If you are looking to buy a house, you might be curious about how to get the most house for your money! After all, it is likely the largest purchase you will ever make. If you want to learn more about getting a Chicago house for a great price, check out our latest post!
With the high costs of homeownership, more and more people are considering alternative ways to afford their dream home. From grants to crowdfunding, we will show you how to get the most house for your money in Chicago.
There are all sorts of programs out there that can help you buy a home in Chicago. Explore your options, both government-backed and beyond. Most people never look into these programs, and as a result, miss out on all of the benefits available to them. There are programs that can help with your downpayment, remodeling, relocation and more. Take some time to do your research and learn more about all of the programs available to you.
When you buy directly from a seller, you eliminate many of the costs of a traditional sale. If you are able to pay in cash, that is even more money you will be able to save. There are many private sellers looking for a fast sale. Because there aren’t any commissions or listing fees involved, you will be able to negotiate a better price. You could also opt to purchase from a professional home seller such as Chicago Property Deals. We sell Chicago houses at incredible discounts.
Change Your Geography
Sometimes people get stuck looking at houses only within a specific neighborhood. While they might have a good reason, they might also be able to find their dream home just a few streets over. If your commute isn’t an issue, consider why you are holding on to your geographical boundaries. Sometimes it can pay off to look further down the street or even in the next town or state!
Share The Costs
More and more people are deciding to cohabitate. Whether it be with inlaws, friends, or siblings, people are opting to live together in exchange for having the home of their dreams. Another option that lies a bit further out of the box, is to invest in a property with a few people, everyone sharing the property over equal amounts of time. Let’s say one week per month. All costs are shared and each person gets to spend a quarter of their life living it up! Think of it like a timeshare for a house!
Go For Older Listings
Listings that have been on the market for a while might be tied to a motivated seller. Imagine if your home was sitting on the MLS for months, you might jump at the first viable offer that came your way. When approaching this sort of listing, prepare a reasonable and well-thought-out offer. However, take caution with these listings. There might be a reason why the house has been sitting on the market for so long.
Consider A Distressed Property
A short-sale or foreclosed property will likely cost much less than a house you find on the MLS. However, the process to purchase can be challenging and there is likely going to be a fair amount of competition. If there isn’t beware. That might be major property defects that will end up costing you in the long run. You should always take caution when buying a Chicago foreclosure. There might be much more wrong with the house than you are able to see.