For you vetravetranns of Chicago, do you think it is better to rent in a great area or buy in an up and coming area? (Lincoln: home, neighborhood)

[sphere99]

For what I am looking to pay I can either rent in Lakeview etc, or buy a nice place in Logan/Avondale. I would like to look long term so I am heading towards the purchase, but what does everyone else thing?

(lol sorry I meant Veterans)

[chet everett]

Totally different goals, aren't they?

Renting is what you do when you ONLY need a place to live.

Buying is part of different strategy that implies you are not going to move for quite some time (right now I think 7 years would be the minimum window I would encourage...) have ADEQUATE reserves to IMPROVE AND MAINTAIN your home and YOUR LIFESTYLE should you suffer some setbacks, plan to be ACTIVE in stabilizing / seeing that your investment moves in the right direction as far as crime, politics, schools, business et cetera...

Without knowing "where you are at in your life" renting vs buying is too broad a question. And in the HUGE differences in likely lifestyle between Lakeview and LogonSq/Avondale and this is an impossible question.

[Chi-town Native]

well, I grew up in LV, and I bought in Avondale. Make of that what you will...!

[Chi-town Native]

Originally Posted by chet everett

And in the HUGE differences in likely lifestyle between Lakeview and LogonSq/Avondale and this is an impossible question.

A good point, but it isn't impossible, just requires some self-assessment - I found that as I got older, having proximity to numerous bars and clubs wasn't as important as not getting stuck in gridlock traffic every evening and weekend.

I didn't move out of LV out of necessity, I honestly prefer the benefits that Avondale offers.

[Los Guys]

I live in Avondale, and used to live in Lincoln Park. Personally, I prefer the racial diversity and the more urban feel here. I think the point brought up earlier by chet everett is key - what point are you at in your life? I couldn't see living in Avondale when I was single, but now I'm married and have a kid, I think it's great. Perhaps in a few years, when the little tike is ready for school, I'll want to move to an area with a better school district. If you can expand on what's going into your decision, we can offer some more focused advice.

[Chi-town Native]

I would frankly admit that Avondale Elementary is not known for its academic excellence. That can be a major drawback for some, but as a kid who grew up near a school just like it, I know that there are plenty of alternatives, although it does take a little more effort to apply to magnets, or to go the private school route.

So, it's a question of trade-offs, really. I was in Lincoln Park yesterday, and not even a fantastic local school would ever get me to move there. The congestion is nauseating, due to the "traffic IQ" of the current residents hovering just above ZERO.

[sphere99]

I am not a bar-hopper, do have a son but he is in a magnet school in Bucktown, so school is not an issue. I posted another post about west logan sq, just do not want to end up in the wrong area. We are renting now but really want to buy, but not a lot of budget to work with.

[surlycue]

I have a few friends that were priced out of Logan Sqaure and moved to east Avondale. They are white and mexican respectively and both couples are very happy there. It's a quieter, slightly more family oriented neighborhood compared to the eastern part of Logan Square. There are less fresh out of college 20-somethings and more "locals". It is not without its' own problems but like I mentioned in the previous post, the closer you are to the Belmont stop the better the neighborhood. There are also a good deal of quiet, friendly and well kept blocks further west but I think the further out you get, the more block by block it becomes.

[coldwine]

When buying, just buy safe. You're guaranteed to have an investment that will pay itself off.

Buy in an "up and coming" later.

When I was looking to buy a real home, I saw properties on the Southside that were so beautifl they made me weep. At the end of the day, it's still unlikely thay the neighborhood will develop.

[chet everett]

Location location location.