Your house is a significant financial investment, so any money you spend on it should boost its value and make living in it more enjoyable. Before selling, many homeowners choose to do a renovation or two, as these can add value and make selling easier. But you could also be throwing your money down the drain if you don’t make worthwhile renovations.
Here, we break down the renovations you should make if your primary goal is to sell your house fast in Chicago.
1. Convert The Garage Into A Loft
If you want to extend your property and increase its value at the same time, consider turning your garage into a loft. Doing this can increase your home’s value by as much as 20%. Usually, however, turning a single garage into a living space boosts a home’s value by about 15%. This conversion is wise because it’ll ensure you have more storage. And if you can say you have another bedroom, this will increase your home’s value dramatically.
2. Renovate The Kitchen
A successful kitchen remodel can easily yield a 10 to 20% ROI, depending on how awful the kitchen was before and how great it looks afterward. Your kitchen renovation could prove to be even more valuable if a buyer is willing to pay more for the home just because they love the kitchen. Add elegant stone sinks, new appliances, and fresh paint to this spot. Remember that backsplashes, countertops, and flooring should all look attractive.
3. Renovate The Bathroom
A bathroom makeover is another popular option that often yields excellent results. You could see a 75% return on your investment if the renovation is a good one. Sometimes, a simple refresh is all your bathroom needs. Consider adding an underfloor heating system or a rain shower to an existing bathroom to give it an extra touch of luxury.
4. Add Smart Home Technology
Innovative home technology was formerly seen as quite futuristic, but today it’s popular and used in a wide variety of homes. Any kind of modern renovation can incorporate smart tech in some way. Smart tech can make living at home easier and it can also help you feel more secure. In some cases, simple smart lighting can wow buyers and entice them to make an offer on the spot.
Do Expensive Home Improvements Pay Off?
When it comes to making home renovations before selling, you need to remember at all times that your goal is selling the property for a profit. And to do this, you can’t be spending an arm and a leg on renovations before selling. Just make the renovations that’ll move the sale along quickly. Improve the kitchen, the bathrooms, and perhaps the basement to show buyers you care about the property you’re selling.
But if you don’t have the time, energy, and money to do any of this, sell to Diamond Equity Investments for cash. We are Cash Home Buyers in Chicago, and we purchase houses as is. And if you sell to us, you avoid realtor fees, commissions, and closing costs. Plus, we can close in as little as 30 days!