Modern beats vintage when it comes to the type of architecture buyers are looking for. According to a Chicago Agent survey, 69 percent of agents’ clients prefer modern homes to 31 percent who prefer vintage homes. This may be due in part to modern homes requiring less maintenance, and therefore, less money for upkeep. However, while there are programs out there to help homeowners save money when it comes to preserving their vintage homes, such as the Energy$avers program, agents say only 13 percent of their clients know of this program and want to take advantage of what it offers.
“Clients in my target markets – Oak Park and River Forest – like modern and vintage, but we have more vintage requests since most of the inventory is 80-plus years old.” KARA KELLER, MANAGING BROKER, MSK REALTY, LLC
“Many young people want the newer homes. They are more interested in convenience than in rehab and charm. They are often dual income families with little time to do big repairs or rehabs, would have to hire it all out and are not interested in the ‘sweat equity’ concept that helped the boomers build equity and wealth. While there are some people who love the charm of the old neighborhood and the vintage homes, they tend to have the money and the means to take care of the problems.”
BOBBIE GERBRECHT GRAYSON, MANAGING BROKER,
RE/MAX GREAT AMERICAN NORTH