Why do we Fall in Love with Chicago Real Estate?

Maybe it’s the view. The square footage. The architectural details.

There are a lot of reasons why buyers become enamored with a particular Chicago home or condo. Many of my clients say they go home after seeing a property only to learn they can’t stop thinking about it.

A recent survey by realtor.com revealed that “falling in love” with a house is a common affair. Nearly 70% of respondents said they have had a home crush—being drawn to the same property over and over again. They compared home crushes to the same kind of pitter-patter feeling in our hearts that comes with having a crush on another person.

Love or real estate, finding “the one” is often no easy task, and can often be heartbreaking, depending on the outcome. Some of the other interesting findings from the survey included:

  • Women are more likely to crush on a home that is out of their price range.
  • Outdoor living spaces are the most attractive home attributes to both men and women. In Chicago, having a desk, porch or yard to take in our short summers is crucial to many buyers.
  • Open-floor plans and garage space rank on the wish lists for men and women, respectively.
  • Most buyers find their first crush online. The web has made it easier than ever to “stalk” homes that are on and off the market. Once buyers find a home they’re interested in, about one-third opt to see it in person.

Falling for Chicago Real Estate You Can’t Have
It’s not uncommon for homebuyers to fall head over heels with a Chicago home, only to learn it’s already under contract. Some might even put their home search on hold and hope a contract falls through. Others might move on but will always remember the one, and watch the market for years after, hoping it will pop up again.

If you find yourself in love with an unavailable home, here are a few suggestions for making the most out of the situation:

Remember your price range: Sticking to your budget is still a crucial part of home buying. If you’re gravitating toward homes that are out of range, rank what’s most important to you to in a home that could be a big chunk of the budget. For example, if it’s square footage you want, perhaps a different neighborhood might have bigger homes without the price tag of a coveted location. If you want amenities in a Chicago condo building, something with one less bedroom or on a lower floor could bring it down into your price range.

List out what you like: What is it about a certain property that has you so enamored? Many features can likely be added to your list of needs and wants for home shopping. You might even consider remodeling, redecorating or even building a new home from scratch to incorporate the characteristics you love.

Know your deal breakers: Make sure you know what you don’t want so you can weed those properties out early. If you find your #1 choice in a Chicago home isn’t available, you don’t want to find yourself settling for something you know you didn’t want from the beginning.

You can read more about the realtor.com survey here.  To find Chicago real estate that might make you fall in love, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

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