The Mail-Journal, Volume 14, Number 18, Milford, Kosciusko County, 25 May 1977 — Page 27

It can make good, Sense to remodel

By JAMES M. WOODARD Copley News Service As home prices continue to rise to "out of sight" heights, the trend toward remodeling and modernizing older homes becomes stronger. It’s par- . Ocularly appealing to young families. Home owners spent well over 3100 million in remodel* ing projects during the past year —a new record. The reasons cited for going the re* modeling route are nearly always one or both of the fol-

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lowing; (1) The owner can’t handle the price tag of the type of new home he needs and wants, or (2) such a new home is not available in the close-in location he prefers. The type of couple who most commonly launch into a home remodeling project was sketched out in a recent survey. A profile of today’s remodeler looks something like this: The couple earns between 39,000 and 313,000 per year. The husband is just under 30 years of age. The wife is not

steadily employed. The house they remodel is from 25 to 35 years old. The results of the survey were reported by a noted architect, Henry Hastings, AIA. He also outlined the most popular types of remodeling projects now taking place across the country. Modernizing the kitchen is No. 1 in the minds of most remodel-minded home owners. This usually includes the installation of modern new The remodeling of bathrooms is second on the list — or the addition of a bath. Adding other rooms — bedrooms, family room, den — is third. Fourth in popularity position is the addition of a patio. Here is where architect

Hastings throws up the yellow caution flag. If a family is adding a patio with the idea in mind of recouping their total investment when they sell the property, they had better take a second look. The average “patio addition” project will increase the value of the property by about half the cost of the project, he pointed out. However, he stressed, in many cases the patio project is more than worth the investment because it satisfies a definite family need. This is also true of many other types of remodeling projects. If planned and executed carefully, remodeling an older home can be an excellent investment. Older homes are often exceptionally sound

and solid in their basic construction. Many feature raised foundations, large walk-in closets and other desirable elements not found in most new homes. And, of course, the locations are often far more convenient and desirable. + 4-4-Q. Is the cost of lumber and other home building materials going up again? A. As long as the supply of lumber remains plentiful, the cost of lumber will remain stable — and that will probably be the case through the rest of 1975. However, as the home building industry perks up with more activity early in

1976, shortages will occur in lumber supplies and other building projects. This will push prices up rapidly. Q. Do more buyers prefer condominiums than other types of homes in today’s market? A. Over 90 per cent of home buyers today prefer a single family detached home and are willing to accept a smaller home than was generally acceptable a few years ago, according to a survey by the . Bureau of Building Marketing Research. A man wrote of his boss: “His leadership is outstanding except for his lack of ability to get along with his subordinates.'

Wed., May 25,1977 — THE MAIL-JOURNAL

B v J#% ‘ ’ Ji B 1 V 1 ■ k -1« W I MEMORIAL AWARD — Marjorie Jones was presented the Laurel J. Mitchell Business Education award during honors the program last Friday at Wawasee High School.

Gasoline prices hit new records

CHICAGO — Average gasoline prices climbed to - new record highs in the Chicago area and in northern Indiana during the past two weeks, the Chicago Motor Club's latest Fuel Gauge Report showed today. In downstate Illinois, prices stabilized after jumps of more than a cent for all grades two weeks ago. Top price were posted in the Chicago metropolitan area where regular advanced seven-tenths of a cent to 65.8 cents a gallon, premium was up two-tenths of a cent to 72.4 cents, and unleaded was up three-tenths of a cent to 69.9 cents a gallon. Wide price fluctuations continued in the Chicago area where regular ranged from 53.9 cents to 71.9 cents a gallon, premium

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from 63.9 to 76.9 cents a gallon and unleaded from 58.9 cents to 75.9 cents a gallon. In downstate Illinois, there were slight pride dips across the board. Regular sagged twotenths (rs a cent to 65.6 cents, premium down two-tenths of a cent to 70.6 and unleaded down one-tenth of a cent to 68.9 cents. In northern Indiana, regular was up two-tenths of a cent to 61.9 cents a gallon, premium up fivetenths to 66.1 cents, and unleaded up one-tenth of a cent to 64.7 cents Indiana prices do not include sales tax which is added to the pump price. Average prices a year ago were: Chicago and Cook County, regular 59.4 cents, premium 64.8 cents, downstate Illinois, regular 59.8 cents, premium. 64.5 cents; northern Indiana, regular 56.6 cents, premium 61.5 cents.

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