Intro:
Your renovation estimate can make or break your deal. Get it wrong, and your profits disappear. Get it right, and you’ll stay ahead of your competition.
Here’s a simple, step-by-step system to estimate repair costs like the pros do.

1. Walk the Property with a Checklist
Bring a printed checklist covering every system — foundation, roof, HVAC, plumbing, electrical, flooring, paint, and landscaping. Don’t guess. Take notes and photos.

2. Use the “$10 Rule” for Quick Estimates
When in doubt, assign about $10–$15 per square foot for basic cosmetic rehabs and $25–$35 per square foot for heavy renovations.

3. Get 2–3 Quotes from Contractors
Even if you plan to DIY, professional bids help you understand local market costs. Compare prices and spot red flags.

4. Factor in Hidden Costs
Permits, dumpster rentals, design fees, and holding costs (mortgage, insurance, utilities) add up fast — include them all.

5. Keep a 10–15% Buffer
Always budget a safety margin. Something will always surprise you — but you’ll be ready for it.

Closing:
Smart investors don’t just find deals — they measure them. Accurate renovation planning is how you protect your profit before the first nail is hammered.