Only one way to find out. As long as you are prepared to go up if they counter and you really want the house. If that is the top of your budget then be prepared to walk. I would personally think the reno cost would be in the middle as they both probably off some. Both trying to be safe.

Thanks! That gives me the confidence to move forward.

Plan on a minimum 20% cost overrun on renovations. Surprises are found when walls are opened up, "while we're at it" additions will increase the costs, and so on. In other words, that $100-$150 is going to end up being $120 - $180 or more.

I think I’m comfortable with 120 to 180 but 300 is a Dealbreaker

Include a contingency for inspection in your offer. That will give you an out if the realtor is more right than the contractor. Is the contractor willing to give a fixed price contract?

Don’t expect the 150K to be a real number. Expect the 300K to be closer to the real number. If 150K was real, the house would have long since sold. Long since. Everyone looking at it knows something that Mr 150K seems not to. Therefore his number is bad.

The catch phrase is "depending on finishes". If you did not discuss what finishes you wanted that estimate means nothing. ProSource is correct if that was all that was preventing the sale it would have been gone. Look for major flaws rather than "pretties".

Offer 287K . See if they even counter - you need plenty of buffer if the surprises are severe

We ( my wife and I) were just discussing 275 ... but definitely under 300

I think that is a good idea - you just never know - the house next to mine was trashed, In mint would have been 265K. Sold for 128K . The stories the new owner told us about the reno were unreal - chicken bones and needles (insulin) in the ductwork... I could go on an on... Best Wishes - Where in NJ? (my old stomping ground - Demarest)

Start at $250 and see where it goes.