What's the advantage of keeping a couple of walls when rebuilding

[Peter Navid]

Hey guys,

I'm planning to convert my 1 story 1000 sqrft home to a 2 story 2200 srft home, in los angeles, CA.   My house is so old that financially it's not worth keeping anything. But I hear there are benefits (tax & ...)to keeping some parts to declare it as a remodel to city/state. 

What are the benefits and how do i figure out more details about it?

Thanks,

Peter

[Account Closed]

Originally posted by @Peter Navid:

Hey guys,

I'm planning to convert my 1 story 1000 sqrft home to a 2 story 2200 srft home, in los angeles, CA.   My house is so old that financially it's not worth keeping anything. But I hear there are benefits (tax & ...)to keeping some parts to declare it as a remodel to city/state. 

What are the benefits and how do i figure out more details about it?

Thanks,

Peter

 In some cities, keeping a wall or two (whichever they specify locally) makes it a remodel instead of a new build. The plan approvals are usually faster and cheaper. The problem is that the tax records will still show the original construction date and you won't get the benefit of marketing it as a new house.