4 Real Estate Trends to Know Before You Sell Your Chicago Home

Chicago may be considered a seller’s market, but sellers only have the upper hand if their home has the characteristics a buyer is looking for. Nowadays, it’s not uncommon for buyers to have a list of trendy wants and needs when looking for a home. If you can’t match enough of those line items, there’s a good chance your home will be overlooked. Being aware of current trends can help you secure your desired price.

“Trends are what drive premium prices,” said Jennifer Mills Klatt, of the Berkshire Hathaway KoenigRubloff Realty Group. “You could have a vanilla box, and then you could have a trendy vanilla box, and the trendy vanilla box will warrant a higher price.”

Schools sell. Finding a quality school is often the driving force for a family looking for a new home. Even newlyweds and couples with babies take schools into consideration when purchasing a home. Unlike families choosing between various suburbs, buyers looking to buy in the city proper have only one option when it comes to a public school district: Chicago Public Schools.

“The school district has been driving a lot of the sales in the city of Chicago in the last couple of years,” said Mario Greco, founder of The MG Group. The city is home to many of the state’s best schools, and sellers located in school districts with good reputations should emphasize that in their listings.

Sellers whose homes aren’t located in a desirable school district can choose to emphasize proximity to private or charter schools, though it’s important to remember that not every buyer will consider those viable alternatives.

Outdoor space is in high demand. Chicago is known for its skyscrapers and high-rises – and not just the Willis Tower and the John Hancock. With a limited amount of space, the trend has been to build upward, which often means buyers are left without large lawns or porches.

Mills Klatt says her clients are often looking for private outdoor space with expansive decks and verandas. “Now more than ever everyone wants their own private space, and will pay a premium, especially if it’s finished with a trendy style.”

Read more of this article by Alex Mayster at: http://bit.ly/2wk7jKL

Posted in Chicago, Home Buyer News and tagged , , , .