- Joined
- Apr 22, 2015
- Messages
- 30
I was reading this post by an American house flipping blogger who says a quick way to estimate repair costs for a standard cosmetic rehab is to use the “$20 per sq. ft.” rule. "For example, if you are buying a house that is around 1,500 sq. ft., you can plan on spending right around $30,000 for the rehab (1,500 x $20 = $30,000). A 'standard' cosmetic rehab usually includes all new flooring (carpet and hard surface floors), paint (inside and outside), baseboards, electrical and plumbing fixtures, new kitchen/bathrooms (including cabinets, granite, appliances), blinds and window treatments, doors and maybe a little bit of landscaping."
I know many things are cheaper in the US than they are here in Canada, so I'm wondering if this rule could be used here as well for rough estimates? Would you round up to $30 based on the current exchange rate?
Thanks.
I know many things are cheaper in the US than they are here in Canada, so I'm wondering if this rule could be used here as well for rough estimates? Would you round up to $30 based on the current exchange rate?
Thanks.