We are currently looking to buy this wonderfully crappy home around the corner from us for around $60,000. It is a 3 bed, 2 bath ranch style house that is a total of 1100 sq. ft. Prior to purchasing we are trying to figure out what a gut and redo of this place will cost. We know the following has to be done:

- Gut of all walls
- New plumbing
- Update wiring
- New kitchen
- New baths
- New floors (hardwood)
- Some carpet
- New roof
- Redo siding & front fascia

Here are some items that we are trying to figure out that I have not found a ton of reliable data on:

- Tank less water heater cost & install
- Bamboo hardwood cost and install
- Foam/blue jean insulation cost
- Green shingles
- Solar install
- Gray water system install

Has anyone done something similar in their area? We are looking to budget about $50,000 for all of the items needed, and need to know if this is reasonable or just plain crazy.

Thanks for anyone's help. We are in the burbs of Chicago if anyone has good contacts as well.

I would estimate at least $80,000-100,000 to have it all done. I think it will be the higher, judging by my previous experience. It could be more if you are installing solar…solar alone will run you minimum $20,000 for an average family of four usage and all the panels, batteries, inverter..etc needed. I would skip this part or add it on top of the hundred thousand.

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