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Hey Revscene. I know this is more about real estate and not renovations but there seems to be more traffic on here. Here's my story.
I am moving into my condo in kits after purchasing and renting it out right for 3 years. The building is 2001, about 800 sqt ft, 2 bedrooms, 2 bathrooms, and a den/storage room in the unit. The wife and I want to do some renovations to it before moving in and we are not sure what cost is ideal to do the whole apartment from bathroom, kitchen and living spaces and rooms, which is our ideal bucket list. We are both working professionals and work about 10 hours a day so in terms of renovating the place ourselves it's just not cost effective for us because of the nature of our jobs. We have been given two quotes so far by two contractors and one "seems" on the low side and one is quite high. Low end about 40k and high end 70k-80k to get what we want done. Our ideal time living in the apartment will be shortest 5 years middle 8 years and max 10 years depending on kids and extra space needed. The place does look dated and want to make it look fresh for us to be excited to come back home from our long hours of work.
Any advice or idea would be appreciated in terms of what is a good reno estimate that is cost effective for us to live in an updated apartment that we are satisfied and also how much is too much money to put in and not make any profit when we sell the place to purchase something in the future.
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