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Rent to Own Homes in Illinois
Illinois is a Midwestern state known as home to the tallest building in North America, the Willis Tower. The tower is located in Chicago, which is a highly populated city resting on Lake Michigan in the northeastern region of the state. While Chicago is one of the best known cities and is prized for its easy access to water, there are many other places that you may consider... Read More
Illinois is a Midwestern state known as home to the tallest building in North America, the Willis Tower. The tower is located in Chicago, which is a highly populated city resting on Lake Michigan in the northeastern region of the state. While Chicago is one of the best known cities and is prized for its easy access to water, there are many other places that you may consider taking up residence in Illinois. You may venture into Peoria or Springfield toward the center of the state or head to the southwestern edge where St. Louis sits just slightly over the line in Missouri.
While this isn’t one of the best places in the United States to live if you enjoy spending time on the water, there are a couple noteworthy rivers flowing through the state. The Mississippi River runs along the western border, and the Illinois River cuts through central Illinois. Some towns also enjoy access to smaller waterways, including the Des Plaines River. Many residents enjoy living in the Illinois River Valley where they have access to the national scenic byway. Consistent development along the river has taken place in recent years, so there are some desirable communities there today.The below results are primarily rent to own homes in :
Illinois is a Midwestern state known as home to the tallest building in North America, the Willis Tower. The tower is located in Chicago, which is a highly populated city resting on Lake Michigan in the northeastern region of the state. While Chicago is one of the best known cities and is prized for its easy access to water, there are many other places that you may consider... Read More
Illinois is a Midwestern state known as home to the tallest building in North America, the Willis Tower. The tower is located in Chicago, which is a highly populated city resting on Lake Michigan in the northeastern region of the state. While Chicago is one of the best known cities and is prized for its easy access to water, there are many other places that you may consider taking up residence in Illinois. You may venture into Peoria or Springfield toward the center of the state or head to the southwestern edge where St. Louis sits just slightly over the line in Missouri.
While this isn’t one of the best places in the United States to live if you enjoy spending time on the water, there are a couple noteworthy rivers flowing through the state. The Mississippi River runs along the western border, and the Illinois River cuts through central Illinois. Some towns also enjoy access to smaller waterways, including the Des Plaines River. Many residents enjoy living in the Illinois River Valley where they have access to the national scenic byway. Consistent development along the river has taken place in recent years, so there are some desirable communities there today.The below results are primarily rent to own homes in :
All legislative duties for the state are carried out by the Illinois General Assembly, and they have chosen to preserve some of the natural green spaces found throughout the state. For instance, the Shawnee National Forest and Cape Girardeau are maintained in Southern Illinois and serve as two of the biggest attractions for visitors each year.
Sandwiched between Missouri and Indiana, this northern state experiences all four seasons of the year, so you don’t have to choose between skiing down a mountain or water skiing across the lake. Everything has a season in Illinois.
Buying a Home in Illinois?
Illinois is a great state to call home if you’re interested in paying the lowest price possible, especially if you’re open to purchasing and rehabilitating a foreclosure home. There are many homes going through the foreclosure process in this state at all times, and they hit the market at unbelievable rates. You can also take advantage of state assistance programs which help homebuyers pay for the expenses of rehabilitation.
The Illinois Housing Development Authority also funds a variety of smaller programs that help residents across the state pay for down payments and closing costs. In addition, there are some federally funded programs which are available to select homebuyers able to meet a list of qualifications. To find out about all of the available assistance programs and determine which ones may accept you as a participant, contact the housing authority.
Regardless of your budget, it’s best to work closely with a real estate professional experienced with the Illinois housing market. This is a state where you can find incredibly low prices, but there are also some exclusive neighborhoods offering premium housing options. A realtor will know where to look to meet your needs without breaking your budget.
Popular Neighborhoods in Illinois?
If you want your children to go to excellent schools without paying for private school, consider living in the village of Northbrook. This small community doesn’t have much to offer as far as entertainment, but it boasts one of the most impressive high school graduation rates in the state. Glenview is another city with exceptional high school graduation rates, but you may need a more substantial housing budget to fit into this higher-income region. If you can afford a home in the area, you can take advantage of a large community center and many family-centered neighborhoods.
If you prefer more of the big city life, look for communities in and around Chicago. Highland Park is a lively neighborhood just outside of the big city that offers a variety of entertainment options and restaurants within close proximity of residential areas.
Buying vs. Rent to Own Homes?
Buying a home in Illinois is much easier than in many other states due to the abundance of state and federal assistance programs. There are also an impressive number of low-priced and foreclosure homes on the market in this state, but many residents may still struggle to meet all of the demands placed on new homeowners.
For instance, many potential homebuyers have everything they need to qualify for a loan except the down payment. Others are scared away by the high closing costs and the need to pay for home inspections before a deal can close. Still others know that they will receive a lower interest rate on their loans if they take the time to clear old debts from their credit reports first.
If you’re struggling with some of these problems, you may consider a rent-to-own home. If you go this route, you’ll sign a contract that allows you to rent the home that you ultimately want to purchase. You will have a rental period that lasts a specified period of time, and then you will have the option to purchase the home and stay forever. This is a great way to make sure you’re ready for the home-buying process while maintaining control over when it begins. Plus, some contracts reserve a portion of your monthly rent payment for future use as a down payment on the purchase of the home.
Cost of Living in Illinois?
Thanks to below-average housing prices and the affordable price of food, Illinois enjoys a cost of living approximately five percent lower than the national average. While transportation and other expenses are about equal with the national average, the housing market makes this one of the cheapest states to call home today. The modest housing prices are what attract many new residents, but there are still some exclusive neighborhoods where large homes sell for premium prices. Even in those areas, you can stretch your budget further than would be possible in other states.
Whether you come to enjoy the Windy City or to accept a new job, you’ll find Illinois one of the most welcoming states for new residents. For starters, you won’t get hit in the face with outrageous home prices. If you have a reasonable budget, you can purchase a nice home that fits the needs of your family. If your budget isn’t worth bragging about, you’re more likely to find a suitable home here than in most other states. There are also a variety of homebuyer assistance programs of which you may take advantage. Once your home is secured, you’ll enjoy convenient access to Lake Michigan, the Mississippi River and many smaller waterways. With community festivities taking place throughout the year, this is an exciting place to live.
Summary
Whether you come to enjoy the Windy City or to accept a new job, you’ll find Illinois one of the most welcoming states for new residents. For starters, you won’t get hit in the face with outrageous home prices. If you have a reasonable budget, you can purchase a nice home that fits the needs of your family. If your budget isn’t worth bragging about, you’re more likely to find a suitable home here than in most other states. There are also a variety of homebuyer assistance programs of which you may take advantage. Once your home is secured, you’ll enjoy convenient access to Lake Michigan, the Mississippi River and many smaller waterways. With community festivities taking place throughout the year, this is an exciting place to live.