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Evanston Buy vs Renting


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The beauty of living in Evanston,Il and should you rent or buy.

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Evanston Buy vs Renting

  1. 1. EvanstonTHE CITY AND THE SHORE.
  2. 2. Evanston Evanston is a very unique city Parks and beaches on Lake Michigan. Chicago is a short train, bike, car or cab ride from here. A major destination for music, restaurants and art. Northwestern University anchors the cities intellectual & cultural resonance.
  3. 3. Coldwell Banker. •Regional leader. •Market leading resources •Optimal location
  4. 4. Renting in Evanston. •Evanston rental prices have increased yearly and economic indicators suggest that they will continue to do so. •Price varies by location, amenities and size. •Rental inventory is very competitive at the moment and it is an Owners market. •2 months out is the time to look and determine where you want to be. (Law prohibits us from making suggestions based on location.)
  5. 5. Buying in Evanston.• The trend in Evanston and the Northshore over the last four years has been for median prices to decline.• All indicators are the median prices have leveled off.• Mortgage rates are at historic lows.• Home inventory has been declining for the last year.• All good signs for future investment.
  6. 6. Renting vs Buying.• 1 bedroom 1 bath at 807 Davis. A newer Condominium building close to the Metra and El with parking.• Premier location• Close to campus• Highly desirable.• Includes parking, pool and work-out facility.• Rent $2,300 per month with a min 18 month contract.• Buy $229,000.
  7. 7. 807 Davis $2,300 monthly rent and 223,000 purchase price. Better to buy after 4 years.
  8. 8. Next steps and to do list if you are renting.1. Determine where you want to be.2. Determine your budget.3. Determine what you need: Number of bedrooms, number of baths, laundry, parking, pets, etc.4. Advise us on your move in date.5. We will set up a schedule to get this done and we can start sending you examples of what is available.
  9. 9. Next steps if you want to buy.• Let me know you want to buy.• Give me the requirements on your new property.• Get pre-approved. (We can do that in house with PHH Home Loans.)• Start looking at the listings we provide you.• Set up time to view selected listings.• Make an offer.