What You Should Know About Purchasing a Home in Illinois
A home purchase will be THE biggest investment you will ever make in your lifetime. Ensuring you have an attorney who can protect you from legal liabilities during the process should be one of your priorities. However, the type of home you choose should be based on your requirements.
What to Consider Before Purchasing a Home in Illinois
Here are some things you should consider before finalizing a home in Illinois:
Neighborhoods
The amount you pay in property taxes will depend on the neighborhood your home is located in. This includes the schools your children will attend, your commute, etc.
The Size
Even if you know the number of bathrooms and bedrooms you need, have you given any thought to the total size of the property? Consider how many square feet you would like to own besides the number of rooms you need. You may end up with tiny ones otherwise!
The Condition
Unless you are purchasing a newly constructed house, the one you end up buying may not be as perfect as the initial inspection made it out to be. You may have to pay for repairs that the last owners did not or could not make. Think about the types of repairs you are comfortable making and ones that are complete deal-breakers. Your decision will have an impact on the final price of the property.
Why You Should Hire a Real Estate Attorney
If you sign a contract that does not have an attorney review clause in it, you will not be able to get an attorney who can modify the terms to protect your interests. In the end, you will have no choice but to buy the property as per contractual terms whether you like it or not.
Make sure you hire a real estate attorney before the process kicks off. He/she will work behind the scenes, monitoring the entire process, and arranging the closing to ensure the purchase goes smoothly. By nature, the entire process is quite complex, not to mention highly stressful.
With expertise in Illinois real estate laws and regulations, Dan Walker Law Office can prove invaluable for you. Dan Walker is a licensed lawyer who has more than 45 years of experience helping clients purchase real estate as an investment and as their home. We can help you do the same. Get in touch with us for a consultation today in Hinsdale, Illinois.
