Flex Space Becoming Critical for Buyers of Chicago Luxury Homes and Condos

In luxury Chicago real estate, the design of a home is of the utmost importance. Sure, buyers can make their own changes in line with their personal aesthetics, but things like a smart floorplan or architectural design are generally major markers of a dream home no matter what.

Because of that, the latest development in home design is a big one: flex space.

What is a flex space, exactly? Well, by nature of it, this room lacks a true definition but it does have a few common traits: It’s off the entry hall, near the main living space, near a bathroom. Above the garage is another common flex space that can be used as a theater, an in-law suite, or kids’ room.

But whether it’s called a bonus room, a multi-purpose area or a flexible living space, the idea is that this is undesignated square footage that can adapt to different uses and brings a forward-thinking element to a home’s floorplan. This space is intended to serve changing purposes over time, taking on considerations for structure, wiring or plumbing up front so the room is ready to transform into its future state when needed.

Flexibility is Key in Real Estate Value

While not every buyer is planning for the future when purchasing real estate, it’s still a consideration when thinking about the resale value of your home, as people discuss the floorplan with an emphasis on the future. Especially in ultra-competitive markets, these flex rooms appeal to buyers who want to trade up for more space, but can’t afford the extra square footage.

If you’re building your first home or unsure of your future needs (like say, the number of children you’ll have), having some flexibility is key. Not to mention, our lifestyles are constantly changing: Folks are living with their parents longer than they used to; or parents move back in with their grown children as they need care in their later years. Buyers definitely feel a need to consider such future living arrangements when building or buying a Chicago luxury home. A flex room helps a property stand out from the rest by offering the promise of never outgrowing the space.

Space helps with sale and resale value because it offers a customization that buyers typically can’t get in an existing home. Designating that room as a flex space signals a freedom to do with it as you wish, versus trying to get a buyer to envision a dining room as their home office. Younger buyers see flex space as a way to customize their home—for example, to forego the formal living room without losing the square footage. Older home owners see these as a space that can adapt as they age—for example, being able to move the master suite to the ground floor.

Whether you’re a homeowner, a prospective seller or a potential buyer, it’s a good idea to keep an eye on what’s “trending” in home design and its impact on real estate value. Especially if you opt to take on a remodel or renovation project, I highly recommend you consider how certain features or characteristics will affect a resale down the line.

For more information on the latest in home design in luxury Chicago real estate, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Minimalist Kitchens for Chicago Luxury Condos Are In

When it comes to luxury real estate, it’s all about the details—high end finishes, impeccable hardware, architectural nuances that bring a space to perfection. But it’s not only small details that go a long way. Every foot of living space is important for bringing a luxury condo to the next level, and one room in particular can go a long way for the luxury buyer: the kitchen.

Belmont Build

Photo by Scavolini Store Chicago via Houzz

We’ve seen a number of kitchen trends over the last few years, but the latest look for many luxury homeowners is gravitation toward a minimalist, European-style space that looks like it came directly from an Italian showroom. Design enthusiasts are using the kitchen as an architectural showpiece in their homes as a way to add value and a “wow” factor to their property.

The Wall Street Journal recently covered this trend, calling the Italian luxury kitchen the “Prada handbag of luxury real estate.” I’ve seen this trend among new construction properties as well, as developers enlist specialty kitchen designers to bring the minimalist look to the luxury client.

Combining Beauty and Function in Luxury Real Estate

The minimalist kitchen isn’t just about aesthetics, however. Cutting-edge design helps make the space not only beautiful, but fully functional as well, including all of the gadgets and appliances you might need for a fancy cooking show.

The key in the kitchen’s design is to retain the necessary functionality but have the appearance of a clutter free set-up. Key ways of doing this include:

  • Butler’s pantries that can remain completely out of sight
  • Retractable countertops
  • Pocket doors that hide countertop appliances
  • Recessed finger pulls to eliminate hardware

Today’s new construction kitchens are bringing all this and more, by the most noted brands in the industry. And the price tag is generally in line with the cache of the name behind it. The high-end, minimalist kitchen brings and element of fantasy to luxury property, akin to a coveted sports car parked in the driveway.


Photo by poggi design via Houzz

And because many Chicago condo buyers are still looking for space—at least 3,000 square feet—a smart kitchen design ensures that every bit of space is used effectively. The result is a luxury home that feels like a retreat after long days in the city.

