First Time Buyer in Orland Area - Home and later investment ppty

[Matthew M.]

Hi All,

My fiance and I are in the process of looking for a single-family home in the Orland Park, Homer Glen, Tinley Park area. We currently rent and feel like we are wasting money paying $1,800/month for a 1-BR and not having anything to show for it.

Our average household income is $160,000, our budget is around $300k and we are looking to put ~5% down on a house. My credit score hovers between 780 and 795.

Outside of some browsing on Zillow, we have not done much research in the home buying process. 

Our goal is to buy a smaller, more affordable single-family home, live in it for a few years, and eventually sell or rent it out. Possibly BRRRR process.

Can anyone in the area offer some insight on where to get started? Any tips/advice from local investors?

Thank you

[Mindy Jensen]

Hi @Matthew M. . 

My advice is to pay very close attention to the school districts, especially the high school districts. My sister lived at 167/Harlem, but on the Tinley Park HS side, not the Andrew HS side. If she had lived on the Andrew side, she'd have sold her condo in a hot second. Since I move frequently, I always keep an eye on how I'm going to sell. 

@Jeff Valentino is an agent in Orland that I'd recommend. (I would have recommended him to my sister, but she didn't think I could suggest an agent, what with me LIVING AND BREATHING real estate for the last 20 years. Sigh.)

Also check out the traffic patterns near the World Music Theatre or whatever they're calling it these days. On concert nights, it's a disaster.