Wednesday, September 27, 2017

Costs to Expect When Rehabbing Your North Shore Home

If you're a homeowner on Chicago's North Shore, chances are you have a list of upgrades you would like to make around your home. These might include smaller projects like changing light fixtures and boosting curb appeal with new landscaping to full-blown renovations like opening up a kitchen and living space or overhauling a bathroom.

Each comes with their own set of costs and if you haven't crunched the numbers ahead of time, you may find yourself wishing you would have better prepared both yourself and your wallet. As your local North Shore real estate expert, I've included a few costs to expect when rehabbing your property in Glencoe, Winnetka, Deerfield, Highland Park, Northbrook, Evanston, Glenview, Wilmette, Lake Forest, and the surrounding areas:

Initial Set-Up
Before even the smallest nail can be removed, it is important to look into building permits. Will you need a permit for your project? In certain areas, even removing flooring to replace with new will require the proper permit. Permits do have a cost associated with them that you will need to prepare for, as well as any team you intend to hire for your project.

Will you need to purchase specialized tools to complete your project? For instance, are you installing a new backsplash? You may need a tile cutter or saw to ensure the best fit for your kitchen. Are you gutting your bathroom? Plumbing tools may be in order. Be sure to factor in the costs of supplies before diving into your home rehab.

If your intent is to sell your North Shore home when the rehab is complete, a home inspection may be in your future if you'd like to know all of the issues have been taken care of prior to listing the property.

As I mentioned above, if you plan to sell when the renovations are finished, you can expect the traditional costs of selling a home. For instance, the real estate agent's fees, staging, legal fees, and even certain tests like radon or lead may fall on the seller's shoulders.

Considering selling your home in Glencoe, Winnetka, Deerfield, Highland Park, Northbrook, Evanston, Glenview, Wilmette, Lake Forest or beyond? Give me a call today!

Janie Bress
Your North Shore Real Estate Expert

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