New to real estate transactions? Whether you are thinking of buying a home or selling your property in Hinsdale, IL, these quick and easy guides will get you started on the right track:
Buying a Home: The Dos and Don’ts
- DO your homework on the neighborhood you’re moving into
Get to know as much as you can about your potential future community. Read features and reviews online. Plan visits for a quiet weekday, a busy weekend, and maybe even an eventful evening. Drive around. Talk to your future neighbors.
- DON’T wait until the last minute to get a mortgage preapproval
Get preapproved early so you have a clear idea of how much home you can afford. Preapproval also works to your advantage by convincing sellers about how serious and prepared you are as a buyer.
- DO prepare and organize your documents
Expect to provide personal and financial documents when you try to secure a loan. It pays to have a “green file” handy – a folder that contains your various bank and investment statements, credit card statements of account, tax returns for at least the previous two years, and copies of leases.
- DON’T fall for the priciest home on the market
The priciest home will get you the slowest appreciating property in the neighborhood, the smallest returns for your investment, and eventually a challenging resale.
Selling a Home: The Dos and Don’ts
- DO extend your showing schedules
If you really want to convince interested buyers to choose your home, be flexible and generous with your viewing and open house schedules. Include evenings and extended weekend hours to accommodate serious prospects
who might be otherwise be preoccupied with work.
- DON’T let your emotions dictate the price of your property
Selling a home is often an emotional process. You’re not just letting go of a piece of property, you are also saying goodbye to the memories it holds. Don’t let sentimental bias influence your pricing. It’s hard for sellers to recover from overpricing during the initial listing. Your property might be left ignored on the market until you’re forced to drop your price too far less than its actual market rate.
- DO use digital marketing
Maximize the high quality and extensive reach that modern digital technologies offer. From high-resolution photography to aerial drone videos and from online listings to social media posts and advertisements, home sellers today have a wealth of marketing tools at their disposal.
- DON’T do major renovations before selling
While it makes sense to spruce up your home before putting it on the market, avoid flashy, expensive renovations and stick to minor, practical repairs and updates instead. Cleaning or fixing up your entryway, for example, can earn you greater returns than a full re-do of your main room.
Contact Dave and Kathy for all your Hinsdale, IL real estate needs!
Buying or selling a home in Hinsdale, Burr Ridge, or Western Springs? Trust Dave and Kathy Ricordati to help you achieve your real estate goals in Greater Chicago’s Western Suburbs.