Premium condos for sell in Chicago near me? Chicago’s Lincoln Park neighbourhood is where everyone from collegiate freshman and newbie lawyers mixes and mingles with young families and well-established brokers. It’s one of the best area to stay in Chicago forfamilies and is where you can enjoy a true slice of the local life. Chicago is a vast and expansive city. It is the largest city in the Midwest and is a central hub for arts and entertainment, music, food, and culture. Find more information at Chicago real estate. Ankeit has helped me lease my condo unit multiple times over the past few years. He has great communication skills, sets realistic expectations, and delivered great tenants. Would recommend him and his team to anyone looking for real estate brokerage help in Chicago.
Next up: home price trends. In November 2020, existing home prices grew by a whopping 15% compared to last year—rising to a national median of well over $300,000! This marks more than 100 straight months of year-over-year price gains.4 Sellers, this should put a big smile on your face! And hang tight, buyers—we have some advice for you too. If you’re going to buy a home in this expensive market, you absolutely must find out how much house you can really afford. Commit to staying within that budget amount no matter how much pressure you feel watching competitors pluck good homes off the market.
Have an Emergency Fund: If you lost your job tomorrow would you have enough money to live off while you look for a new one? If not then you’re not alone. This study found that although Americans are doing a better job at saving, around 24 percent of them (57 million people) don’t have an emergency fund. Now I don’t want to be a negative Nancy or a Debbie downer, but emergencies happen all the time. They may not happen to you, but it’s always good to be prepared. You can’t predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months living expenses. That means if you lost your job tomorrow, you’d be able to live off your emergency fund for 3-6 months while you look for a new one. Net worth can seem like a tricky topic, but it’s quite simple. Your net worth is how much money you are worth. If you were to sell everything you own, then pay off everything you owe, how much money would be left?
Speaking of that home being out of your price range, you may want to get pre-approved with a bank or mortgage lender ASAP. First off, real estate agents won’t give you the time of day without one, especially in a red-hot market. And secondly, if you don’t know how much house you can afford, you’re basically wasting your time by perusing listings and going to open houses. This is especially true if the homes you’ve got your eye on are consistently going above asking since you’ll need even more purchasing power. It’s not hard or all that time consuming to get a mortgage pre-approval, and it’ll give you more confidence and perhaps make you more serious about finally making the move. Tip: Look for an online mortgage lender that lets you generate a pre-approval on the fly in minutes (and know you don’t have to use them if and when you proceed with a purchase!).
If you’re going to buy a house it makes a lot of sense to make sure that rush hour traffic isn’t unbearable. The last thing you want is to buy a home and find out that you’re going to be sitting in heavy traffic every day. Time is more valuable than money, you don’t want to spend your time in traffic – I know I don’t. You want to spend your time doing more important things like spending time with your family. We always recommend our buyers check out the commute to and work on different days just to make sure it’s something they are comfortable with. Discover even more info on https://www.chicagorentclub.com/.
Now that you know the “fair market value” of the home you like, it’s time to determine how much you are willing to pay. Establishing this prior to making a formal offer helps define your personal limits. You should determine how much to offer, how much earnest money you will put down, how much of the closing costs you will ask the seller to pay, when you plan to settle, and what inspections you plan to have conducted. Your agent will offer great advice for structuring your offer. Remember to ask your agent about contingencies and their importance. If you don’t fully understand something, be sure to clarify it.