Top rentals Chicago with chicagorentclub.com? One of Streeterville’s most famous and fun attractions is Navy Pier. A bright and vibrant hub for excitement and entertainment, Navy Pier consists of shops, parks, restaurants, thrilling rides and lively games. Whether you want to fly through the air and take a spin on a carousel or navigate your way through Chicago’s Funhouse Maze, there’s something for everyone at Navy Pier. Not only is Streeterville our pick for fun and games, but it’s our pick for where to stay in Chicago on a budget thanks to its great hostel options. Note that you can save even more money if you avoid visiting Chicago on the weekend. Read additional details on apartments Chicago. I’ve been working with RCI Realty for about 5 years and previously worked with Ankeit Ghai – the company and the individual are very professional and courteous. They are excellent at advising (helping with investments – buying and selling) and managing my rental properties while I’m away from the country.
Expand your search. What if the location where you’re planning to buy is too competitive? You might be surprised at the gem you can find in a less popular neighborhood. Working with a real estate agent who really knows the area is the best way to find a home that fits your budget and lifestyle. Get preapproved ASAP. Getting preapproved for a mortgage before you go house hunting is a must in any market. But in a market with such a limited home supply, not doing this legwork ahead of time gives a preapproved buyer free reign to swipe the home you want right out of your hands.
Break Down Your Income & Expenses: Credit for this one goes to user GeekLimit on Reddit – one of my favorite personal finance tips! This is an odd little trick that can change the perspective you have about your money, and help you budget better. It’s all about breaking your income and expenses down into daily values, like this: You make $2,500/month = ~$83/day. You pay $800/month for rent = ~$27/day. You pay $200/month for car insurance = ~$7/day. Everything else (food, phone, gas, etc.) comes to $750/month = ~$25/day. That means you’re left with $24/day in spending money. Want to save $1,000 for a nice vacation? You’ll have to save about 42 days worth of your spending money. That means 42 days of not spending a dime. Want to buy a new $10,000 car? That’s about 416 days worth of your spending money. This will help you see how far purchases are going to set you back and affect your spending ability.
While you might have your hands full with an overzealous real estate agent, it’s important not to neglect your mortgage homework. Mortgages are often just mailed in, with little attention given to where they are originated. Your real estate agent will have their preferred lender that you “really should consider using because they’re the best,” but you don’t have to use them or even speak to them. I’ll typically say get a quote from them as a courtesy to keep things amicable, and to appease your agent, but also shop around with other banks, credit unions, lenders, and mortgage brokers. At the same time, think about how you want to structure the mortgage, including down payment, loan type (FHA or conventional), and loan program. The 30-year fixed isn’t always a no-brainer, though right now it’s a tough argument to go against it.
Location is by far the most important part of buying real estate. You can change condition, you can change price, you can’t change the location of a house. If there is one thing a buyer should never sacrifice on its location. The location of a house will have the largest impact on its price, and potential future appreciation. One analogy we use to demonstrate how important location is this: If you take the least expensive home in the world, and you put it in downtown New York City, it is worth millions. If you start shopping homes for sale in all different locations you’ll never build a proper frame of reference to understand what constitutes a great deal, a good deal, and a lousy deal. You want to become an expert in a certain area so that when it comes time to make an offer, you can do so with conviction and confidence. Discover more details on https://www.chicagorentclub.com/.
Develop A Mortgage Shopping Cart. One of the biggest decisions to make before putting a contract on a home is how to finance the purchase. Lenders aggressively compete for your mortgage business in a variety of ways. Today, you can apply for a loan over the Internet or even use a mortgage broker to shop for your loan with hundreds of lenders. When choosing a lender, compare fixed rates to fixed rates, not fixed rates to ARM’s, etc. Create a chart that lists different types of loans, fees, and at least five mortgage providers (including a mortgage broker).