The Markses chose their small home because of its prime location in Lake Oswego. They couldn't afford a new house in Lake Oswego and weren't interested in new houses elsewhere on small lots, Susan Marks said. We knew it wasn't a fabulous house. That was three years ago, and their decision to remodel the 1951 ranch-style home came when they needed a new roof. The definition of remodeling is vast enough to include everything from installing a new countertop to a whole house remodel.
Few people spend large amounts of money on remodeling.
Those 9 percent were responsible for more than half of all home improvement spending. But few homeowners escape the remodeling impulse. A majority of homeowners who stay in a home 10 years make at least one remodeling improvement during those years, according to the Harvard study. One-quarter of those owners had undertaken a major addition, kitchen or bathroom project. Big-ticket projects fuel the industry and make for the kind of showcase projects that dominate the Tour of Remodeled Homes.