Naperville and Chicagoland, Illinois Real Estate

Buyers' Tips
Before you start looking for a home you should ask yourself a few questions.
Where do you want to live?
Do you want to be close to schools, shopping, or work?
What kind of house would you like (need)?
Are you looking for a particular style?
How many bedrooms and bathrooms do you want?
Do you want a yard?
How much house can you afford?
Have you consulted a lender to determine the size of the mortgage you would qualify for?
Here are a few tips to help you get organized:
  • Check your credit report and make sure the information is accurate. If you find any errors take steps to correct them immediately.
  • Start saving money - you'll need to have cash on hand for a down payment and closing costs.
  • Don't incure any additional debt.
  • Pay down your credit cards - and don't apply for any new ones.
  • Don't make any major purchases on credit - buy furniture, a car etc.
  • Contact DAN JUNGCLAS, YOUR REALTOR.  He can help you determine how much you can afford, and can provide you with information on homes that may interest you. He will also help you complete the necessary forms and documents when it comes time to make an offer.
Why you should work with DAN JUNGCLAS AS YOUR REALTOR.
Working with DAN JUNGCLAS AS YOUR REALTOR to buy your home is a good idea for several reasons:
  • He is familiar with the process of buying a home and can explain things to you.
  • He can easily access information on all properties listed for sale by Realtors in your area.
  • He can set up appointments for you to see homes that interest you.
  • He will help you complete all the necessary paperwork when it comes time to make an offer.
  • He will help you arrange financing.
  • He will be at closing to answer your questions and make sure everything runs smooth.
  • He will make the process much more efficient since searching for your dream home can be a time consuming experience.
Additional Topics To Consider:
How Much House Can You Afford?

Simply put, you can afford a house that costs as much as the largest monthly mortgage payment you qualify for. 

How much home you can afford will generally depend on how large of a down payment you can put down on a home and how much money you can afford to make on a mortgage payment each month.

Most lenders will prefer to have you put a down payment of at least 20% of the value of your new home. If you make this large of an initial down payment, you will generally find that lenders will give lower interest rates on your mortgage and also not require you to purchase Private Mortgage Insurance (PMI) for your new home.

The amount of money you can afford for your mortgage payments should not exceed 28% of your gross monthly income after all housing expenses are paid. Your lender and I will assist you in determining the amount of money you should borrow and how much you can afford to pay each month for your new home.

Be sure to take into consideration that buying and maintaining a new home will cost more than you expect. A great strategy for purchasing a new home is to set aside some cash for home repairs and furnishings.

As your Realtor, I will work with you carefully to determine what financial arrangements will work best for you...

When is The Right Time To Buy a Home?

In general, the best time to shop for a new home is when other home buyers are not out in force. This would mean, of course, that you should ideally purchase a home outside of the traditionally busy spring (April & May) and summer/fall seasons (August & September).

The economy can also dictate when the best time is to purchase a home. When the economy is bad, many home sellers may become desperate to accept offers for their homes which they would not normally accept in a busier market.

In a good economy, many more people are searching for new homes and there could be several offers on a property you are interested in. You may become involved in the unenviable positon of trying to win a bidding war for a home you really like.

Assuming that you are fortunate enough to be looking for a home in a Buyer's Market (more homes are available than serious buyers), you will be able to put many more favorable conditions on the purchase of your new home such as contingency provisions for the sale of your home and home inspection provisions as well.

As your Realtor, I will help you determine when the optimal time to find your dream home really is!

Researching Your New Neighborhood and Schools

The Internet offers an amazing opportunity to learn a great deal of information about an area where you may choose to live. Please visit the Community Information page of my web site for great information about the areas I serve. Also, be sure to visit the Educational (School) page of my web site as well.

Another great place to get information on a prospective community is to mail the chamber of commerce for area information. Also, most communities now have web sites that list e-mails and phone numbers of all businesses and many private organizations like churches, newcomer clubs, and civic organizations. Not only can you find out how to contact the local chamber of commerce on these web sites, you can e-mail many people associated with the village and ask for their impressions and advice on whether to move to this community.

