If you happen to be a landlord or real estate agent, you know there are little things that always need to be done in order to keep properties in tip-top shape. “How Much Does it Cost to Rekey a Lock” is one question you'll be asking for example!
From rekeying a lock to repairing a chimney, sometimes these small items can cost a pretty penny whether you do the work yourself or hire it out. In some cases it can be beneficial to your wallet to try and do the work yourself, however, making that determination starts with having a baseline price model to fall back on.
Knowing this, we put together this article with the answers to twelve of the most common “How much does it cost” real estate maintenance questions. Starting with answering the big question: How much does it cost to rekey a lock?
How much does it cost to rekey a lock?
Rekeying a lock simply means adjusting a lock or “Rekeying” it so that a new key can be used instead of the old one. Doing this allows someone to keep the same lock with a new key.
Common reasons for rekeying a lock include:
- The home has changed tenants/occupants and you’re unaware of who has the old key
- Lost keys and unsure who might have them
- Don’t want someone with a key to be able to get in
In order to successfully rekey a lock, the process requires a master locksmith to come out to the homesite, incurring a service call fee. From there, each lock that needs to be rekeyed can vary in price depending on:
- The type of lock
- How many locks
- Do you have the existing key or not
Lock Rekeying Costs:
| Rekey Service Call Fee: | $75 – $100 |
| Low End Per Lock: | $5 |
| High End Per Lock: | $25 |
| Average Total: | $85-$125 |
Of course, the other option is to simply buy all new locks and replace the existing locks which can cost roughly the same or can be even cheaper depending on the type of locks you buy. A two-pack of deadbolts starts at just $40 on average at a local hardware store.
The key (no pun intended) to all of this is having the existing key. Without the existing key, the prices can vary and cost significantly more!
11 Other Common Real Estate Costs to Be Mindful Of
How much does it cost to hire someone to refinish wood floors?
Fawn oak floors were the style in the late ’90s, but homeowners look for darker colored floors which means you could be considering refinishing your existing wood floors.
Ultimately, the price will determine whether you decide to refinish your wood floors or replace them, either way here is the cost to hire someone to refinish wood floors:
- Price Per Square Foot: $3 to $8
- Average Cost: $1800
- Consists of sanding, filling and restaining existing wood floors
How much does it cost to drill a well?
Purchasing a new home or a rental property only to find out you will need a new well drilled can be discouraging and also expensive. However, if the water source for a home is well water and the existing well is no longer sufficient, a well needs to first be drilled, then the new well system must be installed.
The cost to drill a well is based on linear foot and how deep the water source is (can be 400 feet) and starts at:
- Price Per Foot: $15 to $30 (or more) for drilling only
- Price Per Foot with Install: $25 to $60
- Total Costs: $3,000 to $15,000
How much does it cost to fill in a pool?
Contrary to what you might imagine, a defunct pool can cause some serious issues for resale purposes if you’re a real estate agent. Knowing this, some people elect to simply fill the pool with dirt – not water – since pool repairs can be extremely expensive.
The average price to fill in a pool is $5,000 to $10,000 depending on what is involved. Removing the top and appropriately filling the pool incorrectly make this a costly item for most.
How much does it cost to remove asbestos?
Asbestos is nothing to mess with on your own and removing it should never be a DIY project. The cost to remove asbestos can vary depending on numerous factors but according to Home Advisor, the national average checks in right around $2,000.
Most of the expenses incurred when it comes to asbestos removal stems from sealing off the area. Labor costs can vary starting at $100 per hour and an entire home asbestos remediation job can approach five digits.
How much does it cost to remove the popcorn ceiling?
Similar to almost every project cost we have listed, removing the less than glamorous popcorn ceiling is based on square footage. The average price is typically around $1-$2 per square foot.
Removing an existing popcorn ceiling in a room or home will cost anywhere between $500 and $2,000 depending on size. This consists of scraping away the existing popcorn texture and refinishing it. This does not include painting. Keep in mind, this is still cheaper than replacing the drywall, finishing it, and painting.
How much does it cost to resod a yard?
Laying sod or “Resodding a yard” can require a large amount of prep work and is often labor-intensive which means the price can add up. Below you will find the costs to resod a yard based on several factors:
- Buying a pallet of sod at contractors price ($.40 cent per square foot): $180
- Price to buy and install sod: $1-$2 per square foot. A pallet costs $450 to $900 to install on average
- Additional costs such as grading, fill dirt, and removing existing grass can increase the price
Keep in mind, larger quantities of sod cost less when bought by the pallet, but this also means more labor behind installing the sod. You can find sod installation companies and wholesale locations pretty easily.
How much does it cost to replace a toilet?
To buy a new toilet, the average price is anywhere in between $125 and $225. However, purchasing a new toilet is one thing, having it installed is another.
On average, the cost to replace a toilet will range from $200 to $500 with the gap varying on the cost of the new toilet and the labor charges. Most plumbers charge an hourly minimum which hovers around $50-$70 per hour.
Total Average Cost to Replace a Toilet: $350
How much does it cost to repair a chimney?
A masonry chimney repair can mean a lot of things. From replacing the existing chimney liner to small waterproofing repairs, the cost to repair a chimney can vary mightily depending on the scope of the work required.
That said, the average price to repair a chimney for routine issues starts at $500. However, keep in mind it is best to get a few opinions for larger issues such as replacing the crown of a chimney as the expenses can quickly add up and cost $1,000s.
How much does it cost to stain concrete floors yourself?
If you’re someone who is looking to stain concrete floors yourself, the only costs you will incur is the price of the material; stain, brushes, and cleaning supplies.
The stain itself can cost $.30 per square foot with the concrete cleaner needed prior to cleaning costing $.15 per square foot. Total costs to stain concrete floors yourself average around:
- $.50 per square foot
- 200 square foot project = $100
How much does it cost to tear down a house?
The price to tear down an existing home can vary depending on numerous demolition factors such as the proximity to other structures, the size of the home, and any local restrictions/regulations.
Similar to a lot of home-based services, demolition costs are based on square footage and are as follows:
- Tear down a house price per square foot: $5-$15 per square foot
- Average Cost: $5,000 to $15,000
How much does it cost to waterproof a basement?
Waterproofing a basement is never an enjoyable repair, but in cases where it is required, it is an important task on the to-do list.
While there are specialty companies that can help you with water damage, it's best to try and avoid it altogether.
Proper waterproofing prevents large issues down the road for landlords or those looking to sell, and the cost to waterproof a basement varies based on the size of the basement, repair, material, and other factors.
Average Waterproofing Prices:
- Cost per square foot: $4 to $12
- Total Average Cost: $5,000
Final Word
As you can see, the answer to the landlord’s dilemma of “How much does it cost” can vary greatly. The best way to calculate costs is to figure out the size of the area needing to be repaired/replaced and calculating the costs per foot.
Regardless, it is reassuring to know that once bookmarked, you can refer back to this article any time you are in search of some solid price points to use when you are having service work done to your property!
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Joe DiSanto is the founder of Play Louder! He has built multi-million dollar businesses, produced critically acclaimed documentaries and an Emmy-winning TV show, invested millions in real estate, and semi-retired at age 43. Now, Joe serves as a Fractional CFO for several creative firms and is sharing a lifetime of fiscal know-how via Play Louder, an invaluable resource that helps individuals and business owners increase their net worth and plan better for their future.