Buying a home is a big deal. Whether it’s your first purchase or 10th, each transaction represents a significant financial and lifestyle decision. That said, it’s important not to overlook some of the smaller details that can often have a huge impact. Here are a few things I recommend every buyer should consider when going through the process of buying a home.
Shop around for mortgage rates.
This may not seem like a “small” thing – but the reality is that a lot of buyers get caught up in the excitement of getting pre-approved by the first lender they speak with that they forget they may not be getting the best rate. Given the uncertainty in the market, lenders have rates all over the place and offer a number of packages / programs that can still get your interest rates in the 4% range. A difference in a quarter to half a point in your loan can have a significant impact on your purchasing power and overall budget, so take the time to get the best value for you.
Check your phone signal and internet provider options.
Maybe it’s the millennial in me, but the idea of having bad Internet service gives me nightmares. Now that we’re in an age where working remotely from home has become viable for millions of people, making sure your home office can be equipped to handle the bandwidth needed is more important than ever. Plus, who likes when their Netflix stream gets caught on buffering?
Stop and listen.
When you’re going through the process of buying a home, the time you spend in the property itself is often accompanied by others – which through the commotion of it all can mask the sounds you’d hear on a daily basis if you were just sitting around the home on any normal day. In addition to learning about how creaky or noisy the house itself can be (which can offer clues as to the condition of the home or appliances), you want to pay attention to outdoor noise pollution as well. Can you hear the neighbors revving their car engine next door? Can you hear the train 2 blocks away that runs every two minutes? This is doubly important in condos, where noisy neighbors (upstairs or adjacent) can have a larger impact on your quality of life.
Consider traffic to and from work / school / places you frequent.
Your commute may seem close in theory, but be sure to check apps like Google Maps or Waze during rush hour times to make sure you’re not in for any surprises. Additionally, it’s wise to check these numbers throughout various parts of the day to get a better overall sense of the traffic (checking throughout various points in the day is also advisable for the previous point mentioned above).
Ask for current estimates of utility bills.
Not only will having these numbers help with your budget calculations, they also provide clues to whether or not problems exist. For instance, an exceptionally costly water bill may be indicative of leaks or damage in the homes piping. Additionally, higher electric or gas bills can point towards insulation problems or struggling appliances or furnaces. Don’t forget about those HOA fees!
Pull the records on the permits to the home.
This is important for a number of reasons. First, it gives you a history of when major repairs could have been completed. Things such as new roofs, new heating and cooling system installation, or any plumbing or electrical work done should theoretically have permits filed. Secondly, insurance companies often have rules against covering work completed without a permit. What this means is that if an electrical fire were to break out as the result of new wiring that was installed without a permit – the insurance company reject your claim for those repairs. Yikes!
![Prime Roscoe Village location corner lot with existing commercial construction all masonry 2 level building, a total of 7400 sqft finished living space (3700 above grade/3700 below grade). Built by Novak Construction, completed in 1993 as a meeting, office and recreational space, now converted to a residential type (work/living) space and currently rented to a single tenant who pays gas, electric, and for 8 car parking in the rear. This premium sunny corner property boasts 3 lots with 3 separate pin numbers [70' X 120'] measuring 8383.4 in total land SQFT. This site is ideal for a future development opportunity now offering three separate redevelopment options: 1) Adding an additional entire 2nd level to existing structure and converting to 3 huge 3700 sqft rental type units. 2) Tear down existing structure, develop 3 new SFH's on the 3 separate lots. 3) Redevelop as an all masonry 4-duplex unit 3-story new construction (38'-6" height allowance), as per plans included with the sale. The RT-3.5 Re-Zoning Amendment has been completed with an approved plan offering 4 new construction 2930 sqft condos, with a total of 11,718 sqft finished interior space including all variances and 6-car parking garage. SEE ADDITIOINAL DOCUMENTS FOR PLANS. The current building is rented as a live/work space, with 11 bedrooms, 4 large baths, long term terrific tenants on a month-to-month type lease, paying $8130/mo. Annual NOI: $65,639. Rent is set to increase to $8335/mo on 6/1/24.](https://s3.amazonaws.com/mlsphotos.idxbroker.com/photos/585a/a58587417f5af70823221333b0bb5d94/c019 "2156 W Wellington Avenue Chicago, Illinois")
