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Homewyse Review in 2024 – Pros, Cons & Pricing

Are you starting a home improvement project this year? This Homewyse review will answer your questions about getting started with Homewyse.
This Homewyse review will answer your questions about Homewyse and how to get started with Homewyse this year.

Real estate investors and wholesalers constantly manage and improve properties before selling. But one of the biggest challenges they face is estimating the costs of a home improvement or renovation project before the project begins. 

Failing to accurately make projections can cause investors to overspend and lose money on the deal, which is why Homewyse is such a useful tool. 

With Homewyse, you’ll be able to use their cost calculators to estimate the costs of each part of your project. They’ve compiled the latest US pricing data for materials and continuously update the information for their users. Furthermore, Homewyse gives users the ability to create lists for each project they’re working on to keep a running total of cost projections. 

So, are you looking to get started with Homewyse? This Homewyse review discusses the main features, pros, and cons of Homewyse as well as several alternatives to consider before your next home improvement project. 

What is Homewyse?

Let's talk about what Homewyse is and how you can get started.

Like we mentioned, Homewyse is an online database that provides accurate projections for the estimated costs of contractor services and repair costs. Investors and contractors use Homewyse to gauge project expenses, while homeowners use Homewyse for budgeting repairs and validating estimates from service providers.

For real estate investors, Homewyse helps them assess the cost-effectiveness of renovations for potential investment properties by estimating material and labor expenses. Using Homewyse data, investors can make smart decisions on property acquisitions and accurately calculate ROI before starting a project.

Pros of Homewyse

Here's what we love about Homewyse.
Here’s what we love about Homewyse.

There’s a lot to love about Homewyse, and we highly recommend any fix-and-flip investor, wholesaler, or rental property investor to sign up for the platform. There’s simply no better way to estimate your renovation project expenses and material costs than with the Homewyse platform. 

Here are some additional benefits you’ll find when using Homewyse:

Access to a Range of Renovation Projects

Perhaps the top benefit of Homewyse is its access to a wide range of renovation projects that’s useful for any type of real estate investor or those looking to start a home improvement project. Whether you’re a contractor, homeowner, or investor, the data on Homewyse is accurate and thousands of people just like yourself use Homewyse for their projects.

Some of the renovation projects inside Homewyse’s database include:

  • Exterior trim, siding, and decking
  • Roofing, gutters, and waterproofing
  • Heating, ventilation, and air conditioning (HVAC)
  • Project management and supervision
  • Trim carpentry, millwork, and carpentry

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Accurate Cost Estimates

Without an accurate estimate of total costs for a project, investors could lose their capital and default on their investments. But with Homewyse, the chances of this happening are slim to none with some due diligence.

Simply navigate to the Homewyse website and choose whether you want to estimate the costs for materials, installations, maintenance, or full projects. From there, locate the specific remodeling job or area you need a cost estimate on and compile a list right within the Homewyse website portal.

Design Tools

As we’ll discuss later, Homewyse also comes with design tools so investors and contractors can visualize the finished product before getting started. This allows them to make any necessary changes prior to investing capital into the project and avoid potentially costly changes down the line. 

Cons of Homewyse

Still interested in Homewyse? Pay attention to these potential drawbacks.
Still interested in Homewyse? Pay attention to these potential drawbacks.

There’s no disputing that Homewyse is an extremely helpful tool for anyone involved in renovations or home improvement projects. However, there are several downsides to keep in mind before signing up for the Homewyse platform:

  • Estimates are Not 100% Accurate: The biggest problem with Homewyse is that the estimates are not always accurate, which means investors shouldn’t solely rely on Homewyse when making projections. According to another Homewyse review, it’s important to check with vendors and contractors to understand how Homewyse’s data may differ from their estimates. 
  • Free Version May Not Be Enough: Homewyse has both a free version of its software as well as a premium subscription. Unfortunately, the free version doesn’t come with some of the advanced features that most investors and contractors would find useful. Free users won’t be able to take advantage of project management templates, list summary items, data backups, priority email support, or customized logos and branding.
  • Learning Curve: Homewyse is an intuitive platform that’s easy to use for most real estate professionals familiar with the industry and how to estimate costs for projects. However, those without much experience in the space may face a steep learning curve when using the platform and creating lists. Luckily, there are plenty of Homewyse tutorials that make it easy to get up-to-speed on the platform.

