Rating Newest Oldest. Best Answer: The lowest price I've found in Southern California is $125.00 per square foot which is extremely reasonable. Most builders charge more than that. That price is for a 2000 square foot ranch style home with three bathrooms, and a three car garage.est Answer: The lowest price I've found in Southern California is $125.00 per square foot which is extremely reasonable.
Normally, the patching, painting, and floor work are repairs and the other expenses are permanent improvements. However, because the work gives your property a new use, the entire remodeling job is a permanent improvement and its cost is added to the basis of your property.
If you have less of a gain, you're more likely to fall within the exclusion limit, and if you're gain isn't excluded, you'll pay taxes on less. It's a good deal all the way around. You can deduct any reasonable and customary expenses to get your house sold, and yes, this includes painting. 1  It also includes all those fees you pay at closing, plus any improvements that prolong the useful life of the house. The IRS says that the following improvements will increase your cost basis in the house: 1  Additions and other improvements that have a useful life of more than one year. 2  Special assessments for local improvements. 3  Amounts you spent after a casualty to restore damaged property.