Estimating Renovation Costs: A Room-by-Room Breakdown
Accurate repair estimates separate profitable flips from money pits. Learn to estimate costs like a seasoned contractor.
Flooring sets the tone for the entire home. Choose materials that appeal to buyers and stay within budget.
Flooring impacts a buyer's first impression more than almost any other finish. It covers every room, it's immediately visible, and it signals the overall quality level of the renovation. Choosing the right flooring for your price point is critical.
Luxury Vinyl Plank (LVP) has become the default choice for most fix-and-flip renovations, and for good reason. It's waterproof, scratch-resistant, easy to install, and available in convincing wood-look finishes. Quality LVP costs $2–$5 per square foot for materials and $1–$3 for installation. It works in every room, including kitchens, bathrooms, and basements. For flips under $350K ARV, LVP throughout the main living areas is the sweet spot.
Hardwood flooring is expected in higher-end flips. If the property has existing hardwood under carpet or damaged finishes, refinishing costs $3–$6 per square foot and adds significant value. New engineered hardwood runs $5–$10 per square foot installed. Use hardwood in main living areas and bedrooms, with tile in bathrooms and LVP in basements.
Tile is essential in bathrooms and can be a strong choice for kitchens and entryways. Large-format tiles (12×24 or larger) in neutral tones create a modern, spacious feel. Porcelain tile is more durable and water-resistant than ceramic. Budget $4–$10 per square foot installed for quality tile with professional installation.
Avoid carpet in main living areas — it reads as dated and cheap in most markets. If you must use carpet (some buyers expect it in bedrooms), choose a neutral, mid-grade carpet with a quality pad. Budget $3–$5 per square foot installed.
Consistency is key. Use no more than 2–3 flooring materials throughout the home. Consistent flooring creates visual flow and makes spaces feel larger. Random transitions between multiple materials feels disjointed and cheap.
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