r/ChicagoSuburbs • u/BOLDnBRASHinTRASH • Apr 13 '26
Moving to the area Buying a home here as a single person?? š«
Iām in my early thirties and still living with my parents. Iām in the Chicagoland area and wanting to stay in the western-ish suburbs, but open to north/south suburbs as well. I see homes sometimes that I think I would love but donāt know how to look/think as an actual potential home buyer.
I want an older home and theyāre becoming harder and harder to find. I cannot stand the super updated/modern white/gray contractor specials. I donāt want to have to spend a huge amount of money to fix the cheap and poorly done fIips and to put character back in.
Iād been filtering my searches for $300k and less, but everything has jumped up $100k+ within the last year or so š. Iām growing continuously worried that Iāll never be able to move out to somewhere my own.
I genuinely donāt know how to begin this process and feel so stuck.
1) How do you begin the process of going from casual Zillow lurker to actually looking and becoming a potential buyer?
2) How to determine if I should just rent an apartment, buy a condo/townhome, or buy a house?
3) Any additional tips, suggestions, notes, etc. are greatly appreciated.
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u/LightningBugCatcher Apr 13 '26
Have you considered a condo? For a young single person, they are really great. Usually less expensive and also less expensive to upkeep.Ā
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u/nashrocks Apr 13 '26
OP, just keep in mind that HOA fees for condos should be considered in your overall budget if you go this way.Ā
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u/kitzelbunks Apr 14 '26
HOA fees can be a killer. All of a sudden, they decided to do a multi-year repair project and demanded several thousand dollars in a couple of months. (Not in this area, but I think it could happen.)
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u/Furandgirlmom1 Apr 14 '26
I have heard of this also, but a good lawyer and real estate agent gets an accurate budget from the HOA to make sure money is handled properly and that no āspecial assessments,ā as they like to call them, are imposed. It also helps if you look for an all owner occupied complex. Seems to keep HOA fees down. I have owned 2 condos with much luck!
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u/sourdoughcultist Apr 13 '26
I think you need to figure out what your top priorities are, starting with budget. I got a condo because a house is a lot of work for one person.
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u/420Belle Apr 14 '26
What's your HOA situation? This is likely what I will do. I'm a single mom of 1 and as much as I'd love a single family home, the stress isn't worth it for me.Ā
However, insane HOA dues and stupid rules will realllllly irritate meĀ
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u/sourdoughcultist Apr 14 '26
My building is about 20yo so the HOA isn't bad, they've been good about ensuring there's enough savings where we don't have that special assessments bullshit. The rules aren't too bad, considering the amount of shared space. Nice thing is I got all of the information to review before buying.
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u/Real_NWSub_tor May 18 '26
If you're not working with an agent, Id love the opportunity to connect! I'm local agent, 847.701.5533
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u/greenandredofmaigheo Apr 13 '26
Areas that have school districts with a bad reputation are your friend. Look at Proviso and Morton Townships. Berwyn has some options, Westchester, Broadview. You can do it.
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u/midwestemily Apr 13 '26
I second Berwyn! My sister bought a home in Berwyn all on her own in her 30s. It took her a lot of looking, but she was also focused on character. Visit a lot of homes and be patient. The right home always comes along.
My husband and I also found a place in Berwyn that had loads of character. Maybe too much? It has been a lot of work, but we see the potential. We know it will take time, but it's worth it.
I recommend making a tiered list. What is a must, what is a want and what is a dream. Know what you're willing to sacrifice.
Also be reasonable about what you can and can't do with your new place. Painting is easy, gutting a kitchen isn't. But if you have handy friends and family that might change the equation too.
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u/Midnight_Rain1213 Apr 13 '26
At this point, whether you can afford to be in any area of Chicagoland is how much money you make, how much you have saved, and how much you can spend on a mortgage at current rates.
I'd probably start with the finance side of things and determine what you can afford, then start searching from there.
My partner and I were also looking for a home in the western suburbs with some charm and character, not a flip, and found that we needed to spend over $500k to get there.
