Estimating Costs to Remodel a Home | FULL BREAKDOWN
In this video we go through line by line what it costs to do a FULL home remodel. I have a lot of experience with this and one of the most common questions I get from friends and family is regarding how much everything costs, so I decided to break it all down in 1 video.
This was a fun video! We go through every line item on what it costs to remodel your home. This applies to people who are flipping houses or people who are just remodeling their own home. If you fall into either of those buckets, you are sure to find this video helpful. First we get into all of the boring mechanical stuff, but all items that are very important like plumbing and electrical for example. After that we get into the finishes and I walk you through each finish detail including flooring, kitchens, bathrooms, paint, and more. If you have questions about these home renovation expenses please let me know and I'd be happy to elaborate!
See you next video!
-Scott
#realestate #homerenovations
Disclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. If you need legal advice, please contact an attorney directly. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. I (Scott Edward) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. And one more thing.. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel.
Пікірлер: 112
I hope this helps you estimate costs for your next home remodel!
That’s a really helpful video, thanks for putting all of those details together. And can’t wait to see your landscape job when it’s finished!
Great breakdown of the costs man! Love the straightforwardness of this!
This is awesome u broke it down so well it will help and be a guide for those looking to do it in the near future 😀
You summed it all up really well. Would show this video to anyone who is new to real estate!
@Real.Estate.Report
3 жыл бұрын
Thanks!
Great info man! Seeming all of those cost really puts everything in perspective. Happy new year bro!
@Real.Estate.Report
3 жыл бұрын
Happy new year! I'm glad you enjoyed the video and breakdown on the costs!
This was a great list and really to-the-point on how much everything will cost you, but worthwhile in the long run! Even though the kitchen is usually the "selling point" of a house, a good bathroom(s) is what sells it for me 😅 great stuff Scott!
@Real.Estate.Report
3 жыл бұрын
Hey everyone has their preferences! The bathroom, especially the master bathroom is important! I appreciate you watching!
This is so helpful! We've been trying to estimate costs for the house we just bought. Great video Scott, thank you for sharing all your experience and insights :)
@Real.Estate.Report
3 жыл бұрын
That is awesome! Congrats on your new home, let me know if you guys have any addition questions!
roof replacement for 8K ?!?!?! omg.. would love that... Im from Iceland.. for your size house, it would be approximately 46k USD .. just to change the roof---- so.. sewers around 25k pipes around 25k elec. wires 30k so .. around 40k USD in US the same job would be around 120-150k usd in Icealand.. :(
What a great video Scott, breaking down major costs to remodel a home completely and the estimated costs. 🙂 The costs of fixing Sewer system and remodeling kitchen is insane.
@Real.Estate.Report
3 жыл бұрын
Yes those are big ticket items for sure! The kitchen you at least to enjoy... the sewer system well, that's a little more "behind the scenes" haha
Knowing what the costs are before going in can save you headaches later on. Great guide bro! I'll definitely have to come back to this video when I buy my first flip/rental
@Real.Estate.Report
3 жыл бұрын
For sure! Let me know when the time comes and I'd be happy to help with any questions you have!
great vid Scott! you gave us the run down on this one! 😁😁
Great breakdown of everything that's involved in this Scott! Easy watch and so informative! 💪
@Real.Estate.Report
3 жыл бұрын
Thanks for watching!
Great video of giving us estimate on home repairs. It was really helpful
This is such a timely video for us! Trying to decide whether to buy a new home or buying an old home and remodeling.
@Real.Estate.Report
3 жыл бұрын
I’m glad it was timely for you guys! There are pros and cons to both options. Remodeling an old home can definitely test a couple’s patience LOL
Loved it bro
This is an incredible breakdown. I am looking into entering the house flipping gig and these videos are very helpful
@Real.Estate.Report
3 жыл бұрын
I'm glad it helped you out! Please let me know if there is anything I can do to help as you ramp up in the house flipping business!
This is very helpful. We’re looking to buy, but most things in our price range are fixers in need of major systems renovations (in addition to all the cosmetic stuff). Trying to figure out how to budget for that when buying has been stressful. Your video reassured me that I probably haven’t overlooked a major budget item. Between inflation since this video was posted, higher costs in our area, permitting and sustainability requirements for our city and state, and our own preferences for certain upgrades, I suspect we’re looking at another $100k or so on top of what you broke down.
This is really helpful! Thanks for these pro tips 👍 I'm going to bookmark this video for when I do my master bath this year.
