After several years of a poor housing market, an increasing number of Illinois residents are choosing to list their homes for sale. A Cook County real estate attorney understands that this process can be challenging in and of itself, but adding in a renovation project to prepare the property to hit the market can be even more difficult. However, many experts agree that older houses tend to fare better and receive offers more quickly when they feature the modernized updates that today’s buyers want.
Before determining to undergo any home remodel, owners should consider whether the investment will result in a positive reward. There are some renovations that almost always end up helping to sell a home, while others can be a waste of time and money. Deciding which projects to go ahead with and which to forget about can help homeowners figure out whether the effort will be beneficial in the end.
What updates are worth the money?
If adding resale value to a residence is the ultimate goal, then renovation projects should appeal to a wide range of buyers. It may be tempting to install unique or custom-made appliances or features, but a Cook County real estate attorney knows that doing may turn off potential buyers. Instead of incorporating features that are personalized, sellers should aim for projects that update the overall appearance of a space, including the following:
- Kitchen cabinetry
- Countertops
- Flooring
- Energy-efficient mid-range appliances
A renovation project should help to increase a home’s asking price, but should also allow buyers to visualize themselves in the home.
Projects to skip
Many buyers prefer houses that have updated bathrooms, but a complete refurbish can be extremely expensive. The cost of a five by eight square foot bathroom can cost upwards of $10,000. The return on this investment is not always worth the expense, making it a project that should be skipped when possible. Instead, replacing bathroom flooring and repainting the walls in generic colors and styles can often do enough to entice good offers.
Additional projects to reconsider include room additions, which can add square footage, but require a large investment, and comprehensive kitchen overhauls.
Obtaining legal guidance
Selling a home can be an extremely stressful process, especially when the sale price needs to be high enough to cover what the owner owes. Some people prefer to work with a Cook County real estate attorney in order to get a better understanding of the local market.
