)

How to Use This Calculator

Enter the property's total square footage and select an interior finish grade (Economy, Mid-Range, or High-End) — this sets the base per-square-foot cosmetic rehab rate. Add siding and roofing costs per square foot, the number of bathrooms and their finish grade, and a kitchen finish grade.

Toggle whether the project needs a full HVAC replacement, an electrical panel upgrade, or a plumbing re-pipe, then set a contingency percentage (typically 10% to 20%) to buffer against issues found during demolition. The calculator sums every line item into a subtotal, applies the contingency, and returns the total rehab budget and cost per square foot.

Worked Example: Rehabbing a 2,000 Sq Ft Flip

A flipper buys a 2,000 sq ft house needing a mid-range renovation. At the mid-range interior rate of $45/sqft, the base interior cost is $90,000. Siding at $5/sqft and roofing at $8/sqft add $10,000 and $16,000. A mid-range kitchen adds $12,000, and two mid-range bathrooms add $12,000 more ($6,000 each). The project also needs a new HVAC system ($6,500) and an electrical panel upgrade ($4,500), but the plumbing is left as-is.

Adding these line items together gives a construction subtotal of $151,000 ($90,000 + $10,000 + $16,000 + $12,000 + $12,000 + $6,500 + $4,500). With a 10% contingency reserve ($15,100), the total rehab budget comes to $166,100 — about $83 per square foot. That per-square-foot figure is what the investor plugs into a 70% rule check (House Flipping Calculator) or an offer negotiation against the property's After Repair Value.

Related Calculators

Feed this rehab budget into the House Flipping Calculator to see projected profit and the Maximum Allowable Offer under the 70% rule, or into the BRRRR Calculator if you plan to refinance and hold the property as a rental instead of selling it. Once the flip is complete, estimate transaction costs with the Closing Cost Estimator. For a quicker MAO-only check without the full line-item breakdown, use the After Repair Value Calculator.

Related concepts

70% Rule in Real Estate

A screening formula used to estimate the maximum purchase price for a profitable flip.

Scope of Work (SOW)

A detailed construction document outlining all materials, labor, permits, and schedules for the renovation.

Capital Improvement

Any permanent structure addition or property renovation that increases the asset's value and extends its useful life.

Frequently Asked Questions

How do you calculate a property rehab budget?+

Combine square footage base rates for general cosmetic work with specific itemized costs for major systems (roof, HVAC, kitchen, baths) and add a 10% to 20% contingency buffer.

What is a typical cost per square foot for a home renovation?+

Cosmetic renovations range from $15 to $35 per square foot. Mid-range renovations (updating kitchens/baths) cost $40 to $75 per square foot. High-end custom renovations can exceed $100 to $150 per square foot.

Why is a contingency buffer necessary in house flipping?+

Distressed properties often have hidden issues (mold, water damage, outdated wiring) that are only discovered during demolition. A 10% to 20% contingency ensures you have the budget to cover these costs.

How much does it cost to remodel a kitchen?+

An economy kitchen remodel costs $5,000 to $8,000. A mid-range remodel (semi-custom cabinets, granite counters) costs $12,000 to $20,000. A high-end kitchen remodel easily exceeds $30,000 to $50,000.

Should I replace the HVAC system when flipping a house?+

If the system is over 12 to 15 years old, replacing it reduces buyer objections and increases appraisal value. Newer systems are also more energy-efficient.

What is the 70 percent rule in house flipping?+

The 70% rule suggests you should pay no more than 70% of the property's After Repair Value (ARV) minus estimated rehab costs. Maximum Purchase Price = (ARV * 0.70) - Rehab Cost.

How do permit fees affect the rehab budget?+

Permits and inspection fees typically add $500 to $3,000 to the budget, depending on local municipal rules and the scope of structural work.

What is cosmetic vs structural rehab?+

Cosmetic rehab involves paint, carpet, and fixtures. Structural rehab involves foundation repairs, framing, roof replacements, and mechanical upgrades, requiring permits and licensed contractors.

Should I hire a General Contractor or manage the sub-contractors myself?+

Hiring a General Contractor (GC) adds 15% to 25% in builder markup but saves time and coordinates licensing. Managing subs yourself saves money but requires building knowledge and daily site supervision.

How do carrying costs affect my flipping budget?+

Carrying costs (interest, insurance, taxes, utilities paid while renovating) accumulate monthly. The longer the rehab takes, the lower your profit margin, making schedule management critical.

How the calculation works

1Input your property square footage and select the general interior finish grade.

2Provide exterior siding and roofing costs per square foot (or use defaults).

3Specify kitchen count, bathroom count, and their respective remodel quality grades.

