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How much should I spend on renovating?

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  • How much should I spend on renovating?

    I am an IT professional working in an MNC. I was staying in my house in Toronto. I am planning to shift to Richmond Hill. I found a new condo which is ready to occupy by the end of this year. At the same time, I found a house which can be occupied by September. But the deal is that the house should be renovated. I think that the electrical and some structure part should be renovated. The house was built 30 years ago and no renovation or maintenance was done from the owner's end. The house is around 2000 Sq Ft. If I buy that house, how much should I spend on renovating the same? Which will be better, buying a condo or buying a house. Help me here with the best of your knowledge.