5 Questions First-Time Buyers on Chicago's North Shore Should Ask Themselves

Buying a home for the first time on Chicago's North Shore is exciting, especially knowing you could be saving money when you're no longer renting. But before you jump into the local real estate market, there are a few questions you will need to ask yourself to be sure this is the right time for you to purchase a home in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook and the surrounding areas.

Did I just change jobs?
If you've just experienced a job change, it could take longer to be approved for a mortgage through your local lender. Lenders typically like to see a solid employment history of at least two years and will want to see your tax returns and pay stubs as proof of income. But don't worry if you don't meet this requirement, it is not exactly a deal breaker! There are still ways to go about applying for a mortgage during a job transition, just speak to your lender.

Do I have a down payment?
Buying a home on Chicago's North Shore commonly entails putting 20 percent down. However, if you do not have this down payment ready and waiting, you can opt for a lower percentage. A lower down payment will require private mortgage insurance which will add to your overall monthly payment, but allows you to get around the standard 20 percent.

Am I ready for maintenance?
If you're purchase a single family home on the North Shore, maintenance will fall into your hands. Ask yourself if you're ready to take on yard upkeep and repairs like cleaning gutters or fixing leaky faucets. These often come with their own set of costs, so be prepared!

Am I familiar with closing costs?
Did you know most first-time buyers are not aware of closing costs? These include title, insurance, mortgage processing fees, and the like. Ask your lender what closing costs will run with your particular loan product to get an idea of how much you will be expected to pay at the closing table.

Is buying a better option than renting?
In today's market, buying a home is indeed a better investment than renting simply due to rising costs alone. But you will want to run the number to make sure your purchase will make sense in your overall payment. You can use a mortgage calculator to enter in expenses and come up with the number you could be paying each month. Doing the math is always wise before buying!

As your real estate agent on the North Shore, you can count on me to help you prepare to make a home purchase. Give me a call today for a list of available properties in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook and the surrounding areas!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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Making the Transition from Renter to North Shore Homeowner

September does not only signal a change in seasons, but a shift for many renters who will soon become homeowners. Fall is an opportune time to buy a home on Chicago's North Shore and if you are currently renting, you might be mulling over whether or not you are ready.

As your local real estate expert, I understand that buying a home for the first time can feel overwhelming, but by asking yourself a few important questions, you can ensure you are making the best decision.

Do you understand the costs of homeownership?
You may have played around with a mortgage calculator to determine how much you can afford on the North Shore, but there are more costs involved aside from your monthly payment. In fact, this is one of the biggest surprises to first-time buyers and can leave them feeling remorseful. It is important to research your potential mortgage payment, but also look into costs like property taxes, homeowner's insurance, HOA fees, closing costs and yearly maintenance and upkeep. It pays to know exactly what you're getting into before you sign on the dotted line, so take your time researching!

Do you know the tax benefits?
As you are researching the costs of homeownership, look into the tax benefits. You will be pleased to learn that mortgage interest and property taxes are deductible on your tax returns, which will in turn lower the ultimate cost of owning a home.

Do you know which mortgage fits you best?
Not all mortgages are the same— in fact, there are many choices, from the common 30-year-fixed-rate to the 5-year-adjustable-rate and beyond. Take some time to identify the pros and cons of each mortgage type so you can find the loan that makes sense for your financial situation. For instance, there are loans that allow for a smaller down payment, but have a higher interest rate and vice versa.

Do you have a down payment?
The down payment is an important part of the home buying process, but it is not always required. There are loan types, like a VA loan, that allow for zero money down and others that allow for as little as three percent down. If you have a larger down payment to work with, your monthly mortgage payment will ultimately be lower, but don't panic if you don't have too much saved.

Do you know your credit score?
Your credit score will be referenced by your lender to determine your eligibility for a loan, as well as certain loan types. Now is the time to look into your score and clear up any errors that you find. If possible, try to boost your score prior to buying a home by paying down any outstanding debt and eliminating extraneous spending on credit cards.

Ready to start your home search in Northbrook, Deerfield, Highland Park, Glencoe, Winnetka and the surrounding areas? Give me a call today!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Do's and Don'ts for First-time Homebuyers on Chicago's North Shore

When December rolls around, many North Shore residents begin thinking about the new year and what it will have in store. For instance, are you starting a new job? Will you move to a new home or community? Of course, these are all important milestones, but if buying a home for the first time is on your list of new year to do's, it's time to start planning ahead!

