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!!