Need help on estimating rehab cost in San Jose

[Thomas Kwan]

Hi there

I am looking at a San Jose property where it needs major repair. Is it fair to assume $250 per sqft be the cost? What is the best, avg, worst scenario?

Also wonder how long will it take to get expansion permits from the city.

thanks for your help

[Peter K.]

Hi Thomas 

Good to see another South Bay / San Jose member on BP.   

The answer is...it depends.   Haha , don't you hate that?  It will depend on things like, are you adding s.f. on the same foundation, or need to expand foundation?   Are you in the city limits with sewage or septic? Etc.  

I usually spend between $30-50 per sq foot for a major, studs out rehab.  This does not include adding square footage.  But it does include moving walls, adding beds or baths within the same footprint, new everything including kitchen, baths, floors, permits, etc. 

Cost of adding adding square footage can vary dramatically but in San Jose for a median priced home, should range between $100-200.  Things like high end fixtures, new driveways, can add up really quick, so beware of any major expenses. 

Having a couple of contractors bid the job would be most accurate estimate.  Or if you just need a quick estimate to see if the numbers work on an oppty you could use the following...

Existing sq ft x $40-$50   

Plus additional s.f. x $100-200 

This should give up you a conservative range that you can probably improve on.  

Good luck!