Originally Posted by pitbull76
Thanks for the advice Ken. Why would you recommend new? And which subdivisions? The area where you are at near caton farm is actually one of the areas we were considering.
I recommend it as I do any investment, the short term "under a few years" is very nice, in the last 4 years of being here I have earned 60k on my investment and I have done nothing to the house other then landscaping the front. "the initial upgrades I did in the house were mostly additions that yield a higher resale" 9foot ceiling in basement, and 1st floor, cathedral and vaulted ceilings, master bedroom retreat with fire place brick front etc.
Not hard wood floors, although 90% of the 1st floor is hard wood, this doesn’t yield a higher resale price, it yields and higher interest in beneficial upgrades to help close a deal when you sale. Most of all I did what I did in the house for my enjoyment as well as the resale. Finishing a full basement in 9foot ceilings will add another 25k when I am done. But anyway, that’s why I suggest buying new versus buying a marked up home.
Right now it’s a buyers market in Plainfield then a sellers market, there is allot of homes to choose from right now because people made some money and wish to repeat in another home. BUT the fact is Plainfield west side is building still at a fast rate when there is new homes being built 1 mile away that hurts the sellers market unless they need a home NOW! Which there is plenty of those types of people to fill the need
If you have family you can stay with for a bit while a new home is being built, I suggest doing it.
Where to move too?
there is a perfect location opening right now across the street from me "aspin falls and clear water springs community" its right before county line rd on caton farm road.
The kick ass thing about that’s you have neighboring sub divisions on both sides = less waiting time to gain more equity in the home.
From what else I am seeing built is homes down near black and county line rd. I would stay away from there to wide open not enough higher homes or business to have a steady weather environment, its pretty windy back there.
If you go across county line rd into Kane County, they are building some nice sub divisions also but then again, over there it’s WIDE the fuck open.
And you will be waiting a LONG time to get some equity because there is almost nothing out there, and won’t be for YEARS.
now if you go on the other side of me around they are building a 250 acre water park community, the homes are nice and very good looking construction, solid building, ive been looking into buying property there since its virgin land still, they have the water park about done and re did the infrastructure around the community to handle the load.
1 down side of is there is a mildly active train that goes right through it, I hardly ever hear a train from my house to there but I don’t know how it would sound over there. Once again those tracks are barely used; the last 4 years of being here I have only seen a train go through there maybe 4 times.
But also, that area is not for me with even knowing there is a train that near by.
So my real estate common sense is to buy right across from me if building a new home.
If buying used, try getting a recently new home, hopefully bricked if not front bricked.
you need to purchase a good sized family home for now and the future, once the dust settles around here the amount of families and shopping it will be Orland park all over again filled with middle/upper end incomes, and when that does ill move again, like I did from Orland park.
Tax rates are still cheap, not too many more schools to be built in this area, and being part of the Joliet district you get discounts off the water and sewage.
Hope this helps.
Now get a realtor or go shopping for a new construction home.
Congrats on the lil one on the way.