Investing in a home remodel is a big undertaking. There are many benefits to upgrading your home and most homeowners want to know the return on investment before signing on with a contractor. As a realtor in Highland Park, I have worked with many clients who consider home remodeling before putting their home on the market, or buyers who factor in the cost of renovation when purchasing a home.
Upgrading different areas of the home will garner varying ROIs and understanding the risks and benefits are important for any homeowner before taking on a project. The Remodeling 2014 Cost vs. Value Report (www.costvsvalue.com) evaluates Chicago and the surrounding suburbs, including Highland Park, on the various remodeling projects and their respective returns on investment.
According to The Remodeling 2014 Cost vs. Value Report (www.costvsvalue.com), the greatest returns come from exterior and insulation upgrades. Vinyl siding replacement can help you earn up to a 73 percent return, vinyl or wood window replacement up to a 74 percent, and a front entrance door replacement in steel or fiberglass can earn up at an 82 percent return on investment.
All of the upgrades listed above can help reduce energy costs and bring monthly expenses down for homeowners. Energy efficiency is growing in popularity on the list of requirements that buyers consider during their home search. Larger interior upgrades also garner a strong return on investment and can add to lowering those energy costs via energy efficient appliances. A major kitchen remodel in Highland Park can earn up to a 67 percent return on investment, and a minor kitchen remodel up to 76 percent according to The Remodeling 2014 Cost vs. Value Report (www.costvsvalue.com).
Throughout my career as a realtor in Highland Park, I have developed established relationships with local contractors and experts in the remodeling industry. If you are interested in learning more about taking on a home renovation project, feel free to contact me anytime at FranciePinkwater@gmail.com or 847-681-4159.