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Happy March! The spring market is officially kicking off in Chicago, and it’s shaping up to be an active season for both buyers and sellers.
Chicago spring market is here
Inventory remains low across many Chicago neighborhoods, which means well-priced homes are still seeing strong interest and, in some cases, multiple offers. If you’re thinking about buying this year, getting preapproved early is one of the best ways to be ready when the right place hits the market. A preapproval helps you understand your price range, strengthens your offer, and lets you move quickly in a competitive situation.
You’re always welcome to shop around for the best lending fit, or reach out if you’d like recommendations for trusted local lenders.
If you’re considering selling, this is an excellent time to explore your options. With plenty of active buyers and limited inventory, many sellers are in a favorable position. I’m happy to provide a complimentary listing analysis so you can get a clear picture of your current market value, possible pricing strategies, and simple prep tips to help your home shine this spring.
Do all home improvements add value?
Not every project shows up the same way on resale, and that’s perfectly okay. Some updates, such as new windows, a roof replacement, or upgraded mechanicals, are more about protecting the long term condition and efficiency of the home than impressing buyers at first glance. These can still be very important because they reduce future repair risk and can be a selling point during inspections.
Other improvements, like refreshed kitchens, modernized bathrooms, or well designed outdoor living spaces, tend to catch buyers’ eyes immediately and can increase your home’s perceived value. The key is to balance updates that improve your daily life with those that are likely to have the strongest impact when you eventually sell. If resale is on your mind, I’m happy to talk through which projects make the most sense for your home, price point, and neighborhood.
One hot design trend: Color Drenched RoomsOne standout trend right now is “color drenched rooms.” Instead of just painting an accent wall, homeowners are wrapping the walls, trim, doors, and sometimes even the ceiling in the same rich hue for a fully immersive look. The result is a space that feels intentional, cozy, and a bit dramatic in the best way. Buyers and design lovers are drawn to these rooms because they feel custom and high end, and they photograph beautifully for listings and social media. If you’re thinking about a refresh, a bold, well chosen color in a smaller space, like a powder room, office, or bedroom, can be a fun way to lean into this trend without overwhelming your entire home.
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March maintenance reminder: clean gutters and downspouts
As we transition out of winter, March is a great time to clean and inspect gutters and downspouts. Clearing out leaves, sticks, and winter debris helps ensure water can flow away from your home properly. This simple task can protect your roof, siding, and foundation from moisture issues as snow melts and spring rain picks up.
While you’re at it, it’s also a good idea to take a quick walk around the exterior and look for any loose shingles, damaged caulking, or cracks that may have appeared over the winter so you can address them early.
What NOT to do before you apply for a mortgage (and why)
Buy a new car
That shiny SUV comes with a shiny new payment. Lenders look at your debt to income ratio, and a car loan can make it look like you can’t comfortably afford a home payment too.
Open a bunch of new credit cards
Every new account means a hard inquiry and a shorter credit history. Both can ding your credit score and push your interest rate and monthly payment higher.
Run up big balances on existing cards
High credit utilization (using a big chunk of your available credit) signals risk to lenders. Lower utilization means a stronger credit profile and better loan terms.
Switch jobs or become self employed right before applying
Lenders love stable income. A recent job change, commission only role, or brand new business can make your income look less reliable, even if you’re actually earning more.
Make large unexplained deposits or transfers
Big, mystery deposits into your account raise questions. Underwriters want to see that your down payment and closing funds are seasoned, documented, and not another loan in disguise.
Bottom line: for a few months before you buy, keep your finances boring with a steady job, low balances, and no big new debts so your mortgage approval isn’t the surprise twist in your home buying story.
First time buyer tip of the month
Once you’ve set a budget and talked with a lender, the next smart step is to think beyond the closing table and plan for day to day homeownership. Create a simple monthly “owning” budget that includes not only your mortgage, taxes, and insurance, but also utilities, internet, parking, commuting costs, and a realistic maintenance cushion. And don’t forget the fun and necessary pieces like furnishing and decorating your new home.
From there, map out a 6 to 12 month savings plan for move in expenses such as window treatments, basic furniture, small repairs, and an emergency fund for surprises. Having this bigger picture plan in place helps you choose a home that fits both your lifestyle and long term financial comfort, so the excitement of buying a home doesn’t turn into stress once you get the keys.
Thank you for joining me at the Wolfhound!Thank you to everyone who joined me at The Wolfhound for the New Buyer Presentation. It was wonderful to connect, answer questions, and walk through the buying process together. If you missed the presentation, I’m always happy to hop on a call and guide you through each step of the homebuyer journey, from preapproval to closing. I’ll also be sharing details about another session later this month, so stay tuned! |
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Thank you for reading the second issue of this newsletter and for trusting me as a resource for all things real estate and home. If you have questions about the Chicago market, are considering a move this year, or want recommendations for lenders, contractors, or designers, I’m here to help.
I’ll leave you with an Irish blessing for your home as we head toward St. Patrick’s Day:
“May your home be a place where worries grow smaller and memories grow big.
May every room welcome laughter,
every window let in hope,
and every door open to new opportunities.”
Sláinte,
Katie
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