Clarendon Hills vs. Downers Grove (Oak Park, Elmhurst: sales, apartment, HOA fees)

[BriGuy23]

Hi,

My wife and I are first time homebuyers and are very close to extending an offer on one of two townhomes. One is in Clarendon Hills and the other is in Downers Grove. I seem to like the Clarendon Hills property better due to the fact that I am close to both the CH Metra and the Westmont Metra. In fact, I think the Westmont station would be closer.

My wife and I like CH due to the community. Safe, good schools, very nice looking (albeit small) downtown area and vacinity (close to Oakbrook and major highways/expressways.

It seems like the cost of living in DG would be a little less. Also, it seems like that Downers would have more people around our age (late 20's). CH seems like more of an older and more established community (not really a bad thing but has to be concidered). Also, I have heard of some issues with Metra parking in DG.

Does anyone have any opinions on the above? In regards to the parking and the communities in general? I asked about CH before and Chet had some great advice but just looking for some more input before taking the plunge!


Thanks

[chet everett]

Townhouse shopping is a bit tricky in either area. As you noted the proximity to the Metra is a big draw for some, but as many older folks retire that may not hold as much appeal.

I do agree that you will probably have more people in DG, but that may be driven by affordability more than anything else.

I'd analyze the most recent sales as best I could and also check out the reserve funds and HOA of each development very thoroughly.

Long term it would be nicer to get in to CH and then move up to a SF home but you have to be sure that the financials make sense now so that you don't end up over spending and get stuck when you want to sell. As far as timeline I would be extra careful to make sure that you don't want to upgrade for at least 5 years or so.

Frankly that might be easier to do buying an older SF home than a townhouse -- I know of a few that compare VERY favorably price wise...

[TennisDD]

Downers Grove(IMO) is a community that I believe is more "hometown." Again, my own opinion, but CH just keeps the phrase "Keeping up with the Joneses" in my head. I know too many people who did the tear down thing who live in CH and always have to mention they live next to Hinsdale. It just reminds me of an ENVY burb to Hinsdale and I personally think the whole tear down thing is ugly. But there are those that probably like that thing.

[chet everett]

Plenty of teardown in DG too, the top of the market in both towns is sky high.

The OP is talking about a townhouse in either town. The range for townhouses in either town is very close, from older smaller places in the $200K range to stuff that tops out around $500K.

If I was looking for a decent return in about 5 years I would recommend strongly an older single family detached home in that price range. Yes, there is additional maintenance, which can be done cost effectively with lawn services and other contractors, offset by lack of HOA fees. There is far more upside potential for SFH in that price range, either a fixer-upper OR even a home that is all done up, as they are NOT building more of them and the DEMAND to "get into" desirable towns is NOT going to diminish.

Money will probably go a bit farther in DG for existing SFH, but the relatively TINY pool of inventory in CH, especially the desirable core that shares elementary district 181 with Hinsdale, ensures that downside is minimized...

btw I've argued with others before about the aesthetics of tear downs and with RARE exception the view is that MOST are a dramatic improvement over what existed before. This is especially true in CH and DG, as these areas lost far fewer "older" homes to tear downs. The really nice homes with historic character were never built to the same number / extent as they were in more "carriage trade" type towns... In the interest of full disclosure I am talking about where I live and I pretty much always describe to people unfamilar with the area as ADJACENT to Westmont / a bit further down Rt 83 from Oakbrook Center Mall...

[ChangedEssence]

You mentioned schools. So you either have or are considering children. Go for Clarendon Hills if I am correct on the kid situation. Downers is alright but fading on quality and substance for the children. Just my opinion, Have a few friends in Downers with small children would pay anything to go to CH. No Doubt. If you can afford it. Go for it. But if you can't Downers is still great just CH is a bit better.

[BriGuy23]

I definitly realize that a single family home is a better in the long run but as our first place we really feel more comfortable in a townhome. We do not have children right now (2-3 years possibly) but do realize that quality of schools are important. The place in CH that we are looking at is in the Hinsdale district which bodes well for us regadless of if we stick around for a while or not.

Also, we are at the lower end of the market for a TH (230-250) and really like this one palce we found in CH more then anything in Elmhurst, Darien, Westmont.....etc. I really have not seen any single family homes that are as nice.

We are in Oak Park right now and realize there will be a significant lifestyle change but we are definitly looking forward to it!

[chet everett]

At the price point you are considering there is little chance of getting other than a 2bd unit. Be carefully that you do not buy something that you will out grow too soon.

Good Luck!

[deechee]

Personally, I'd go with Downer's Grove.

[chet everett]

If the property they have found offers MORE FOR THE MONEY I would go with that. If the town offers the bonus of better schools than it is a no brainer...

[BriGuy23]

I think we should be pretty good for at least 5-6 years.

The mid-term plan is to start out in this two bedroom and then upgrade when the time is right.

Currently we are in Oak Park in a one bedroom apartment that has no air and not even a dishwasher! This 2 bedroom/2 floor is definitly an improvement and both me and the misses both agree on it (which doesn't usually happen!)

We are going to use the sencond bedroom for an office/computer room for the time being and can convert it to a nursery when the time comes. Also, I can sleep there if I get in trouble :-)

Really the thing that we are most excited about is the pride of home ownership in a community that we both really like. Not much work needs to be done with the place (really none at all) but we are still looking forward to putting our own touches on it! It will definitly be a learning experience having to replace wallpaper and doing other things like that.

Sounds like we picked a nice community and I appreciate the comments!