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Some say you can mix it 50/50 or so with new soil. Roots can be left in I think...but looking at total costs and all why not just buy quality soil fresh?
I have used it before, without mixing in new soil. It works ok, but watch out if you use chem based ferts. Build up in the soil can be deadly.
On the other end, totally depleted soil, without the use of additional ferts, can make for undernourished plants that wont grow to potential. I did it indoors a couple runs, and decided it's best to flower plants in fresh soil. I still do re-use to transplant clones and small plants into larger containers.
I have done it outdoors with great success. Dumped the year before's soil out into a pile. got rid of the rootball, and planted directly inot the pile. No new dirt, no amendments. But I did feed the second year with jacks classic.
In peat based soil mixes the lime washes out, need to add about 1/2 cup per cu / ft I think approx.
I have literally just enzyme'd the shit out of it and cut the old stumps out and planted the holes, but it took about 7-10 days for the ph to even out from steady feed water with proper ph....plants went yellow/purple for that time from lush in cups.
Better to screen it and mix in coco(fixes some ph imbalance) and worm castings and perlite at about 30-50% with old soil. But yeah is doable, there is quick lime too you could just water in, maybe pyro-clay like stuff be enough?
You do loose a bit of time if ph becomes issue, and probably a bit of yield, as well as chance of bugs mould ect. Unless your doing a proper re mix with some enzymes or organic material(I like the coco/ worm/perlite because it fluffs up the medium(but I use large pots)), you probably will loose more yield than cost of new supplies, but you also could gain knowledge and get more yield too!
As HatchBrew says, "yes" for organic living soil. Why would you not want to recycle your microbes? I mix 50/50 with new store-bought and the resulting mix is better than store-bought.