Sycamore/rochelle... what should i know about them? (rental, insurance)

[cityrover]

Originally Posted by BRU67

Sounds about right. So from that split area to downtown proper is going to be about an hour to an hour and fifteen during rush hour. Add that onto the hour from Sycamore it'll take you to get to that point plus the commute back home and my guess is you'll be completely bat**** crazy in about 2 months should, God forbid, you ever have to take a job in the Loop to support yourself. But you have to do what you feel you have to do.

Living in Chicago and working there is not on the agenda. Im bailing back to FL when im done with this contract

I need something for the next ~28 months

[chet everett]

You looking for something really inexpensive or what?

Here is a really interesting opportunity that I personally looked at in Sugar Grove recently -- 205 S Main St, SUGAR GROVE, IL 60554 | MLS# 08513474 | Redfin If you put around $10k into it it would be a heck of a nice home and you could easily make money on it,

You want move-in ready?

Here is a place in Montgomery -- 1814 MULBERRY Dr, MONTGOMERY, IL 60538 | MLS# 08554704 | Redfin A whole lot more sane for commute to Naperville!

Here is a real steal in quiet and safe North Aurora -- 211 W Arrowhead St, NORTH AURORA, IL 60542 | MLS# 08574652 | Redfin Very large fenced yard, almost has a "out in the country" feel to it...

Very similar deal in St. Charles -- 1657 S TYLER Rd, ST. CHARLES, IL 60174 | MLS# 08522702 | Redfin

Heck even Elburn is a whole lot more sensible for a commuter -- 111 E Nebraska St, ELBURN, IL 60119 | MLS# 08574153 | Redfin This place has been fixed up and is a terrific value.


If you think you'll only be in the property for 28 months you need a strategy to sell after improvements or find tenants and a place that is way out beyond the "employment zone" is gonna be real hard to either sell or rent out...

[cubssoxfan]

Originally Posted by cityrover

I never understood why people live in a place they are not happy. That's not me.

I never stay and generally have never lived in a place I'm not happy. BUT, since I'm not a multi-millionaire, I have to make compromises about where I live. One thing I will not tolerate is having to deal with stupid-long commutes. Did it for a year and it wears on you quickly! So I happily tolerate having a bit more suburban/urban around instead of suburban/rural. I think what Chet suggests in digging deeper in areas closer to work is sound advice.

That being said, I guess there are those who are not bothered as much spending 2+ hours a day commuting. No animosity towards that, to each their own. But I have heard many stories of people who rationalize a long commute end then come to really regret it; that's what I'm pointing out. Nothing more.

[cityrover]

Originally Posted by chet everett

You looking for something really inexpensive or what?

Here is a really interesting opportunity that I personally looked at in Sugar Grove recently -- 205 S Main St, SUGAR GROVE, IL 60554 | MLS# 08513474 | Redfin If you put around $10k into it it would be a heck of a nice home and you could easily make money on it,

You want move-in ready?

Here is a place in Montgomery -- 1814 MULBERRY Dr, MONTGOMERY, IL 60538 | MLS# 08554704 | Redfin A whole lot more sane for commute to Naperville!

Here is a real steal in quiet and safe North Aurora -- 211 W Arrowhead St, NORTH AURORA, IL 60542 | MLS# 08574652 | Redfin Very large fenced yard, almost has a "out in the country" feel to it...

Very similar deal in St. Charles -- 1657 S TYLER Rd, ST. CHARLES, IL 60174 | MLS# 08522702 | Redfin

Heck even Elburn is a whole lot more sensible for a commuter -- 111 E Nebraska St, ELBURN, IL 60119 | MLS# 08574153 | Redfin This place has been fixed up and is a terrific value.


If you think you'll only be in the property for 28 months you need a strategy to sell after improvements or find tenants and a place that is way out beyond the "employment zone" is gonna be real hard to either sell or rent out...

awesome post. Yes something like the Montgomery property would be perfect.

didn't even know about Elburn. now I do!

[mattywo85]

Originally Posted by cityrover

awesome post. Yes something like the Montgomery property would be perfect.

didn't even know about Elburn. now I do!

I can set you up with a realtor, makes things easier. Hit me back.

[supportyourschools]

The place in Sugar Grove...yikes!

The place in Montgomery...little subdivision with houses all crammed together, right next to some sketchy townhouse/duplex-type homes and apartments. Kind of far from 88 and will take a while during rush hour. On the plus side, if you like Wal-Mart, then you could walk there from this house.

The place in North Aurora...looks convenient to 88, but it's not. You'd have to access 88 by backtracking to route 31 or taking Butterfield to Farnsworth. Higher taxes too.

The place in St. Charles...another yikes. Plus I wouldn't waste money on St. Charles property taxes if you're not worried about the schools.

The place in Elburn...looks good. I don't know much about Elburn other than driving through on the way to Lake Geneva. It looks like a nice, quaint little town.

My suggestion is if you're not concerned about schools, then you should look in areas on the east side of Aurora that feed into East Aurora District 131. For even lower taxes, look into the unincorporated areas of Aurora (Aurora Township). Most of the Aurora Township areas have bigger lots and a more rural feel that might suit you.

[chet everett]

With a time window under three years and desire to have large yard the places suggested should be relatively low risk...

East Aurora is highly unlikely to see any real improvement in the same time frame.

[cityrover]

mattywo85 ill be in touch if needed, thanks.

yep that's why im looking at rural. there is no way I can get good neighbors unless I up the budget 2x at least, which I wont do because if the property sale hangs down the road, im not going broke giving it away/paying 2k a month for something im not using. been there done that. lessons learned.

I found some great places but they really are remote, even by my standards. I still need to ensure there is excellent internet available (wife works from home and what not, we consume massive amounts of data; business class levels) so it cannot be a farm in a field.

Noticed there is a lot more variety south, like Joliet and to the east of that. but im not even going there, looking west. really want to be between i90 and i88 in that rectangle. Or even a hair north of that also works.

How much more active does the market become in may? Winter is never a good time and this year winter still hasn't gone it seems.

[yousah]

Your $150K budget makes it tough to get what you want, especially for detached housing. If you find something, it will likely be older and need repairs. I'm guessing, based on your budget, that there wouldn't be much money available for repairs.

The house on Mulberry that was mentioned is in an area with an adverse flood plain and also located near a sketchy apartment complex.

The one in Sugar Grove will have lead based paint, and also likely have asbestos flooring. The mitigation costs alone will sink your budget.

Have you considered what your commuting costs will be to Naperville from Sycamore? If it's near $15 per day (fuel/maintenance) then that's about $300 per month in expenses that could be put towards housing costs if you found a location closer by your work. That $300 could buy another $60K worth of house if not spent on commuting costs.

Also, for a 28 month period, you might be better off renting. The acquisition costs of a new house along with eventual selling costs might not be offset by appreciation in that short amount of time.

[pvande55]

If you move to Rochelle, be sure to check this out during your period of residence, at least if you like trains.Rochelle Railroad Park