Appraisal vs BPO

[Bryan M.]

I was recently gifted a home through a family member that needs a complete interior rehab....great bones but needs updating. To determine my budget I need to find what it's worth "as is". This property hasn't been on the market in decades. Should I go with a full appraisal for $300 or a BPO which would be cheaper, not sure on how much cheaper yet. I guess my question is....is it worth it to spend a little extra money to get an exact valuation or spend less and get just a rough estimate? Thanks!