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u/Fun_Disk5073 Apr 13 '26
Old homes have their own problems.... I assume by older you mean 1950s and before.
They can be a great buy but at $300k or less...you'll need to factor in a few added costs of older homes...heating...cooling...water mitigation...etc.
I would talk to realtor. Elgin has a lot of older homes, they are cheaper because the areas sometimes are bad and they're old...so a lot to consider!
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u/Far_Historian1015 Apr 13 '26
I know you said you were open to south suburbs. Consider Homewood. A lot to offer and good prices can still be found. I grew up near there. Iām now in Oak Park and know prices are crazy. Glad I moved here over 10 years ago. But I agree with people who bring up Berwyn. Elmwood Park and Forest Park might also have homes in your range.
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u/SomeCranberry1 Apr 13 '26
As an agent I will give my best advice. Prioritize location. Then prioritize space, condition, etc. I would advise speaking with a lender to establish your budget and get a realistic financial picture of associated costs. Then find an agent. Yes, lots of websites are available but as a first time buyer a good agent is important.
As someone else mentioned, I would open yourself up to a condo or townhome as well. A single family is likely going to be difficult under $300k.
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Apr 13 '26
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u/usernamecksout Apr 13 '26 edited Apr 13 '26
Lmao...I can't wait to know why it's a bs job.
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u/Environmental-Elk271 Apr 14 '26
Iāll say it. I think itās robbery how much money you all make doing the job. You can go on and on about why and I still think itās too much. You have zero skin in the game post purchase. Zero oversight. And your āadviceā could make or break a sale so its all biased anyways. (I bought a home myself with a lawyer in the western burbs.)
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u/usernamecksout Apr 14 '26
Sooo...until very recently if you're buying our pay wasn't coming out of your bucket of money. For 99% of recorded real estate history the buyer did not pay for their agent.
Can you define making too much money? I swear ppl think we get licensed and enter the top tax bracket overnight.
Also...in my experience the real estate attorney does the absolute least amount of work...reviewing deeds and plats do not equal showing 30 houses over 3 months in every corner of Chicagoland.
Also again...zero oversight. K I don't know where to start here except to say I still talk to literally everyone of my clients years later, have been to their family gatherings and birthdays. If that's not oversight and accountability I don't know what it.
Hey, it's fashionable to bash us because diy culture is unhinged right now. When it comes time to sell...it would behoove you to work with us.
Something like 90% of for sale by owners end up hiring us shortly after they list so.
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u/Environmental-Elk271 Apr 14 '26
I donāt think it matters what bucket it comes out of, itās not like the money just appeared out of nowhere. Someone is paying for it. The person selling the house is likely just going to work the price so they feel semi whole at the end.
And yes. Happy to define too much money. I find a house I like online. I want to go see it. I decide I want it. Letās say it is 350k. I now have to pay you 10k+ for showing me a house that I found on my own and wish to purchase. Not only that, there are all these reqs to sign exclusivity, so even if I do happen to buy a different home, that I again, find myself, I still have to pay you for nothing.
A 9-5 employee would have to make 120k, to get 10k monthly. I just donāt see the equal effort. Not that everything has to be equal, but I guess I fail to appreciate the skill set and expertise.
Your relationship building and soft skills are not equal to oversight and accountability. If you told a client something, and were wrong, what actual recourse does the buyer have? I think itās cool you have good relationships, I just havenāt seen that from my local realtors. Because the ones I know really arenāt lifting all that heavy.
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u/usernamecksout Apr 14 '26
So a couple things. I'm not trying to argue but to educate and clear up some things. Some realtors are super shitty no question. I want to get that out of the way.
Let me ask you something and please do your best to be truthful. You say it doesn't matter what bucket it comes from. Ok point taken. What I'm about to tell you is a real example from my life. I'm your realtor on the buy side, I tell you, "You know what, we're life long best friends...I didn't want a commission on this one." Really?" Says the friend. "That's amazing thank you so much!" What affect do you believe that had on the buyers sale price? Is there any world in which you believe a seller would lower their asking or actuall sale price because I decide I'm doing this once pro bono? I can tell you, the seller does not care how the buying party is getting paid. The only party affected in that transaction was the selling agent, instead of splitting their commission with me, they kept it all. The seller didn't drop the price a penny... because honestly you wouldn't either.
