How to buy a home in Chicago during the spring market

Whether you're in the market already or just considering buying a home, you may be hearing a lot of buzz about how heated the market is. Deciding your next move may be challenging right now. It's true that in many areas (but not all!) inventory is low and demand is higher. There are some supply + demand dynamics at play. I believe that consideration of your path forward requires flexibility, honesty, and a realistic assessment of what is available. However, there are some areas and price points that are easier and less competitive to buy in. If you looking in high demand neighborhoods and are committed to securing a home, here are some pro-tips. 

🏡  Be prepared 

Have your dream team aligned. Connect with a realtor and set up a search. Get your pre-approval letter or proof of funds in advance. Don't wait until you see the perfect listing online to begin the process because that property could sell within days. 

The market moves so fast, it's important to be ready. Set up your access to real time listing updates and private listings here.

🏡  Be available

Due to high buyer demand, showing times for properties are often consolidated to specific days and times. If you're serious about buying in the near future, keep your schedule light from Thursday through Sunday. 

🏡  Take Action

Not only do you need to go see a new listing as soon as possible, if you're feeling the vibes you will want to make an offer quickly. While there are often offer deadlines that allow some time, I don't suggest waiting until the last minute.

🏡  Take advantage of opportunity 

Often I am able to secure homes for buyers through off market or private network listings. I have also sold a few listings this way. Having some flexibility and working with a seller who only wants to sell for the right terms can help avoid a longer home search and multiple offer situations.

🏡  Take the birds eye view 

You may feel like you're making a lot of concessions to the seller in your offer, but remember what you gain- a new home that you will love every day. Your home is your sanctuary, the backdrop of your life. It is essential to your survival and supports your wellbeing. If you need to move, and if a certain home really works for you, it's worth it to make it happen. 

What might your home be worth 5 years from now? Remember, real estate is an investment. The goal is to appreciate!

🏡  Be flexible and honor yourself

If it's not the right time and you're just not finding what you're looking for, don't rush, but stay open to opportunity and keep your pre-approval active. Through subtle fluctuations in the market and seasonal changes, I have helped buyers negotiate their price and secure homes without competition. 

If you want to have the advantage in today's market, let me know what you're looking for, or if you're considering selling. It may be easier than you think! Feel free to reach out.

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