Newsflash: Advise! Buy or Not Buy?

I am 23 with a full time job but looking for a new job in my career field. My grandparents are moving and looking to sell their house. The house is worth 300k but they would sell to me for 200k. I would be living in the house with my sister and together we bring in around 60-70k a year. We both have around 15-20k in the bank. The house is a 3 bedroom, 2 1/2 bath, on 1 acre of land. Connecticut. The house needs some renovations such as; 1 full bathroom, 1/2 bathroom, minor kitchen updates, possibly a living room update as well. I am trying to get an idea if we would be able to afford it. Rough idea of how much the renovations would cost. Is it worth the investment? An idea that crossed my mind was to buy, renovate as much as we can ourselves, then sell. Quickly looking at everything, it seems like a win win since the house is worth much more than we are paying for it. Also this would be our first home so what other expenses could we expect to have? Any advise on the subject would be very helpful! Thank you.



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