Saturday, October 31, 2009
Remodeling? It's a waste of money
Posted by: Lily Mei
By Liz Pulliam Weston
There could be one upside to the real-estate implosion. Plunging prices finally could shatter our national delusion that home improvements are somehow an "investment" in our homes.
Think about it:
* With a real investment, you commit your money and hope to make some kind of profit.
* With remodeling, you're all but guaranteed a loss.
Even at the real-estate market's peak, most remodeling projects didn't pay for themselves.
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