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Old 01-07-2012, 01:50 PM
 
375 posts, read 848,315 times
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Quote:
Originally Posted by ToriaT View Post
Personally I would take a pass on those 3 suburbs. Here is a condo listing in wheaton that is not far from your price range. the unit is older but has three bedrooms and looks to be in good condition. this is right down the street from where I live. good area great schools no crime, great restaurants and shopping good transportation great parks and pools greenspace all around for the kids. i would rather live in a cheaper abode in a better suburb with a good school district with no gang or crime problems than get something bigger in an iffy area.

1479 S COUNTY FARM RD, UNIT 2-3, WHEATON IL 60189 - Wheaton Real Estate
This is great advice. You are not going to be building equity if no one wants to buy in the town or place you are living. And although you may or may not care about schools because you believe you can effectively homeschool, the person or family who wants to buy your place may care about schools. Put another way, a good school system, through high school, will help you sell your place.
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Old 01-07-2012, 04:49 PM
 
3,786 posts, read 5,540,925 times
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and another point. you are not going to get much for 100k. Houses at this price point are mostly in really bad areas or very small and in derelict condition. You will be able to find condos and some townhomes at this price but its really hard to find three bedrooms and 2 bathrooms in a good area for a hundred thousand. there is a bahai community in the area, there are yoga classes and studios and a whole foods market in town.
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Old 01-07-2012, 05:01 PM
 
Location: Arizona
3,647 posts, read 5,311,525 times
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Quote:
Originally Posted by ToriaT View Post
and another point. you are not going to get much for 100k. Houses at this price point are mostly in really bad areas or very small and in derelict condition. You will be able to find condos and some townhomes at this price but its really hard to find three bedrooms and 2 bathrooms in a good area for a hundred thousand.
I have to disagree. I work in real estate and see really good deals for under 100k on houses, townhomes, and condos in good areas all the time. Some are regular sale, some are short sale or foreclosure. If you want to stay around Bolingbrook also check out nearby Woodridge, Naperville, Plainfield, Lemont, Darien, and even Joliet and Shorewood. If you are looking more near Tinley Park also look at Orland Park. If you are looking more at Aurora area maybe even check out Sugar Grove, Yorkville, Oswego, and Plano.
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Old 01-07-2012, 08:55 PM
 
3,786 posts, read 5,540,925 times
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okay good. I look too and I see very few houses at under 100 k that are desirable (condos and townhouses yes). Most of the ones at that price point have only 2 bedrooms. sometimes its hard to get a foreclosure or short sale. sometimes you have to put up cash. also a lot of the areas you are mentioning are way far out and just my opinion but i would not want to live there. I prefer living closer in proximity to the city with train lines and roads. I do not want to commute from sugar grove to downtown. too far. yes the houses are cheaper. remember what i say on this board is my opinion reflecting what I would like or what I would do.

Last edited by ToriaT; 01-07-2012 at 09:05 PM..
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Old 01-08-2012, 11:29 AM
 
65 posts, read 115,233 times
Reputation: 52
Quote:
Originally Posted by ToriaT View Post
Personally I would take a pass on those 3 suburbs. Here is a condo listing in wheaton that is not far from your price range. the unit is older but has three bedrooms and looks to be in good condition. this is right down the street from where I live. good area great schools no crime, great restaurants and shopping good transportation great parks and pools greenspace all around for the kids. i would rather live in a cheaper abode in a better suburb with a good school district with no gang or crime problems than get something bigger in an iffy area.

1479 S COUNTY FARM RD, UNIT 2-3, WHEATON IL 60189 - Wheaton Real Estate
130,000 is more than a little out of my price range... Depending on my husband's bonus I may be able to go as high as 125 but that is the absolute maximum we could go with my husband's absolute maximum bonus, and there is no guarantee he'll get that much.

One person's "iffy" Or "undesirable" or "too far out" is another person's "I'm so glad to own a home.".

Last edited by xmasevemom; 01-08-2012 at 11:54 AM..
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Old 01-08-2012, 11:50 AM
 
65 posts, read 115,233 times
Reputation: 52
I appreciate the efforts to talk me out of a less expensive home, but your arguments are not arguments that are new to me and this isn't really the conversation I am here to have. I am much more interested in hearing information about different areas from people who live there so I can get a feel for different areas prior to our first visit.

I am just going to make a few more points in case people genuinely do not understand my POV, and then I am finished arguing about my values for now.

There seems to be some confusion about what building equity means, as I can see by the comment that we are "not building equity if no one wants to buy" or whatever it was. Equity does not mean "increase in home value." It means share of ownership. When you pay rent, no matter how much you pay, your net worth does not increase a single dollar. If you live in a house and make payments long enough, you have 100% equity in that home regardless of its value. The house belongs to you and you are no longer in debt to the bank. Even if your house is worth only half what you paid for it, you still get money when you sell it, because you are not using any of the proceeds to pay the bank. Moving out of an apartment, you get zero money, regardless of how desirable the area is. Moving out of a house you are still hugely in debt on, you also may get zero money on it if the market didn't go the way you hoped.

We are keeping our target price low so that we can make a 20% down payment and then get a 15 year mortgage (to whittle down that debt ASAP). When you do not owe the bank a huge amount of money there is not such a panic about your home selling price.

Last edited by xmasevemom; 01-08-2012 at 12:25 PM..
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Old 01-08-2012, 11:53 AM
 
65 posts, read 115,233 times
Reputation: 52
Quote:
Originally Posted by mattywo85 View Post
I have to disagree. I work in real estate and see really good deals for under 100k on houses, townhomes, and condos in good areas all the time. Some are regular sale, some are short sale or foreclosure. If you want to stay around Bolingbrook also check out nearby Woodridge, Naperville, Plainfield, Lemont, Darien, and even Joliet and Shorewood. If you are looking more near Tinley Park also look at Orland Park. If you are looking more at Aurora area maybe even check out Sugar Grove, Yorkville, Oswego, and Plano.
Thank you! I will add these to the list. <3
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Old 01-08-2012, 12:01 PM
 
3,786 posts, read 5,540,925 times
Reputation: 2084
If something is listed at 129 k you will not pay this price. People are eager to sell and and make a deal. we are not trying to talk you into something more expensive only that realistically in the chicago area 100 k will not go far for a family home. also to steer you away from bad areas of crime and gangs, etc.
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Old 01-08-2012, 12:09 PM
 
65 posts, read 115,233 times
Reputation: 52
Quote:
Originally Posted by ToriaT View Post
If something is listed at 129 k you will not pay this price. People are eager to sell and and make a deal. we are not trying to talk you into something more expensive only that realistically in the chicago area 100 k will not go far for a family home. also to steer you away from bad areas of crime and gangs, etc.
"Crime and gangs" is not an on/off setting. Every area has some amount of crime. One has to look deeper and see what types of crimes are most often committed, and to whom, and in what areas of town. Living in l.a. I am used to some amount of gang activity and it has never affected my or my daughter's life.

But you do raise a good point; there is no reason I can't make a lower offer on something I like! The worst they can say is "get lost, cheapskate.".
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