Hello Hello,
I’ve got a quick one. I know that the bath and kitchen are the money repairs that we can do on a project.
Are there other certain repairs that we should look at for increasing the value of the property rapidly?
What will give the best ROI in this Chicagoland area?
“All that I am, and ALL that I will ever be, I owe to my mother” -Lincoln
Are you talking upgrades, or repairs?
An additional bath, if there is only one will increase the value. Adding A/C can help - especially for those muggy summers in Chicago.
How about curb apeal, landscaping, paint, etc. When it comes to houses, women are generally the buyers. Men typically look at it as “how much work do I have to do and how much will it cost?” Since the women usually make the men do the work, if she’s happy, he’s happy. I don’t know if it sounds sexist, but in my experience, women have a better eye for that stuff.
In places where there are cold winters (like Chigago) new windows, doors, siding, and insulation that is up to code are huge pluses. Especially with the upcoming energy crisis.
Kitchen and baths, like you said. But there are a whole host of other items and upgrades, that you will find make the house more appealing.
There was a good thread on that a short time ago here in this forum called “What makes your rehabs pop” - check it out and you will get some good ideas for small items that make the house more appealing.
paint, carpet, maid services, and a good lawn care service
OK, help me out here…Maid Services?
Keith
Dollar for dollar I would say door hardware and cabinet hardware, then paint, then flooring.
Then worry about the 5 second impression that buyer make when the approach the house and walk through the front door.
That’s what I have always heard, especially the paint.
I’m not sure how good this is, but CNN Money has a calculator:
http://cgi.money.cnn.com/tools/renovation/renovation.html
i’m always amazed when I go to paint what seems to be a pretty clean room/house that new paint really brightens up the room(s).
Plus, if you’re a DIYer, this can be done cheap and while enjoying adult beverages and not put yourself at risk for physical harm. :beer
I’m rehabbing a house right now. It needed carpet, paint, and stuff like that. I decided to do the following:
All tile in first floor ($2/sqft installed), carpet second floor ($1.55/sqft installed), brand new large kitchen and 3 bathrooms (minus the tubs they will be reglazed or cleaned) for $3,800, Paint was little pricy at $2,500.
The whole rehab will cost me about $12k. Imagine the look on the wife’s face when she walks into a house lower end house ($115k) to find tile, brand new kitchen, appliances, bathrooms, freshly painted, landcaped home.
The major drawback of this house is the small stinking bedrooms, but I expect it to move within couple of months.
A lower end house with 3 bathrooms? Geez…how tough it is to be low income now a days… :rolleyes
This is Texas 
Even $40,000 homes have 3 bedrooms. The ones I don’t like are those 3 beds with 1 bath…
Yes, but you said 3 BATHrooms, is that what you meant to say?
Ah, well yes 2 story houses all have 3. Actually, 2.5 not 3, I am changing the vanities so 3 sets