April 3, 2014 at 4:09 PM ET
Homeowners spent $130 billion on remodeling last year -- the largest amount since 2007 -- and we're still opening our wallets. Harvard’s Joint Center for Housing Studies expects double-digit gains in this spending category through the remainder of this year.
According to the annual Cost vs. Value report from Remodeling.com, when you sell your home, you’re likely to get back as much as 97% of the money you spent (back) on some improvements -- but only around 50% on others.
To put that in perspective, it means if you spend $25,000 on a project, you could see as much as $24,250 – but also as little as $12,500, in your sale price.
That argues for spending your remodeling dollars carefully. It's tricky business. So test your home improvement smarts now in our quiz, then tune into our 9 a.m. hour on Friday to learn even more!