We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies.More info
Eric Marcus Chicago HomesEric Marcus Chicago Homes
Call Us:

773-732-9898

    Contact Us
    Follow us
    The Team

    About Us

    • Meet the Team
    • Success Stories
    • Buyer & Seller Tips
    • Contact Us

    Our Services

    • Seller Services
    • Free Home Valuation
    • Successful Seller Clients
    • Buyer Services
    • Search for Homes
    • Mortgage Calculator
    • Download Our Home Buyer Guide
    Eric Marcus Chicago Homes

    1525 W. Belmont Avenue, Chicago, IL 60657

    • 773-732-9898
    • [email protected]

    Should YOU Love It or List It?

    Despite what real estate reality shows might have led you to believe, the decision to sell your home isn’t simple — and...

    • Eric Marcus
    • March 12th, 2019
    • 5 min read
    Featured Image

     

     

     

    Despite what real estate reality shows might have led you to believe, the decision to sell your home isn’t simple — and it definitely isn’t a decision that you can reach in 30 minutes. This is true even if you never really loved your property in the first place, or it’s become a daily cause of stress. Maybe the commute is awful, your neighbors live to find new ways to annoy you, or the “fixer upper” kitchen is still an avocado-colored nightmare.

    That’s because parting with a home falls into the “major life change” category. Cue the second-guessing, polling all friends and family for opinions, obsessive list-making and mentally running through all scenarios as soon as your head hits the pillow. If you feel like this describes how you feel about parting with your home, it’s time to take a deep breath and consider the signs life has been throwing your way. Here’s how to know if it’s time to sell, refinance, or just stay put.

    The Scenario:

    You're Paying PMI

    It’s A Sign To… Refinance or Do Nothing

    If your down payment was less than 20%, your loan likely came with private mortgage insurance that has added a little extra to your monthly payment. If you now have at least 20% equity in your home, you can refinance your loan in order to remove the PMI. If you don’t have at least 20% equity yet, it might be worth waiting a little bit longer.

    The Scenario:

    You’ve Suddenly Noticed 100 Things You Dislike About Your Home

    It’s A Sign To… Stay Put and Update or Sell

    After the honeymoon phase with your home is over, you may grow to dislike certain features about it that you once loved. However, who is to say that the pattern won’t repeat with a different property? If you’ve only just settled in a short while ago, you haven’t yet learned to live with the home you have. Fight that FOMO (fear of missing out) by making improvements like upgrading the kitchen or bath, fixing up the exterior for a little curb appeal, or even just trying simple fixes like repainting the rooms or adding new furniture. 

    The Scenario: 

    You’ve Just Made A Big Investment

    It’s A Sign To… Stay Put

    Whether you’ve put a lot of money into your home through renovations or upgrades, or you made another big investment in your life (you started a business, went back to school, bought a boat, etc.), you could be stretched a little too thin to sell your home right now. While renovations often add to the value of a home, they don’t guarantee a higher sales price and shouldn’t be the sole motivation for selling. This is especially true if you made highly personal choices in your improvements, like going for fire engine red kitchen cabinetry. Instead, enjoy the new scenery. 

    The Scenario: 

    You’ve Got Debt (But Also Equity)

    It’s A Sign To… Refinance

    Sure, you might profit from the sale of your home, which could help you pay off lingering loans, credit card balances and other types of debt. But that’s not a guarantee. Plus, in order to get the highest offers, you could end up having to invest in making repairs and upgrades. If you’ve built equity, you can refinance to a lower interest rate and a lower monthly payment, thus freeing up more money in your budget. Another option to consider is a cash-out refinance to consolidate your debt. This pays off the balances up front, then you’d make fixed payments on the refinanced loan. 

    The Scenario: 

    You Really Can’t Stand Your Neighborhood Anymore

    It’s A Sign To… Sell

    What was once a quiet suburban road became a popular cut-through for speeding traffic. Your neighbors really leaned into urban farming and now you can’t even enjoy your backyard without constant noise and smells. There isn’t any parking, ever, so you have to walk a mile just to get to your front door. While there are many things you can do to improve your home’s interior and exterior, you can’t change the location. If the idea of heading home makes you miserable, it’s time to find new surroundings. Here’s an extra tip: Make sure to visit potential neighborhoods on weekdays during rush hour and weekend nights to get a true sense of the lifestyle. 

    The Scenario: 

    You’ve Run Out Of Space

    It’s A Sign To… Sell

    Maybe your family has expanded since you bought your one-bedroom, or you decluttered repeatedly but you’d need to become a minimalist to make your space work. Instead of drastically changing your lifestyle, change your home. If budget is a concern, prioritize space over other items on your real estate wish list like a specific neighborhood, high-end amenities, new construction or a newly-updated home.

    Author Photo
    About the author

    Eric Marcus

    773-732-9898
    I was born in South Bend, Indiana where my family owned and operated a small business for over 50 years. Every member of my family has been licensed to practice real estate, and my dad owns a real estate company in Indiana. After graduating with honors from Indiana University in 1991, I earned my CPA and worked for a big six accounting firm in Chicago. Combining my experience and entrepreneurial spirit, I started my own successful accounting business that I ran for 3 years. Next, I embarked on a career as a soybean trader at the Chicago Board of Trade, followed by a successful run as a stock options market maker at the Chicago Board of Options Exchange. I began my real estate career in 2003 as broker/owner of ESM Realty. My team has helped more than 600 clients buy and sell condominiums, townhouses, single family homes, multi-unit residential, and commercial properties. For 14 straight years, we were recognized by Chicago Association of Realtors as Top Producers. Our extensive marketing program includes premium placement on hundreds of websites, morechicagohomes.com and state of the art Facebook advertising. My team works tirelessly to make each client feel like they are our only client! We strive for the highest level of performance every day so that we exceed your highest expectations. Our business is 75%+ referral-based and we want you to not only be our client but our biggest raving fan. In December 2020, I brought my team to Keller Williams ONEChicago with branches in Lincoln Park, Lakeview and O'Hare. To set up a consultation or if you have any questions, please contact me at 773-732-9898.

    Similar posts like this

    Lifestyle

    Little Summer Habits That Make Home Feel Like a Retreat

    Read more

    The Secret Life of a Listing: What Happens Before You Ever Go Live

    Getting a home ready to sell is a lot like producing a reality show. Here’s your backstage pass to what we do before you...
    Read more

    You Found the One. Here’s How to Win It.

    So you’ve toured a dozen homes, scrolled through hundreds more, and finally… you found it. The one. Now comes the real c...
    Read more
    Eric Marcus Chicago Homes

    Your Real Friend in Chicago Real Estate

    Keller Williams ONEChicago

    1525 W. Belmont Avenue, Chicago, IL 60657

    Keller Williams ONEChicago

    1525 W. Belmont Avenue, Chicago, IL 60657

    773-732-9898
    [email protected]

    Footer Links

    • Meet the Team
    • Client Success Stories
    • Read Our Blog
    • Contact Us
    • Seller Services
    • Get Your Home's Value
    • Buyer Services
    • Search Homes for Sale
    Join Our Email List:

    *We respect your inbox. We only send interesting and relevant emails.

    Keller Williams ONEChicago © 2025

    Privacy Policy
    Powered by