Where to move?

[princessbing68]

We really have limited choices. I definitely need access to Metra and we can not spend over $140,000 for a house. We just can't. The only other option is to get a condo and I do not want to buy an apartment. We have been renting for a long time now and I am through living someone else's orders. Not to mention throwing money away every month.

Unfortunately the only houses I have found that are within our price range are in Waukegan and Round Lake. I know I have heard horrible things about Waukegan and Round Lake.

I am really depressed about this entire situation.

[chitown85]

Since you said you need public transit to get around, Waukegan and Round Lake would not be desirable. Waukegan is walkable in parts, but if you commute to the city, it is a nightmare. You are closer to Milwaukee than Chicago.

Round Lake is rural so relying on public transit is not an option. Round Lake is becoming an up and coming area, but is still rural and not even really suburban.

In terms of the types of people who live there, its not dangerous or anything like that, but it is much more so than other parts of Lake County, which tends to be wealthy.

Why not rent in a large apartment building where they leave you alone?

[cubssoxfan]

Have you considered renting a house or townhouse. Perhaps drafting a rent to own agreement where your rent is towards a down payment. There are some desperate home owners looking to avoid foreclosure, Also, renting is not necessarily throwing money away. If you can rent in an area with good schools for your kids, but can oly afford to buy in an area with mediocre/poor schools, is that wise? Have you calculated the cost of home ownership? The property taxes, the repairs, the unexpected hot water heater/dishwasher/air-conditioning breaking and needing repair? If you can invest your down payment into retirement savings compared to putting all your money into a house and having no retirement savings, perhaps renting is better.

[chet everett]

Originally Posted by cubssoxfan

Have you considered renting a house or townhouse. Perhaps drafting a rent to own agreement where your rent is towards a down payment. There are some desperate home owners looking to avoid foreclosure, Also, renting is not necessarily throwing money away. If you can rent in an area with good schools for your kids, but can oly afford to buy in an area with mediocre/poor schools, is that wise? Have you calculated the cost of home ownership? The property taxes, the repairs, the unexpected hot water heater/dishwasher/air-conditioning breaking and needing repair? If you can invest your down payment into retirement savings compared to putting all your money into a house and having no retirement savings, perhaps renting is better.

I always told perspective tenants the same thing -- when you rent a average house in a nicer town you are moving in the right direction for your kids and yourself. If you buy in a declining area you are taking all the risks. As other people use the downturn of prices to "move up" this is especially good to consider...

[princessbing68]

Valid points. Thank you. The only problem we have with renting is that we have two pit bulls. And no I can't part with my dogs.

[chicagojlo]

I agree that renting is not necessarily throwing money away, comparable cost of owning what I rent would be 50-100% more than I am paying.
You can try to find a more sympathetic private landlord, or even try one of the larger managed properties where they are slightly more accepting. The problem with renting with dogs if you can find someone that will allow them is they are going to charge you more for it.
Sounds like you are going to have a problem getting everything you want - might be time to re-evaluate what you are willing to put up with to have your dogs.