| Title |
Profit/Cost Prediction Model for Economic Feasibility Assessment on Aged-Housing Remodeling Projects |
| Authors |
Kim, Wan-Hyuk ; Cha, Hee-Sung ; Shin, Dong-Woo ; Kim, Kyung-Rai |
| Keywords |
Aged-Housing Remodeling ; Profit/Cost Prediction Model ; Decision-making ; Hedonic Price Model |
| Abstract |
Most Aged-Housing Remodeling Projects are going with little expected profit lacking in certain types of index or standard for decision making. Due to the lack of knowledge for the remodeling, lack of profit caused by official disapproval for the vertical building extension, limitation of space caused by the existing building structure, unprofessional business subject and delay of remodeling business, the aged-housing remodeling market in korea have not been activated. Due to the slowdown in the remodeling industry with lack of relevant data, there is a shortage of research for evaluating profit and cost of aged-housing remodeling projects. In this study, the authors suggest that aged-housing owners can take advantage of the early decision-making process in terms of feasibility and Profit/Cost Prediction Model on aged-housing remodeling. For this purpose, literature review and interviews with experts in remodeling factors affecting profit and costs are analyzed. Based on this analysis, the evaluation items and criteria are established. Through case studies and multiple regression analysis, profit/cost prediction model for aged-housing remodeling projects is proposed using Hedonic price modeling method. |