Rehab Budget Template
A line-item rehab budget format covering all standard trades. Designed for both flip-grade (retail buyer expectations) and BRRRR-grade (durable tenant finishes) scope. Use as the basis for contractor bidding — same template, multiple contractor inputs, side-by-side comparison.
- Standard trade categories (demo, structural, mechanicals, finishes)
- Quantity / per-unit cost / total columns for each line
- Contingency calculation (15-20% of subtotal)
- Comparison column for 2-3 contractor bids
- Notes section for scope clarifications
- Walk the property with a checklist before talking to contractors. Note every issue.
- Send the same blank template to 3 contractors with a written scope description
- Receive 3 bids back in the same format — apples-to-apples comparison
- Lock the scope BEFORE signing. Change orders are how rehabs blow up the budget.
Copy below, or download.
REHAB BUDGET — PROPERTY: ________________
Scope target: [ FLIP RETAIL / BRRRR TENANT / OWNER-OCCUPY ]
Square footage: __________ · Bedrooms: __ · Bathrooms: __
============================
DEMO & PREP QTY UNIT TOTAL
============================
Trash-out / debris removal: ___ $______ $______
Tear-out (kitchen / baths): ___ $______ $______
Floor demo: ___ $______ $______
Disposal fees / dumpster: ___ $______ $______
DEMO SUBTOTAL: $______
============================
STRUCTURAL & EXTERIOR QTY UNIT TOTAL
============================
Roof repair / replacement: ___ $______ $______
Siding repair: ___ $______ $______
Foundation work: ___ $______ $______
Windows (each): ___ $______ $______
Exterior doors (each): ___ $______ $______
Exterior paint: ___ $______ $______
Gutters: ___ $______ $______
Driveway / walkway: ___ $______ $______
STRUCT/EXT SUBTOTAL: $______
============================
MECHANICALS (HVAC / PLUMBING / ELECTRIC) QTY UNIT TOTAL
============================
HVAC repair / replace: ___ $______ $______
Water heater: ___ $______ $______
Plumbing rough + finish: ___ $______ $______
Electrical rough + finish: ___ $______ $______
Service panel upgrade: ___ $______ $______
MECH SUBTOTAL: $______
============================
INTERIOR FINISHES QTY UNIT TOTAL
============================
Drywall repair / texture: ___ $______ $______
Interior paint (per sqft): ___ $______ $______
Trim / doors: ___ $______ $______
Flooring (per sqft): ___ $______ $______
INTERIOR SUBTOTAL: $______
============================
KITCHEN QTY UNIT TOTAL
============================
Cabinets: ___ $______ $______
Countertops: ___ $______ $______
Appliances: ___ $______ $______
Sink + faucet: ___ $______ $______
Backsplash + tile: ___ $______ $______
KITCHEN SUBTOTAL: $______
============================
BATHROOMS QTY UNIT TOTAL
============================
Vanity: ___ $______ $______
Toilet: ___ $______ $______
Tub / shower surround: ___ $______ $______
Tile floor: ___ $______ $______
Fixtures (faucets / lighting): ___ $______ $______
BATHS SUBTOTAL: $______
============================
LANDSCAPING & FINAL QTY UNIT TOTAL
============================
Landscaping / grading: ___ $______ $______
Fencing: ___ $______ $______
Final clean: ___ $______ $______
Punch list buffer: ___ $______ $______
FINAL SUBTOTAL: $______
============================
PERMITS & FEES TOTAL
============================
Building permit: $______
Electrical permit: $______
Plumbing permit: $______
Inspection fees: $______
PERMITS SUBTOTAL: $______
============================
TOTALS
============================
Subtotal (all categories): $______
Contingency (15-20%): $______
GRAND TOTAL: $______
Per-sqft cost: $______/sqft
[ Benchmark: cosmetic-only $25-35; mid-grade $40-55; gut $60-90 ]
============================
CONTRACTOR BID COMPARISON
============================
Bid 1: ______ Bid 2: ______ Bid 3: ______
Total bid: $______ $______ $______
Timeline: ____ weeks ____ weeks ____ weeks
Reference checks: [ y/n ] [ y/n ] [ y/n ]
Insured / bonded: [ y/n ] [ y/n ] [ y/n ]
Selected contractor: ____________________________
Reason: ______________________________________________________ - Cheapest contractor is rarely the best contractor. Reference checks and recent project tours matter more than the bid number.
- Always include 15-20% contingency. Rehabs run over budget; the contingency is the difference between a profitable project and a loss.
- Lock scope before signing. Mid-project change orders compound — both in cost and in trust erosion with the contractor.
Deeper context.
Terms referenced in this template.
A rehab budget is the line-item plan of construction costs for a flip or BRRRR — typically broken down by trade (demo, framing, plumbing, electrical, drywall, paint, flooring, kitchen, baths) and contingency. Rehabs without a written budget consistently run 20-40% over informal estimates.
After Repair Value (ARV) is the projected market value of a property after all planned renovations are complete, based on recently-sold comparable properties in similar condition within a half-mile radius. It is the single most important number in any flip or BRRRR underwrite.
Flipping is the strategy of buying a distressed property, renovating it to retail standard, and reselling at full market value within 4-9 months. Profit comes from the spread between all-in cost (purchase + rehab + carry + closing) and net sale proceeds.
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