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 January 08, 2007

Remodeling on the Rise
A popular home-repair referral service reports in its annual poll that home owners are expected to spend an average of $11,250 on various home maintenance and improvement projects in 2008. This estimate is up 13% over the average amount report spent throughout 2007.
Home owners that responded to the survey stated that they plan to spend an average of 2.9% of their home's value on renovations and repairs throughout 2008.

Angie's List reports that the contractors and building experts they refer are receiving calls from home owners who would otherwise put their home on the market. They tend to be leery that they would not be able to sell the home quickly enough to be able to afford the larger, newer house the desire.

The most common projects are for bathroom and kitchen upgrades. These are the rooms of the house that real estate experts say that offer the best return on investment when it comes time to sell the home. Other projects owners are planning include landscaping, painting the interior and exterior, replacing flooring, doors and/or windows, and adding or repairing porches or decks.

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