Wednesday, September 20, 2017

3 Things to Know Before Upsizing to a New North Shore Home

If you've been considering buying a larger or more luxurious home on Chicago's North Shore, now is the time to start taking those next steps! Buyer demand is high, which means you could be competing with others for a property, however, with home prices and mortgage rates expected to increase, you won't want to wait any longer.

As your North Shore real estate expert, I'm here to help you through your next home purchase in Winnetka, Glencoe, Deerfield, Highland Park, Northbrook and the surrounding communities— and that means making sure you are an informed buyer, especially when upsizing. Below are three things you should know about moving up to a new home this year:

Note what you want vs. what you need
When it comes to your home search, it's important to note what you want versus what you need. Know what is absolutely essential in your new home, especially if you're upsizing. Do you need a bigger kitchen for hosting gatherings or do you just like the idea of one? Do you need a bigger yard due to pets and kids? Make a list of priorities before moving forward or you could risk ending up in a home with buyer's remorse!

Do the math
It's no secret that a bigger home will likely come with a bigger payment. You will need to do the math and research all costs involved before you commit to upsizing to a larger North Shore home. For instance, how much extra in maintenance costs will you have or will you need to purchase additional equipment to tackle it yourself? Is the home is in an association? How much are your dues every month? It's wise to have these all accounted for before starting your home search in Winnetka, Glencoe, Deerfield, Highland Park, and Northbrook.

Think about resale
No matter what size home you are buying, it is always smart to put on your future buyer hat and think about resale. If you choose the home and location wisely, you can make a profit when the time comes to sell. Think about what buyers will want, what area is up and coming or which neighborhood will be desirable given your timeline to sell. Think about the number of bedrooms and how that will affect resale. Even if you're upsizing now and plan to stay for decades, you will thank yourself later when it's time to potentially downsize.

Do not hesitate to contact me with any questions about buying a home on Chicago's North Shore! Whether you are upsizing, downsizing, or simply looking for a new home in a new neighborhood, you can count on me as your local real estate resource.

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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