Archive for the ‘Real Estate Buyer Tips’ Category
A home for your car…
“How important is a garage for resale value?” “Should I even look at properties that do not have a garage or attached parking because it will adversely effect the resale of the property?” These are common questions that buyers as k me when searching for properties in Chicago and the North Shore.
The easy answers to these questions are;
1. “A garage is very important for resale value, especially if you are purchasing a condo because parking is often limited and the change in demographics imply that areas that are within walking distance to public transportation are going to witness a population growth. Thus, the long-term importance of a garage or, at the very least, an outdoor parking space, will increase as available street parking decreases.”
2. “Of course you should look at properties that do not have parking.”
Both of these questions can not be answered fully without considering the importance of LOCATION. Location is the most important factor in buying and reselling a home. The importance of location is also a key factor of the emotional response that a buyer has towards a property because it centers around the lifestyle that they envision themselves living. If a buyer is looking a two condos, one that is a short walk from retail and public transportation and the second is a similar condo with a parking space that is 2 miles from the nearest retail and transportation area, the buyer will most often choose to purchase the condo without parking because the location fits in perfectly with the lifestyle that he envisions himself living. If you are buying a property in Chicago or the North Shore, first choose where you want to live and then order the rest of your criteria as you see fit. Remember, that this is not only an investment, but also your home and the objective is for you to enjoy your time there.
I recently purchased a home in Evanston without garage parking, but in a great location, and the only time that I have had regrets is during the Blizzard of 2011 when I had to find and shovel my car out !
Please contact me if you are buying or selling your home in Chicago, Evanston, Wilmette, or anywhere on the North Shore.
If you bought a home in 2010…
I received an email today from Kathy O’Malley, an excellent real estate attorney who works in Chicago and the North Shore about filing for property tax exemptions. If you purchased a home in Cook County in 2010 be sure to read this.
If you are in the market for a new home in Chicago or the North Shore suburbs, please contact me.
Tax Credit Applies to Chicago, Evanston, Wilmette, Skokie and Morton Grove Buyers
Once again, I would like to focus on the First Time Homebuyer Tax Credit. There are less than 60 days until a property has to be under contract to take advantage of this credit.
When I am showing perspective buyers properties in Chicago, Evanston, Wilmette, Skokie and Morton Grove, I am often asked for information on the tax credit. While perusing the web I found a wonderful site that was set up by Better Homes and Garden Realty that thoroughly explains the tax credit. The link is www.homebuyertaxcredit.com. I strongly urge first time homebuyers and current homeowners who are in the process of selling their homes to visit this site.
How a Baby Effects your Home Search
In my last blog on real estate in Chicago and the North Shore suburbs mentioned that I recently became a father for the third time. I would like to focus on what questions arise when preparing to purchase a home when you are expecting and what to look for to make the first year as enjoyable for you as it should be.
First of all, it is far easier on your family to move prior to having a child. I recommend giving yourself at least 2 months to become acquainted with a new house. If you chose to wait, put your search on hold and resume once the baby is around 3 months old. This enables you to have time to focus on what is important and not add stress to your life that comes with searching for a new home.
A few things to think about when searching for a new home with a newborn on the way (or already here!):
1. Can you walk anywhere from your new home? Is there a park or a café nearby? Being able to put the baby in a stroller and get out of the house will literally save you at times!
a. This can be an important factor when deciding to purchase a condo in a densely populated area, such as Lincoln Park, or a home in the suburbs, such as Wilmette.
2. Is there a garage? From personal experience it is more difficult to lug a baby in and out of a car when it is parked on the street. Unfortunately, a garage is a luxury for many of us.
3. Does the house have a decent sized family room? You will be spending an inordinate amount of time in this room, so make sure that it fits your taste.
Please contact me with questions regarding real estate and how to find the perfect home with a newborn.
