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Planning on buying a new house, where to start?

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#1

Posted 10-14-2011, 01:40 PM

Sportsaholic

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Planning on buying a new house, where to start?

We are planning on buying a new house in northwest suburbs of Chicago. This will be our first house. I started looking for houses on www.redfin.com . I would like some recommendation from you guys about where to start and how to approach this whole buying process.

Thanks a lot!

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#2

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10-14-2011, 03:20 PM

vaultaddict L9: Master Member sinceJan 2010 Posts4,799 Reputation 814 Followers 0 + Give Rep	Best place to start is with 20% in your bank account first, minimum.
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#3

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10-14-2011, 04:39 PM

LordOfChaos

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Quote from vaultaddict

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:

Best place to start is with 20% in your bank account first, minimum.

Iagree

Figure out what you can afford after considering taxes and other crap (maintenance, HOA dues).

After that go to the bank. Make sure you can qualify for the type of loan you want.

THEN look at houses.

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#4

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10-14-2011, 04:43 PM

lickeals Permanently Banned Member sinceJun 2011 Posts425 Reputation 120 Followers 0 + Give Rep	I like this http://www.redfin.com/IL/Chicago/...e/13386894
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#5

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10-14-2011, 06:28 PM

Sportsaholic

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I like this

http://www.redfin.com/IL/Chicago/...e/13386894

lol I can't afford that much.

I just got my B.S. in Electrical Engineering and working full time. I can say that I have a good job. And I will have way more than 20% in my bank account. I have thought a lot about it and then decided that this is the time to buy a house.

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#6

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10-14-2011, 07:09 PM

timtim2008 L6: Expert Member sinceMay 2011 Posts1,073 Reputation 140 Followers 0 + Give Rep	there is tons of stuff in chicago for $20k cash
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#7

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10-14-2011, 10:33 PM

Superocean is offline

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Interview friends and others who have worked with a good real estate agent and begin working with an agent to find what you need and want and where it's located. Then study that market and look for a home that you'll like.

If you want to go browsing in areas without leaving the computer, try zillow's for sale, as they have home pics in and out with the description of sq ft and schools.

Good luck on the home search.

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#8

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10-15-2011, 10:52 AM

cavan L7: Teacher Member sinceJun 2011 Posts2,700 Reputation 371 + Give Rep	http://articles.chicagotribune.co...arkets-llc
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#9

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10-15-2011, 09:51 PM

Deusxmachina

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I am guessing my statement to run far away from Chicago and Cook County (and Illinois in general) will go unheeded, but I have to try.

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