Lesser home in South Barrington vs More home in Naperville?

[pinipig523]

Originally Posted by cubssoxfan

5,250SF. That is A LOT of house to heat, cool, clean and pay taxes on. Unless you have many children, I would look at smaller homes and really focus on the layout and space utilization of the homes you are considering. Ever read the book "The Millionaire Next Door"?

Love the layout of this custom home... It has everything we would ever need.

[JacksonPanther]

Originally Posted by cubssoxfan

5,250SF. That is A LOT of house to heat, cool, clean and pay taxes on. Unless you have many children, I would look at smaller homes and really focus on the layout and space utilization of the homes you are considering. Ever read the book "The Millionaire Next Door"?

Why lecture the OP on his home choice? He knows what he can afford, he knows what we wants to spend on utilities. Perhaps he has so much coin that mortgage plus utilities is a drop in the bucket - perhaps 5,000 square feet IS much less house than he could spend if he stretched himself.

Point is, we have no idea of OP's financial situation. Let's just take him at his word, and give him the advice he asked for.

To the OP, you will not lose financially because you bought a home in Naperville versus Barrington, due to the schools. They are two very different towns, and usually what attracts someone to a place like Naperville (a "big" small town, with an active downtown, lots of high-tech companies, commercial areas everywhere), will not attract that same person to a place like Barrington (horse farms, huge lot sizes, much more "remote" feeling, no significant employers or commercial development in the town limits).

I think your decision gets made on the lifestyle you want, instead of the particular house.

[pinipig523]

Originally Posted by JacksonPanther

Why lecture the OP on his home choice? He knows what he can afford, he knows what we wants to spend on utilities. Perhaps he has so much coin that mortgage plus utilities is a drop in the bucket - perhaps 5,000 square feet IS much less house than he could spend if he stretched himself.

Point is, we have no idea of OP's financial situation. Let's just take him at his word, and give him the advice he asked for.

To the OP, you will not lose financially because you bought a home in Naperville versus Barrington, due to the schools. They are two very different towns, and usually what attracts someone to a place like Naperville (a "big" small town, with an active downtown, lots of high-tech companies, commercial areas everywhere), will not attract that same person to a place like Barrington (horse farms, huge lot sizes, much more "remote" feeling, no significant employers or commercial development in the town limits).

I think your decision gets made on the lifestyle you want, instead of the particular house.

Best post I've seen and this puts the 2 in perspective. The two towns draw different desires and not one is necessarily better than the other. Thanks!

[chet everett]

While there are probably more well known large employers inside the incorporated boundaries of Naperville there are plenty of large employers near enough to Barrington, which has far more compact borders, to call distance to employment a wash.

it is also untrue that Barrington has no significant commercial development -- both in the heart of town, which does have several blocks of typical suburban shops, eateries and small offices as well as along the arterials that support numerous car dealers, strip malls and "power centers" it is no longer the rural oasis it once was. There has been a big increase in the same sort of development in Barrington that once characterized the Naperville boom as well as surrounding towns.

Although schools vary not just in numerical performance, but also organization and "character" the share some traits. While Naperville has over 140,000 residents the number who who choose to live in the area served by Naperville North are much smaller and are likely placing a pretty serious emphasis on education -- many parents in that area come from an academically challenge background and want similar demanding standards for their children. The number of such families is both less likely to be encountered in Barrington due to it's much smaller size and different history. That said the success and competitiveness that parents who choose to live in the Barrington area is fostered in some ways that are quite similar -- success at sports and academics that may not be quite so technically demanding is a big part of the experience in either area.

Similarly the folks that shop the larger properties in Naperville in the less central parts of town may very well envision the kind of idealized rural lifestyle that many folks associate with Barrington. The area nearer Lisle has several horse properties and there is a tack store over their too.

With over a hundred thousand residents it is not unfair to say Naperville is like taking all the towns around Barrington and throwing them into the same pool for comparison...

I further will reiterate that in current market conditions buying new construction in either area is a very risky proposition. Existing homes represent a much better value, and given that neither land prices nor building materials / labor have retreated nearly as much as prices of existing homes one would almost certainly have negative equity in new construction for quite some time. With the right distressed sale, and some smart upgrades would could have positive equity almost instantly for an existing home... If your kids were tied in to either area and you were out going your home I might have different advice, but for someone looking for good returns and not yet having attachment to either town I see no advantage to new construction in eight area. Both are rather financially worrisome...

[cubssoxfan]

Originally Posted by JacksonPanther

Why lecture the OP on his home choice? He knows what he can afford, he knows what we wants to spend on utilities. Perhaps he has so much coin that mortgage plus utilities is a drop in the bucket - perhaps 5,000 square feet IS much less house than he could spend if he stretched himself.

