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Old 02-20-2016, 09:04 PM
 
78 posts, read 70,620 times
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We are relocating to Wheaton and need help finding a home. We are working with an agent and get all the listings but we need help deciding on subdivisions. We prefer the southern part of Wheaton because of my husbands commute. We are looking for a 4-5 bedroom home at least 3,000 sq ft with a good sized yard and a nice "flow". We have 3 children in elementary school. We can afford up to 750k but would prefer to stay under budget. Ideally, we would find a solid but dated/poorly staged grandma house in a very desirable neighborhood. Besides schools, price & space we are also very concerned about resale as my husband may be transferred again in the next 3-5 years. We've toured homes in Danada East but so many of them look exactly the same. I think it would be hard to sell in 3-5 years and get enough to break even. Am I right in assuming this? I looked through most of the Wheaton postings more than once and I ve seen people suggest areas and specific homes. I've heard good things about Stonehenge, Danada West and Marywood. Any help would be greatly appreciated.
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Old 02-20-2016, 09:23 PM
 
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Default Are you going to move in 3-5 years???

If you plan to move out of the area in 3-5 years it is probably better to rent.

Taxes are likely to skyrocket and I would not risk buying anywhere in Illinois...

If you plan on staying put for a decade maybe Illinois will claw its way out of the economic cellar and buying is more sensible.
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Old 02-20-2016, 10:51 PM
 
78 posts, read 70,620 times
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there are no rentals available that meet our needs. We are going to purchase a home and are looking for advice from the community on where we should concentrate our search in Wheaton. The reason I added that information to my OP was that we are looking for a desirable neighborhood that would have the best opportunity for possible resale in 3-5 years (hopefully we will be able to stay longer). I understand what you're saying. Is there a subdivision you can recommend for a family in our situation? We are not looking to flip or take profit and resale never really figured into our thinking until we learned that Danada East (an area we were considering) had 12 homes come up last spring and only 3 sold - the rest went off market and may be coming back again this spring. The current listings in that area have long market times. And since many of the homes there look exactly alike the resale conditions scared us. I hope to get some guidance as we are not from the area.
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Old 02-21-2016, 05:13 AM
 
9,343 posts, read 8,415,106 times
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If you have 3 children, why not get a smaller home with only 4 bedrooms? Maybe get a 2500 square foot home. If you are only going to stay a few years, learn to live in a smaller home or let 2 kids share a bedroom.
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Old 02-21-2016, 06:49 AM
 
78 posts, read 70,620 times
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We would prefer 5 bedrooms - 1 is for my mother in law.

Ok - ignore the fact that we may be moving again. I shouldn't have added that information. It seems to be too distracting. And advice for renting of choosing a smaller home isn't helpful.

Please help us with subdivisions that are most desirable to purchase a home in the southern area of Wheaton.
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Old 02-22-2016, 10:19 AM
 
4,112 posts, read 7,281,525 times
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I live in south Wheaton and have since 1989. The most desirable subdivisions in south Wheaton (in no particular order but I will expand on it) are Danada West, Danada East, Danada North, Stonehedge, Legends, Amberwood Estates, Muirfield, Hunters Glen, and Marywood. Legends, Amberwood and Muirfield are over your budget so you can scratch them. (You might still look to see if there is anything there available at your price point). So that leaves the others.

None of the houses are really the same in the subdivisions, they vary and they are different inside. There are similar floor plans which are a variation on a theme but they have different finishes and amenities so the houses are not cookie cutter. Most are center entry colonials based on a Georgian, Cape Cod, Farmhouse, or Salt Box type design. It will be difficult to find a five bedroom home. Many are four bedrooms with an "office" on the first floor however many of these homes only have a powder room on the first floor making it difficult as an in law arrangement. Maybe two children can share a room?

There are also nice homes in pockets in places that are not subdivisions. Here are a few for sale.

https://www.redfin.com/IL/Wheaton/30.../home/17297231

https://www.redfin.com/IL/Wheaton/19.../home/18118096

https://www.redfin.com/IL/Wheaton/13.../home/18138713

https://www.redfin.com/IL/Wheaton/22.../home/18130612



The houses are well built family homes and I believe they will hold their value as they are desirable places to live. Its always dicey to have a lifestyle where you might move in 3 to five years as their could be a market downturn and you could be stuck upside down. I personally never worry about these things as I normally stay in a house from 10 to 20 years.
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Old 02-23-2016, 10:34 AM
 
11,973 posts, read 30,268,028 times
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I've resisted commenting on this thread since most of the south Wheaton subdivisions are similar in terms of stability as far as I can tell, even if the housing varies from more modest 1970's ranch houses to early 2000's McMansions. But I'm not sure you'll do better than Wheaton in terms of resale anywhere in the area.

Sky high property taxes and a lagging economy in Illinois are not helping the housing market along, but if you are dead set on buying for the short term and want to mitigate your risk, I think Wheaton is a good choice. I don't think you'll do much better anywhere else in the area. And hey, it's a great area in terms of quality of life and amenities, so maybe you'll like it and will want to stay longer!
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