By Steve Graham, Networx
Thinking of remodeling a house to raise home value? Return on investment calculations for remodeling are complex and inexact. That doesn't mean you shouldn't do home additions and improvements to raise home value, but you should do thorough research first. Once you establish a firm cost estimate for a home remodeling project, consider the return value in terms of both personal enjoyment and real estate value. Neither can be precisely quantified but you can reach a rough estimate of the return on investment. Seek out expert advice and reliable figures, but also ask for local anecdotes. And always remember the real estate rule: Home value always depends on location, location, location.