Are You Making Repairs to Your Chicago Real Estate?

December 12, 2010

chicago real estate home repairsAre you considering making repairs to your Chicago real estate?  Is it because you just can’t put off repairs any longer? Or, are you fixing your home up in hopes that you can sell it? It seems that more and more homeowners are making repairs to their homes. This is confirmed by real estate expert Ilyce Glink in her recent article, “

Best Time of the Year to Start Big Home Improvement Projects.”

Glink reports on the ServiceMagic Q3 Remodeling and Repair Index, which finds that homeowners are focusing more on necessary repairs and less on remodeling and addition projects. These repairs are coming after a period that Equifax has previously reported as a time focused on paying down consumer debt. In fact, 46 percent of the homeowners say they have put off making repairs for more than a year, but could wait no longer. The report shows an increase in repair and maintenance services home necessities such as heating and furnace systems, septic tank and well services, roofing, and window installation.

While the ServiceMagic report seems to show people making repairs as they prepare to stay in their homes for awhile longer, sometimes real estate agents will have their sellers make repairs so homes will be more attractive to potential buyers. With other positive news in the credit-sphere – such as the loosening of credit to sub-prime borrowers and historically low interest rates – here’s hoping the trend is shifting toward those who are getting ready to become active in the housing market.

To read the results of the study, Glink’s analysis and her tips if you’re looking to have major work performed on your Chicago home, visit the

Equifax Personal Finance Blog. Then report back here to let us know if you’re making repairs to your home and why you’re choosing to make them now.

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