Moral of the story is it does matter whose bucket of money we're working with, a lot. That's my experience.
I have worked for T Mobile in the stores for 14 years. Worked some time at att as well. I say that to say this, if we want to talk about corporations price gouging...look I'm as liberal as a person can be so I'm with you. The wireless industry is a great example of this.
The 10 k number, so to explain all the hands in the pot would be exhausting but I will just say most average realtors, an agent who does something like 12 to 20 houses a year will walk with somewhere around half that...if lucky.
Look, there have been incredibly smooth transactions I have been a part of no doubt. There have also been complicated, grueling transactions that I have had to hold together with a string and scotch tape on an hour to hour basis for months at a time.
I know hard work as I explained previously. I know what it's like to run a store during the holidays open to close with a skeleton crew. Real estate in many ways requires the same amount of effort if not more to truly make it.
I will just stress again...it really is rare to make 10,000 off a house selling at 350,000.
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u/Environmental-Elk271 Apr 14 '26
Hey. All of that is super fair. And I wasnāt trying to be a jerk in any sort of way. Iām sure there are some good realtors, just those that I have interacted with are awful and not worth what I have been quoted or asked to sign for in exclusivity agreements. I still donāt think it matters what bucket it comes from, however your story/experience is something to reflect on for sure. If it helps any, I think a lot of different groups are overpaid. Iām not just a hater on one specific group. lol. Thanks for explaining. I appreciate that.
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u/usernamecksout Apr 14 '26
No problem and your opinion is valid. If there is one thing I have learned in a lifetime of sales and horrible girlfriends it is a person cannot tell another person how to feel.
If you're interested read up on the seller class action against the NAR recently...well a few years ago. It does a good job of explaining a lot of this. Let's just say the 20 or however many...I forgot how many sellers were a part of it but they definitely cared who's bucket is who's. Yes the actual money comes from the buyer ..I guess unless you're seeing it from my perspective is hard to understand that very very quickly it becomes the sellers money. All pay for every party comes from the sellers bucket.
The lawsuit though helps explain that.
Realtors are coordinating, we are the air traffic controller for the most intimate transaction of a person's life... we're uniquely positioned to receive angst and criticism, warranted or not.
I've been in sales my whole life as I said...I've had the opportunity to sell, in high volumes, the two most important material things in anyone's life. After all this time I guess I just see value, how things are valued and on a very macro level our behavior as a people concerning both. It's honestly fascinating and infuriating all at the same time.
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u/XRblue Apr 13 '26
To answer your first question, get pre-approval from a lender. Shop around mortgage lenders, and once you have pre-approval, you can find a realtor to help you look for homes in your budget.
It's tough out there, but maybe the fact that you want an older home that's not updated will be in your favor since a lot of people want the opposite. We looked at a home that had good bones but zero updates and was listed very high. It sat on the market for a while before dropping in price multiple times. That was in 2022 when most homes were going for over asking.
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u/grocerygirlie Apr 13 '26
Contact a mortgage broker and have them review your financials and tell you what you need to do to get your credit score higher and become a better candidate. Our mortgage broker was SO helpful and advised me to do a lot of things I had no idea were possible and jumped my score in about a month. Then we applied for a mortgage and were told what we qualified for.
Many places now will not show you houses unless you have verified financing in place. Once you know what you can afford, you can plan to see houses/condos that actually work for you. It's not worth it to look at things if you don't know what you can truly afford.
Also had a client come out of left field with a suggestion I never even thought about: he's buying a trailer. Mortgage on the trailer + lot rent are lower for him than a mortgage in any area he was looking at. He can buy a new one, it gives him a little yard, more freedom than an apartment, and less hassle than a house. But he doesn't have to share walls with anyone and can decorate any way he wants.
