Relocating /// NYC to CHICAGO. Safe Suburban Home Commutable to Downtown.

[nana053]

Originally Posted by PaperDolls

I do appreciate everything. Thank you for the the information

I am a SAHM, and plan to stay that way. But still looking to somehow work from home. Maybe to possibly raise the budget. My husband and I are setting up a plan to save each month.

I do have to admit, after all this research, I have fallen in love with Evanston. I don't remember if it was mentioned to me here, or if I saw that on other threads.

It would literally give me everything I need. Yes, highly inconvenient, catching a bus everywhere (playdates, appointments, school, etc), but doable --- you have the buses, the l, the metra. And as a New Yorker, I am used to it. Public transportation isn't even reliable here. Always delays, comes late, you name it.

The issue with my request is my budget. It is a tight bugdet. How on earth do people save for a home in the 400k. I saw a number of homes at 450k or more in Evanston.

Even people in my situation, with one income, can seem to save for a home 450k or more. Isn't the rule of thumb to put 20% down for a house? How on earth can I get 90k for a down payment? I don't want to wory about loans at all. We won't take one out. I need all the advice I can get.

Like you all said, it's best to be realistic. And Evanston seems very convenient for my lifestyle. Seems like I can get around. Anway, that being said ... I suppose that would be the compromise. Pay so, so, so much more, in order for me not to learn how to drive.

And of course, I do plan on visiting Chicago soon.

I lived in Evanston without a car when my first child was an infant and a toddler. Once the second child came along though I wanted that second car to cart them around. Depending upon where your child will go to preschool, you can live within walking distance of the school and there are many good preschools in Evanston. Btw, it is not like NYC where you apply to preschools and hope you get in. In Evanston, you can find a school that admits kids on a first come first served basis.

Note though that Evanston tends to be expensive though. I loved it because I could walk everywhere and/or take the bus or the *el.*

[knitgirl]

Originally Posted by PaperDolls

I do appreciate everything. Thank you for the the information

I am a SAHM, and plan to stay that way. But still looking to somehow work from home. Maybe to possibly raise the budget. My husband and I are setting up a plan to save each month.

I do have to admit, after all this research, I have fallen in love with Evanston. I don't remember if it was mentioned to me here, or if I saw that on other threads.

It would literally give me everything I need. Yes, highly inconvenient, catching a bus everywhere (playdates, appointments, school, etc), but doable --- you have the buses, the l, the metra. And as a New Yorker, I am used to it. Public transportation isn't even reliable here. Always delays, comes late, you name it.

The issue with my request is my budget. It is a tight bugdet. How on earth do people save for a home in the 400k. I saw a number of homes at 450k or more in Evanston.

Even people in my situation, with one income, can seem to save for a home 450k or more. Isn't the rule of thumb to put 20% down for a house? How on earth can I get 90k for a down payment? I don't want to wory about loans at all. We won't take one out. I need all the advice I can get.

Like you all said, it's best to be realistic. And Evanston seems very convenient for my lifestyle. Seems like I can get around. Anway, that being said ... I suppose that would be the compromise. Pay so, so, so much more, in order for me not to learn how to drive.

And of course, I do plan on visiting Chicago soon.

You do not need to put down 20%. I work in the mortgage industry and plenty of first time buyers put down 5 - 10%. That said, since you're new to the area, I highly recommend that you rent for a year to figure out where you want to set down roots.

[damba]

Originally Posted by knitgirl

You do not need to put down 20%. I work in the mortgage industry and plenty of first time buyers put down 5 - 10%. That said, since you're new to the area, I highly recommend that you rent for a year to figure out where you want to set down roots.

Agreed- although from the way she wrote it, I wasn't certain whether or not there is aversion by the OP to borrowing to come up with a down-payment, or a mortgage loan in general(?)