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Remodeling Can Pay Off Illinois

Smart home improvements can make your home more valuable.

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Magik Property Service Corp.
708-233-6008
11 Enchanted Garden
eureka, IL

fixawindow.com
773-777-4537
782 Brookstone Rd
Grayslake, IL

C T Gabbert Remodeling & Const Inc
(309) 637-2110
1323 Sw Adams St
Peoria, IL

C.T. Gabbert Remodeling & Const., Inc./
(309) 637-2110
1323 SW Adams
Peoria, IL

CabinetPRO, Inc.
(847) 559-1095
710 landwehr rd
northbrook, IL

Ron's Carpets Inc.
(309) 674-3338
1003 NE Adams Street
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Tony's Formica Shop, Inc.
708-389-5171
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GreenWerks- Chicago Green Remodeling
312-345-1700
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Jim's Handyman & Remodeling
815-757-0643
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C.H. CONSTRUCTION
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ELGIN, IL

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A major home remodeling project can be a great investment. In fact, some types of projects in certain regions of the country can recapture more than 100 percent of the cost by making your home more valuable.

A recent report in Remodeling magazine revealed the national and regional average costs and percentage returns of popular home remodeling projects. The averages, which are given for upscale and mid-priced projects, are good relative indicators of which home improvements may be good choices for homeowners who want to recoup their costs. These figures shouldn’t be taken as a guarantee of a specific return on an individual project, however.

Top payoffs vary among U.S. regions
Four mid-priced remodeling projects returned more than 100 percent of the cost, on average, in the Pacific region. Those projects were a minor kitchen remodel, bathroom remodel, wood window replacement and addition of a second story. Remodeling was a very good investment in the Pacific region, where every upscale and mid-priced project on the list recouped a higher return on average than the national average for the same project.

The top mid-priced remodeling project in the New England region was the replacement of vinyl siding, which returned more than 94 percent of the cost through a higher home valuation. The same project topped the list in the Mid-Atlantic region as well with an average return of 92 percent of the cost.

Three mid-priced projects recaptured slightly more than 90 percent of the cost in the South Atlantic region. Those projects were an attic bedroom remodel, basement remodel and the addition of a second story.

Vinyl siding replacement also topped the list of returns on mid-priced remodeling projects in the East North Central region and the East South Central region, with a return of 81% for the former and 105% for the later.

Home offices offer least return on average
A remodeled home office might be a great boost for a home-based business, but this project offered the least attractive average return of any remodeling project on a national basis. The average cost of a mid-priced home office remodel was $20,057 and the average return on that cost was $12,707, or only 63 percent. The home office was the lowest-ranked project on this scale nationally in 2005.

Lifestyle should trump investment potential
Regardless of the return on investment, a home remodeling project should be a personal choice that is unique to you and your home. While the likely increase in the value of your home as a result of improvements is worth consideration, remodeling should suit your needs as well as your lifestyle.

Published on May 30, 2007

Read full article at realestate.com

Featured Local Company

Magik Property Service Corp.

708-233-6008
11 Enchanted Garden
eureka, IL
http://il.local.yahoo.biz/propertyservicecorp/

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Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History