Naperville - Buying house - Suggestions (Chicago, Wheaton: lender, townhouses, safe area)

[nitrous-nit]

I am new to this country, and we are looking to buy our first home, preferably in Naperville.

I work in Downer's Grove and my wife works in Addison.

We are currently living in Glendale Heights, and looking to move out.

I like the Naperville area, and would like some opinions.

We would like to start a family next year, at the moment, we have no kids.

We would like to live in an area where it is both convenient for both of us, to get to work, and an area that has good schools.

Naperville comes to mind, but we are open to other suburbs.

With our budget in Naperville, we were looking at a townhouse and had a few questions:

1) Closing costs - What are roughly the costs for a home costing around $200K?
2) Do sellers assist with closing costs?
3) We will have a deposit of around 5%, so we would like to go conventional, is that a good idea, or should be choose FHA?
4) How is the Naperville area, in regards to schools and property prices? Is it a nice,safe area?
5) I understand with our price range, we fall into the "Townhouse" category, are they a good investment?

We would definitely like to start small, like a 2 bedroom/2bath home, and live in it for a while, until our family out grows it.

Please suggest.

Thanks

[almost3am]

Originally Posted by nitrous-nit

I am new to this country, and we are looking to buy our first home, preferably in Naperville.

I work in Downer's Grove and my wife works in Addison.

We are currently living in Glendale Heights, and looking to move out.

I like the Naperville area, and would like some opinions.

We would like to start a family next year, at the moment, we have no kids.

We would like to live in an area where it is both convenient for both of us, to get to work, and an area that has good schools.

Naperville comes to mind, but we are open to other suburbs.

With our budget in Naperville, we were looking at a townhouse and had a few questions:

1) Closing costs - What are roughly the costs for a home costing around $200K?
2) Do sellers assist with closing costs?
3) We will have a deposit of around 5%, so we would like to go conventional, is that a good idea, or should be choose FHA?
4) How is the Naperville area, in regards to schools and property prices? Is it a nice,safe area?
5) I understand with our price range, we fall into the "Townhouse" category, are they a good investment?

We would definitely like to start small, like a 2 bedroom/2bath home, and live in it for a while, until our family out grows it.

Please suggest.

Thanks

For question 1-3, I would call a lender or an agent, or go to an open house and have a conversation with an agent there.

Naperville schools are pretty much all good, I wouldn't be worried about sending my kids to any. Some are better than others in both 203 and 204, some people prefer 203, but I am in 204 and feel really good about the schools my kids are at and where they will go next.

Townhouses can always be a mixed bag, but everything seems to be increasing right now. There are some new townhouses just behind the Whole Foods shopping area (Rt 59 & 75th St), they look really nice and would be walkable to some shopping and restaurants. That's about all I know about townhomes.

[4122]

Naperville is a very nice suburbs with excellent schools which is why it's expensive. Downers Grove is also very nice and it's cheaper than Naperville. It's a better commute to Addison than Naperville. Downers Grove has excellent schools also. Try to be in the North high school because it's better than South high school.

[Lookout Kid]

I'm not knocking Naperville, but I think that the location isn't ideal for the commute to Addison. Places like Elmhurst, Glen Ellyn, and Wheaton would be more centrally located. Or you could look at Downers Grove itself, as the poster above pointed out. All four options would be better from a commuting standpoint, and all are safe with good schools.

[nitrous-nit]

Thanks for the posts guys.

I also forgot to mention, most of the suburbs like Elmhurst, Glen Ellyn, Wheaton and Downer's Grove, have really old houses.

We are looking to buy a house that is atleast 10-15 yrs old or upto year 1990 onwards max, so that sort of also restricts our search.

Opinions?

[4122]

Oak Brook has mostly newer homes. It's still cheaper than Naperville, but it's more expensive than Downers Grove, Glen Ellyn, and Elmhurst. The Oak Brook elementary and middle school district is the best in the Chicago area. The schools are Brook Forest Elementary and Butler jr high. Then, after Butler, they go to Hinsdale Central which is one of the top 10 high schools in the state. Parts of Oak brook go to Hinsdale elementary and middle schools. Some go to Downers Grove schools and then go to Downers Grove North. Some go to Elmhurst schools, Villa Park schools, and possibly Westmont schools which are still good but not as good as DG, OB, or Hinsdale.

[holl1ngsworth]

Naperville is not more expensive than Oak Brook. In fact, if comparing 4-bed single family home prices, Naperville is on average more affordable than Downers Grove, Glen Ellyn, Wheaton and Elmhurst.

[holl1ngsworth]

Originally Posted by nitrous-nit

Thanks for the posts guys.

I also forgot to mention, most of the suburbs like Elmhurst, Glen Ellyn, Wheaton and Downer's Grove, have really old houses.

We are looking to buy a house that is atleast 10-15 yrs old or upto year 1990 onwards max, so that sort of also restricts our search.

Opinions?

Elmhurst, Wheaton, Glen Ellyn, Downers Grove and Naperville have roughly the same housing mix. Plenty of newer homes in each. Wheaton has several nice townhome developments along President and Blanchard, south of Lowden and north of 22nd. That nook of Wheaton is actually served by Glen Ellyn CCSD 89 and Glenbard South, both of which are very reputable. Only trouble will be the budget...

CCSD 89 | District Snapshot

GLENBARD SOUTH HIGH SCHOOL | School Snapshot

[Lud Kissel]

Originally Posted by holl1ngsworth

Elmhurst, Wheaton, Glen Ellyn, Downers Grove and Naperville have roughly the same housing mix. Plenty of newer homes in each. Wheaton has several nice townhome developments along President and Blanchard, south of Lowden and north of 22nd. That nook of Wheaton is actually served by Glen Ellyn CCSD 89 and Glenbard South, both of which are very reputable. Only trouble will be the budget...

CCSD 89 | District Snapshot

GLENBARD SOUTH HIGH SCHOOL | School Snapshot

I would not call that a nice part of Wheaton, not "bad" but...

[holl1ngsworth]

Originally Posted by Lud Kissel

I would not call that a nice part of Wheaton, not "bad" but...

True. But with $200k to spend, it'd be hard to do better. Another place to look would be the portion of southern Glendale Heights that feeds into Glen Ellyn SD 41 and Glenbard West. IMO those schools are more desirable, but I personally don't like the overall feel of the area as much as the south Wheaton/Glen Ellyn CCSD 89 area at Blanchard and 22nd.