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Old 01-28-2012, 05:20 PM
 
Location: D.C.
1,819 posts, read 1,553,991 times
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In terms of housing options, I would strongly recommend renting first before buying. I know that's a real pain to do when you have little kids, but you are moving into one of the worst housing markets in the nation, and into a state that has recorded the highest job losses for 2011, up from 9% to 9.8% in 12 months. Illinois has a long way to go before home values begin to settle on a wider platform. I say this with experience there. We moved there in early 2009. We found a house that was for sale, and offered to rent it instead. They accepted the offer (basically paid their mortgage). Now, some might say that we were foolish to waste the money on someone else's mortgage. And normally I would agree. However, by the time we left Illinois (this past October), the house's value and dropped from $700k to maybe $500k if they're lucky. This was in a suburb of significant wealth and curb appeal as well. Illinois has the highest foreclosure rate in the nation. So for someone coming in "cold" to the area, I think you should tread lightly before putting a financial footing in the ground.

We know the struggles of doing this with little ones in the home though. Our son was 9 months old when we moved there, and had a daughter while we were there in Nov of 2010. It's tough, and my heart goes to you. You're lucky though with the return to a family support network closer by. For us, it was the exact opposite, we had to leave our support system when we move to Illinois. But now with hindsight being 20/20, I would be sick to my stomach if we had bought that house in 2009. It sounds like you've got your hands full with your existing house. Make sure you're not doubling-down with a purchase in Illinois too.... Lots of houses for sale, that sellers would be happy to rent instead if the renters are mature, stable, and don't pose a threat to the condition of their home. Many folks would be happy to wait to sell via renting until this blows over some more... Good luck!

PS: we were in Glen Ellyn. I will warn you though, our social experience in Glen Ellyn was horrible. A very "cliquish" town and certainly not a very open and warm community, was our experience. I would suggest Wheaton over GE..
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Old 01-28-2012, 08:32 PM
 
1,372 posts, read 424,608 times
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Smile Lombard is a pleasant suburb ....

Lombard is a pleasant suburb right along a Metra Line, just east of Glen Elyn and Wheaton, and a little bit less expensive. It has nice big parks and a great library. The property taxes, I have heard, are a bit less than some neighboring towns because there is a large shopping center, many restaurants, and office buildings on the southern edge of the town, which generate tax $$. But residential Lombard itself, closer to the tracks, has some lovely neighborhoods, as well as the famed "Prairie Paths" which are former railroads converted to nature trails and used by joggers, etc..

Brookfield, is also a great town for commuters. There are lots of cute homes near the Hollywood station. And when you do get here, be sure to take the kids to the zoo!

Good luck!
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