Foundation estimate in San Antonio

[David McNierney]

I am evaluating a real estate investment in San Antonio that has some foundation issues. My agent received an estimate for $22k. Since I am new to the market, I just wanted to get others' opinion on if that figure sounded correct. Thanks

[Seth Teel]

I have gotten foundation bids on 100+ homes in the last 4 years in San Antonio.  Only a handful of properties (less than 5) have had a legitimate foundation bid over $20K.  So, this seems high to me.  There are several factors that effect the price of foundation bids:  Foundation type (slab or pier & beam), If the property is occupied or vacant, number of square feet, if it's one story or two, how busy the contractor is, whether the contractor is a retail or investor-friendly, and a few other factors. 

The property in question is it slab foundation or Pier & Beam foundation?  How many square feet is the home? Is it one or two stories?  Will the home be vacant when they do the work?  

I had the foundation completely redone on the property I live in.  Removal of old piers, installation of 85+ new piers, several new beams. This is a single-story home coming in at 2,175sf.  The cost was $22K.  That was the most expensive foundation I have ever done. I had two cheaper quotes, but I wanted it done correctly and I paid for it.  Most foundation bids come in between $7K & $12K, with $15K being high, and $20K+ being outrageous.   

For a quick reference when I run my estimates, I take the bottom floor square footage divide by 49 (as piers are supposed to be no further than 7 feet apart on a single story) then multiply by $350.  I add $400 for permit, and $500 for Engineer's report. If the property has two stories, piers should be closer, I usually up the number of piers by 15 - 20%.  

For example: I look at a house that is single-story, 1,150sf, pier & beam foundation. I Divide 1,150 by 49 = 24 piers, multiply by $350 = $8400, + $900 for permits and engineer's letter.  TOTAL COST = $9300.  This is a bit of an over estimation, but it helps when running numbers quickly.  

Hope this helps.