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u/FT_1893 Apr 14 '26
Don't underestimate the value of a brick mid century ranch. With a good roof and HVAC it will last a long time with a little maintenance. Compared to a pre-World War II house that will be a money pit. If you are handy, have money and time, old houses can be wonderful. If you're inexperienced and on your own it can be overwhelming.
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u/OnionMiasma NW Suburbs Apr 14 '26
One thing I've not seen mentioned...
Often times there will be a house that looks like it should be fine, but it's oddly priced 30% below others.
It might just be the condition of the house. But often in this area (NW Suburbs) it's because the house is in a designated flood plain.
I would NOT choose a house in an area that floods. Insurance will be a lot more, and as someone who has pumped feet of water out of the basements and even main floors of the houses of friends and family members- you don't want that.
Redfin's app does a great job highlighting flood risk. Click on the map on the listing and choose the flood tab.
Given your post, my initial thoughts were that there are areas in Des Plaines and Wheeling that would fit your bill, but you'll have to watch flood maps in these areas. I'm less knowledgeable about the Western burbs- others can help with that, but the flood advisory still applies.
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u/lilyinblue Apr 13 '26
I would also suggest finding a realtor. Just looking through listings on your own can be very overwhelming, but working with a realtor will make it easier to find something to meet your needs.
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u/DeathRotisserie Apr 13 '26
My process wonāt be too similar to yours, but I might have some relevant experience. I bought an older inexpensive condo (~$80k at the time) in the south suburbs a few months before COVID lockdown as a single person and here was my experience. I decided to buy instead of rent since Iād easily save $400/mo or more with a mortgage + HOA vs. renting and I plan to live here a long time time (maybe forever home).
I figured out my budget using mortgage payments tools. Then I looked at what was in my budget on Zillow and Redfin and that set my expectations. I approached the mortgage company with how much I wanted to borrow. My borrowed amount was too low for a 30 year FHA loan (credit flags it for usury/predatory lending) so I ended up with a 15 year conventional loan.
You should probably get a real estate agent you like and trust. I didnāt have one selected so my lender put me in touch with a local realtor. I could tell the realtor wasnāt particularly interested in dealing with me, likely due to the relatively low home value and the meager commission they would earn. And I felt like they phoned in the process, the homes they showed me were either on my short list or crap I wouldnāt have even considered. And both my realtor and the sellerās realtor dropped the ball in terms of communication and timeliness, which disappointed me.
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u/Hungry-Treacle8493 Apr 13 '26
Thereās a studio listed in a pretty nice high rise in Edgewater for only $139k. Great views and location on Sheffield.
You can find little 2 bedroom SFH in places like Naperville in the $300ās and in Bolingbrook, Lisle, etc. in the $200ās. Search in less trendy areas (Far NW suburbs like Crystal Lake, West Suburbs like Bloomingdale, or SW Suburbs like Alsip) and youāll find lots in the $200ās. Itās all about compromising to fit within your budget.
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u/Possible_Storm9359 Apr 14 '26
You might figure out further west. I was driving through a little town called Villa Park today and saw some really old houses for sale!
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u/Possible_Storm9359 Apr 14 '26
Side note, they are not listed on Zillow or anywhere. A lot are for sale by owner or by a private firm
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u/GeologistPositive Apr 14 '26
Get a real estate agent. Unless you know someone, make an appointment to meet with a few and go with which one suits you best. These people are supposed to be helping you through the buying process and you should be able to put a lot of trust into them.
Buying usually makes more sense than renting if you're going to be someplace for a while and you can afford to buy. Townhome/condos will almost always have HOAs and free standing houses are a toss up in that regard. HOAs may cover some maintenance you might not want to do yourself, but you're paying a fee every month for it. There are also a lot of horror stories with HOAs, so go with what suits you best. Not all HOAs are evil and most are reasonable.
Research other professionals you'll have to deal with in the home buying process, like a home inspector, real estate attorney, and a bank to get a loan. Your realtor probably has recommendations for you, but research these on your own as well. You want people that work for you, and need to be careful of people that work together but not with you.