![[NOTE: HIGHEST-AND-BEST OFFERS DUE BY SUNDAY 4/14 AT 6PM. NO ESCALATION CLAUSES. IDEAL CLOSING DATE IS MAY 20TH. WE CAN ACCOMODATE SHOWINGS SUNDAY FROM 8AM TO 5PM AND WILL BE OPEN ON SUNDAY FROM 11:00 - 1:00] Spectacular better-than-new construction on an extra-long (25 x 140) lot on one of Lincoln Park's most charming tree-lined streets. Welcome to 2761 N. Kenmore - a brick and limestone building built by critically acclaimed Platinum Homes in 2021. This is not your cookie cutter layout as this middle floor simplex comes with massive outdoor areas! Enter the home and you'll immediately notice meticulous attention to detail, impeccable craftsmanship and timeless finishes. Beautiful 6-inch-wide white oak floors and oversized crown molding adorn this 3 bedroom 2 bath condo throughout. The heart of this home is a massive kitchen, great room and dining room that seamlessly connects to a phenomenal covered outdoor patio. The kitchen features custom cabinetry all the way to the ceiling with lighted glass display cases and undercabinet lighting. Also featured are a Sub-Zero refrigerator, Wolf stove, Bosch dishwasher and quartz countertops with a large peninsula and waterfall edge. The layout allows for a generously sized dining room table adjacent to the kitchen - perfect for day-to-day meals as well as formal entertaining. The great room is anchored by a fabulous fireplace with oversized porcelain tile surround - perfect for a wall mounted TV - and has been updated with additional credenza-style cabinets and matching quartz countertop, making for an abundance of storage, functional counter space and gallery wall for art. The entire east wall of the space is comprised of floor-to-ceiling glass windows that overlook this home's own 20 x 13 covered terrace complete with porcelain tile flooring, gas fireplace and grilling area. Continue through the home where you will find a large pantry, two generously sized bedrooms and hall bath outfitted with penny-tile flooring and oversized porcelain tub and shower surround. With massive windows overlooking the tree tops of Kenmore avenue, the primary suite is an oasis of serenity. Featuring a large walk-in closet with natural light and spa bathroom with dual vanities, radiant heated floors, and a glass-enclosed shower with rain head, handheld, steam shower and body sprays. Perhaps the best feature of this home is that it comes with the garage top deck! (usually reserved for the duplex-down). This deck has been updated by this owner and features 24" x 24" porcelain tile flooring, a steel pergola structure with both a fully covered section and partially covered section, composite screening, faux boxwood wall, swings, TV mounting / electrical, gate and 144 sq ft of artificial turf. Other updates of the home include Nest thermostat, dimmers, and custom blinds. The home comes with 1 garage parking space. Located near Diversey Brown Line, Lincoln Park Athletic Club, DePaul, Whole Foods, Starbucks, Jonquil Park, Wiggly Field Dog Park, and many great shops, bars, and restaurants.](https://s3.amazonaws.com/mlsphotos.idxbroker.com/photos/b6ad/da6bf9f81a7cbab4e72927b7a8ff712f/c019 "2761 N Kenmore Avenue 2 Chicago, Illinois")
![Rarely available two bed, two bath northeast corner unit at Newberry Plaza. Breathtaking lake and city views from every room - the perfect backdrop for city living and entertaining! Custom features and high-end appointments enhance this beautiful property - hardwood floors, chef's kitchen, marble bath, custom window treatments, and in-unit washer and dryer. Chef's kitchen can be accessed from the foyer or main living area and has high-end stainless steel appliances, custom Shaker style cabinetry with soft-close doors/drawers, glass subway tile backsplash, 1" granite countertops and granite island with storage and seating for 3. The enclosed east-facing balcony with unobstructed views is just off the kitchen. Primary en suite bedroom has hardwood floors, custom blackout shades, a large walk-in closet with built-ins, granite walk-in shower with seat, and ample room for a sitting area. Second bedroom has hardwood floors, custom blackout window treatments and closet. Second bath has a soaking tub, marble floor and tub surround, custom vanity with lots of storage, and additional storage for linens. Separate laundry closet with stackable Bosch appliances are near the second bedroom. Full amenity, service-oriented building offers 24 hour doormen, on-site management, and full-time maintenance staff. Additional amenities include outdoor pool with sundeck, exercise and multi-purpose rooms, receiving room, service elevator, and additional storage [on same floor as unit]. Garage parking is available for residents and guests at attached garage. Steps away from restaurants, shopping, entertainment, and more. City living at its best!](https://s3.amazonaws.com/mlsphotos.idxbroker.com/photos/2b6b/b6b2090ef8c308c499780655c5c6f9f7/c019 "1030 N State Street 11E Chicago, Illinois")
