Intelligent Renovations for Homeowners

Author:	Lucas Jones
Source:	Homes Discovered
Date:	December 12, 2006

Many people who have recently renovated or remodeled their homes recently, either to increase the space or to add value to the home, probably already know that the costs to renovate are going up.  The cost of materials has been steadily rising so much that it may be difficult to recoup the costs of supplies in equity.  In addition to the material costs rising, home values are declining as well. As renovation costs rise and home values drop many people in Gilbert might think it is stupid to even think about adding an extra room onto the home.  Despite these factors many remodeling projects can fetch upwards of 88% more than it cost.  There are many different factors that will effect the amount you actually recoup but if done wisely, you can add much value to your home. The location of your home will also play a role in determining how much value a renovation adds.  For example a home on the west coast will fetch more for a bathroom renovation that a house in the midwest or great lakes states.  Also, construction resources will cost more or less in different places.  Still, renovating a home still adds more than enough value to the home to make it well worth it.  You may just want to stick to the renovations that are consistantly worth more in the end. The five projects that fetch the biggest payback are as follows, in decending order:  upscale siding replacement, midrange siding replacement, wood window replacement, midrange bath remodeling, vinyl window replacement.  Any of these things will add the maximum potential value to your home in Chandler.

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