[seanmcdirmid]

That is the norm in china. In fact, renovated homes cost less than unrenovated ones because no one trusts anyone else's renovation (lots of cheap toxic crap), so it is understood that new owners would re renovate anyways. Basically, everyone just wants a concrete box. Renovations are quite cheap and quick however with the appropriate migrant worker (though see above, you have to be careful they don't use cheap toxic crap).