@Real.Estate.Report
3 жыл бұрын
Awesome! Good luck on your remodel and let me know if there is anything I can do to help!
Great breakdown. One thing people should also make sure to include is the cost for removals (dumpster and trash removals as well as any permits that are required to make these changes).
@Real.Estate.Report
3 жыл бұрын
Very good point, those costs can easily add up to a few thousand more if you are doing a full renovation!
You are so amazing, clearly shown that you’re a real subject matter expert ✨🥳🎉 Have a good weekend buddy ✨🙏🏼
@Real.Estate.Report
3 жыл бұрын
I really appreciate that! Have a good weekend!
Great video, thanks for the upload!!
@Real.Estate.Report
3 жыл бұрын
Thank you for watching!
outstanding breakdown. i know all the words you spoke but having it so carefully walked through was awesome... even years later... updated version would be cool (bidenflation)
Excellent job man, no beating around the bush, just a direct breakdown Loved it! Thanks so much for sharing that! 🙏🏻 Keep up the good work!
You were great ty Gby
Hmmm great video topic! Plus with current events I know the costs have risen for new construction homes but its becasue of cost of materials. Bet this extends to home improvement as well! Love the tour too. Great content!!
@Real.Estate.Report
3 жыл бұрын
Thank you! It's true prices have been driven up to crazy levels lately. It's so expensive to remodel or build new, and hard to find talented workers!
Great content. Thanks!
@Real.Estate.Report
3 жыл бұрын
Glad you liked it!
Dang, it costs a house to remodel a house lol Definitely helps to think about all of these when deciding how I went to eventually enter real estate. Thanks for sharing Scott. I LOVE that you spent all of the time going in on these numbers. I can see how much work you put in this and I appreciate it!
@Real.Estate.Report
3 жыл бұрын
I appreciate the kind words Jessie! And yes this one took a bit longer to run around with the camera and get different angles but it was super fun!
Great tips brother I love it rehabs makes a bigger check but most come with a headache for sure.
@Real.Estate.Report
3 жыл бұрын
Oh yeah lots of headaches along the way but worth it in the end!
Useful info. Thanks!
@Real.Estate.Report
3 жыл бұрын
Glad it was helpful!
I keep telling my wife that it’s gonna cost 100k to remodel our house but she thinks I’m playin 😭😭 like why would I play about spending 100k.. and that’s with me doing the flooring, landscaping and new concrete driveway by myself 😭😭 somebody say a prayer for me lol
Super helpful and timely for me because I recently closed on my house/rental property. Thanks Scott!
@Real.Estate.Report
3 жыл бұрын
Glad it was helpful! And congrats on the purchase of your rental property, that's awesome!
@sironeil-personalfinancere9367
3 жыл бұрын
@@Real.Estate.Report thank you brother
No matter what it almost seems like reno's go over budget! Thanks for the guidelines Scott!
@Real.Estate.Report
3 жыл бұрын
That's for sure! I've never had one come in under budget!
Great video Scott! As someone who is looking to get into real estate within the next 1-2 years as an investment, I really appreciate the breakdown of all the different costs, since the whole thing is a little over my head right now haha! Keep it up man!
@Real.Estate.Report
3 жыл бұрын
I appreciate that and I'm glad that this was helpful! The process can be intimidating at first but you've got this! Let me know if there is anything I can do to help.
That was very useful, I will know where to find it when I need it next time thanks for sharing.
@Real.Estate.Report
3 жыл бұрын
Glad to hear it! Let me know any way I can help!
@InspirationFromThePast
3 жыл бұрын
@@Real.Estate.Report Nice to hear, I will keep that in mind.
I was guessing the numbers before you said them as I was watching. Loved this video, great job!
@Real.Estate.Report
3 жыл бұрын
That is awesome! Curious to hear if the numbers are similar in your region?
This video is really helpful. Real estate investing takes a lot of money, but it’s definitely worth it.
@Real.Estate.Report
3 жыл бұрын
Yes it is Tim! Thanks for watching!
Very detail break down. Very informative. Every dollar count. 👍
@Real.Estate.Report
3 жыл бұрын
Every dollar counts, and every dollar adds up!
Great video, I wanted to know what it would be like to redo some of these items. Will keep this in mind!
@Real.Estate.Report
3 жыл бұрын
Glad it was helpful and best wishes on your remodel
Great breakdown Scott! 👊🏾🔥💯
@Real.Estate.Report
3 жыл бұрын
Thank you!