If the minimal, European-modern style kitchen is one you’re coveting, you don’t have to invest hundreds of thousands of dollars to get the same effect. As afan of modern design myself, I redid my own kitchen with the minimalist look, taking some of the key elements and tricks of these showroom-worthy kitchens to increase the resale value of my home. In the end, I achieved a very similar result without having to import from the major high-end brands that come with the same high-end price tag, but still have the advantage of an updated property that will appeal to buyers when the time is right.

To learn more about making kitchen design updates that can boost the resale value of your home, or to talk about buying or selling a Chicago home, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

How to Maximize a Chicago Luxury Home’s Sale Price

Painting your Chicago home before sellingIt’s no secret that color plays an important role in selling a luxury home.

If the colors are too, well, colorful, then a buyer might not be able to see past them and quickly decide a home isn’t their style. But if they are too bland, the home could seem uninteresting to a buyer looking for something they feel is special.

When I’m working with a seller to get their property sold, many don’t want to spend the time, money and energy to paint the home they’re planning to move out of. But, it’s a really important step that a seller can take to expedite the sale of their home. And I have found that sellers who do paint before going up for sale are always quite surprised at how quickly the home sells—and often at a higher price than they expected.

When it comes to the appearance of a luxury condo or home for sale, I always stress to my seller clients the importance of having a consistent color palette throughout the home. And secondly, a home with lighter paint colors throughout will typically sell faster than one with different dark colors as its background.

If you decide to give your home a fresh coat before putting it on the market (and I’d highly recommend it), you’ll be faced with another all-important question: What color?

Because color does indeed play a role in real estate, I always like to stay on top of the most recent colors that paint manufacturers and new construction developers are selecting for high-end properties, and there are a few clear trends at work right now.

The Paint Color of the Moment: White

When selling a home, you want to choose colors that a broad spectrum of buyers will identify with—across tastes and styles, lifestyles and interests. This topic was recently covered by the Wall Street Journal, and the article highlighted that the color that gets a home sold fast might not be considered a color at all: white.

Benjamin Moore selected “Simply White” as its 2016 color of the year, and the hue has endured among builders, developers and designers, particularly in urban areas. Experts associated its increased popularity with an increased focus on well-being, as the color is light, clean and refreshing.

Not to mention, white is a great canvas for buyers who are art collectors or design aficionados and won’t detract from art, architecture or design elements in a home. White won’t look dated, and gives buyers a neutral palette to imagine themselves living there.

Color in Your New Chicago Home

As paramount as color is when selling a home, it’s also an important part of the post-purchase process. After you’ve bought a home, it’s typically a next step to personalize it with your own chosen paint color and other décor.

For that reason, I’m offering my clients $2,500 at closing when they purchase or sell a home with me for $500,000 or more. If you’re looking to put that money toward painting, I have teamed up with an expert who can help you along the way. Click here to learn more about this special offer.

For more advice on getting your Chicago home ready to sell, or to talk more about your upcoming real estate moves, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Why Certain Chicago Luxury Condos Should Rise in Price

Given that the last decade of real estate across the country has had it’s ups and downs, it’s important that home buyers consider the “big picture” when thinking about a home purchase.

That means not just evaluating what’s right in front of them—the current sale price. Sure, that’s the number that’s right in front of them and plays a huge role in negotiating a deal. But I encourage all of my clients to look beyond that, and think about future resale price as a major factor in determining the value of a home.

This consideration might seem like it requires a crystal ball, but it’s really as simple as taking a good look at the building itself, the property’s features, and any included amenities. These are all important factors that play into making a Chicago condo building stand out among the rest. If it’s a run-of-the-mill building now, it’s not likely to be a “wow” building in a few years down the line.

There are a number of condo buildings in Chicago, though, that have this differentiation factor nailed down. They are renowned enough to be known by name rather than an address, thanks to features such as:

Noteworthy architecture: From Benjamin Marshall to Lucien Lagrange to Jeanne Gang, Chicago has an impressive offering of famous architects behind some very unique residential buildings. This is the city where much of modern architecture was born, and for design buffs, living in a building that showcases that star status is a major plus.

Interior details: The “little things” go a long way in terms of real estate value. Ceiling heights, high-end finishes, top-of-the-line appliances and more are must-haves in any luxury Chicago condo; and better yet, each of these seemingly small features will have a story behind them. For example, there are hardwood floors, and then there are 5-inch Brazilian oak floors. Which do you think stands out more in a real estate listing?

