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Reply to "Do we buy the abandoned disgusting house?"
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[quote=Anonymous] We were in a similar situation and bought a fixer-upper/tear-down in 2010 in our desired location. Gutting the first floor to the studs (with new kitchen and new bath), renovating the upstairs bath and finishing the basement cost us about 150K in 2011. So please be VERY careful when estimating your renovation costs. It costs more to renovate an existing space than it does to build new, because of the constraints of the remaining structure. However, if you manage to stay within your budget and not lose your sanity through the reno, it's a sound financial choice! [/quote]
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