Here is a summary of a recent interview with remodelormove.com founder Dan Fritschen.

·OK, Dan… the age-old question: I’m a homeowner… do I remodel my place or do I move?  Where should we start?  Do you have a list of questions we should be asking ourselves?
The questions can be divided into two large categories – the emotional and financial.
The emotional questions to ask yourself are do you like the yard, the neighborhood, the location?  Unless you are flipping houses just for financial gain – typically the emotional side of the equation trumps the financial.
The financial questions such as which is least expensive – or gives you the most return on your investment.  Be very careful when considering the financial considerations to include all the costs.  If your remodeling – dont over or underestimate the amount your home may appreciate due to the improvements.  For your moving cost calculation include all the costs of moving include added mortgage expenses, increases in property taxes, hiring movers, etc. etc.
Since the real estate market is becoming a sellers’ market today, how does that impact the decision to “remodel or move?”
Generally for the more expensive homes remodeling is relatively less expensive.
But since you are selling one house in a sellers market and buying another it is a wash cost wise.
Regardless of the market run the numbers of remodel or move and consider the emotional side as well as the financial.
Where is the invisible “line in the sand” where you would be foolish to spend too much money to fix up your current place?  Explain it for us – especially for the current home owners listening now…
If your house is already the nicest in the neighborhood then remodeling wont have any financial return.  Also if you may or will move soon you wont likely get the enjoyment out of the remodel so why put up with the headache?
Is there a group of homeowners that actually LIKE to remodel their homes?  How do they fit into the equation when they ask themselves, “should we improve or move?
Yes, there are homeowners who like to remodel and for them their is even more weight on the emotional side of the equation…i am one of those who likes to remodel .