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Love the home you're in
 In this tough housing market, selling your home may not
be to your benefit. While you wait for a better tomorrow,
don’t move—improve! With great low rates on our home
equity loans you can enjoy the best of all worlds—
a beautiful home to live in with upgrades to show off
if you do decide to sell in the future.
Just how much equity you should tap to improve your home depends on the projects you’re considering. A bathroom
remodel or siding replacement usually cost less than a major kitchen remodel or garage addition, which could run in the tens of thousands of dollars. Really big-ticket items, such as adding a second story or master suite to your home, can cost upwards of $100,000.
Invest in your home
Home remodeling remains big business in the U.S. and, overall, it is usually worth the money and effort. The return on investment (ROI) comes in the form of added value, especially when your home is appraised to sell or for refinancing your mortgage.
For the most part, you get back a good portion of what you invest in home renovations. For example, in the Pacific region you could recoup about 96 percent of the cost of a bathroom or major kitchen remodel, 85 percent for a roof replacement or family room addition, or about 98 percent of the cost of replacing vinyl windows (about 102 percent for wood windows), according to a 2007 remodeling cost-versus-value report at remodelingonline.com (see the chart below).
Fruits of your labor
This is a perfect time to improve your home. Whether it is an updated kitchen, room addition, complete bathroom makeover or hardwood floors, home improvements can add significant
value in the years to come. Go ahead and enjoy the fruits of your labor—love the home you’re in!
For more information about home equity loans or home equity lines-of-credit, please speak to
a representative in our real estate lending department. Call (707) 469-2000 or (888) 698-0000,
visit our Web site to apply online, and register to attend our seminar on April 24 about using
your home’s equity. Click here to view the seminar details.
Return on investment for home projects in the Pacific region
| Project (Mid-range) |
Job Cost |
Resale Value |
Cost Recouped |
| Minor kitchen remodel |
$22,698 |
$23,494 |
103.5 % |
| Window replacement (wood) |
13,120 |
13,497 |
102.9 % |
| Window replacement (vinyl) |
12,164 |
11,978 |
98.5 % |
| Attic bedroom remodel |
55,306 |
54,186 |
98.0 % |
| Basement remodel |
70,064 |
67,844 |
96.8 % |
| Major kitchen remodel |
61,122 |
59,056 |
96.6 % |
| Bathroom remodel |
18,112 |
17,500 |
96.6 % |
| Garage addition |
63,485 |
55,839 |
88.0 % |
| Family room addition |
92,710 |
78,647 |
84.8 % |
| Roofing replacement |
21,360 |
18,182 |
85.1 % |
| Bathroom addition |
43,884 |
36,657 |
83.5 % |
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| Chart data excerpted from 2007 Hanley Wood, LLC. Reproduced by permission. Complete city data from the Remodeling 2007 Cost vs. Value Report can be downloaded for free at www.costvsvalue.com |
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