Cost of down to studs remodel?

Profile picture for gemster

Hi all,

I am thinking of buying a fixer-upper in the SF Bay Area.  How much would you guys estimate a down to studs renovation in the bay area would be, $/sq ft?  Complete gutting of an interior and re-doing most of the exterior as well (but keeping a few walls and the foundation)?

Also, is it possible at all to get a loan for this kind of work, at the same time as getting a loan for the house purchase?


Thanks!

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September 05 2010 - San Francisco
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Answers (6)

Profile picture for John Lombardi
more importantly than just getting estimates, go and find a contractor who is reliable and highly referred
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September 08 2010
Profile picture for Timber Creek Const.
Complete knock down rebuilds go for around $225 per square foot.
Everything else depends on how much you are tearing down and rebuilding.
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September 07 2010
Profile picture for Tim Gullicksen
No, there aren't loans available that will cover the cost of the sort of remodeling you have in mind.
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September 07 2010
Profile picture for nwhome.us
Have a look at Remodeling Magazine's site and the Cost vs Value Report for SF.
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September 06 2010
Profile picture for Marvinloans

Yes, the type loan you are looking for is an [link removed by moderator]  but the full 203k not the streamline which will allow you to purchase and do a complete rehab.

The cost per sqft. would be better answered by a contractor in that area which you can find on the state contractor board website if you don't already have a personal referral.

Good luck.   
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September 06 2010
Profile picture for rktekt
I would look into 203K FHA loan, but you are rebuilding a lot there, may not be enough money available that way. As to costs, I would check with a local contractor. Anyone on here who gave you a number would be guessing and if you relied on that you would be in potential hot water. You will need estimates / bids for your loan anyway.
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September 05 2010
 

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