Location: It’s what everyone wants in real estate, right? Location, location, location. This of course, can mean different things to different buyers, but a safe bet is a location in a great neighborhood, close to downtown with easy access to an airport.

Chicago Condo Buildings with Resale Power

imageWANDA VISTA TOWER: This new condo building in Lakeshore East is being designed by Jeanne Gang, and will showcase a nature-inspired, crystal-like façade on the front of the building. A show-stopping feature like that is one that can’t be found in any other building in Chicago, making this an ultra-unique (and therefore valuable) property from the start. The Vista Tower’s 93 stories will also surpass the Aon Center in height and become the city’s 3rd tallest building.

2550LINCOLN PARK 2550: This Luxury condo building aimed to set itself apart for its inception, and it’s done just that. First, the building’s jaw-droppingly beautiful lobby is a perfect introduction to what waits beyond 2550’s doors. It’s elegance is felt the moment you step foot into it. This building also shines with its long list of amenities, which cater to everything from families to executives to pet owners. A ¼-acre private park, a dog run, a theater room, club room, game room and a stunning pool and spa are a few things that residents here enjoy right outside their front door.

Trump Tower Downtown Chicago

TRUMP TOWER: This is the building in which I get the most inquiries about from prospective buyers wanting to buy luxury real estate in Chicago. It’s a famous name, of course, but I always explain that living in Trump Tower isn’t just your address—it’s a lifestyle. It’s having your car valet parked each day, or having dinner from the building’s Michelin-rated restaurant brought to your front door, or having five-star service at top-rated luxury spa just a quick elevator ride away. In the heart of River North, Trump Tower also has the location factor. Living here puts you a short walk to Michigan Avenue, the Loop, shopping, the beach and much more.

These are the buildings that are getting the attention in the market, and it’s not a mystery as to why. I’d love to show you in person what makes these properties so special and important to the future of Chicago luxury real estate with a tour of the building and neighborhood. Contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Trends in Chicago Luxury Home Design: High-End Countertops

This is the time of year when many folks are thinking about whether they will sell their home in 2016. That means a lot of thought and attention are going into what makes a luxury home sell quickly in today’s market.

It’s not uncommon that the word “luxury” is used without consideration as to what real luxury is all about. It’s not simply a high price, square footage or a great location. So what makes a home a true “luxury” property?

While the main criteria for a property (like size and location) of course play a role, I believe luxury is defined by a home’s accoutrements. The finishes, the materials, the details and the odds and ends are what bring the luxury lifestyle to a home. These are the things that differentiate a home from the rest. It’s what makes it unique and cutting-edge and causes prospective buyers to walk in and feel that “wow factor” as soon as they walk in the door.

It’s important to pay attention to even the smaller features of a “luxury” home, and the latest au courant addition to a kitchen is show-stopping stonework. While granite has certainly had long been the attention-getter in a high-end kitchen, homeowners are now bringing unusual varieties of stone—such as limestone, schist and labradorite—into their home design. Taking the stone less traveled, if you will, is yet another way sellers can help their property stand out in the market.

The Wall St. Journal recently highlighted this trend of moving away from expected granite finishes. Here are a few examples of kitchen stonework that are anything but run-of-the-mill:

Via Houzz / Contemporary Kitchen by Silver Spring Kitchen & Bath Designers Aidan Design

Quartzite is clean, elegant and ultra-modern in a light, natural shade as is shown here. It’s an ultra-durable material that can produce the same aesthetic as marble but with the hardiness of granite.

Via Houzz / Traditional Kitchen by Buffalo Kitchen & Bath Designers Artisan Kitchens and Baths

Made from semi-precious stones, labradorite brings a stunning dose of deep color and functions as a durable, non-porous surface in the kitchen.

Via Houzz / Farmhouse Kitchen by San Francisco Architects & Building Designers Walker Warner Architects

Limestone is a predictable stone for the facade of a home, but is less expected in the kitchen. It can work smoothed out as a countertop or an elaborate focal point like the wall shown here.

Via Houzz / Contemporary Kitchen by New London Architects & Building Designers Bonin Architects & Associates

Similar to granite in its chemical markup, Schist is medium or coarse-grained and can resemble the distinctive layering of slate.

