Still such a bad reason. Go live in Barrington or Naperville in an actual house for that money so your kids can attend good schools in elementary AND high school
Really just my own personal preference. I found naperville to be a great place to live, but too dense and sometimes the convenience of being 3 miles away from something would be thwarted by the insane traffic buildup. I’d rather be closer to the lake, closer to the north side of the city and find the people in BG to be a lot more friendly and welcoming than that of Naperville. I feel the same way about Barrington. I’d prefer to live in Barrington over Naperville any day, there’s just a little more breathing room. When it comes to schools, all three of these areas are exceptional, just comes down to what the family’s focus is.
I know more about BG than I do Niles, but from my few experiences in Naperville, yea it’s super condensed in comparison, though it is much closer to down town Chicago
I’m just talking about school districts - I live in a much more expensive house now but my first house that I bought with my wife was right in downtown Barrington for like 380. The same house currently goes for just under 500. It was obviously a smaller 2bd house, but still right in the middle of town with a yard and a garage.
Barrington and Naperville both have world class public k-8 programs which you can’t find in BG or really anywhere else in the suburbs of Chicago.
They don’t have a unified k-8 school district that encompasses the whole town or is managed by a unified superintendent. District 220 in Barrington is a unified k-12 district, which isn’t available in most towns, even with high property taxes.
There are individual schools that might be nice, but check how many k-12 districts from Illinois make the list
You think you're finding a decent house for that money in those areas?
Also, most people in the BG area want to stay in the North burbs and avoid going more west. 550k is what the townhomes in Vernon Hills and Libertyville are going for as well
Mundelein has a townhouse development on Townline by X Factor too. I’m waiting for X Factor to close because there’s no way that they’ll survive with that tiny parking lot and Sky Zone nearby. Scooter’s Coffee opened up in that same development too, so finally there’s coffee on that particular stretch of Townline.
I haven’t seen the inside of them. I drive past them all the time. Someone bought and is developing a plot of land behind Taco Bell and near the martial arts place. I’m curious how that will fit in the area.
How many Beds/Baths?
My wife and I have been looking and haven't found anything that had 3+ beds, 2+ baths, and didn't need 100k in repairs for under 500k that wasn't a townhouse
For the low low price of a million dollars you can live in the middle of fucking no where lol
Edit: enjoy a taste of the big city life with a day trip to st Charles haha
Okay, good for you? My comment was’t about whether it was better than Chicago, I would also prefer to live in any suburb besides the city. Have you driven through Geneva though? The joke is that the best thing in the area is just another unremarkable town with poor city planning.
Edit: big meteorology crowd
Honestly not even that nice at that price point too - but it should at least get you something (unless everyone is still coming in 10% over asking like keeps happening in Libertyville)
Prices have gone up rapidly since Covid. When I bought in the area in 2012 the prices had been going down for big houses since the financial crisis around 2008. After that the prices started to climb but very slowly. In 2012 for $550K you could get a good sized house on a 1-acre lot in the Stevenson district.
Right lucky for BG they can always fall back on Stevenson (at least the Lake county side) and maybe the Parks. Because there is nothing else. Perfect example is “The Clove.”
Jesus! I moved out to NWI years ago and had a 4500 sqft (including basement) built for $400k, on a 1/2 acre lot. Property taxes are less than $4k. I can get downtown Chicago faster than when I lived in the west burbs.
Some of us have zero desire to maintain a yard, shovel snow, or deal with the maintenance of a 40 y/o home. Moving to a newer townhouse has allowed me more free time & cash in those areas.
100% agree, my only issue with townhouses is they all seem to be so oversized. I’m in park ridge and most town homes are 100k-200k more than my single family house. Granted twice the size but doesn’t much matter if I don’t want that much house
> during the COVID years
Yeah, that doesn't apply then at all anymore. There were tons of great spots during the covid years. Those don't exist anymore
It’s the in house financing that’s appealing for us as first time home buyers.
Most will do whatever down to secure that days/ weeks price, and then by closing have a minimum of 3.5% down plus closing costs. Traditional banks etc to our knowledge don’t allow this.
