Family friendly suburb near Naperville/Oak Brook (Chicago, Downers Grove: for sale, to rent)

[nouni7]

Hi. My husband is considering a job in Naperville and would also have to commute weekly to Oak Brook or Downtown Chicago. Schools are very important to us as we have young children. We are looking for about 4 bedroom houses with a decent yard (at least 0.25 acres) Where would you live? We are looking in the mid 300's.
We have looked (online) at Naperville but the houses within our price range seem very outdated... Are houses there really a lot more expensive (than 300's), or is that just normal there (as it is an older community)?
Where would you live? -which area/subdivision in Naperville or which city close by- thank you all in advance for any input

[sgresident]

my husband works in naperville. and we lived there when we first got married. when we decided to buy a house, we looked further west because we wanted a bigger yard and house for our money. we weren't so concerned with commute. we looked in a 30 minute radius from his job. We moved out to sugar grove and have loved it. Your post says family-friendly and sugar grove definitely is. there are a wide range of homes for sale and you can get a lot for 300,000. It just depends on what you are looking for.

[TempesT68]

That's going to be fairy tough on that budget, but you could pull it off in areas of naperville on the far south side, north wheaton, and parts of elmhurst.

[Chicago0304]

I work in Naperville and live in Oswego.. My neighborhood (Churchill Club) has a great community pool and clubhouse and is still building starting at 200,000. It only takes me 10 minutes to get to work, I drive straight up the street called "Wolfs Crossing"..

[chet everett]

I have lived in eastern DuPage Co most of my life and it offers some excellent communities for families with school aged kids. The reality is that in many towns $300k is basically the price of a build able lot, and even that price is down from a peak that may have been double or more at peak...

That said, there are options. The best options include finding an older home that needs some updating OR a seller that is distressed due to the effects of mortgage crisis. In a solid neighborhood every dollar that put toward modernization will have much greater return than average. Similarly purchasing from a rare distressed seller in an otherwise first-rate town / subdivision is far more financial savvy than going into an area with less of a track record...

Realistically the need for access to downtown would suggest anyone the towns along the BNSF might be ideal, though the tend to also be among the pricier optionsmin DuPage Co. . Similarly desirable towns exist along the UP West line, which stretches past Geneva...

I would caution against shopping solely on price, as towns with the highest rated schools, best value for taxes, longest record for stable housing prices tend to be far more expensive on average, but less risky. Additionally prices tend to run in concentric circles with distance from desired amenities being one big factor as to where the bullseye of peak prices still rule -- thus being just a bit further can reap big savings. The flip side is that with more people being able to consider stepping up to towns that have better schools / amenities competition for the most desirable / unique homes is not uncommon ( though not as frothy as things were when easy money was thee rule...).

Give some serious thought to how likely you are to NEED to sell again in less than five years, if that probability is high it may very well be smarter to rent a house. The downsides thus rest with the landlord...

Good Luck!

[JustJulia]

I would look in Lisle or Downers Grove; those are between Naperville and Oak Brook.

[chet everett]

Originally Posted by JustJulia

I would look in Lisle or Downers Grove; those are between Naperville and Oak Brook.

Portions of Lisle are served by Naperville 203 schools, prices are mostly inline with those of similar homes in Naperville itself.

Portions of Lisle served by Lisle Unit District 202 tend to be a bit less, but still no bargain except in cases where the home / neighborhood is considerably less than up to date. Lisle is also home to one of the largest and most well respected private high schools in DuPage Co, a fact that I think is significant.

Similarly Downers Grove covers one of the larger land areas so there are LOTS of neighborhoods where home prices are far higher than the OP's target, and only a handful where any affordable homes can be found. DG shares with Lisle the distinction of being home to one of the region's most well known private elementary schools...

My advice to those coming to the Chicago region is to "aim high"and seek out the most affordable home in the least affordable suburb as that almost certainly guarantees the best value for both long term and flexibility should further unexpected relocation be needed. If renting is a more affordable path I think that makes sense for many people...