Updating Your Chicago Home When it’s Time to Sell
For the prospective seller, making updates to the details of your home can make all the difference in determining the value of your property. For a kitchen refresh like this, I can assist you with sourcing the right materials that will set your home apart. I have consulted on a number of home design projects with the goal of resale value in mind, as well as working with clients on new construction projects—each of these involves selecting luxury finishes and materials that make a space feel truly upscale.

For more information on what updates and changes will impact the resale value of your home in 2016, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Refinancing Your Chicago Home for Extra Cash Requires Due Diligence

As real estate in Chicago and across the country continues to be in a good place, many homeowners are taking advantage of the market’s health by refinancing—specifically, using refinancing to cash in on some of the equity of their home.

A cash-out refinance allows a homeowner to withdraw cash form the equity of their home when changing the interest rate on their mortgage. The cash might be used for home repairs or upgrades, to reduce debt or pay for other large expenses.

Those refinancing their mortgages are on the rise, according to a recent article in the Wall St. Journal. More so, those taking out cash with their refinance is at the highest its been since 2008. Both are indications of rising home values and the confidence of borrowers to capitalize on it.

But while there’s the allure of cash that is seemingly just “sitting there,” it’s especially important for borrowers to know exactly what they’re getting into before doing a cash-out refinance. There’s the potential risk of getting into too much debt should home prices fall, and there could also be alternative options for getting cash that would bring less risk and cost for the homeowner.

Here are a few considerations to make if you’re looking into a cash-out refinance on your Chicago home:

What’s the money for? Using the cash for upgrading or improving your home could bring the long-term benefit of increasing its resale value. Using it to pay off credit card debt could also be beneficial since the interest rate is likely significantly lower. Buying a big-ticket item or paying for a vacation with the money is a riskier option, especially because you are putting your home on the line if any payments are missed.

Is there a lower interest rate? If your move is motivated by just the cash, make sure you would actually be refinancing into a lower interest rate. If you locked in your loan in the last few years, chances are interest rates were under 4% and you won’t likely get a fixed rate lower than that now. An adjustable-rate loan with a lower rate upfront could still end up costing you more in the long run.

Don’t forget closing costs. If you’re looking to save money, don’t lose sight of the fact that refinancing in not free. Closing costs are about 2% of the loan amount, and refinancing means starting over with a loan’s “early payments” of mostly interest charges. The latter can be helped by opting for a shorter loan.

Consider a HELOC. A home equity line of credit could be the better option, depending on your situation. The interest rate will likely be a bit higher, but the amount borrowed is probably smaller and borrowers pay less in interest charges on a HELOC than on a mortgage. There are also far lower closing costs.

There are a number of different approaches to refinancing and it’s crucial that you work with a mortgage professional who has your interest in mind. You want to work with someone who can explain all of the different types of nuances that come with each type of loan and the refinancing process to ensure it’s in line with what you’re looking to accomplish.

For more information on Chicago real estate loans or refinancing, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Real Estate Trend: Getting Mom and Dad Involved

It’s not uncommon for new homebuyers to bring in a second opinion–parents, siblings, friends who have been through the process often weigh in at some point during the purchase process.

But one thing I’m noticing more and more in Chicago real estate is that parents aren’t just helping their kids look for a property to buy, but actually contributing a large portion of the down payment or even outright buying it for them. The Wall St. Journal reported last week that familial assistance in buying real estate is more apparent than ever, as graduation gifts, to celebrate their first big job, or simply as a financial backer. This type of real estate transaction hasn’t been common in many decades, likely because there hasn’t been an abundance of wealth for the baby boomer generation to pass down.

Building Real Estate for Generation Y

The Journal also reported that developers are building properties with this generation of buyers in mind. Instead of the ornate, the traditional and the over elegant, many properties are steering toward modern, open design with an elite edge. Amenities have also been a big draw.

These younger buyers tend to gravitate toward Chicago new construction properties, with features like floor-to-ceiling windows, high ceilings, indoor-outdoor spaces and open floor plans. Large, fluid spaces are another sought-after characteristic instead of condos with separate dining rooms and living rooms, which comes from a more traditional approach.

Real estate in Chicago is certainly being designed with this younger generation in mind, and for good reason.

Purchasing Chicago Real Estate for Gen Y

Not too long ago, I had a 23-year-old get into my car to look at potential condos and indicated the budget was up to $1 million, with mom and dad picking up the bill with an all-cash purchase.