@KiaraHargrove
3 жыл бұрын
@@Real.Estate.Report No problem!
Good
Really interesting insight here! Nice video, liked and subbed!
@Real.Estate.Report
3 жыл бұрын
Awesome, thank you!
Good tip to do the mechanical stuff while the walls are open. Up in Canada it rains so much so people need to change their roofs more often. Cool record collection you have there. I like the white color scheme too. Nice and clean. Crazy how quick all these costs add up. Great video man!
@Real.Estate.Report
3 жыл бұрын
Thanks Adam! I didn't think about the impact the rain in Canada would have on the roof systems. And that record collection has been growing slowly for years! Every time I visit an antique store I buy another one or two.
@adamproceviat2285
3 жыл бұрын
@@Real.Estate.Report That's a fun thing to collect! #nostalgia
@Real.Estate.Report
3 жыл бұрын
For sure.. I’m an old soul I guess haha!
Great video man. New sub here
Super cool. I am super young but want to get into real estate as soon as possible!
@Real.Estate.Report
3 жыл бұрын
Start when you’re young, you will not regret it trust me!
Great video and great information. liked and subbed!
@Real.Estate.Report
3 жыл бұрын
Awesome, thank you!
Nice Hi brother Thank you for sharing 👍
@Real.Estate.Report
3 жыл бұрын
Thanks for watching
What about gutters, down spout, exterior paint, concrete, etc?
What's up my fellow desert dweller! Wow the sewer system repair sucks. So do you put everything on a spreadsheet and work it out from there?
@Real.Estate.Report
3 жыл бұрын
Hey! Yep I live by spreadsheets when it comes to analyzing and underwriting deals!
Nice sharing. Friend here from the Philippines. God bless
How accurate would these pricing be for 2023. Also on the trim replacement is that including any crown molding or just baseboards? I am currently starting a flip and I am not sure if the prices I am given are correct. Besides multiple quotes any other recommendations? Thanks a lot for this great video.
Can you do an updated version with 2023 prices?
I need to replace an HVAC before summer hits... not looking forward to that hit. Informative video as always sir. $120k is a lot but as you know, it's not actually that bad if your going bargain hunting on the housing market. You're either going to pay the $120k in renovations or on the purchase price if its been done. At least this way it can be to your standards and style you know will sell.
@Real.Estate.Report
3 жыл бұрын
Yep that's exactly right RJ... its either you buy it knowing it needs gutted or you pay a premium because somebody else has done all of the hard work. Sorry to hear you've got that big cap ex coming soon... but the good news is that you won't have anything to worry about for a while once it's replaced!
Remodeling is soooooooo expensive! wow
@Real.Estate.Report
3 жыл бұрын
I know it's nearly twice as expensive as just a few years ago!
you really were meant to be a teacher my friend!
@Real.Estate.Report
3 жыл бұрын
That is very nice of you to say, thank you!
paint is tricky because spraying everything one color is one thing if you want two tone and have it done it gets 10-20k doesn't it? We will need it done before we move in. My grandparents house needs ceiling repair and redo work ugh... and we live in another state. Need it done for us before we can move in :( my other thought is wood prices are up which may change this a lot.
The example house you used is actually the same as my rental house 😂 things are slightly more expensive in New Jersey but everything still seemed about right, I find that a lot of different contractors in my state vary in price and the time it takes to finish the job. does Arizona have that same problem where you have to shop around different people?
@Real.Estate.Report
3 жыл бұрын
Ha that's perfect, I was hoping this example would apply to a lot of people and investors! I definitely interview 2-3 contractors for all of my bigger jobs. And when they know you are shopping, they tend to be more aggressive with their pricing!
Do these prices include labor?
Also depends on if you're a slumlord :)
@Real.Estate.Report
3 жыл бұрын
Not sure what you mean by that!
👌
At 1:30 how did you do that !? 🤯
Amazing video too bad those numbers aren’t today’s numbers! 😭
lol 2 years later its more like double everything
Your costs sound to low.
Triple all of the numbers he said to be closer to the actual cost.
Very complete breakdown. I noticed quite a bit of cost variation on certain items between where you are and here in the midwest. Just as an example, you couldn’t trim a 1600 sq ft home here, even using cheap MDF, for double what you quoted. You must be using illegals, lol. Seriously though, I’m curious about having to trench through the house for new water and sewer. Aren’t the foundation slabs prestressed concrete and cabled due to the soli conditions present in AZ. How does that work?
So 120k for remodeling and what was your price for that house ?