Homewyse Features

Here we list the features of Homewyse in this comprehensive Homewyse review.
Here are the top features of the Homewyse platform.

We already went over some of the benefits of Homewyse and touched on some of its most appealing features, but let’s dive deeper into how Homewyse can help you reach your goals as a real estate professional this year. 

Homewyse Lists

Contractors and investors need a comprehensive way to compile their estimated costs into one easy-to-access list for each project. With Homewyse’s free plan, users have access to 10 saved job lists where they can add the cost of materials and installation for each project. 

Homewyse lists allow investors and contractors to customize each list for the specific job they’re working on. For instance, investors might use the same materials for each kitchen remodel or have a specific painting list for bathrooms on each project.

» MORE: Get Started with Homewyse

Cost Calculators

While lists make it easy to categorize each project and the costs associated with them, the cost calculator is the meat and potatoes of Homewyse where investors and contractors receive an estimate on how much each project will cost before adding them to the list. 

Using the cost calculators, investors and contractors can find out the estimated costs for:

  • Cleaning, maintenance, and repairs
  • Lawn, garden, and landscaping
  • Water heating and filtration
  • Damage restoration
  • And much more!

With customization options, Homewyse lets real estate professionals estimate costs based on their specific requirements for each project.

Project Management Tools

Aside from estimating costs and compiling data into lists, real estate professionals also need a comprehensive project management tool to coordinate the various moving parts for each project. Luckily, Homewyse has all the tools you’ll need to manage each project.

You’ll have access to an intuitive calendar for scheduling tasks as well as a to-do list and progress tracker to make sure you stay on track for all your projects.

» RELATED: 7 Tips for Real Estate Lead Generation

Project Database

Not sure where to start on your next project? Homewyse has a project database that helps real estate professionals get started on their upcoming projects with templates and tips for success from other contractors.

Homewyse Pricing

Like we mentioned, Homewyse has two options for real estate professionals looking to get started with their project management tools and cost estimators. 

The first option is the free program with limited tools and capabilities. Along with 10 job lists, free users have access to basic project templates, 1200+ pre-built cost items, and the Homewyse mobile application.

Homewyse’s Lists Pro plan gives users unlimited saved job lists and the ability to combine lists for multiple jobs. This plan is best for contractors and real estate investors with a high volume of renovation projects and starts at $8.25 per month. 

Homewyse Alternatives

Looking for totally free options? Consider these alternatives.
Looking for other free options? Consider these alternatives.

Not sure if Homewyse is right for you? Real estate professionals have a number of other options when it comes to cost estimators and project management software.

  • Angi: One of the most well-known home improvement websites is Angi (formerly Angie’s List), which provides real estate professionals with many of the same tools as Homewyse. While Angi’s cost estimator isn’t as robust as Homewyse, it’s a free tool that many real estate professionals find useful. They also specialize in connecting users with reputable contractors throughout the US. 
  • NerdWallet: Another free option, NerdWallet’s cost estimator is a plug-and-play tool that gives homeowners and contractors the ability to estimate the costs of their projects. They use location-specific data so you get an accurate estimate of material costs and labor in your neck of the woods. 
  • Houzz: Houzz is another great option that many homeowners and real estate investors use for design inspiration and cost estimation. Houzz also gives users access to a network of reputable contractors and service professionals in many major metro areas. 

Final Thoughts

When it comes to cost estimation for home improvement or renovation projects, we couldn’t find a better option than Homewyse. Their database simply has the most accurate information on the internet when it comes to materials, installation, and maintenance cost estimations. Additionally, the free Homewyse plan should be enough for beginner investors and real estate professionals just getting started.

However, keep in mind that Homewyse’s data isn’t always updated as frequently as some expert real estate investors require. In fact, another Homewyse review stated that their costs were so far off that they had to cancel the project altogether. Nonetheless, Homewyse is still a great place to start when planning out your next real estate project. 

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