Released on: March 18, 2008, 8:28 am

Press Release Author: Manbeer Singh

Industry: Construction

Press Release Summary: One of the best things you can do as a homeowner is to use
some of your home equity dollars to finance home improvements.

Press Release Body: One of the best things you can do as a homeowner is to use some
of your home equity dollars to finance home improvements. Not only will the
additions make your home more attractive and pleasant to live in, but certain
projects will bring a significant return on investment when the time comes to sell
your home. The following 5 projects have been proven to add extra dollars to the
average home resell prices. The statistics are courtesy of "Remodeling Magazine."
ROI stands for "return on investment"

1. Minor Kitchen Remodeling: Average cost = $8,655. Average ROI = 88%.

A minor kitchen remodel usually includes replacing the cabinets and countertops with
higher quality materials or increasing the total amount of cabinet storage and
countertop surface area. It would also most likely include the addition or upgrade
of appliances such as garbage disposals, built in microwaves, dishwashers, and
higher quality refrigerators.

2. Bathroom Remodel: Average cost = $9,135. Average ROI = 81%

This project would include things such as installing attractive countertops such as
stone, granite, or marble. The fixtures would need to be upgraded and the shower and
bathtubs should be resurfaced. Also, any tiling would need to be grouted. Other
things that could increase the value of a bathroom remodel would be adding an extra
sink basin, converting a bathtub to a Jacuzzi, or installing additional showerheads.


3. Major Kitchen Remodel: Average cost = 31,090. Average ROI = 71%

The major kitchen remodel is very costly and will take much more work than the minor
remodel. The major version will require all appliances to be replaced. Whenever
possible, appliances should be made in stainless steel. The countertops should be
made of stone or granite. The floors might be replaced with high quality laminate
flooring. The addition of a kitchen island or a centrally located stove could work.
For a major kitchen remodel, you should consult a contractor and possible an
interior designer. This is definitely not a do it yourself project.

4. Outside Deck: Average cost = $8,022. Average ROI = 55%

The deck is self-explanatory. The larger the deck, the higher the return on
investment will be. The deck should obviously be coated with a nice looking finish
that matches the outside of your home, and needs to be treated with a high quality
water seal.

5. Hardwood Flooring: Average cost = Varies. Average ROI = Varies

The cost and return on hardwood flooring varies greatly based upon the total amount
of rooms and surface area is remodeled. Also, the choice in the variety of hardwood
will impact the value. Certain woods like Oak and Cherry are more valuable than
others. Also, it is very important to properly maintain your hardwood floors.
Flooring that is scraped, scratched, dull, or water stained can actually decrease
the value of your home. If you have active children, you might want to stick to
carpeting.

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