Around this time last year, I closed on my first home, a 140-year-old three-flat near the 606 in Logan Square. My partner and I live in the first-floor unit, and there are great tenants living in the basement and second-floor units. You can read more about what I learned during the home purchase experience here. In the year since we closed on our home, we’ve enjoyed so many great moments, but we’ve also faced many challenges – some of which we didn’t anticipate. Here’s are a few things I learned in my first year as a homeowner and landlord. Spreadsheets Are Helpful We bought the home knowing w ..read more

Buying your first home can be confusing and overwhelming, but it doesn’t need to be. Educating yourself about the real estate market and staying informed on the latest trends and tips for buying a home can make the process smooth and seamless. Before you embark on your home search, remember that a little research can go a long way toward getting you in your new front door — and with minimal stress. When you’re considering buying your first home, there are so many things you need to consider: mortgage rates, how to maximize tax benefits, hidden assessment fees and that’s before you even do a ho ..read more

Worried about the long-term outlook for real estate in the Loop? Don’t be. The Loop is Chicago’s beating heart. Though it has faced challenges in recent years, the City of Chicago is committed to investing in its success, and recent signs point to a bright future. The area also boasts many permanent characteristics that promise to keep the Loop a vibrant, dynamic place to live. For buyers and sellers, there are compelling reasons to remain confident in this iconic neighborhood. A Speed Bump, Not a Stop Sign The Loop’s unofficial boundaries are more or less the Chicago River to the north, Roose ..read more

Purchasing a home is a major milestone for anyone, let alone a first-time homebuyer. And one of the biggest hurdles to clear is saving for a down payment. Fortunately, for first-time buyers, there are plenty of programs available to help achieve your dream of homeownership faster – and often with lower closing costs, mortgage rates and monthly payments. In this blog post, we’ve broken down some helpful programs available to first-time buyers at both the national and local level. If you still have questions, your @properties Christie’s International Real Estate agent and Proper Rate loan office ..read more

Casting a line into the glassy pre-dawn water, carving graceful turns behind a ski boat, or cracking a cold one and floating all day on a pontoon…however you enjoy it, lake living can’t be beat. And here in the Midwest, we pretty much wrote the book on the lifestyle. That’s no surprise considering this part of the country is home to the Great Lakes, the Land of 10,000 Lakes, the Chain O’ Lakes, and a whole bunch of other lakes. From large spring-fed lakes like Geneva in Wisconsin, to small private lakes along the Illinois-Wisconsin border, to the inland ocean of Lake Michigan, Midwesterners ha ..read more

When it comes to buying a home, today’s Gen Z shoppers have very different expectations than their Gen X and Boomer parents. According to the most recent Christie’s International Real Estate Luxury Forecast, this next-gen homebuyer is all about smart, sustainable, and easy living. If you’re thinking about selling your home, it’s important to keep those must-haves in mind and prepare your property for this dynamic new buyer persona. Here’s where to start: #1. Introduce smart tech Smart home technology is no longer a nice-to-have. More than 85% of Americans now own at least one smart home device ..read more

How much house can you buy with $2 million in the Chicago area? With an impressive budget of around $2 million, buyers can expect to have their pick of upscale homes featuring lavish amenities, coveted Lake Michigan or skyline views, and more. And despite higher borrowing costs at the outset of the 2024, the real estate market is still buzzing at this price point, with the number of transactions between $1.8 million to $2.2 million in Chicagoland increasing 23% year-to-date vs. the same period last year. * From a rehabbed historic Lincoln Park home to an expansive mid-century modern masterpiec ..read more

Higher property taxes, higher rents, stalled investment and revenue shortfalls await Chicago if the new transfer tax is enacted. Since we last posted about Chicago’s proposed new real estate transfer tax, known as Bring Chicago Home, a lot has happened around the issue. In late February, a circuit court judge ruled that the ballot measure violated Illinois election law because it attempted to push through an unpopular proposal (raising taxes on some individuals) by bundling it with a popular one (lowering them on others). But recently, the Illinois Appellate Court reversed the ruling, putting ..read more

Navigating tax season can be challenging, especially when you’re a first-time homeowner. The good news: you’re likely entitled to additional tax benefits – from major deductions to perks for building that new home office. The key, though, is understanding what you can claim and, from there, ensuring you maximize the savings – and minimize your tax bill. The transition from renter to homeowner introduces a suite of potential tax benefits that, if leveraged correctly, can significantly reduce your tax bill. Start here: 1. Mortgage Interest Deduction One of the most significant tax benefits of ho ..read more

As your mortgage balance declines and your property value increases, you accumulate equity in your home. This is a form of wealth that you can tap into and use to pay a variety of expenses. “Home equity is more than just a number,” explains Jo Ann Theriault-Fazio, SVP of Mortgage Lending & National Sales Director at Proper Rate. “It’s a reservoir of potential that, when tapped wisely, can transform your financial landscape.” “Tapped wisely,” though, is key. What’s a HELOC? A Home Equity Line of Credit (HELOC) is a common way to quickly and easily tap into your home’s equity. HELOCs typical ..read more