I'd be up for the renno! Hubby and I have just purchased a 30 year old home to renno. We built the house we are currently in 3 years ago and it cost us a fortune!!! A lot of people look through display houses and think that's what they are going to get... WRONG!!! Like a pp said you forget about all the extras. The house we have bought is $100k less than what we owe on this one, not including all the extra money we have spent ob this one. Gardens $20k, air con, paint, upgrading shower heads, curtains, floor coverings etc.

There is no way our renno is going to cost us more than $100k and there is potential to make about $300k if done right. Just make sure if you buy a house to renno then you get a building inspection and pest control report done before you buy it.