Assuming the renovations were done by a homeowner and not a flipper, it depends on the price.

Renovations are always more expensive than people think they will be. In many areas of the country it isn’t unusual for a quality kitchen and bath remodel to exceed half the cost of the home. Even lower quality materials can have decent lifespans. E.g. I installed the cheapest door handles I could find on my first rental property… they are still there and they were installed in 1990.

So, yes I would pay extra for budget renovations from a previous homeowner, as long as the price is attractive and they weren’t done with a profit motive. However, I would avoid flips or renovations to sell.

If the only things outdated are the kitchen and bathroom but they're in fine working order, then that's what I'd choose. Outdated is still safe and usable, just out of fashion.

However, if by "outdated" you mean poorly functioning or about to break, then I'd choose the cheap and functional over the poorly functioning, and replace things over time, according to my schedule and budget.

@bry911 Is there a way we could know how much renovations would be for a specific house that we would update? Even just a ballpark estimate so we know what we're potentially getting ourselves into.

@Toronto Veterinarian A general home inspector would spot those kinds of things right?

@Gyr Is there someone we could hire to find these? Or you'll never know unless you break down walls, drill holes, etc.?

" @Toronto Veterinarian A general home inspector would spot those kinds of things right? "

Yes - at least a good home inspector. But that doesn't mean everyone a) gets a good home inspection done, or b) doesn't accept the flaws and balance it against the purchase price (planning the changes).

The #1 rule in real estate is location. #2 and #3 are location and location. Base your purchase decision on location first (not just the zip code, but the location of the house/lot proper -- drive time to work and important amenities, negatives that affect value like proximity to a garage dump or less-than-desirable business or busy road, etc etc ).

From there, it just depends. What are the "bones" of the houses (i.e. layout)? Do they have all the "musts" on your lists. How many "wants" on your list to they have? Are the mechanicals in good working? Structural soundness?

In other words, don't be fooled by cosmetics. They're just that -- cosmetics, things that aren't top of the list in important things in the grand scheme of home ownership.

If all things pan out equally on the above considerations, I'd go for quality over cheap upgrades.

Do your homework and get good references when hiring a home inspector. In my state, home inspectors are not licensed, there is absolutely no recourse if something consequential was missed on inspection unless it can be proven that the seller did not disclose according to law. I got burned with a cr*ppy home inspection, 10 years in and I'm still paying for all the stuff he missed. DH and I do not have the knowledge to have uncovered some of the major issues we've encountered since living here, but that's a story for a different post...

No question - outdated. I would hate to live waiting for the other shoe to drop on what is breaking next. There is the cheap renovation you can see and there are the horrible choices or ignored issues behind the walls and "under the hood" that you will be living with too. Cheap renovation is a bad sign.

Buy the outdated home if the systems and appliances are working. As annoying as renovations are, you end up with what you like. Taking out cheap work is expensive and I’d be concerned that other critical things (heating and air conditioning, appliances, plumbing) are also in cheap condition.

Ask other homeowners for a referral to a good house inspector (and who to avoid). Be aware of their limitations. There are some good ones out there.

It’s hard to give you ideas on the cost of any remodel. Your choices for new items will affect the price, as will the cost of the contractors. A good contractor communicates well and that would be important to me.

The out dated house, (caveart) when was it built? There are decades when building was not. Think McMansions. We always looked at quality built homes, then renovate, Older homes can be jewels. Our experiences: 1911, 1840, 1967. All were a joy to bring up to date. 1911 and 1967 were custom builds. 1840? I guess you could call it a "custom" build....the beams, the random width pine floors, the root cellar, 5 fireplaces, a half Cape on Cape Cod.

Lovingly "renovated" home I once bought.

I thought, "ah, clean it up a little bit."

Tens of thousands of dollars later--including benching the foundation as the seller had undermined it entirely--I sold it for a profit. Big lesson: the fewer owners attempting to emulate all those dumb reno shows, the better!

Credit: RenoDuck

Outdated; I hate cheap renovations. You would probably end up having to replace the cheap renovations anyway in the near future so why pay for them?

Outdated. It isn’t really outdated, it’s well-built and doesn’t happen to be trendy. Anything trendy built recently will soon be outdated — if it doesn’t fall apart first!