True, the time and agony component of a more thorough renovation is pretty high, but people are still willing to pay a crazy premium for a home that is moving-i

True, the time and agony component of a more thorough renovation is pretty high, but people are still willing to pay a crazy premium for a home that is moving-in-ready. Crunching the numbers, factoring in labour and materials and handymen and extra time off needed, I definitely came out on top. And financing it was a breeze, my bank had no issue increasing the mortgage to cover the renovation, because they knew the apartment would go up even more in value. This was 2003 though, it might be much tougher today.