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Rule of thumb for remodeling: Estimate material costs, multiply by two, estimate labor costs and time required, multiply by three. That should give you a realistic ballpark estimate. ~Beridian

If you've never remodeled and/or you don't know what you're doing, this rule of thumb is true, but if you renovate homes for a living, such as fix-and-flip investors do, you'd never make any money going by this rule.
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