In this paper, a novel synthesis for a chemical precursor for nanocrystalline VO2 coatings is elaborated. The compatibility of the precursor towards the substrate is optimized for spin coating. This is done by subjecting multiple solvents to contact angle measurements. A suitable thermal treatment is developed to densify the coating and to induce crystallization. Afterwards the microstructure of the coating is investigated using X-Ray diffraction, electron microscopy and ellipsometry techniques. To assess the thermochromic properties of the fabricated device, optical transmission experiments were conducted both at room temperature and at elevated temperature. A correlation between these thermochromic properties and coating thickness was investigated in order to obtain an optimized thermochromic device, where both high visual transparency and prominent thermochromic switching abilities are aimed for. In this work, an optimal coating thickness is proposed for a thermochromic coating with high switching ability and solar modulation.