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So my wife and I want to buy a house in a Chicago suburb...
The million dollar question is...WHERE? Where can we find a nice 3-4 br home where taxes aren't ridiculous (Most of Lake Co!) and in an area that is near a Metra station for easy commuting into the city. We lived in Chicago (city) for 2 years and now are out in Nevada but hope to be returning soon. We still have not a clue about the burbs though! We see a ton online, but still aren't sure what burb will give us our best bang for our buck with average taxes for the area. Also, a safe place is very important. We don't want to be nervous taking our dog for a walk at night.
I posted some threads in the past on certain burbs, but still am at square one not having even narrowed down to a few burbs. We are young (28 and 32) and would like a place where there's somewhat of a nightlife for the nights we want to get out.
How much is your budget for the home? I know that you inquired about Homewood in your last post and that thread has gotten a little sidetracked. Homewood/Flossmoor will give you the most bang for your buck. I live in the area. Don't get caught up in the hoopla of white flight. I was talking to a jeweler who works out in OP. He lives in Homewood. He grew up there. I asked him about the hoopla in regards to the town going down? He replied, if you take care of an area and everyone is on the same page, everything is fine. He is Caucasian and has lived in the area for 40 years and owned several jewelery establishements. The area is decent. He lives in Old Homewood. If you think about all areas including your affluent ones, they have "pockets". Lincoln Park has pockets. If you are looking for a decent area to walk your dog, and stay within your budget, look at Homewood. In regards to students at HF being 50% black, that may be the case. The Caucasians that live in the area have adult children that chose to stay in the City or left the state altogether. I am in my late 30's and my husband and I are considered younger parents. I think before people make assumptions, you must look at all variables. Also, there are a lot of younger couples in your age group who are moving into the area as well. The elementary schools will have a majority "White" population. Also, as for Asians at HF, there are a handful including Indians. People are moving into the area to get more bang for your buck. People are losing their jobs left and right and can't afford to run every five minutes when they see Black people. If the area is so bad, why are they building up? Businesses are moving to the area.
The fact is, my wife and I could afford a $350k home, but we don't want to live paycheck to paycheck and change our lifestyle. We travel overseas at least 2x a year and want to continue without racking up debt. I say, we would like to find a place less than $200k b/c it would allow us to put about 40% down and have a very managable mortgage payment. But, we can extend higher if the right opportunity - ie, lower taxes but higher purchase price.
Basic problem I see is lack of understanding of the real issues between what you can afford and what you want...
...as a real estate agent that has dealt with MANY people that can afford and say they only want to spend x - (x-3). I have never found that they are happy with the TOWNS or houses that are at the lower price point. I mean that. If I show some folks a nice home for $350k in a nice town and then I go to some crappy home in the same town for $200k the buyers would literally weep at what they would need to get the house to the standard set by the first. Similalry, if I drive out to some other town where there are homes are the same quality / size but only 2/3 the price the commute is going to be miserable, the amenities will be a HUGE step down, the overall appeal is so much less that buyers will literally think I am trying to trick them. I swear I have had this happen!
Not too many years ago I was showing a couple a nice home in Western Springs. They blanched at the asking price. I happened to be "Missouri" sort of mood (SHOW ME) so the next day I ran some MLS and came up with some VERY similar homes in Flossmore. The whole way down the buyers thought I was KIDNAPPING them on our drive along the expressways. When we got close and I pointed out the groceries and even churches I did get the whole "well it does look sorta like Western Springs" but the couple did also not hide their preference for the more carefully maintained spots. The houses really were close to carbon copies. The couple was upset that the mix of families was not like Western Springs and ultimately did buy in Western Springs, mostly, they claim, due to much better train service...
If the OP wants to go cheap I cannot stress enough the wisdom in looking for homes that NEED WORK in desirable areas. With an appropriate loan this is a far safer bet than buying in a town where " your money goes further" because that is only thinking about TODAY and homes are for LONG HAUL!
The million dollar question is...WHERE? Where can we find a nice 3-4 br home where taxes aren't ridiculous (Most of Lake Co!) and in an area that is near a Metra station for easy commuting into the city. We lived in Chicago (city) for 2 years and now are out in Nevada but hope to be returning soon. We still have not a clue about the burbs though! We see a ton online, but still aren't sure what burb will give us our best bang for our buck with average taxes for the area. Also, a safe place is very important. We don't want to be nervous taking our dog for a walk at night.
I posted some threads in the past on certain burbs, but still am at square one not having even narrowed down to a few burbs. We are young (28 and 32) and would like a place where there's somewhat of a nightlife for the nights we want to get out.
Any feedback would be appreciated.
I suggest with your projected budget look also into townhome or even condo for even more choices. Not sure if thats something you considered.
The usual sought after lists of desirable towns on this forum will be easy to do further research on by putting them in the "Search" at the top of the page.Lots and lots of info on here.
So, look into Arlington Hts., Elmhurst,(both very easy trip to O'hare) to start. Very nice, young professionals, active towns. A bit further is Downers Grove,LaGrange. All these towns are very stable and good "long haul investments".
Those are all very easy commutes to the city via Metra and its a start for you. (Then theres Westchester,Geneva/St Charles,Glen Ellyn or Naperville,all thought of highly).
Good luck, there are alot of good bargains out there. A few Years ago, such a price range would not get much but you should find some options/good investments now in some of these sought after areas.
We are not interested in townhomes or condos. Understandably, realtors push to find a couple a home in a higher price bracket - of course! Higher commission right? This isn't our first rodeo, we've bought and sold a home before so aren't your typical nieve first time home buyers. I am asking about nice suburbs given our situation and price range, not looking to be taken for a ride by a sneaky realtor!!!
We are not interested in townhomes or condos. Understandably, realtors push to find a couple a home in a higher price bracket - of course! Higher commission right? This isn't our first rodeo, we've bought and sold a home before so aren't your typical nieve first time home buyers. I am asking about nice suburbs given our situation and price range, not looking to be taken for a ride by a sneaky realtor!!!
So, you want to purchase a home here using your Nevada employment to qualify you, then quit your job and move here to start a new business and you call Realtors sneaky?
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