I’m looking into a bank owned home under construction and am trying to come up with an estimate of how much it will take to finish it. The home is drywalled so it needs cabinets, appliances, flooring, paint, fixtures etc. Also driveway, front steps & finish the exterior rock work. 4 bed 3.5 bath 2 story. Approx 3,500 sq ft. plus unfinished basement. Homes in the area have hardwood floors and granite counters.
Any idea what I should budget for?
First, I hope the bank is able to provide you material and labor lien releases.
In most states a default and foreclosure does not eliminate a contractor or sub-contractors right to lien the property.
If you can do a quantative take off of the square feet or linear feet of your specific items remaining to be finished, go down to Home Depot or Lowe’s and purchase the “Building Construction” or “Remodeling Construction” Cost Estimating Guide Books by R.S. Means.
These books give you average cost’s in square feet, square yards or linear feet to accomplish any part of the building process. Take your total numbers and multiply it towards the cost.
Good Luck