Perhaps the best way to research a prospective community is to take a drive and carefully scope out the area around your potential new home. Look for key indicators such as shopping malls being in good condition. Are new businesses being opened? Look to see how well the community is maintained. You have probably heard of "pride of ownership" when referring to an individual home or an automobile. Look to live in a city that demonstrates community pride, as well.

Finally, you may want to do some research on local crime reports with the local police force or on the Internet. Also, many local papers carry Police Reports each week that give an overview of any criminal activity for the previous week. This could be very valuable information which could alter your decision on where you finally decide to move.

As your Realtor, I can assist you in learning a great deal about information about any community that I serve!

Making Your Offer

Making an offer on a home can be a complicated process. You must consider many factors such as the current housing market conditions, property condition, and whether you want to include any contingency provisions (such as selling your existing home or conducting a home inspection).

Another key factor in determining the amount and conditions of your offer is whether the seller may be exceptionally motivated to accept a lower offer. Perhaps the sellers home has been on the market for quite some time. The most common "motivated seller" is someone who has already bought his or her next home or is relocating to a new area. It is important to understand the sellers current situation before making your final offer. Identifying motivated sellers can potentially save you many thousands of dollars.

Finally, be certain to take into account how you would feel about whatever offer you decide to make. Put yourself in the sellers shoes and try to imagine how you would react to your offer and whether you feel it is fair and reasonable.

I will work with you to make a professional offer which gives you the best chance to purchase your new home for the least amount of money possible...

How to do a Proper Home Inspection

Home inspections should definitely be handled by professionals who can give you a detailed analysis of the condition of your home and uncover any potential problems that might arise after your home purchase. As a buyer, you should always insist on a Home Inspection Contingency in your purchase contract.

Most home inspections average between $300 - $500. The home inspector will provide you with an inexpensive and unbiased report which will serve to clearly outline any and all problems which should be addressed with the home you intend on buying. Most home inspectors will tour the home for 2-3 hours and will invite the home purchaser to attend the inspection with them.

Home Inspectors are now required to be licensed by the State of Illinois.  When a qualified inspector produces a report of overall condition of the property and a suggested list of repairs and improvements, you can now negotiate with the buyer to remedy any items that need action.

Before closing, you will want to revisit the property to ensure it is in the condition you have required in your offer, and to inspect that any required repairs have been performed. You should do this no sooner than five days before you intend to close. Make sure this right to do a final inspection is included in your offer to purchase the home.

As your Realtor, I will work with you to select a great home inspector and to ensure your dream home is in tip-top condition and will stay that way for a long time to come!

Moving In Checklist

Before Arriving At The New Location

Arrange for utility services in new area:

  • Water company

  • Electric company

  • Gas/oil company

  • Telephone company

  • Cable TV company

Ask new landlord, previous tenant or real estate agent for recommendations for repair services:

  • Plumber

  • Electrician

  • HVAC

  • TV repair

At The New Location

  • Order local newspapers

  • Meet your neighbors (write down their names)

  • Get recommendations for babysitters, nanny agencies, etc.

  • Contact Welcome Wagon, Welcome Ambassador, or other merchant-sponsored organizations for information and free gifts, coupons

  • Join Newcomers Club

  • Put valuables into a safety deposit box in the new bank

  • Arrange for new school to receive records

  • Contact new dentists and doctors to arrange for record delivery

  • Have pets licensed

  • Arrange for new registration of cars (bicycles, also, if required)

  • Obtain new driver's license if you moved to a new state, or correct address on present license

     ABR, e-PRO, CNC, CSC,
          MRP, SFR, BPOR
About Designations

Contact Dan
Featured Listings
Search for Homes
Your Home's Value?
This Home's Value?
Send A Referrral
Market Conditions
The Real Estate Process
Buying Advice
The Buying Process
Search The MLS
This Home's Value?
What's The Market Like?
How Can I Help?
Selling Advice
The Selling Process
FREE Market Analysis
What's My Home Worth?
What's The Market Like?
How Can I Help?
Community Info
Educational (School) Info
Finance Info
Professional Resources
Real Estate 101
Opt Out

Copyright 2018 ©         DAN JUNGCLAS         All Rights Reserved