First-time homebuyer mistakes are quite common, but can easily be avoided with a bit of early research and preparation. Consider the following your Guidebook to Do's and Don't of Buying a Home on the North Shore:

Do— Work with a real estate agent
There are many complex decisions and negotiating with different parties involved with buying a home and if you haven't done so before, it can feel overwhelming. The right real estate agent can be invaluable to you as you navigate this journey, helping with everything from finding the best home to recommending a lender to explaining closing costs.

Do— Think long term about your home
As you tour homes on the North Shore, keep the long term in mind. The school districts or proximity to parks may not be important to you if you don't have children, but the number of bedrooms will affect your resale value. Think about how easily you could sell the home if you needed to move or how changing the home to suit your needs might affect resale.

Don't— Make a decision based on emotions
Buying a home is a big step for a North Shore resident or those relocating to the area, but it is one that should be made with a clear mind. Don't allow yourself to form emotional attachments to a property or its details prior to the purchase as this could keep you from making a smart financial decision.

Don't— Overlook the cost of improvements
As I mentioned above, it's always wise to keep resale in mind when you purchase a home. You'll also want to factor in the costs of making the home suit your needs or style— home improvement projects, for example. Buying a fixer upper home could likely cost more and take longer to finish than expected, so be sure you have the budget before you make the purchase.

As your real estate expert in Winnetka, Deerfield, Highland Park, Glencoe, Northbrook and the surrounding communities, I'm here to help with your first home purchase! Give me a call today with any questions you might have about the real estate market for the coming year!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Important Things to Do After Closing on Your New North Shore Home

After your home closing on Chicago's North Shore, you may be eager to settle in, put your feet up and simply enjoy the new property. But not so fast! There are a few important projects to handle before you can truly relax and some even before you move in!

Here is a list of things to do once you have the keys to your new home on the North Shore:

Plan your work ahead of time
If you have renovation plans in your head, it's time to put them to work! Don't wait until after closing to start coordinating with a painter or contractor. You can begin getting bids for work during your final walk-through or at a special appointment after all contingencies have been removed. And if you need a referral, do not hesitate to ask!

Set up utilities
Waiting until your moving day to think about utility set up can be a big mistake— don't assume everything will be turned on when you arrive with your moving truck! Many utility companies have a grace period from when a homeowner cancels and the new owner calls, but that isn't always the case. The best course of action is to call and set up utilities well in advance of closing.

Change the locks
It's best to assume everyone has a key to your new home, so it's time to change the locks! Real estate agents, neighbors, maintenance or cleaning crews could all have keys and you'll sleep better at night knowing you've taken this security precaution.

Hire a cleaning crew
Showing up on moving day only to find the home has yet to be cleaned can be a homeowner headache. Start with a clean slate and allow a cleaning crew to start scrubbing the minute after you close. The bonus is that you'll be able to arrange furniture without having to mop the floors first.

You can consider me your go-to resource for all things North Shore real estate, from how to prepare to sell your home to finding the perfect property in Northbrook, Glencoe, Deerfield, Winnetka, Highland Park and beyond!

Feel free to reach out with any questions you may have about buying or selling a home on Chicago's North Shore! I'm here to help!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

How to Make Your North Shore House Feel Like Home

You've just bought a home on Chicago's North Shore and you're looking forward to packing up and settling into a new property, perhaps a new neighborhood. These new beginnings are exciting, but sometimes it can take a while before the house truly feels like your own.

The following five tips can help new homeowners usher out the old and start fresh in a North Shore home— it all starts with creating a welcoming feel!

Give the home a deep cleaning
Before you start settling in and arranging your furniture, take the time to give every room a deep cleaning. Cleaning from top to bottom—wiping down all windows, removing any odors that could be stuck in carpeting and even freshening the garbage disposals by adding citrus peel—is the best course of action. Starting fresh means starting with a clean slate.

Clear the walkways
Giving your North Shore home that welcoming feeling begins with the front door. Clear the walkways to the door and remove any obstacles that may be blocking a clear view of the front of the home. Once this has been done, you can then add landscaping or topiaries to either side of the entry.

Add plants
You may have created a welcoming entryway with beautiful flower boxes or landscaping, but what about the rest of the home? Carry over that aesthetic by bringing in plants like a rubber plant that is said to be the best for removing air pollutants inside the home.

Add signs of abundance
Think of those things that make you happy— flowers, bowls of fruit, bright pops of color. Fresh flowers can bring in feelings of abundance which can make your new North Shore home feel inviting and prosperous. Just make sure you're watering your flowers! You don't want signs of decay to offset those signs of abundance.

