So do you decide to put the house on the market and move or stay and remodel?

Although returns on remodeling have decreased from 2006 to 2007, the decline has slowed.  According to the CRS magazine, remodeling is still a good investment w/ two-thirds of the 29 upscale and mid-range projects evaluated by the study returning 65%-80% at resale.  That means homeowners are paying 20 cents to 35 cents on the dollar for more and better space in their homes.  5 of the 6 projects that earned cost-recovery rates of more than 80% were exterior improvements. 

Here are some interesting stats and facts regarding remodeling’s cost to recovery rate:

Home improvements with the highest returns:

88% ~ Upscale siding replacement with fiber cement materials

85% ~ Wood deck addition

83.2~ Midrange vinyl siding replacement

83%~ Minor kitchen remodel

81.2%~ Midrange wood window replacements

81%~ Upscale vinyl window replacements

Home improvements with the lowest returns:

57% ~ Home office remodels

58% ~ Installation of a backup power generator

59% ~ Midrange sunroom addition

What do you prefer, a remodel or move and why?  Would love to hear your comments!!