When deciding between buying or building a new home, one question we hear often is, How do we finance it? Often people assume that they need a mortgage for their new-build home, and are surprised when we tell them about new home construction loans instead. We asked the experts at Chicago Construction Loans (Associated Bank) to give a primer on everything you need to know about new home construction loans.
As the third largest city in the country, Chicago covers 234 square miles. But Chicagoland—the sprawling suburbs and towns surrounding the city—clocks in at 10,857 square miles. That’s a lot of space to cover, and if you’re unfamiliar with the area, it’s easy to get overwhelmed and turned around by the range and difference of suburbs.
A lot of people are attracted by the idea of building an eco-friendly home but believe the green construction costs just don't make it a practical option for them. If you hold such beliefs, it's time to re-examine them.
Real estate and buying a home comes with a lot of uncertainty, advice, and general … fear. It will likely be the largest purchase and decision of your life, so those feelings are completely founded. You’ve probably heard most about the cost associated with becoming a homeowner – and just how large of a process (and seemingly impossible) it is to secure the down payment. I’m here to tell you it’s not impossible. Here are some creative ways to save for your forever home’s down payment.
Everyone wants to do what they can for the environment. Green choices are often fiscally sound – they save you money by decreasing energy usage – and they let you do your part in preserving a healthy environment for future generations.
If you are a millennial, home buying and settling into a mortgage may not have been a dream in the past. Now, as you grow older, statistics show that you are finally ready to nest and find the perfect home. When is the right time to act on that impulse? According to experts, both nationally and in the Chicago area, you shouldn't wait too long to fulfill your dream.
Many things can stand between you and the home you plan to live in for the rest of your life (and perhaps pass on to your children). But, over time, BrightLeaf Homes has found that the most common thing holding people back is themselves.