i'll venture a guess of $175 per sq ft. for a total gut and makeover inside and out. but or course, it depends on your taste, i.e. granite cost a lot more than formica.
don't build a $2 million house in a $500k neighborhood.
I work with many investors that renovate foreclosures & homes in need of major repairs including old homes with un-functional layouts. From our experience, doing a gut renovation gets more complicated with an older home due to often all electrical, plumbing, & utilities needing to be updated once you open up the walls.
Also, when you are opening up walls & doing major renovations, you will run into additional problems you did not expect to come up, & also need to get permits from the city (Which can sometimes take a few months to get approved after hiring an architect to draw plans).
We have found that because of many of these issues, that a major renovation can take around 6 months if you have an excellent crew working daily... or even longer if you are just doing a bit at a time or have contractor issues.
An alternative to this if you have a full time job & cannot dedicate the time it would take to complete a major project like this in a timely manner is in working with me & my investors to do a custom renovation FOR YOU. This would allow you to dictate exactly the kinds of finishes, layout, etc you want in the home without taking the additional risk & time involved in managing the construction yourself.
Let me know if I can be of assistance to you.
Real Estate Agent
Exit Realty Redefined
That was fun....now all kidding aside, the above is a good starting point and checklist.
"Lester the Lister"
oh oh! did I forget to check the attic? I hope there is no seepage in the basement!