Do I want to spend that much on a fn townhouse? Absolutely never?
A 75-100 year old home? With a little TLC, heck yes. But that’s becoming less and less of a reality for most of us.
Right now it’s because of the interest rates. Builders are giving tens of thousands of dollars to buy down interest rates while private sellers can’t match that.
Maybe not as nice but pretty decent. it’s all a tradeoff, right? I’d rather live in a nicer area than have a brand new townhome in a less desirable area.
Depends on if you can get a 3+ bed and 2+ bath at that cost. At least where my wife and I are looking, you're not getting that size anywhere near that cost
People shitting on this but tons of city families looking to move to the burbs, with new construction amenities, without maintenance in a A+ school district. Like why are you shocked? 550 is 400 in 2017 prices so yeah, it makes sense.
And they’ll sell very quickly.
I think that a lot of people shitting on this don’t realize how fast these will sell and just how crazy the market is right now. They probably all bought in 2021 or earlier
Village President Eric Smith agreed, asking the developer why he decided to sell instead of rent the attached townhomes.
“One of the key factors was price,” Projades Director Ram Prashanta said. “The math doesn’t work out with rentals.”
---
AKA we knew no one would pay the astronomical rent rate we'd try to charge because we're greedy in the year 2024, but they'll pay $550k to own a townhouse in the SHS district
Unfortunately new construction townhomes are priced out of the market for most first time buyers.
Roselle and Bloomingdale are priced similarly for new construction.
Housing market is due for another bubble burst.
There's no bubble to burst though. Inventory is low is all. 40%+ of homeowners have sub 4% rates. They ain't selling. What happens if rates go back down at some point? Inventory will go back up but it'll be competitive as hell still because of the number of people trying to buy them. Competition means higher prices. This whole thing is because of low inventory. That's not a bubble.
Yea the ‘07 bubble was due to foolish lending practices. This is just simply due to basic economics - high demand, low supply. The supply will not meet the current demand for at least 15 years.
I was thinking more about the resurrection of "no money down" mortgages and probably more ARMs being written.
Combined with insane prices for new construction, there will be a lot of people carrying mortgages they can't afford on over-valued properties.
$550k for a townhouse? Insane
Stevenson is why.
Still such a bad reason. Go live in Barrington or Naperville in an actual house for that money so your kids can attend good schools in elementary AND high school
having lived in buffalo grove and naperville, I’d share walls just to live in BG (new townhouses going for the same in those two areas, btw)
curious to say why you'd recommend buffalo grove instead of naperville?
Really just my own personal preference. I found naperville to be a great place to live, but too dense and sometimes the convenience of being 3 miles away from something would be thwarted by the insane traffic buildup. I’d rather be closer to the lake, closer to the north side of the city and find the people in BG to be a lot more friendly and welcoming than that of Naperville. I feel the same way about Barrington. I’d prefer to live in Barrington over Naperville any day, there’s just a little more breathing room. When it comes to schools, all three of these areas are exceptional, just comes down to what the family’s focus is.
I second this (as someone from the area…)
I know more about BG than I do Niles, but from my few experiences in Naperville, yea it’s super condensed in comparison, though it is much closer to down town Chicago
I’m just talking about school districts - I live in a much more expensive house now but my first house that I bought with my wife was right in downtown Barrington for like 380. The same house currently goes for just under 500. It was obviously a smaller 2bd house, but still right in the middle of town with a yard and a garage. Barrington and Naperville both have world class public k-8 programs which you can’t find in BG or really anywhere else in the suburbs of Chicago.
Hinsdale?
Hinsdale is a super high cost of living area but take a look at their non high school district ranking. Not good
Source? Just looked at one public middle school and it’s ranked 17th in the entire state and one elementary that is 9th in the entire state.
They don’t have a unified k-8 school district that encompasses the whole town or is managed by a unified superintendent. District 220 in Barrington is a unified k-12 district, which isn’t available in most towns, even with high property taxes. There are individual schools that might be nice, but check how many k-12 districts from Illinois make the list
District 181?
