Tips for Choosing Between a Condo or Home on the North Shore

As summer winds down, there are many who find themselves thinking about buying a home on the North Shore.  Whether they’re hoping to finally move into their dream home, or are a first time buyer looking to purchase in Winnetka, Northbrook, Highland Park, Deerfield or Glencoe; there are a number of properties on the North Shore market from which to choose!

If you’re a first time home buyer, or hoping to downsize in your next home purchase, you may be considering buying a condo or townhome.  As a North Shore Real Estate agent, I’ve worked with many buyers who were searching for condo living and they have been completely pleased with their new lifestyle!  

It’s important to note that there are a few major differences when it comes to choosing between a home or a condo.  Oftentimes people consider the issue of space and whether or not they’d like a larger home or a cozier condo.  However, there are a few other aspects you’ll want to look at when making your final decision.

1. Location- Whether you’re looking at a home or a condo, the first item on your list of decision will be where you want to live.  This is more than just choosing the town in which you want to settle down.  If you like the thought of living more in the middle of one of the North Shore’s quaint downtown areas, chances are you’ll find more condos.  If, however, you’re searching for more of a neighborhood feel, homes will be more prevalent. 

2. Privacy- If you don’t mind bumping into neighbors more often or sharing an outdoor space, a condo could be perfect for you!  However, if you want a yard all to yourself and lots of privacy, you’ll want to look at single family homes.  

3. Responsibility- Condos can be ideal for those not wanting to worry about trash removal or lawn care, which are typically covered by an HOA fee. However, with condo living, there can oftentimes be strict rules about updates you’d like to do or other items involving your space.  A single family home comes with freedom of making whatever choices you’d like, but all repairs, maintenance, etc... are on your responsibility. 

4. Budget- Determining how much you’d like to spend on a property can be the determining factor between home or condo living.  Typically, condos are less expensive and move in ready while finding an affordable home could mean updates are needed.  You’ll want to carefully consider your budget and ensure you’re not getting in over your head.

I hope these points give you further insight into the decision between condo or single family home living.  If you have further questions, I would be happy to talk with you more!

There are a number of beautiful homes and condos currently available on the North Shore and I would be happy to show them to you!  Contact me today to get started!  

Janie Bress
Your North Shore Real Estate Expert

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Tips for Downsizing in Your New North Shore Home

We’ve probably all made a few resolutions for the new year, and it could be that you’re visiting my blog because one of your goals for 2013 is to buy a North Shore home!  It’s an exciting time in the North Shore as we see home prices rising and more buyers and sellers entering the real estate market. 

In working as a North Shore Real Estate agent for over twenty years, one of my goals is to provide the service and information that clients deserve.  The North Shore Real Estate market can seem overwhelming, but having a trusted North Shore agent by your side can ensure a smooth experience whether you’re buying or selling a North Shore home.

For some of you, you’re hoping to downsize in your new North Shore home.  You’ve either come to a point in your life where the home you’re currently in is too big, or you’re hoping to simplify by choosing a North Shore townhome or condo.  Either way, downsizing in a home can be quite the process.  If you’ve lived in your home for some time, you may have storage filled with many items that have been passed down through your family or things you’ve collected throughout your lifetime.

I thought it may help to highlight seven tips for downsizing that will help you clear out, declutter and maybe even cash in on some of the items you have!  Take a look!

1. Accept that downsizing is tough- You’ll find when going through your things, there are some very personal items that will be hard to get rid of.  Whether a set of furniture passed down in your family or a collection of dolls from your grandmother; you’ll have to be willing to let go of those items that may not fit in your new space.  

2. Find trusted experts- If you’re planning on conducting a large house sale on most of your items; you’ll want to ask the experts.  You can stop by a local antique store or do your own search online. These are personal items so make sure you know monetary value before selling.

3. Call in an appraiser- If you don’t have any idea of what you’ve got, consider paying an hourly fee to an appraiser of “household contents” or “decorative arts” who will visit your home. The appraiser should be disinterested, meaning they shouldn’t be bidding for your items or working on commission.  This will help give you a better idea of what’s in your home.

4. Be wary of family lore- Just because grandma believed something was valuable doesn’t mean it is. On the other hand, family members may have something that they use daily and don’t recognize the value of.  The rule of thumb is to figure out an items worth for yourself.

5. Don’t throw out items prematurely- Many people throw out things that appear to be junk, but actually have extreme value.  This is where calling in the experts becomes necessary!  Throw away items should include things like old newspapers, moldy clothing, cracked everyday china, stuffed animals, bed linens and other items that take up space and that you know are not sellable. 

