Three tips to consider when selling your Chicago home

In the past, retirees were able to depend on real estate to provide for their retirement years. However, sinking values have made it much harder to get desirable asking prices for homes for sale in Chicago, IL. Many young families are hesitant to enter the marketplace, which creates unique problems for boomers who want to sell, downsize and retire.

While many homebuyers have to consider if their new communities will have good transit options, is safe and friendly toward seniors, they also need to worry about making their homes look attractive to available buyers.

With approximately 26 million boomers expected to sell their homes by 2030, according to the Bipartisan Policy Center, homeowners need to understand how they can make their properties look their very best.

Here are three tips for selling your Chicago home:

1.) Let's face it - the majority of homebuyers today begin their search online. The first few characteristics they notice come from visual elements, so homeowners need to make sure the exteriors of their houses are attractive. This includes a trimmed and organized lawn, complete with a few aesthetic touches. In addition to the yard, the home should be freshly painted and cleaned before it is photographed.

2.) It's also important for home sellers to know their minimum acceptable price. The number should be determined after spending time with a variety of real estate agents, as well as conducting some market analysis. Understanding the amount of money a seller can expect can help tailor conversations with prospective buyers, so when an appropriate offer is presented, it won't pass the seller by.

3.) It's easy to get caught up in the housing rush, as buyers want to make sure they get what they deserve for their homes. However, getting too greedy can lead to unfavorable outcomes, as potential buyers may not be as willing to settle if there is no room for negotiations. Therefore, even if a home has served its purpose for several decades, its owner needs to know when it's time to cut ties and take the offer.

When it comes to selling property, especially in tough markets like Chicago, homeowners need to make sure they're educated on best practices and willing to accept the best bid that comes their way. It can be difficult to part ways with a long-time asset, but relieving the responsibility of homeownership may be worthwhile these days.