4Select the mechanical upgrades required (HVAC, electrical, plumbing) and add a contingency buffer percentage.

Rehab Cost Allocation

Visualize the breakdown of your renovation budget by category.

Interior Base$90,000

Kitchen & Baths$24,000

HVAC, Electrical & Plumbing$11,000

Roof & Siding$26,000

Contingency$15,100

How to understand and use this calculator

Building a Property Rehab Budget

Underwriting a property flip requires a detailed construction budget. Renovation errors can quickly eliminate profit margins.

rehab estimates typically combine square-footage base rates with specific project additions:

1. Base Interior Rehab: Cost to paint, install flooring, trim, drywall repairs, and light fixtures, calculated by square footage and finish grade (Economy, Mid-Range, or High-End).

2. Kitchen Bath Upgrades: Major wet area renovations requiring plumbing, cabinetry, and tile work.

3. Mechanicals Envelope: Structural systems like roofs, siding, HVAC, electrical panels, and plumbing mainlines.

4. Contingency Buffer: A reserve fund (typically 10% to 20% of the subtotal) to cover unexpected repairs (mold, structural issues) found during demolition.

Total Rehab Budget = Subtotal Costs × (1 + (Contingency %)/100)

How to Use This Calculator

Worked Example: Rehabbing a 2,000 Sq Ft Flip

Related Calculators

Related concepts

70% Rule in Real Estate

A screening formula used to estimate the maximum purchase price for a profitable flip.

Scope of Work (SOW)

A detailed construction document outlining all materials, labor, permits, and schedules for the renovation.

Capital Improvement

Any permanent structure addition or property renovation that increases the asset's value and extends its useful life.

Frequently Asked Questions

How do you calculate a property rehab budget?+

Combine square footage base rates for general cosmetic work with specific itemized costs for major systems (roof, HVAC, kitchen, baths) and add a 10% to 20% contingency buffer.

What is a typical cost per square foot for a home renovation?+

Why is a contingency buffer necessary in house flipping?+

How much does it cost to remodel a kitchen?+

An economy kitchen remodel costs $5,000 to $8,000. A mid-range remodel (semi-custom cabinets, granite counters) costs $12,000 to $20,000. A high-end kitchen remodel easily exceeds $30,000 to $50,000.

Should I replace the HVAC system when flipping a house?+

If the system is over 12 to 15 years old, replacing it reduces buyer objections and increases appraisal value. Newer systems are also more energy-efficient.

What is the 70 percent rule in house flipping?+

The 70% rule suggests you should pay no more than 70% of the property's After Repair Value (ARV) minus estimated rehab costs. Maximum Purchase Price = (ARV * 0.70) - Rehab Cost.

How do permit fees affect the rehab budget?+

Permits and inspection fees typically add $500 to $3,000 to the budget, depending on local municipal rules and the scope of structural work.

What is cosmetic vs structural rehab?+

Cosmetic rehab involves paint, carpet, and fixtures. Structural rehab involves foundation repairs, framing, roof replacements, and mechanical upgrades, requiring permits and licensed contractors.

Should I hire a General Contractor or manage the sub-contractors myself?+

How do carrying costs affect my flipping budget?+

Carrying costs (interest, insurance, taxes, utilities paid while renovating) accumulate monthly. The longer the rehab takes, the lower your profit margin, making schedule management critical.

Rehab Budget & Renovation Estimator

Inputs

Property Size & Finish Grades

Exterior & Bathrooms

Mechanical System Upgrades

Results

Rehab Sizing Formulas

How the calculation works

Learn more about this calculation

House Flipping Guide: How to Calculate ARV, 70% Rule, and Profit Margin

How to Use Do The Calculation Calculators: A Practical Step-by-Step Guide

Renting vs. Buying: A Comprehensive Comparison

Rehab Budget & Renovation Estimator

Inputs

Property Size & Finish Grades

Exterior & Bathrooms

Mechanical System Upgrades

Results

Key output metrics

Rehab Cost Allocation

How to understand and use this calculator

Building a Property Rehab Budget

How to Use This Calculator

Worked Example: Rehabbing a 2,000 Sq Ft Flip

Related Calculators

Related concepts

Frequently Asked Questions

Rehab Sizing Formulas

How the calculation works

Learn more about this calculation

House Flipping Guide: How to Calculate ARV, 70% Rule, and Profit Margin

How to Use Do The Calculation Calculators: A Practical Step-by-Step Guide

Renting vs. Buying: A Comprehensive Comparison

Key output metrics

Rehab Cost Allocation

How to understand and use this calculator

Building a Property Rehab Budget

How to Use This Calculator

Worked Example: Rehabbing a 2,000 Sq Ft Flip

Related Calculators

Related concepts

Frequently Asked Questions