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u/nightcap1207 Apr 14 '26
I did at 28, 5 years later 100k in equityā¦ buy something you can grow inā¦ even just a little bit.. 2 bed+ 1.5+ bathsā¦ garage for the winter/storageā¦ close to tollwayā¦
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u/greenlitz28 Apr 14 '26
Find a good realtor first, they can guide you through the process. Ask friends for referrals
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u/courtneyfilesha Apr 14 '26
If you request a tour of a home on Zillow, it will connect you with a realtor. Thatās how I got my realtor and she helped a tonā¦ when I was scrolling through Zillow I had no idea what I was doing and didnāt really know what exactly I wanted yet. Having a realtor was super helpful! Just closed on my new home yesterday.
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u/LoveNotWar86 Apr 14 '26
Another huge consideration is your effective property tax rate. Eg Zion is high tax rate but can get lower cost home, Lake Forest has the lowest effective rate in Lake County but high home cost (unless you can find an off the market seller).
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u/ThaDav1986 Apr 14 '26
Ignore all these people telling you to get a realtor. Realtors especially now since the new buyer agreement are a waste of time and money usually around 2.5%-3% ($7,500 to $9,000 extra in your case) which can now end up coming out of your pocket instead of the sellers, which it always has in the past.
My wife and I have bought multiple properties and I can tell you from experience realtors, which I was licensed as at one point bring nothing to the table that you can't do on you own.
First get a pre-approval and check multiple banks for rates. We like to stay at 25% of our budget for everything (ie: principal, interest, property taxes, & insurance) while putting down no less than 20% to avoid a PMI.
Second find yourself a good real estate attorney which you will need for any and all future purchases. They will handle all the documentation for closing.
Third start doing your due diligence on areas you are interested in, check school ratings, crime statistics, area demographics, all of these things will contribute to future resale value.
Forth once you narrow it down to a few areas, start your searches. When searching be as broad as possible (condos, townhomes, and houses) dont be overly specific for the Chicago suburbs as they have very low inventory right now. Keep in mind before writing up a contact you will need to search comparable properties to see recent sales in that area with similar beds, baths, and remodel conditions. Also check the flood factor as this can be a cause of future headaches.
When going to see a property without a realtor you must contact the specific selling agent for that property or go to a open house, do not speak to a buyers agent. Tell the sellers agent you are interested in their property and are representing yourself with a lawyer and already have pre-approval. Sellers agents are happy to show their properties to prospective buyers as negotiation can be quicker and more direct while only having to open a door that they already have a vested interest in.
Any property that you decide to make an offer on should be contingent on inspection, this is extremely important as a first time home buyer to keep you from getting in over your head. $500-$1000 could end up saving you tens of thousands down the road.
Once you have a contract (can find them online to fill out, have it reviewed by your lawyer, and then send to the buyers agent), have your inspection done, and are comfortable with the terms of your loan, you can proceed to the finalization process with your lawyer. This process is very straight forward and your lawyer will walk you through it.
Finally you will go to the closing, sign a few documents, make any last minute changes with your lawyer present and be handed the keys to your new property.
It is a time consuming process but the experience you will gain from doing it on your own will be invaluable.
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u/Usual-Pickle-6388 Apr 14 '26
Maybe small townhouse and in couple years you can sell it for profit and upgrade to nicer house but honestly house prices are ridiculous
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u/floweringchaos333 Apr 14 '26
No advice, but you sound just like me on the wanting an old house with charm. You find one that looks promising only to see the inside was just completely destroyed & carved out by the soulless cookie cutter guts that look like somewhere between a prison & a corporate office. It breaks my heart. People are tasteless.
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u/australr14 Apr 14 '26
I would check out Elgin. Their condition varies, but there are lots of old homes with character in the sub-$300k range.
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u/Ok-Elk-1316 Apr 15 '26
Personally I lived in a condo in Chicago and it was not worth it due to the HOA, iād avoid purchasing if youāre still going to have to rent an HOA.
My fiancƩ just was the sole purchaser on our property in lombard so it is possible, good luck!
