Build a practical fix-and-flip rehab budget and keep it current as contractor pricing, scope changes, credits, and payments evolve.
Start at the property level
Build a total rehab baseline that covers the trades and major cost categories you expect. Use that as the number against which later changes are measured.
Record approved changes when they become real
Do not silently edit the baseline. Add approved increases and credits as separate items so you retain a clear history of why the projected rehab cost changed.
Keep pending exposure visible
Unpriced or proposed work can still threaten the budget. Show it near the official projected cost without treating it as committed until approved.
Frequently asked questions
What should I track on a house flip rehab?
Keep the starting rehab budget, contractor commitments, approved cost changes, pending scope, payments by contractor or vendor, and contingency. Together those numbers show the current projected rehab cost and where the cash is going.
Should contractor commitments increase the rehab total?
Not automatically. A contractor commitment can be an allocation inside the starting rehab budget. Later approved scope increases are what move the projected rehab cost above that baseline.
How should I track multiple contractors?
Use a consistent contractor or vendor name on commitments, cost changes, and payments. That gives you a property-level total and a contractor-level view without separate spreadsheets.
Is RenoTally construction-management software?
No. RenoTally stays focused on the money side of the rehab: budget, contractor commitments, cost changes, payments, contingency, and projected final cost.
Compare a starting rehab budget with approved cost changes, pending scope, contractor payments, and contingency.
Open the free calculator