What’s on Your Home Improvement Wish List?

New Garage PlanningWelcome to the holiday season.  While stores (and radio stations) may have been trying to convince you that the holiday season may have started the day after Halloween, here at Blue Sky Builders, we are the traditionalists who decorate our homes the day after Thanksgiving.  With the kids writing their wish lists to Santa, we would like to ask you, “What’s on your home improvement wish list in 2015?”

Thanks to the annual “Cost vs. Value” Report, provided by Remodeling Magazine, we share with you a few of the things that you can add to your wish list that will improve the value.

Entry Door Replacement

One of the easiest things you can do that will recoup its value nearly completely for homebuyers is that of replacing your entry door.

Steel Entry Doors

Steel doors are durable and available with many different designs and colors.  Homeowners could even elect to build sidelights or insets.

  • National Average Cost: $1,162
  • Cost Recouped: $1,122
  • Value of Replacement: 96.6%

Further, the value of replacement in the East North Central Region (Ohio, Indiana, Michigan, Illinois, and Wisconsin is as follows:

  • ENC Region Average Cost: $1,167
  • Cost Recouped: $963
  • Value of Replacement: 82.5%

Drilling down to the Chicago, Illinois Region, values rise for replacement:

  • Chicago, IL Region Average Cost: $1,299
  • Cost Recouped: $1,138
  • Value of Replacement: 87.6%

Fiberglass Entry Door

Another durable option, also with many different designs available, fiberglass replacements recoup just a bit less cost than steel. Values are as follows:

  • National Average Cost: $2,822
  • Cost Recouped: $1,997
  • Value of Replacement: 70.8%

Values in the East North Central Region are as follows:

  • ENC Region Average Cost: $2,828
  • Cost Recouped: $1,997
  • Value of Replacement: 66.8%

Values in the Chicago, IL Region are as follows:

  • Chicago, IL Region Average Cost: $2,981
  • Cost Recouped: $2,142
  • Value of Replacement: 71.8%

Garage Door Replacements

With the garage taking up a large portion of the front of the house, a garage door replacement is definitely considered a high-value addition in many ways.  If your garage door is starting to show weather or dents, not only would a replacement garage door improve the monetary value, but the beauty of your home.

Midrange Garage Door Replacement

A midrange garage door replacement is defined as: New door is uninsulated, single-layer, embossed steel with two coats of baked-on paint, galvanized steel hinges, and nylon rollers; 10-year limited warranty.

  • National Average Cost: $1,534
  • Cost Recouped: $1,283
  • Value of Replacement: 83.7%

Further, the value of replacement in the East North Central Region is as follows:

  • ENC Region Average Cost: $1,553
  • Cost Recouped: $1,285
  • Value of Replacement: 83.0%

Drilling down to the Chicago, Illinois Region, values skyrocket for replacement:

  • Chicago, IL Region Average Cost: $1,800
  • Cost Recouped: $2,722
  • Value of Replacement: 151.0%

Upscale Garage Door Replacement

New door is high tensile strength steel with two coats of factory-applied paint and foam insulated to minimum R-12 with thermal seals between pinch-resistant panels. Windows in top panel are ½-inch insulated glass. Hardware includes galvanized steel hinges and ball-bearing urethane rollers. Lifetime warranty.

  • National Average Cost: $2,791
  • Cost Recouped: $2,315
  • Value of Replacement: 82.9%

Further, the value of replacement in the East North Central Region is as follows:

  • ENC Region Average Cost: $2,822
  • Cost Recouped: $2,140
  • Value of Replacement: 76.0%

Drilling down to the Chicago, Illinois Region, values skyrocket for replacement:

  • Chicago, IL Region Average Cost: $3,101
  • Cost Recouped: $2684
  • Value of Replacement: 86.5%

So, a garage door replacement is definitely a good investment to add to the list of home improvement projects next year.

Garage Addition

Another decent investment—even if just for additional storage and car maintenance—is the addition of a garage to your property.

Midrange Garage Addition

Adding a new garage will help to protect property not covered as part of a home improvement project. With hailstorms hitting the region, the savings on insurance claims are an important consideration when looking at a new garage.

  • National Average Cost: $49,911
  • Cost Recouped: $34,598
  • Value of Replacement: 69.3%

The value of addition in the East North Central Region is as follows:

  • ENC Region Average Cost: $50,211
  • Cost Recouped: $30,491
  • Value of Replacement: 61.0%

Drilling down to the Chicago, Illinois Region, values rise for a garage addition:

  • Chicago, IL Region Average Cost: $56,661
  • Cost Recouped: $38,142
  • Value of Replacement: 67.3%

Upscale Garage Addition

If you’re looking for additional storage and a more durable garage, the upscale addition includes an epoxy floor, cabinetry, and completely sealed perimeters.

  • National Average Cost: $82,311
  • Cost Recouped: $48,065
  • Value of Replacement: 58.4%

The value of addition in the East North Central Region is as follows:

  • ENC Region Average Cost: $82,900
  • Cost Recouped: $42,986
  • Value of Replacement: 52.0%

Drilling down to the Chicago, Illinois Region, values rise for a garage addition:

  • Chicago, IL Region Average Cost: $94,803
  • Cost Recouped: $49,605
  • Value of Replacement: 52.3%

Other High Value Home Improvement Projects for Your Wish List

Still not enough for you? A few of the other leading additions, projects, or replacements are as follows (Chicago Region only):

  • Midrange Window Replacement (Vinyl): 82.7%
  • Midrange Window Replacement (Wood): 83.5%
  • Midrange Deck Addition (Composite): 103.7%
  • Midrange Bathroom Remodel: 103.2%
  • Midrange Minor Kitchen Remodel: 102.9%
  • Backup Power Generator: 95.5%
  • Attic Bedroom Remodel: 98.2%

So, we must ask, what’s on your wish list? For the full cost vs. value report, please head to the Remodeling Magazine website.

If you’re looking to add value through new windows, new doors, a new garage, or a new garage door; contact us to be one of our first spring projects.

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