Dear community members, I am looking to purchase a small 1 bedroom apartment (400sq ft) in Manhattan which needs complete gut renovation. In particular, the kitchen and bathroom need complete redoing. I am pretty sure I have to bring the electrical wiring up-to-date also. The bedroom will need few nice wardrobe /clothing cabinets, as well as I want to open up the bedroom wall to get sliding doors... [more]
Dear community members,
I am looking to purchase a small 1 bedroom apartment (400sq ft) in Manhattan which needs complete gut renovation. In particular, the kitchen and bathroom need complete redoing. I am pretty sure I have to bring the electrical wiring up-to-date also. The bedroom will need few nice wardrobe /clothing cabinets, as well as I want to open up the bedroom wall to get sliding doors to increase the usable space and more light into the living room (living room has only one window and hence is a bit dark). I'd like to replace floors in living room and bedroom if it fits in the budget.
I dont want go all out and get fancy stuff - I am looking for budget options only. I want to renovate such that if I want to sell in a few years time (5years or so), the apartment will be in a decent enough condition to demand a good price, without going crazy on renovations right now. It is my starter home, so I want to be very cautious.
Could you please advice on how much money I should plan on keeping aside for this? I am a newbee, so any advice on how to do research, get contractors etc. will be welcome.
Thank you for taking the time to read my question.
Have a great day!
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