This takes a different approach than just any buyer. The needs and wants are often quite different than those looking for a family home or the right neighborhood for a particular school. For these new home purchasers, there are a few important things to consider:

Spend time looking: I think it’s a good idea for the so-called millennial generation to start a Chicago real estate purchase with a range of properties, starting at $650,000 up to the $1 million mark. It’s important to see the differences between particular properties and the prices for each. A million-dollar view can cost just that, if it’s what you’re looking for. But square footage, the just-right neighborhood, amenities and services also come into play, and a buyer can see the various offerings and narrow down what is really important to them.

Make a list: I then encourage the buyer to pick out a number of properties that he or she would truly enjoy and list out the rationale for each. That way we can explain the choices to the parents, who may ultimately have the final decision. Invariable, the parent does agree with the choice of their child.

Consider the future: Even though the “now” apartment might seem like all a twenty-something-year-old needs, it’s still important to think forward: both in terms of your lifestyle and resale value. Think about how long you plan to live in the home? Is it a good investment now and continue to be when you want to sell?

It’s still a great time to purchase Chicago real estate, so if you’re interested in making an investment in a home or condo for your child, give me a call at (312) 498-5080 or email me at ssalnick@dreamtown.com.

How to Maximize Resale Price: Upgrade the Kitchen Features in Your Chicago Condo

Last week the Wall St. Journal highlighted the kitchen—and the kitchen island in particular—as a key factor for what buyers are looking for in today’s homes. But design trends like this aren’t just important for those who are buying or selling Chicago real estate. Anyone with a real estate investment should keep trends like the “foodie kitchen” at top of mind.

Homeowners who are considering selling their Chicago home or condo often ask me what they can do to increase the value in their home. I think resale value is something to think about, not when you’re ready to list your home on the market, but all the way back to when you make the purchase in the first place. Many homes’ features might not bother you while you live there, but could be very unappealing to a buyer down the line.

Maximizing Resale Price in Your Chicago Condo

More and more, the kitchen is becoming the “hub” for activity in today’s homes. Today’s buyers want to see this space dressed to the nines, and a “foodie” centric kitchen does just that. Having some of all of the features I am outlining here will provide that “wow” factor and certainly help in getting the maximum price for your home.

A few of the must-have features in today’s kitchen include:

-Under-the-counter appliances: Kitchen islands equipped with a manual lift bring heavy appliances to waist level when in use, and ensure they are easily stowed away when not.

-Faucet upgrades: Adding a tap for filtered, hot water to the sink eliminates the need for a water purification system in the refrigerator or a tea kettle for quick hot water.

-In-counter steamer: Fresh steamed vegetables at the push of a button? An in-counter steamer takes away the need for cleaning and storing extra dishes for preparing farmer’s market favorites

-Custom storage: A place for everything and everything in its place—custom storage allows a big kitchen to be a utilitarian space without being overrun with clutter.

-Electrical outlets: The modern cook needs more than just a place to plug the toaster in. Ample outlets allow room for multi-task cooking, baking, charging stations

Flatscreen TV: The kitchen is evolving into the central zone of today’s homes, making it the center of activities like homework, entertaining, watching sports, etc.

Today’s market is still somewhat volatile, so it’s more important than ever to consider the future when making a Chicago real estate purchase. A property’s unique characteristics and variables (like kitchen upgrades such as these) can affect the future value when it’s time to sell. As today’s “foodies” shop for homes, features like these could truly set your Chicago home far beyond what else is on the market.

If you’re interesting in learning more about design trends in Chicago real estate, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Now is Certainly the Time to Purchase Chicago Real Estate

In an industry like real estate, which can be as unpredictable as the stock market and have its share of ups and downs, I’ve seen a number of buyers say the words that put hindsight at 20/20: could have, would have, should have. We can never know if the “perfect” window for purchasing real estate exists, but by the time we’ve pinpointed it, it’s long behind us.

As I have indicated to many of my clients, I am seeing the Chicago real estate market turning around. Although it is nowhere near the market we had before the slowdown, most of my realtor colleagues have agreed that they are having a better year than they did last year. Other sources and statistics like the Wall Street Journal and economists have confirmed my observations.

Home Building Numbers a Good Indicator for Real Estate

Residential construction picked up momentum in September, now running at its highest level in four years–that’s a positive sign for the real estate market, the jobs market and the broader U.S. economy.

Many economists say that a sustained rise in construction could really build economic growth, drive down unemployment and provide hope for jobs in the construction industry. These factors are crucial in building confidence in the economy again, and maintaining a positive outlook that the real estate market is on the up-and-up.

