Renovation Tips For Chicago Homeowners
There are many different benefits of renovating your house, particularly if you reside in Chicago, where the housing market has dropped by 4.2% compared to the last year. Refurbishing your property will increase its resale value and yield a hefty return on investment (ROI).
The population in the Chicago metropolitan area has decreased by 300,000 in the past five years; the Windy City today has become a seller’s market. More people are looking to buy homes in Chicago than they are available on the market. This means now’s the perfect opportunity to renovate your Chicago property and get a high ROI. This blog shares some trendy domestic renovation projects for your consideration:
- Replace your old windows
There’s a reason why Chicago is labeled the Windy City. Its freezing winters and humid summers make weather-proofing a necessity for homeowners. You need to insulate your house to regulate the indoor temperature and reduce heating/cooling expenses.
Replace your old, drafty windows and add a double-pane or triple-pan window to your house. Window upgrades will provide greater durability against extreme weather conditions while enhancing your home’s curb appeal.
- Renovate your bathroom
Average bathroom remodels in Chicago can cost you as much as $13,500, depending on how extensive the work is. But you can recoup $1.71 in returns for every dollar you spend on a bathroom remodel after reselling the house. New fixtures and finishes will give your bathroom an updated look. Call professionals for faucet and shower replacement in Chicago.
Professional bathroom renovators will change your floors, replace the toilets, add a stylish vanity, and install a new shower in just a week to make your bathroom experience more comfortable. It is an investment worth pursuing.
- A spacious kitchen is chic
Any realtor worth their salt will tell you that kitchens sell houses. A spacious kitchen attracts more buyers by boosting your property’s marketability. Creating the illusion of openness in a kitchen isn’t a difficult undertaking; here are some simple ways to make your kitchen more spacious:
- Recolor your kitchen with white paint
- If it’s possible, remove all the unnecessary soffits
- Use skylights and extra windows to bring more sunlight in
- Add glass door fronts to your cabinets or go with open shelving
- Bars and pantries are stylish
Installing a pantry will make your home more valuable. Add storage spaces to make the place more functional. Moreover, you can experiment with the following renovation options:
- Built-in coffee bars are added luxury for a typical Chicago home
- kitchen prep areas can keep the messy cooking process invisible to your guests
- Walk-in pantries have their charm and can easily give you 70% of your investment back
- Construct a heated garage
You should try adding a heated garage to your property. It’ll protect your vehicle from the Midwestern winters and lower the cost of repairs due to weather-related damage. Heat your garage with the help of heat pumps, floor heating, and convection heaters.
If your house lacks a garage, add an attached or detached carport to your house and get 64% to 81% of your investment back when reselling your house to local buyers.
A heated garage keeps your car warm, regulates the carport temperature, and prevents frozen pipes. In Chicago’s extremely cold winters, heated garages provide comfort and luxury to homeowners.
- Go with an open floor plan
Chicago properties with open floor plans are labeled “hot homes” by Redfin, as these houses attract buyers quicker than houses without an open floor plan. More buyers are looking into spacious properties with open floor plans, natural lighting, and minimalist décor. That’s why many homeowners are experimenting with creating spaciousness in their houses and attracting more buyers.
An open floor plan makes a living space more versatile and easily customizable. You can increase your home value by 15% to 20% simply by creating the illusion of square footage and getting customers.
- Invest in a refurbished roof
Illinois is America’s fifth-most tornado-vulnerable state, and Chicago is known for its extreme weather conditions. The tornado season spans from March to May, and even in July, severe storms will hit Chicago with full intensity. For this reason, you should invest in weather-proofing the house. Refurbish your roof and replace it with stronger materials to withstand severe storms.
Adding a new roof will cost you $8,000 in Chicago. But, ideally, you’re expected to recoup 60% of your investment. A weather-proof roof is a crucial home reno project for Chicago homeowners.
- Construct some outdoor rooms
Create outdoor sitting, cooking, dining, and lounging spaces. These outdoor dining areas will make your property more valuable. Some examples of quality outdoor living spaces include:
- Roof decks (they have an ROI of 75% to 80%)
- Outdoor kitchens include built-in grills, sinks, and pizza ovens
- Built-in fireplaces and freestanding heaters will make your home more valuable
- A home office makes it better
Data shows that one-third of Illinois workers back in 2022 worked from home. Many Chicago workers also continue the trend of telecommuting, and that’s why adding or renovating your home office seems like a great investment. Experts believe you can recoup 10% of the cost of adding a home office.
Whether you construct a standalone domestic workplace or integrate it with your kitchen/bedroom, home offices are in fashion. They’ll be a great addition to your Chicago home.
Conclusion
If you wish to increase your Chicago home’s curb appeal and attract potential buyers, follow the guidelines shared in this article. These home reno tips have been tailored to the needs of Chicago homeowners and include refurbishing projects specific to Illinois residents. You may consider getting a new roof, replacing your windows, and building a heated garage. Similarly, you should make your kitchen more spacious and remodel your bathroom. Also, call Chicago-based professionals to help you complete these home upgrades.
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