6. Call in an auction house- Auction houses will also send out specialists to review your household contents, and suggest items you might consign. While at an estate sale you have a limited audience and you set the price, at auction you can reach an international audience and the price can be bid up if you’re lucky. Some auction houses, however, will take lower-value items only with no reserve—meaning you must sell the item no matter how little is bid.

7. Donate and deduct- Bags of old clothes and rickety furniture you can be left out for the Salvation Army or Goodwill to pick up. But if you have something special to donate you might want to seek out a local charity that can use the item. Aside from the satisfaction of giving, you get a charitable deduction on your tax return—assuming you itemize. 

Interested in seeing some of the beautiful townhomes, condos and cozy homes currently on the North Shore Real Estate market?  Please let me know!  There are a number of great homes that will offer you the simplified lifestyle you’re after.

Please feel free to contact me today to begin your North Shore home search or to ask questions you have regarding the North Shore Real Estate market.

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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10 Tips for Buying a Condo or Townhouse in Chicago's North Shore

Chicago’s North Shore is known for its stunning, expansive homes rich in character and history.  Yet there are many who move to the North Shore that are seeking something other than the majestic North Shore homes.  Cities such as Deerfield, Winnetka, Northbrook, Highland Park and Glencoe located just north of the metropolis of Chicago offer great neighborhoods, suburban convenience and a vibrant lifestyle which is attractive to a wide variety of people.

Oftentimes, thoughts of the North Shore’s single family homes overshadow the fact that there are a great number of condos and townhouse in the North Shore that offer the ideal living situation for young professionals, small families and even those hoping to retire to a more manageable residence.  Meticulously maintained, renovated condos and townhouses offer the perfect solution!

If you are considering moving to a North Shore condo or townhouse, there are a few things you’ll want to know that may be different from single family home living.  As a North Shore Real Estate agent, it’s my goal to make sure clients are fully prepared for embarking on the North Shore Real Estate market, so I’ve highlighted ten things you’ll want to consider when buying a North Shore condo or townhouse.  Take a look!

1. Length of Stay- Think about how long you're going to stay in one place. Buying a condo or townhouse is no different than buying a single-family home; you need to live there at least a couple of years to recoup closing costs, assuming the property will appreciate.

2. Determine Your Wants - Give some thought to what you want. If you're not interested in the amenities, understand that the condo or townhouses’ price and ongoing monthly association fees will reflect their use regardless of your interest in using the pool or the gym.

3. Shop Around- Visit various townhouse communities and multi-unit buildings so you know what’s available in the North Shore.  You’ll also get a sense of prevailing prices.

4. Request a Market Analysis- Request a market analysis from your North Shore Real Estate agent regarding the selling prices of condos or townhouses in the area. Check the price appreciation on the market analysis to evaluate how quickly they are increasing in value; subtract the selling price from the purchase price and divide by the number of years the property has been held by the previous owner for a ballpark estimate of annual appreciation, if any, in the neighborhood.

5. Get Prequalified for a Mortgage- Just like buying a home, you want to be sure to get prequalified for a mortgage loan. This will give you a great idea of what you’re able to afford and will help you be prepared for a quick condo purchase.

6. Research the Community- Find out if the building has a good reputation. Ask how often repairs and maintenance are required, and how good the soundproofing is between units.

7. Discover Your Amenities- Check out parking, storage, security and other amenities. You’ll want to know every perk that comes with buying the North Shore property!

8. Take Note- Ask to see the minutes from a recent meeting of the home owners association (HOA). Find out what the hot issues are and if members are fighting tooth and nail. You’ll want to be aware of any major issues before moving in.

9. Research Restrictions- Find out how restrictive your HOA is. For instance, some buildings even dictate what sort of holiday lighting you can put up. Request the same information as you would for buying a house. Read the CC&Rs (covenants, conditions and restrictions).

10. Budget in your HOA Fees- Budget in association dues, which are above and beyond your monthly mortgage payment. To assist in long-term financial planning, ask the association whether association fees have increased in recent years. Also estimate monthly maintenance costs that you may be responsible for in addition to the association fees.

I hope these tips are helpful as you consider buying a condo or townhouse in the North Shore!  There are many beautiful condos and townhouses from which to choose, so you’ll be sure to find the one that fits your needs, budget and lifestyle.

Please feel free to contact me today to view some of the available options or to learn more about living on the North Shore.  I look forward to working with you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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