To help homeowners get the most out of an update, Remodeling Magazine compiles an annual Cost vs Value Report, which shows national, regional and major metro trends for a variety of popular home improvement projects. Within the East North Central Region, our neighbors to the east, Arlington Heights, was included within the data gathered for the greater Chicago area. Being in such close proximity to one of the coverage areas, homeowners in Palatine, Inverness and Rolling Meadows can also benefit from what the 2017 report reveals.
While some home projects tend to have a strong Return on Investment (ROI), others do not. In looking at the Core vs Value Report for the Chicago Metro area, the exterior of homes is where design trends are paying off. While they can have a high initial cost, the replacement of doors and windows can have a big impact on the value of a home; at the time of a sale, and also through improved energy efficiency. Midrange homes with a new steel entry door can see up to 104.4% ROI, while upscale properties can get upwards of 68-70% of a return with wood or vinyl window replacements.
Stone veneer siding for midrange homes is another project which can really pay off. With the variety of options and additional protection now available with stone veneers; this type of project can see up to a 104.5% ROI. For upscale homes, it is the garage door which can be an excellent investment. This is due in part to the rise of innovative designs being incorporated into the garage, taking it beyond functional, and including it within the finer aspects of the architecture.
Fiberglass is a great insulator against the heat of summer and cold of winter. The popularity of this material within homes is evident in two of the top remodeling projects for our area. Adding in fiberglass insulation to the attic space of a midrange home can bring up to an 88% ROI. Installing a new fiberglass door to the grand entryway of an upscale home will garner up to 70.6% return.
Home remodeling projects can add value and appeal to your home. Focusing on updates with a strong ROI can help you get the most for your time and money spent, as well as the sale of your property. When you are ready to buy, or sell, you want to work with a Realtor® who cares about the community as much as their clients. We are ready to put our expertise to work for you. Learn more at our website, DriscollProperty.com, then contact the Driscoll Properties Team at 847-533-6786 to help you discover the home of your dreams.