remodeling/flipping budget spreadsheet

[socialREMODEL.com]

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.

Remodel Budget Calculator

[flippinout]

I just took a look at that calculator and I can see where it would be invaluable to someone needing to have some remodeling done.

I really like the fact that it has "do it yourself" vs "having a contractor" to do the work. This way you know in advance exactly how much material and labor will cost and this will better help you stay within your budget.

One question though, does it have an area where you can get an idea of how long the job should take if you decide to hire a contractor?

To me that information would be very important in order to have an idea when the job should be done, and you could also tell if the contractor is just piddling around or getting to the job at hand.

[flip_it_fast]

Thats awesome social. A lot of very valuable information.

That is simple enough for anyone to use and covers most of the bases. It answers a lot of questions that I have when I am considering a remodel. I have several projects in mind as we speak so this will be very helpful to me. Thanks!

[socialREMODEL.com]

Thanks for your input. I will definitely consider adding a schedule calculator to the spreadsheet. It is a little more difficult to estimate an accurate schedule than costs based on quantities, but I'm sure I could figure out something that can provide some baseline time frames of how long it could take to perform certain tasks...

I appreciate the great reviews and if you don't mind I may add your reviews to my website.

Again much appreciated!

socialREMODEL.com

[flippinout]

You are very welcome. Glad we could be of help to you.

And yes, adding some kind of time frame for the work could be a big help to many people who have no idea what kind of time it would take to do a job.

[socialREMODEL.com]

I just wanted to update you on the Remodel Cost Analysis & Management Spreadsheet. I have made some major improvements to the spreadsheet since I last posted it.

I added a project scheduler which will automatically calculate the approximate amount of man hours it will take to complete a task based on the quantity of materials entered.

I have also added project management features that will allow you to manage scopes of work and budgets for subcontractors. You can also manage contingency items and DIY items so you can analyze your budget based on whether you are going to be performing the work yourself or subbing it out.

I hope this spreadsheet receives you well. If you have any questions or suggestions I would be more than happy to help.

Thanks,

http://www.socialremodel.com/remodel...o-version.html

[flippinout]

Thanks for the update on the spreadsheet. It is easy enough for anyone to understand and adding the cost for DIY vs subbing the job out will help a lot when trying to figure out whether or not we can afford a project and how much we will save when we do the jobs ourselves.

This summer, we are extending our back deck. This is a job that my husband and sons will be doing and by checking your spreadsheet, we can see that their doing this job will save us hundreds.

Thanks again for the update.