- Opening window, carving out an office in living room … are all doable according to FengKai.
- kitchen is expensive, typically 20-30k, according to JackHe.
- bedrooms are cheaper than bathroom, according to GregR.
Total? 100k is a common figure, but Wallace said 10k is a common figure. Before deciding on a budget, (as Alona’s colleague Bob pointed out) it’s better to list specific items, then prioritize them like
- furnish the basement to rent it out if legitimate
- carve out an office
- modernize the kitchen
Tim Yao said cost is much lower than XR’s experience.
— rental property renovation
It’s probably smart to buy a relatively old rental property, and pay lower tax, then invest 50k-100k to improve it, then rent out.
George Abdelmalak <gabdelmalak1@gmail.com>, a nice agent, is familiar with renovation, and told me renovation cost is at least 50-60k. Background — I told him that I want to buy a reasonably OK rental property and make it more comfortable more appealing for my tenants.
George also said extension to create 1 or 2 extra rooms cost 50k.