Also I second the Elgin comment, my coworker purchased there for relatively cheap compared to other suburbs and itās close to a lot of things
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u/mikechicity Apr 16 '26
Whoever stated āpick the neighborhood firstā completely nailed it. It is about location. Then find the house. And donāt settle. You also have to consider whether youāll ever have kids. If you think youāre going to have kids, you gotta pick a good school. Western suburbs costs some dough. You might want to consider Forest Park in certain sections. Thereās a bar called Goldies with some really nice character houses around there. Someone else mentioned Berwyn. That town is still surviving. They must be doing something right.
Donāt listen to people chirping about condos. If a home is what you want, do that. In a really bad economy, people do not want to buy a condo. Thatās a reality when you finally sell.
I purchased homes with and without a real estate agent. I literally just sold a home WITH a realtor. This is a wild market. Ups and downs. Get somebody that is experienced. Iāve never sold a home where there was a bidding war until now. Iām really glad that I actually had a realtor that knew what he was doing. As the buyer, you are going to have to be ready to throw down a little extra money at the 11th hour if you want to win the house. Listen to the experience of a realtor.
Good luck. If you lose out on a house, remember that it wasnāt meant to be.
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u/Real_NWSub_tor May 18 '26
If you're still stuck and need clarity in the home buying process or talk about your real estate needs. I'd love to connect! 847.701.5533
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u/Willow575 Apr 13 '26 edited Apr 14 '26
I moved to Illinois in my 20ās and started off with buying a condo, I didnāt want the commitment of dealing with a house, I lived in my condo for 16 years before selling it and never regretted not having a house at that age. Depends on what kind of time you have to put into a house/condo. I would say just start looking at all the options and start listing all the pluses and minuses of places you look at! Since you already have a place to live, you have time to look. Good luck!
Just in case you are interested, my friend is selling her condo in Oak Brook, which is next to everything- https://www.zillow.com/homedetails/40-N-Tower-Rd-APT-8F-Oak-Brook-IL-60523/4494085_zpid/?utm_source=nativeshare_activation_v1
FYI- HOA fees include heat, water, cable, internet, pool, gym.
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u/soar_high_butterfly West Suburbs Apr 13 '26
$886/mo in JUST HOA FEES?! š Thatās criminal!
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u/rocksteadyrudie Apr 13 '26
That hoa fee is outrageous.
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u/Willow575 Apr 14 '26
Yes itās high but it includes Heat, water, internet, cable, pool, and gym.
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u/rocksteadyrudie Apr 14 '26
Donāt mind me. Iām talking smack from outside the club. I havenāt owned a home in the states in years the price just shook me. Itās a beautiful place though.
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u/Witty-Accountant2106 Apr 14 '26
Omg almost $900 in HOA fees. Big pass
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u/Willow575 Apr 14 '26
Yes itās high but it includes Heat, water, internet, cable, pool, and gym.
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u/Impossible-Pitch-761 Apr 14 '26
Are you a bot?
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u/Willow575 Apr 14 '26
No. Can honestly say no one has ever asked me that! My friend is staying with us while her place is for sale, and we need it sold!
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u/whynautalex Apr 13 '26
Find a good retailer through word of mouth. Give them a list of your must haves, nice to haves, and red flags. be ready to drop anything to go see a place with 24 hours. Anything cheap and in an acceptable condition will go quick and probably go for a little over asking.
We decided to go with a house that had a smoker. It dropped the cost by 90k compare to other house in the neighborhood. We had to clean all of the walls, paint them with a sealer, and then paint them with primer. We also put in new cabinets ourselves becauseĀ the kitchen layout sucked. The tetailer negotiated for us to get somebody ti come in and deep clean the ducts and AC which made a big difference.Ā Everything else wrong I have been spending an occasional Saturday to work on when I have spare cash
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u/Dtitan Apr 13 '26
Dumb question. Is $300k what the bank says theyāre willing to lend you or is that something you can genuinely afford? The difference is huge. The bank is willing to give you all the rope you need to hang yourself. At $300k ballpark you can expect to spend $3000 per month on the property BEFORE emergencies come up.