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  • remodel calculator/spreadsheet

    I would like to share a very valuable spreadsheet with you that I have used to develop quick and accurate budgets for a remodels/flips.

    The spreadsheet has a checklist of work items that are typically seen on any ordinary remodel, and unit prices for each. All you need to know is the quantity of work items and plug it in and the spreadsheet will automatically calculate the total for each item.

    The spreadsheet is also capable of some more detailed analysis; here are some of the other tasks it can accomplish:

    1. Can analyze the budget based on self performing some work tasks and subcontracting others. For example, if you think you can paint the entire house yourself, then you place an "x" in the self-perform column and the spreadsheet will automatically calculate the work item as self-performed (material only) and as 100% subcontracted (labor & materials).

    2. Can tabulate work tasks based on trade using the autofilter pulldown. For example, you may have a tiling contractor, a carpenter, or a HVAC contractor on your project. By using the autofilter pulldown, you can tabulate items that are to be performed by the carpenter throughout the project to easily build a scope of work and budget for that trade.

    3. Can tabulate work items based by the subcontractor. This is very similar to the "trade" autofilter except you can organize the work tasks by the subcontractor that will be peforming the work. For example, you can highlight autofilter "Bill's Plumbing" and it will tabulate all of the work items being performed by Bill's Plumbing and show their budget for each item.

    Overall this is a very helpful tool for evaluating potential properties and for managing scopes of work and budgets during the remodel.

    http://www.socialremodel.com/remodel-budget-calculator.html

  • #2
    Re:remodel calculator/spreadsheet

    Thanks for the spreadsheet! I like it.

    Good luck with your endeavor.

    Bill (FL)

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    • #3
      Re:remodel calculator/spreadsheet

      When I first started rehabbing, I set up a detailed spreadsheet. After a while, I stopped using it. With experience I got to where I can estimate a rehab on site. I found that most of my "typical" rehabs went around $10,000 (including closing costs and carrying costs). A light shave and a haircut (carpet/paint mostly) went about $6000 including closing/carrying. These numbers were for me managing the job, but hiring out all the labor. I would use these numbers as a baseline and add to them as needed. In other words, I would look at a house and say - this one is very similar to 123 Maple except that I also need to replace 10 windows. Maple was about 10,000 and windows are $225 each installed. I also knew typical costs to add a full HVAC system, to do a roof job, etc.

      Some people are more detail oriented though and will probably benefit greatly from your spreadsheet. Thanks for providing it for everyone.

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      • #4
        Re:remodel calculator/spreadsheet

        I agree, there are likely many experienced flippers that have a good idea of what a renovation is going to cost just by walking through the property.

        This spreadsheet is probably the most beneficial for those that are starting out and need a baseline budget/check list of items that are typically found in a rehab or an idea of what a certain task should cost.

        The spreadsheet is pretty versatile and it can also give you a good idea of what savings you will have if you performed the work yourself or subcontracted the work. It can also be very handy for organizing scopes of work/budgets for subcontractors during a renovation.

        Thanks for your input and best of luck!



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        • #5
          Re:remodel calculator/spreadsheet

          OK, I have a computer science degree, but I'm feeling kinda stupid looking at this... are there any instructions or tutorials on it? Thanks!

          All the Best,
          Merrick

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          • #6
            remodel calculator/spreadsheet

            Hey Merrick,

            I haven't developed a tutorial or instruction manual for the spreadsheet yet. I tried to add comments to the top of the columns to help the user understand how each column is calculated.

            A general note, the white columns are where you input your information. The shaded columns are automatically calculated based on what you input into the white columns.

            I hope this helps.

            I will work on putting together a users manual in the coming weeks.

            Thanks for your input.

            www.socialremodel.com

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            • #7
              Hi There-
              I am not seeing where I can get a copy of the spreadsheet?
              IS it possible to send me the spreadsheet or tell me where to look?
              thanks
              Andrew

              Comment


              • #8
                I am with rehabber7....you do this enough you can estimate your cost fairly easily. However up until recently we never analyzed our construction cost or ever put them into spread sheets. We had our assistant do it for our past 12 rehabs...the crazy thing about it was all the rehabs were between $40 and $45/sf. Thing was I would compare ABC house to the next house but never really take into account square footage. Then would under of over estimate the cost...... Now that we know our cost per square foot we can realistically bid our construction cost before we go in....life becomes a lot easier when your numbers are right on

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                • #9
                  All the contents you mentioned in post is too good and can be very useful. I will keep it in mind, thanks for sharing the information keep updating, looking forward for more posts. Thanks.

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