Estimating Repair Costs: A Fast & Smart Approach for Investors

You don’t need to be a contractor to estimate rehab costs like a pro — but you do need a reliable system.

This guide will show you how to quickly estimate repairs based on property type, condition, and square footage so you can make confident offers without getting burned.

🔨 Why Rehab Estimates Matter

The difference between a good deal and a bad one is often found in the repair budget. Overestimating can kill a deal unnecessarily. Underestimating can kill your profits.

You need speed, accuracy, and repeatability — especially when bidding at sheriff sales.

🧱 The 3 Levels of Rehab

We recommend using three broad categories for most residential flips:

1. Light Rehab ($15–$25/sqft)

  • Paint, cleaning, minor fixture updates
  • Carpet/flooring in a few rooms
  • Basic curb appeal

2. Medium Rehab ($30–$40/sqft)

  • Full kitchen/bath remodels
  • New flooring, light electrical/plumbing
  • Interior doors, trim, paint, etc.

3. Heavy Rehab ($45–$65+/sqft)

  • Major mechanicals (roof, HVAC, electric panel)
  • Foundation or structural work
  • Gut jobs or severe damage

💡 Use our sliders and calculators to test different rehab levels based on the property’s condition.

📐 The Quick Formula

Multiply the square footage by your rehab level:

Example:
1400 sqft × $30/sqft (medium rehab) = $42,000 rehab budget

You can round up 10–15% for buffer if the property hasn’t been walked.

🔍 How to Gauge Condition Without Interior Access

Most sheriff sale homes are occupied or boarded, so you’ll need to rely on:

  • Exterior drive-by condition
  • Age of roof, windows, siding
  • Public records (when was it last sold or remodeled?)
  • Price per sqft compared to neighboring homes

🔗 We recommend taking photos, video, and looking at street-view images for history.

🛠️ Tools to Help You Estimate

  • Profit Calculator — includes square footage and rehab sliders
  • Deal Analyzer Wizard — walk through your full scenario
  • Let our team walk the property post-sale and provide licensed contractor quotes

🚫 Common Mistakes to Avoid

  • Using a blanket $20K estimate for every deal
  • Ignoring major systems (roof, plumbing, HVAC)
  • Assuming cosmetics are cheap — kitchens add up!
  • Not adjusting for square footage at all

Rehab costs are often where new investors go wrong. Let the numbers — not your gut — lead.

✅ Final Word

With the right system and tools, you can estimate repairs faster, smarter, and safer — even before walking the property.

Use square footage × rehab level, trust the math, and always build in a buffer.

Ready to analyze your first deal? Use the Profit Calculator now — or reach out and let our team walk you through it.