Remodeling Returns
Have you ever wondered which remodeling project will bring you the greatest return on resale? There is an online web site that publishes, every year, the rate of return for many common projects. You can view free, the statistics for the Midwest region or if you are interested in Chicago, you can download the report, for a fee of $9.95. Contact me if you would like more details.
Here are the remodeling projects that will give you the greatest return, for the Chicago area:
Siding Replacement
Window Replacement
Kitchen Remodel
Bathroom Remodel
Deck Addition.
Coming in at the lowest end of return is:
Sunroom Addition
Bathroom Addition
Family Room Addition
A common upgrade to a home is to finish a basement. Whilst not the highest rate of return you should still expect to see a return of about 80% on your investment.
Interestingly our market fairs better than the national average rates of return.
From a real estate sales perspective, I can confirm that kitchens and bathrooms sell houses. Buying a home is a very emotional activity and if some-one falls in love with a kitchen or bathroom, they are more inclined to overlook, or be prepared to 'deal' with, any other issues.
Stay safe in this nasty winter weather storm, let's hope it will be the last for this winter season!
Regards,
Corinne Guest.