Renovations may or may not be a good idea. Consider the improvements you make may put your home out of reach in your neighborhood. When undertaking large remodeling projects, it is smart to research your local real estate market to find out if your project will return your investment when it is time to sell. Depending on where you live, the right project may return 100 percent of your investment or it may be less then 50 percent. That is why research is the smartest way to begin any remodeling project. For example, a remodeled kitchen raises your home value by 10 to 15 percent, it pays. The more "sweat equity" you put in, the lower your costs and the higher the rate of return.