Hunter Gathers
The Crown
I'm sure you've gotten all the advice you can handle, but I'll throw something else out that I learned during the process a couple years ago (could be obvious to others i guess).
It's a lot easier and cheaper to fix a mess outside than it is inside.
We bought a house my wife said absolutely not to when we first pulled up to look at it. In fact 2 friends had sent us the listing, and based on the pictures we waited a month to even see it. Overgrown backyard, bad landscaping - just generally not well kept outside. The inside was fine with the exception of a couple small things.
I got a new fence, a new patio, cut a ton of trees down, and rented a tiller to fix up the lawn. I'm still doing landscaping upgrades but it's nothing compared to doing major work inside. You could spend 15-20k transforming a disaster backyard into a great area. What's that getting you inside? Prices to upgrade a bathroom or kitchen are insane.
This is good advice. Go for the house with the updated interior. **** the outside. If you're a desk jockey like me, yard work is good exercise.
I'll answer both with the same post since it's easier. This is all great advice. We basically decided that on the way in, too. The place already has the major reno done that we'd want to do (brand new kitchen and both bathrooms done). The sellers are taking care of about $20,000 worth of needed reno prior to the sale (some support work and such) that has to happen to get the CO.
There's some landscaping that needs to be done and the house may need some paint, but the big, expensive reno work that we'd have to do to enjoy the place is at least accomplished. And after the work that the sellers do goes through, basically all of my concerns will be gone as long as its done properly.
The appliances alone in the kitchen that were installed are worth about $20,000 (we are talking elite level appliances that must've been a gift somehow).