Should You Wait to Buy Chicago Real Estate?

The quick answer here is, well, yes. Now is truly the time to purchase property, especially single-family homes, as I believe this is where we’ll see an increase in value over the coming years. Plus, this allows you to avoid the expense or condo assessments, which can easily run $2,500 to $3,500 a month for a large, 3,500-square-foot unit. That comes out to $42,000 each year, and can’t be claimed on your taxes, so many buyers want to avoid this added cost with a new home.

These assessments also increase with inflation or added amenities, so often it isn’t a fixed cost. For younger clients or those who don’t need or want the space of a single-family home, the way to to avoid large condo assessments is to consider moving into a 6-flat or 8-flat–assessments in these types of buildings are very affordable.

But regardless of the type of property you’re looking for, now is simply a great opportunity for buyers. When it comes to Chicago real estate, the last quarter is a fantastic time to purchase, as most sellers on the market are particularly motivated to move their properties before the notoriously slow winter period. If you have a realtor who knows the ins and outs of negotiating prices as well as the importance of resale value, you’re in a great position.

But keep in mind that those variables can–and will–change. Just like you can’t perfectly time the stock market, we won’t know that this opportunity is gone until it has already passed. You don’t want to be thinking “coulda-woulda-shoulda” after you’ve watched the market continue to look up.

To learn more about making a home purchase now or to search Chicago homes for sale, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Consider Your Lifestyle Before Making a Chicago Real Estate Purchase

Chicago isn’t short on options when it comes to luxury real estate in the city. But choosing the right home doesn’t always mean finding the one that’s the most-buzzed about on the market—buyers must think about their own lifestyle and how it plays into their needs and wants in a Chicago home.

This is one of the first things I discuss with a new client. My background is in marketing research, so I tend to bundle questions together so I can get the best understanding of where you are in your life cycle and am more apt to focus in on the exact type of property you’d like. There are a few areas I always focus on first: location, property features and resale value.

Location of Chicago Real Estate is Key

One of the top decisions a buyer has is: what neighborhood can you afford, and what neighborhood do you want to be in? Chicago is full of hip, emerging neighborhoods that can change with the season—but in this volatile market, it’s best to stick with communities that are tried and true, both for your own satisfaction and for resale value down the line. Homes in neighborhoods like Lincoln Park hold their value because people know and trust that area.

Location is also key because of school districts—the better the reputation of nearby schools, the better position a home will be in for resale down the road. Proximity to Chicago’s best schools certainly helps a property hold its value and even increase in the long term. As schools change and demand goes up for a particular one, the neighborhood changes as well.

Elements of a Chicago Home

A property’s features, layout, and seemingly tiny nuances are all crucial things to think about. For single-family homes, I advise my clients to make sure there are at least three bedrooms on the same floor. Young buyers who have small children or are planning for children typically want them on the same floor as their master.

Buyers should also think about what elements are most important to you—one recent must-have in Chicago real estate is a super kitchen; one that caters to the “foodie” lifestyle that is prime for hosting and entertaining. Food is one of the top topics among young people and even baby boomers, and they want a kitchen space that fits in with their lifestyle. Elements like these are important to today’s buyers, but also hold their value over time.

Note, it might seem odd to be talking about resale when you’re initially buying a home, but this is another important consideration for buyers that can easily end up on the back burner.

With every buying season, there are also design trends that I help my clients think about in the long term. What’s hot now may not be so hot five years from now (again, thinking about resale value). For example, a client I worked with about 8 years ago was buying a new construction condo during a time that many Chicago condos had light-colored floors. That might seem to be a fairly neutral feature, but I suggested they go with dark floors and cabinets as they were able to select finishes, so as not to fall into a trend that wouldn’t be popular down the line. When it was time for them to sell, their unit sold before any others in the building, as this was something that kept their property current compared to what else was on the market and at the same address.

Purchasing Chicago Real Estate Now

Right now, the cost of money to buy a home is cheaper than any of us will likely see in our lifetimes. The history of real estate shows that, once inflation kicks in, so too will the move-in price for buying a Chicago home. And of course, we don’t know that this is happening until its already underway.

If you’re looking for the right Chicago property for your lifestyle to take advantage of the lending market we’re in, give me a call. We can talk more about your needs and wants in a home and take a closer look at the opportunity there is for buyers right now. Contact me at 312-264-5853 or email me at ssalnick@dreamtown.com.