The remodelers are not disclosing costs, although some say their projects are in the half-million dollar range or above. They include full house remodels that are a huge logistical challenge to builders and homeowners. The home is on the tour of remodeled homes. You are spending real dollars you won't get back. If you want to make money, you should buy a mutual fund.
Demographic trends tend to favor a rise in demand for remodeling.
The average age of homes is rising, and home demolitions have fallen by three-quarters since the 1960s, the Harvard study reported. Locally, the huge run-up in housing prices during the '90s has given longtime owners plenty of equity to pay for remodeling. That's what I'm counting on.