Think deeply about each space
Spend some time sitting in each room of your home in Glencoe, Deerfield, Winnetka, Northbrook and  Highland Park. What do you want each space to feel like, smell like, sound like? Set an intention for each room and then bring in the colors, furniture and accents that contribute to that specific vibe.

As your North Shore real estate expert, I am here to help you find your dream home! From scouting for the best neighborhood to deciding on must-have home features, I will be your guide. Contact me today!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

5 Common North Shore Home Buyer Questions

With over 25 years of experience in North Shore real estate, I have encountered many home buyers.  So often North Shore home buyers have many questions regarding the process, especially first time buyers.  It’s always a good idea to educate yourself as much as you can when making a major life purchase, a home or otherwise.  I make it a priority to keep my clients informed at each step of buying their North Shore homes.  If you are considering the purchase of a home on Chicago’s North Shore, here are 5 questions that may be weighing on your mind.

What can afford?  Most lenders prefer that your mortgage payment, including interest, taxes and insurance, is no more than 28% of your gross monthly household income.  Think beyond just your mortgage payment though.  You also must have money for a downpayment and closing costs on hand, which can be as much as 25% of the purchase price of the home and in some situations even more.  Also take homeowner's association dues, maintenance, and utilities into account when determining your monthly housing budget.

Should I get pre-approved?  There are a few good reasons to get a mortgage pre-approval.  First, a pre-approval will allow you to establish a price range, also giving you an idea of how much you will need as a downpayment.  Second, it will make you more appealing a seller when you're ready to make an offer.  Since the seller will know that you are actually able to purchase the home, you will have the upper hand compared to a buyer without a pre-approval.  Finally, it will streamline the buying process by giving you the opportunity to resolve any issues that may arise during the approval process, preventing any holdups in the closing process.

How long does buying a take?  Obviously the time it takes a buyer to find a home varies depending on exactly what the buyer is looking for. With regard to the closing process, it will usually take a month to a month and a half.  Getting pre-approved is a great way to speed up the closing process.

What should I expect to pay in closing costs? Closing costs are usually in the neighborhood of 3% of the purchase price of the home but can vary from one buyer to the next for a variety of reasons.  A day before your closing you will be able to review your HUD-1 Settlement Statement which specifies all of the fees that make up your closing costs,  You will want to review the document for accuracy, and be sure to ask for clarification on anything that you don't understand.

Should I work with a buyer’s agent?  Having an agent on your side while going through the home buying process can alleviate much of the stress that can come along with it.  A buyer’s agent can handle most of your home search for you, supplying you with a list of homes that meet your needs and scheduling showings for you.  A buyer’s agent will also handle negotiations for you, if you would like him or her to do so.  Plus, a buyer's agent works at no cost to the buyer. 

I realize that these are probably only a few of the many questions that you may have, and you will probably have even more once you actually begin searching for your North Shore home.  Please contact me if you are interested in partnering with an experienced North Shore realtor to start your search.  I’m happy to answer all of your questions and will help you to find the perfect home on Chicago’s North Shore.  

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States

Tips for a Smooth and Efficient Home Buying Process on the North Shore!

A few weeks ago, I talked about the spring North Shore Real Estate market and gave some tips for navigating the home buying or selling process.  Today, I wanted to hone in on ways to ensure the home buying experience is as seamless and efficient as possible.

As you know, the spring market is teaming with activity and you’ll want to be prepared to move on a home before another buyer snatches it up.  If you’re hoping to find and be settled into your new North Shore home before the gorgeous summer season begins, here are a few key tips for making it happen.

1.  Start Your Search Online- Instead of spending your time searching for open houses or for sale signs, get online to streamline your search.  There are many great homes in the North Shore which you can view on my North Shore website! 

2.  Get Pre-Approved- Finding the home of your dreams and then shopping for a loan is a risky move, as most home sellers won’t even look at an offer that’s not accompanied by a pre-approval letter.  Getting pre-approved ensures you know your exact budget and can save you from a bidding war if many are vying for the same home.

3.  Prioritize Your Housing Needs- Finding a home fast means being flexible.  The longer the list of requirements, the harder it will be to find a home.  Keep your list short and to the point.  Focus on the key elements you’re looking for and let the extras fall as they may.

4.  Find a Great Agent- This may seem easy, but finding an agent that truly knows the North Shore Real Estate market and can show you properties that are right in your price range and meet your style and needs can be challenging.  Of course, I’d love to help you in your home search and know that my experience and proven success will make the home buying process an easy one.  Bottom line?  Do your homework and really research local North Shore Real Estate agents.  

