The northwest suburban area of Chicago consists mainly of single-family homes built between 1940's through the 1970's. These homes cover a wide range of sizes and styles. They are most likely to have had several owners over the years as well. Much of the decor and room sizes reflect the popular culture of the times they were built and/or decorated. In exchange for these minor shortcomings, you will benefit by the solid construction, established neighborhoods and school systems, history of the area, and the overall stability of the towns in which they reside.

The systems and components of these homes will range in type and age as well. A few examples include one car garages, 60 amp electrical service, single-paned windows, aging roofs, galvanized plumbing lines, and the absence of central air conditioning. These examples reflect the technology available at the time of construction. All of these items are candidates for updating, and in many cases, have been addressed by one or more of the recent owners. The same maintenance procedures that apply to paint, decorating, and carpeting, apply to these items as well. Very few resale homes exist that have had all of these systems replaced and are in like-new condition. This does not mean that these homes are not a good value. In fact, the construction of these homes is often far superior than today's new construction, and are likely to stand for 150 years or more. Routine repair, maintenance, and updating are simply the reality of homeownership. Repair and replacement of your homes components should not be viewed as expenses that diminish your equity, but as the cost of maintaining your home in a condition that results in healthy appreciation.

As suburban residents ourselves, we have seen excellent appreciation in our own homes value over the 12 years we have owned our current home. Annual appreciation of 5% or more is not uncommon. Appreciation over shorter periods of time (2-5 years) are more easily effected by current market conditions and will not always reflect the average. Remember that your own home should not be confused with investment real estate, which carries it's own rules of money management and cost control. Your own home is more than an investment, it plays a major role in your quality of life.

Purchasing a resale home is not something that should be feared. Thousands of people purchase these homes in the northwest suburbs of Chicago every year. Our own experiences of selling these homes only reinforces our belief that resale homes are a sound investment in your future.