North Shore: lol
Tell that to all my clients in lake bluff who would absolutely NEVER send their kids to the public elementary schools in the area
lol sure if you’re talking lake bluff and not Glenview, Glencoe, Winnetka, Wilmette, Kenilworth, Northbrook…
Nope I just mentioned the school district with the highest taxes in that area, those other places are objectively worse
Lol you are getting downvoted left right and center on this thread but you know what, sure. If you say so 👍🏼
You think you're finding a decent house for that money in those areas? Also, most people in the BG area want to stay in the North burbs and avoid going more west. 550k is what the townhomes in Vernon Hills and Libertyville are going for as well
Mundelein has a townhouse development on Townline by X Factor too. I’m waiting for X Factor to close because there’s no way that they’ll survive with that tiny parking lot and Sky Zone nearby. Scooter’s Coffee opened up in that same development too, so finally there’s coffee on that particular stretch of Townline.
Ah we were thinking of looking into those ones as well - Have you seen them?
I haven’t seen the inside of them. I drive past them all the time. Someone bought and is developing a plot of land behind Taco Bell and near the martial arts place. I’m curious how that will fit in the area.
I recently sold a starter home in Barrington for 485
How many Beds/Baths? My wife and I have been looking and haven't found anything that had 3+ beds, 2+ baths, and didn't need 100k in repairs for under 500k that wasn't a townhouse
Saw a couple go up in Geneva for $1M
For the low low price of a million dollars you can live in the middle of fucking no where lol Edit: enjoy a taste of the big city life with a day trip to st Charles haha
St Charles has their own $1M downtown condos and townhomes too. The one with the murder might be cheaper
id rather live in St. Charles than Chicago
Okay, good for you? My comment was’t about whether it was better than Chicago, I would also prefer to live in any suburb besides the city. Have you driven through Geneva though? The joke is that the best thing in the area is just another unremarkable town with poor city planning. Edit: big meteorology crowd
I love the tri-cities and with how often they are recommended on this sub, I think a lot of people do too
You must never have spent time in downtown Geneva or st Charles.
Just say you've never been to the tri-cities and move on
“Weather”
Downtown St. Charles is actually awesome, wtf are you talking about?
With an option of your own personal backyard !!! 100% agree
Totally, 550 still buys a decent house in some really nice areas.
When you’re shopping for good school districts, $500k is the very starting end of nice 3b/2ba.
Honestly not even that nice at that price point too - but it should at least get you something (unless everyone is still coming in 10% over asking like keeps happening in Libertyville)
Yup. That’s how it is in the western burbs too
Prices have gone up rapidly since Covid. When I bought in the area in 2012 the prices had been going down for big houses since the financial crisis around 2008. After that the prices started to climb but very slowly. In 2012 for $550K you could get a good sized house on a 1-acre lot in the Stevenson district.
Right lucky for BG they can always fall back on Stevenson (at least the Lake county side) and maybe the Parks. Because there is nothing else. Perfect example is “The Clove.”
yep. its ridiculous.
Pretty par for the course in the city unfortunately
You should see the townhouses they have at fucking Lake Zurich, they’re like fucking 700k 😭😭
Jesus! I moved out to NWI years ago and had a 4500 sqft (including basement) built for $400k, on a 1/2 acre lot. Property taxes are less than $4k. I can get downtown Chicago faster than when I lived in the west burbs.
People that would rather live in a new construction townhouse rather than a 40 year old single family home baffle me.
Some of us have zero desire to maintain a yard, shovel snow, or deal with the maintenance of a 40 y/o home. Moving to a newer townhouse has allowed me more free time & cash in those areas.
100% agree, my only issue with townhouses is they all seem to be so oversized. I’m in park ridge and most town homes are 100k-200k more than my single family house. Granted twice the size but doesn’t much matter if I don’t want that much house
All the fucking stairs. Up and down down and up. I’ve rented in one and fell a few times pissing at night.
some people don't want to deal with the maintenance; I can respect that.
Where are you finding 40-year old SFH's that have 3+ bedrooms and 2+ bathrooms for this cost that also have a good location and schools?
