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Decisions to Renovate and to Move


  • Pnina O. Plaut

    () (Technion – Israel Institute of Technology)

  • Steven E. Plaut

    () (University of Haifa)


Housing renovation is the main alternative means of housing supply besides construction of new housing. Relatively little is known about the factors that affect decisions by households about whether to renovate and which sort of renovations to undertake. These questions are explored empirically. Separate analyses are conducted of the decision to undertake "major structural renovations" as opposed to other sorts (such as remodeling the kitchen or bathroom), and also of the decision to conduct renovations that add to the living space of the housing unit. Financial, household and geographic factors affecting this decision are analyzed econometrically.

Suggested Citation

  • Pnina O. Plaut & Steven E. Plaut, 2010. "Decisions to Renovate and to Move," Journal of Real Estate Research, American Real Estate Society, vol. 32(4), pages 461-484.
  • Handle: RePEc:jre:issued:v:32:n:4:2010:p:461-484

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    References listed on IDEAS

    1. Joseph Gyourko & Edward Nelling, 1996. "Systematic Risk and Diversification in the Equity REIT Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 24(4), pages 493-515.
    2. Joseph Gyourko & Donald B. Keim, 1992. "What Does the Stock Market Tell Us About Real Estate Returns?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(3), pages 457-485.
    3. Joseph Gyourko & Donald B. Keim, "undated". "What Does the Stock Market Tell Us About Real Estate Returns? (Revision of 18-91) (Reprint 030)," Rodney L. White Center for Financial Research Working Papers 11-92, Wharton School Rodney L. White Center for Financial Research.
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    Cited by:

    1. Munneke, Henry J. & Womack, Kiplan S., 2015. "Neighborhood renewal: The decision to renovate or tear down," Regional Science and Urban Economics, Elsevier, vol. 54(C), pages 99-115.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services


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