Point is, we have no idea of OP's financial situation. Let's just take him at his word, and give him the advice he asked for.

To the OP, you will not lose financially because you bought a home in Naperville versus Barrington, due to the schools. They are two very different towns, and usually what attracts someone to a place like Naperville (a "big" small town, with an active downtown, lots of high-tech companies, commercial areas everywhere), will not attract that same person to a place like Barrington (horse farms, huge lot sizes, much more "remote" feeling, no significant employers or commercial development in the town limits).

I think your decision gets made on the lifestyle you want, instead of the particular house.

You are correct. Different thinking stemming from different income levels, perhaps? But every once in a while I remember the point in the "Millionaire Next Door" where they ask if the small business owner living in a modest home, driving the 3-5 year old car is poorer than the doctor or lawyer living in a very large house driving brand new luxury automobiles is. The answer is surprising and boils down to "Is your retirement and emergency savings funded remarkably well? If yes, enjoy the "fruits of your labor". If not, time for some voluntary simplicity!

[GoCUBS1]

Originally Posted by chet everett

Although schools vary not just in numerical performance, but also organization and "character" the share some traits. While Naperville has over 140,000 residents the number who who choose to live in the area served by Naperville North are much smaller and are likely placing a pretty serious emphasis on education -- many parents in that area come from an academically challenge background and want similar demanding standards for their children. The number of such families is both less likely to be encountered in Barrington due to it's much smaller size and different history.

Please provide stats when making such claims. When looking at stats from this C-D site, I do not see a significant difference in resident educational levels between the two towns:

Resident Educational Attainment Levels -

Barrington -
Bachelors = 34%
Masters = 18%
Professional = 4%

Naperville -
Bachelors = 37%
Masters = 17%
Professional = 3%


Read more: http://www.city-data.com/city/Barrin...#ixzz1DOuVmh8k

http://www.city-data.com/city/Naperville-Illinois.html

Originally Posted by chet everett

That said the success and competitiveness that parents who choose to live in the Barrington area is fostered in some ways that are quite similar -- success at sports and academics that may not be quite so technically demanding is a big part of the experience in either area.

Please also provide some specific stats on this as I know both professional athletes and top academic leaders who live in Barrington and/or graduated from its schools.

[Larry Siegel]

Originally Posted by chet everett

HUGE difference in commute --

Huge difference in commute to where?

[linicx]

Real people build dream homes. A 1000 sq ft can make a difference in lifestyle. I bought and sold a lot of houses in my life and talked about it for 50 years; mother was a broker. I look at houses differently, especially spec houses that are staged. I look for closet space, shelf space and drawers in the kitchen. I look at how the house and garage is laid out in relation to how my household lives. I much perfer an open floor plan to short hallways and extra stair steps. Mostly I look at money. If I cannot afford to lose a few dollars in an emergency sale, I keep looking for my house.

If I was younger, if the money for my retirement and emergencies were well planned, and if I had the $750K and real estate taxes covered I would build my dream house in Barrington in a heartbeat because I like horses, and I also like Fox River Valley very much. .

[chet everett]

My point was that BOTH Barrington AND most of Naperville are percieved as good locations for "successful and success oriented" people. My comments about the relative number of Naperville residents that deliberately choose to live inside the Naperville North attendance area was more about the fact that I doubt the OP is looking at a "to-be-built" house in that part of town and that may influence the kind of decision he makes...

I still think it a more than a little nuts to focus on new construction with SO MUCH really first rate nearly new inventory on the market. In many areas prices for existing homes are below what one could ever hope to build for. The risk of new construction being severally un-economically sound is extreme.

Originally Posted by GoCUBS1

Please provide stats when making such claims. When looking at stats from this C-D site, I do not see a significant difference in resident educational levels between the two towns:

Resident Educational Attainment Levels -

Barrington -
Bachelors = 34%
Masters = 18%
Professional = 4%

Naperville -
Bachelors = 37%
Masters = 17%
Professional = 3%


Read more: http://www.city-data.com/city/Barrin...#ixzz1DOuVmh8k

http://www.city-data.com/city/Naperville-Illinois.html




Please also provide some specific stats on this as I know both professional athletes and top academic leaders who live in Barrington and/or graduated from its schools.

[kcmoney]

Barrington all the way. Naperville has been the "trendy" suburb to move to and you will notice this taking a drive from 111th to I88 on Route 59. Should take you a good 30-40 minutes stopping at every light along the way. Barrington has great schools and is a lot less of a clusterf*** than Naperville. My $0.02.