The year 2010.
Many places pre-2020
True. The prices between 2010 and 2020 did not change much. Covid reminded people they like suburbs.
Covid also reminded corporations they can take advantage of people very easily
Mount Prospect
Well compared to BG, Mount Prospect is in a much different location and has way worse schools
lol what? They’re 7 miles apart center to center.
Once you move to a different highway to get downtown, you're in a different area.
North Hoffman Estates.
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> during the COVID years Yeah, that doesn't apply then at all anymore. There were tons of great spots during the covid years. Those don't exist anymore
Do a search in buffalo grove right now. There are a bunch.
The older I get. The less I want a yard
It’s the in house financing that’s appealing for us as first time home buyers. Most will do whatever down to secure that days/ weeks price, and then by closing have a minimum of 3.5% down plus closing costs. Traditional banks etc to our knowledge don’t allow this. Do I want to spend that much on a fn townhouse? Absolutely never? A 75-100 year old home? With a little TLC, heck yes. But that’s becoming less and less of a reality for most of us.
Boomer generation looking to downsize and less maintenance. Townhomes will be getting more expensive.
And Xers now that they are getting their AARP cards.
You only need to be 18 to join AARP FYI and it's like $50 for the year. With AT&T alone, being an AAPR member saves me $120 a year.
Right now it’s because of the interest rates. Builders are giving tens of thousands of dollars to buy down interest rates while private sellers can’t match that.
Let’s not forget whatever the association dues are every month.
A modern new construction townhouse makes me less depressed compared to a 40 year old single family house
These builders are out of their fucking mind. I’d go 10min up the road to Northbrook for those prices.
If they sell are the builders still out of their minds?
That too. *Everyone has lost their fucking mind.
Are you going to find one for this price in Northbrook that's as nice?
Maybe not as nice but pretty decent. it’s all a tradeoff, right? I’d rather live in a nicer area than have a brand new townhome in a less desirable area.
Depends on if you can get a 3+ bed and 2+ bath at that cost. At least where my wife and I are looking, you're not getting that size anywhere near that cost
$550k in Northbrook will get you something considerably worse
People shitting on this but tons of city families looking to move to the burbs, with new construction amenities, without maintenance in a A+ school district. Like why are you shocked? 550 is 400 in 2017 prices so yeah, it makes sense. And they’ll sell very quickly.
I think that a lot of people shitting on this don’t realize how fast these will sell and just how crazy the market is right now. They probably all bought in 2021 or earlier
This. My townhome community is only 2-3 years old and the smaller, less built out models are easily getting 500k+ in District 204.
Too bad it's an eye sore for the rest of the neighborhood
Found the boomer!
100%! Lots of suburban flight
Village President Eric Smith agreed, asking the developer why he decided to sell instead of rent the attached townhomes. “One of the key factors was price,” Projades Director Ram Prashanta said. “The math doesn’t work out with rentals.” --- AKA we knew no one would pay the astronomical rent rate we'd try to charge because we're greedy in the year 2024, but they'll pay $550k to own a townhouse in the SHS district
For $500k you too can back up to the Metra tracks at Prairie and 22!
It’s so bad
Tell me more!
cookie cutter homes right next to each other made as cheaply as possible for half a million........
Unfortunately new construction townhomes are priced out of the market for most first time buyers. Roselle and Bloomingdale are priced similarly for new construction. Housing market is due for another bubble burst.
There's no bubble to burst though. Inventory is low is all. 40%+ of homeowners have sub 4% rates. They ain't selling. What happens if rates go back down at some point? Inventory will go back up but it'll be competitive as hell still because of the number of people trying to buy them. Competition means higher prices. This whole thing is because of low inventory. That's not a bubble.
Yea the ‘07 bubble was due to foolish lending practices. This is just simply due to basic economics - high demand, low supply. The supply will not meet the current demand for at least 15 years.
I was thinking more about the resurrection of "no money down" mortgages and probably more ARMs being written. Combined with insane prices for new construction, there will be a lot of people carrying mortgages they can't afford on over-valued properties.