Chitownproperty

From the New York Times this week, Americans poured a record amount of money into home remodeling projects, but even experts can’t predict how much value that money spent adds to a home. Kermit Baker, a senior research fellow at the Joint Center for Housing Studies at Harvard, said that said researchers at the Harvard center “threw up their hands” after trying to determine the return on investment of remodeling projects. Studies that project return on investment can only measure national or regional values, and the return on remodeling jobs can often hinge on the markets at the neighborhood level. The real key is to value remodeling projects by the enjoyment you derive from them, and not for their financial return.