Wednesday, February 10, 2016

North Shore Chicago Home Factors That Will Affect Your Resale Value

Spring is just around the corner and if you've been planning to sell your North Shore home, you might be taking the necessary steps to get the property on the market for the busy season. However, what you may not realize is that certain features of your home in Winnetka, Highland Park, Glencoe, Northbrook or Deerfield will have an effect on its value.

Features like location, age, outdated or owner-specific renovations, size and number of bedrooms all determine how much your North Shore home is worth. Homeowners would be wise to keep the following in mind in order to have a more realistic outlook on what your property could sell for this spring:

Your home's proximity to major highways, vacant lots or unsightly buildings can all hold back its value. Keep in mind that even homes in the same neighborhood can have drastically different listing prices, depending on their surroundings— For instance, one is on a quiet, inside street and the other backs up to a busy intersection.

On the other hand, if your home is in an area that has seen great development over the past few years, your home value may experienced the opposite and see a boost!

Home features like wall-to-wall carpeting, wood paneling and glass bricks are a nod to a past time and could cause buyers to turn away this spring. Along the same lines, renovations that suit only your style like your dream bathroom of unique, colorful tiles could have a similar result. But don't be too quick to stage a major renovation. Small improvement projects like giving spaces a fresh coat of paint could be enough to show buyers the property's potential.

Number of bedrooms
The number of bedrooms and bathrooms in your North Shore home will also dictate its value. Homes with a lack of bedrooms, for instance a 2-bedroom as opposed to a 4-bedroom, will likely price on the lower end of the spectrum, despite other upgrades. Even homes in the most desirable of neighborhoods in Winnetka, Glencoe, Highland Park, Northbrook, Deerfield and the surrounding areas are not likely to see a high home value if they have a low bathroom count.

Ready to sell your home this spring or find out what your property could be worth in today's real estate market? Give me a call! I have nearly three decades of experience in helping North Shore homeowners achieve a timely and successful sale!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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