There’s more to buying a Chicago condo than finding one you just can’t live without. Before you sign on the dotted line, make sure you’ve spent some time in the neighborhood. The property may end at the lot line, but remember, you’re buying into the surrounding vicinity, too.
If you are not already familiar with the chicago neighborhood you want to buy in, go there at different times of day and different days of the week to get a better idea of what the area is like before you make a commitment. You may find nice surprises, like that all the neighborhood parents and kids get together and hang out at the park down the street after school/work. Or there could be some less charming discoveries, such as a nearby factory, garbage dump or fast-food restaurant that wafts unsavory aromas your way when the wind blows a certain direction. Good or bad, you won’t know about these things unless you frequent the community.
While an EL train in your backyard may mean convenience to you, it might be seen as a disturbance to someone else. Always think about the resale value. In the grand scheme of things it could make more sense to pick a home that’s within walking distance of public transportation, but not next door to the station. The same goes for proximity to busy commercial centers. Living above a storefront on the main drag is very different than living down a side street a couple blocks off the major thoroughfare. In both cases, amenities are a short distance away (a great selling point). However, when you are ready to sell down the road, being on a busy street may be a deterrent to buyers looking for peace and quiet.
There are countless environmental factors to consider when purchasing a property, as well – especially in a big city such as Chicago. From outdoor air quality to the number of trees planted on your lot, there are many ecological aspects that affect your home’s overall value. Even the direction the windows face has an impact on the bottom line… Do they get direct sunlight? Are they shaded by another building or do they have a clear view? No matter where you are looking to buy, do some investigative work beforehand to ensure you’re not only getting a great home, but a great place to live.
