Top 5 Upgrades That Increase Your Home’s Appraisal Value in Chicago

If you are in Chicago and thinking about selling your home, refinancing it, or trying to build equity, a home appraisal is a critical factor that determines your overall gains. To maximize your profits, you will want your home appraisal value to be as high as possible. Given that, it will be valuable to know what home improvements can significantly increase your home’s value.

To help you on this journey, we drew upon our 12 years of experience doing home appraisals in Chicago and wrote this blog post. We will cover the top 5 home improvements that appraisers value the most in Chicago.

The Role of Home Appraisals in Chicago’s Competitive Market

In a city like Chicago, every dollar counts. To get the highest return on your property, a high-value appraisal is a must. Whether you’re preparing your house to sell or if you simply want to build equity, strategic upgrades can significantly boost your appraisal value and maximize your profits.

Chicago’s real estate market is very competitive, with buyers looking for modern amenities, energy efficiency, and functional living spaces. But not all renovations are valued equally – some improvements offer a much higher return than others. The enhancements we are going to share will help you increase your home’s worth and stand out in a crowded market.

Home Improvements to Boost Your Appraisal Value

Following is the list of 5 home upgrades that will increase your home’s appraisal value the most:

Kitchen and Bathroom Renovations

Both of these are key areas that both buyers and appraisers pay special attention to. They have the potential to make or break a home’s value. 

For kitchens, quartz or granite countertops and updated cabinetry will impress the appraisers the most. Appraisers also look for things like modern appliances, fresh paint, and stylish backsplashes and fixtures. 

For bathrooms, we recommend replacing outdated fixtures with modern, water-efficient options. A walk-in shower or a deep-soaking tub will also be a great addition. Especially for Chicago, consider adding heated floors for extra appeal, as people value them a lot given the city’s harsh winters.

Roof Replacement

A sturdy roof protects the home and adds to its curb appeal. While a full roof replacement is valued the most, even just replacing old or damaged shingles with durable materials will prove valuable. Ensure proper insulation and ventilation in the attic.

Make sure to choose roofing materials that can withstand heavy snow, wind, and rain that is common in Chicago’s weather.

Pro Tip: If you have had storms in your area, consult a roofing company, and you may qualify for a roof replacement through your insurance. This will boost your home’s value without much spending on your part. If you are a new homeowner, this can also help you to remove the PMI on your mortgage.

Curb Appeal Enhancements

First impressions are critical, especially in a competitive market like Chicago. Repairing or replacing the driveway and walkways will boost your home’s value the most. Adding a porch or updating the existing one will also help.

We also recommend landscaping that can bring up your curb appeal. Keep the brushes trimmed, add fresh mulch, and select the best-looking plants. New or updated exterior lighting also impresses the appraisers.

Additional Living Space

Extra usable space can significantly increase a home’s square footage and functionality. You can think about converting the basement into a livable space like a home office, gym, or guest suite.

You can also add a bathroom or wet bar for added convenience. Make sure there is proper insulation and lighting to make the space more inviting.

This is also true for outdoor living spaces, as they are highly desirable, especially in urban areas. Think of building or updating a deck or a patio, or outdoor seating areas. Features like a fire pit or outdoor kitchen for entertaining are also highly valued.

Given Chicago’s weather, a four-season outdoor space with features like heaters or pergolas for year-round use will significantly boost your home’s value.

Garage Upgrades

Chicago is a city where parking is at a premium. The convenience of a secure garage in neighborhoods with limited street parking cannot be overstated. 

We recommend installing a new garage door with modern features like insulation and smart technology. Also, add storage solutions like shelves or cabinets to increase the usability of a garage. You can also upgrade the flooring with epoxy coating for durability and style.

We speak from experience that a functional and attractive garage can add significant value to your home.

Final Thoughts

From kitchen and bathroom renovations that catch buyers’ eyes to roof replacements that protect against Chicago’s harsh weather. Each of the five upgrades we’ve outlined has been proven to boost home values in Chicago’s market.

Whether you’re preparing to sell, refinance, or simply build equity, the right upgrades can make all the difference in securing a favorable appraisal and ultimately, a higher profit.

At AnDel Appraisals, we are always glad to help people with their appraisals. If you are in need of appraisals or any advice related to appraisals, consider giving us a call, and our staff will surely help you out!