Getting A Bigger Bang for Your Bucks
Thinking about a remodeling project or two now that the holidays are history? According to a report by the National Association of Realtors (NAR) and Remodeling Magazine, all home improvement projects are not created equal. Costs for labor and materials are up from last year, and the rate of return for most popular remodeling projects is down. When making your home improvement decisions, consider projects that offer the highest resale value or biggest bang for the buck.
The 2006 NAR/Remodeling Magazine report cites the following as projects offering the highest rate of return on investment:
Deck Addition (76% return)
Major Kitchen Remodel (80.4% return)
Bathroom Remodel (84.9% return)
New Roof (73.9% return)
Family Room Addition (71.5% return)
Master Suite Addition (72.6% return)
Window Replacement (85.0% return)
And just in case you’re wondering about the least profitable remodeling project, put that home office renovation on the back burner.
Life-Saving Law
On January 1, 2007, a new law requiring carbon monoxide detectors in homes was signed by Gov. Rod Blagojevich. Under the law, all buildings that use fossil fuel and have sleeping rooms or an attached garage must have an approved, working carbon monoxide detector installed within 15 feet of any sleeping area. Homes that have all electric appliances, don’t have a fireplace or an attached garage are exempt.
Known as the silent killer, CO is an odorless, colorless gas produced by incomplete burning of fuel, such as propane, natural gas, kerosene, gasoline, oil, wood and charcoal. Sources of CO in homes can include malfunctioning gas-fired appliances, space heaters and chimney flues. Each year more than 500 people die from accidental carbon monoxide poisoning. Most deaths (64 percent) occur inside homes, according to the Centers for Disease Control and Prevention (CDC). For more information about this new law, visit www.illinois.gov.
Home-Made
If you’re in the market to build your next home, I can help guide you through the building process, from choosing a great neighborhood right down to the perfect lot location and floor plan. Real Properties offers a variety of lots to choose from in such outstanding communities as Springbank of Plainfield, Heartland Circle in Yorkville, and Downers Grove, IL. If you prefer, Real Properties Building Group can also build the home of your dreams on your existing lot. For more information, including floor plans and available lot sizes, visit our website: www.RealProp.net