5.  Negotiate Repairs- If an inspection reveals that the home you want to buy requires repairs, taking the responsibility off the seller can help you close the deal quicker. After obtaining estimates, ask the seller for a credit rather than asking them to complete the repairs themselves.

6.  Have Cash Ready for Closing- You don’t want to be scrambling for funds at the last minute, so be prepared for this important date. A day or two before closing on your North Shore home, you’ll get the final settlement statement, detailing the terms of your loan and all the closing costs. 

7.  Have a Plan B- Because not every transaction goes smoothly, be sure you have a property or two as a backup; you don’t want to have to start from scratch!

As a North Shore Real Estate agent, I understand that the entire home buying process can seem overwhelming at first, but these tips should help the process feel more manageable and create a streamlined approach. 

I’m always here to answer any questions you have concerning buying a home or living on the North Shore.  From finding your dream home to signing the contract; I’ll be with you each step of the way!

Contact me today to get started! 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!
Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States.

10 Tips for First Time Home Buyers in Chicago's North Shore!

Chicago’s North Shore is a great area to settle in and call home. Beautiful homes, quaint neighborhoods, and vibrant communities create a welcoming environment and draw many to look for homes in these cities along the shore. Whether you choose to settle in Winnetka, Glencoe, Highland Park, Deerfield or Northbrook; you’ll find that each area offers a unique atmosphere and excellent quality of life.

If you’re a first time home buyer and are excited to begin your home search in Chicago’s North Shore; there are ten tips that will make the home buying process as smooth and stress free as possible!

1. Check Your Credit Score- Lenders will put a lot of weight on your credit score, so you want to make sure to have your credit in order. They will determine how much you qualify for in a mortgage based heavily on your credit.

2. Set Your Housing Budget- Have a clear understanding of your budget each month, and do not spend more than 30% of your gross monthly income on your North Shore home. This includes your interest, principal, homeowners insurance and taxes. You don’t want to put yourself in a financial bind that you are constantly struggling to maintain each month.

3. Start Saving and Stop Spending- Begin to save the difference between your monthly rent now and what you plan on your monthly mortgage being. This will prepare you for what the monthly payments will look like once you move into your home and help you make any needed lifestyle adjustments now.

4. Meet with a Lender- It is easy to want to begin searching online for your North Shore home, but without a sense of how much you qualify for; it’s easy to waste time looking at homes you might not be able to afford. Meet with a lender before you begin looking at homes and get pre-qualified. You’ll be able to search more effectively online and when you begin working with a North Shore Real Estate agent to find a home.

5. Find a Reputable North Shore Real Estate Agent- You’ll want to find a real estate agent who has experience in Chicago’s North Shore Real Estate market. A North Shore Real Estate agent who has years of experience in the area will be a great asset in helping you find a neighborhood and home that best fits your needs and lifestyle.

6. Narrow Your Priorities- You’ll want to make two separate lists based on your needs and wants. Your needs should be those things you absolutely need in your North Shore home. Your wants will be those items that you would prefer, but are willing to compromise on. Narrowing down and sorting out your needs and wants will help immensely when searching for a home. You’ll have a clear picture on what you are willing to compromise on, since you will most likely not find a home that has absolutely everything you would like. Know when to give and when to stand firm. You’ll quickly narrow down your home search this way!

7. Choose a Neighborhood- I feel that any you can’t go wrong in any North Shore neighborhood that you choose! However, I understand that each neighborhood does have a unique atmosphere and things to offer, so you’ll want to find the neighborhood that suits you the best. I have years of experience in the North Shore Real Estate market and will be able to assist you in finding your ideal neighborhood!

8. Make a Reasonable Offer- Your North Shore Real Estate agent will be able to give you a list of comparable homes in the area, and can help you determine an offer that is fair for the market. They will also make sure that you are being dealt with fairly as a first time home buyer.

9. Have a Home Inspection- This is very important! Even if the home looks perfect inside and out; there is no way of knowing what issues there may be without a home inspection. You don’t want to buy a home only to find that it needs the roof replaced or there is water damage. Having the home thoroughly inspected allows you to know exactly what you can expect in the home you buy.

10. Finalize the Details- Once the contract is signed; you’ll still want to stay in touch with your North Shore Real Estate agent and lender. There are always last minute finalizations that need to be made.

I hope these tips have been helpful as you begin the process of looking for and buying a home in the North Shore! If you have any questions about buying a home of the North Shore Real Estate market; please let me know. I enjoy helping first time home buyers find their first home and begin the new stage of life! I would be happy to meet with you and show you around Chicago’s North Shore!


Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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