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Old 03-26-2011, 12:08 AM
 
47 posts, read 121,030 times
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Hi-

Hubby's got a few irons in the fire and is getting interest from a company in Schaumburg. Scouting areas and could use some help narrowing things down before I really get into looking. Any help would be greatly appreciated! :-)

looking for approx 30 min commute (or less)
approx 250k or slightly above
large lots or small acreage if possible
schools not important but taxes might be

Might be hard to get everything but hoping to narrow all the choices!
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Old 03-26-2011, 02:06 AM
 
Location: Chicago
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Schaumburg itlsef might be a place to look!
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Old 03-26-2011, 03:23 AM
 
Location: Schaumburg
755 posts, read 2,965,707 times
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Schaumburg (great library and park district)
North of Schaumburg: Barrington, Lake Zurich, parts of Hoffman Estates
East: Elk Grove Village (west of Route 53), Mount Prospect, Arlington Heights

I cant' think of any towns I'd recommend west of here within 30 minute drive --Streamwood is bordering here and has some gorgeous homes at a steal, but the school system (dist 46) is so horrible, that the property values have plummeted. It's much easier to sell if the school system is better.

You also have to narrow down what you want in a town.
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Old 03-26-2011, 08:26 AM
 
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Large lot or "acreage" (even small) for $250k within 30 minutes of Schaumburg is almost certain to have some glaring and unremediable problems. Schaumburg itself is pretty uniformly suburban. Traffic to even nearby areas that may be a bit more rural can be quite heavy. If a more country feel is important the trade-offs and budget are going to be big factors.

When it comes to taxes the desire for a large lot is really going to work against you too. Short of finding something that is sandwiched between a frontage road and an expressway pretty much any assessor will value large lots as "luxury".

As others have hinted, in areas with poorly rated schools the tax rated tend to be higher. You can expect taxes on a $250k home in a desirable area to be LOWER than those in are where the schools are a mess. Plan on about $5000 a year as a baseline -- areas with high average real estste values and low tax rates may save you a bit (still budget for at least $3500/year at $250k) while those with crummy schools and high rates might close in on $6500.

Offsetting our high taxes for real estate our income tax rates on individuals are flat and low...
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Old 03-26-2011, 08:43 AM
 
47 posts, read 121,030 times
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Thanks for the info - it's helpful. The tax situation is much different in IL than where we're at now and I suspected a little of what you all told me. I really don't want to be in a suburban tract nor in the middle of a town even if it's really very cute and desireable.

We homeschool so schools aren't really important but if it affects resale and tax valuation then I guess it's important. :-)

I was hoping to be able to do some small-scale farming and small animals which I'm afraid we'd run into problems w HOA in a development w larger lots.

Lots to think about - thanks for the insight!
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Old 03-26-2011, 08:49 AM
 
Location: Barrington, IL area
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Definitely look in Schaumburg and parts of Hoffman Estates.
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Old 03-26-2011, 11:19 AM
 
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A point on taxes. They are lower in Cook County. Schaumburg lies in that 10 mile wide strip of that county that stretches west of O'Hare. Go outside that and you are in Lake or DuPage, with much higher taxes.
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Old 03-26-2011, 01:45 PM
 
Location: Lake Arlington Heights, IL
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If schools aren't important, check out Algonquin. More home for the $, but higher taxes may negate that.
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Old 03-26-2011, 03:08 PM
 
47 posts, read 121,030 times
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Thanks all - been checking out Realtor.com with the infor you've all posted.

I do have an edit now though.

Hubby says actual plant is in Des Plains, I looked at Google and it seems that can change things - I imagine traffic is going to much more of an issue?

I may have to start a new thread regarding Des Plains, but thanks for all your help!
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Old 03-26-2011, 03:16 PM
 
Location: Chicago
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Quote:
Originally Posted by quiz1 View Post
I may have to start a new thread regarding Des Plains, but thanks for all your help!
Do a search of the forum. Des Plaines has been covered before.
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