To remodel or not remodel, Tis the question......

Have you ever wanted to remodel a room or perhaps a whole house? 

Here are two major principles to consider.

Physical deterioration:  Can it be repaired/replaced economically?   Will the cost to cure the defect result in an equal or greater increase in overall property value?

Functional Obsolescence can be the result of a deficiency, the presence of a feature that should be replaced or modernized or the presence of a feature that is super-adequate for the structure's intended purpose.  If the cost to cure the defect results in an equal or greater increase in overall property value  than it is considered to be curable functional obsolescence.

Here is a link to an excellent PDF put out by the appraisal institute about remodeling.

 http://www.appraisalinstitute.org/resources/downloads/brochures/Rmdlng_n_Rhab.pdf