New to Chicago, moving to the Burbs

[OakBrookMom]

I think renting where you want to live first is sometimes a great idea. I do however feel the need to warn you about your selections. You want a newer place as a rental - is that also a criteria for the home you will eventually want to purchase and will your budget still be 1300/month? If so you need to rethink your suburban location and commute. Again I assume you want newer or rehabbed since that's what you want to rent. Run the numbers, including taxes. You may find that you will not be able to afford single family homes in any of these areas that meet your standards. A 200K home with 5% down at a 5% 30 yr fixed, 4K in taxes and insurance at $35/mo will cost you 1388/month and that's before utilities which in the winter will add another 200 to the mix. So if 1300 is also your purchasing budget you are below 200K as your purchase price, even lower if rates shoot upward. None of the 4 suburbs have any new or newer homes in that price range - there are homes but if you won't rent in a nice 70's 3 flat in Brookfield, then you'll be nauseated when you see the homes under 200K. Even with townhomes and condos - if you want that 2 bedroom/2bathroom in a new building or new conversion - you will have slim pickings in these areas and will be relegated to builder close-outs and short sales. If that's what you really want and there is a special deal when you are looking, I'd buy instead of renting because of the limited selection in your price range and especially if you know your budget will not much larger next year. On the bright side there are many choices if you look at older condo and townhome properties in these areas with the exception of Brookfield which in my opinion has a better selection of homes than townhomes in this price range. Again renting isn't a bad idea but if the reason is to get to know an area - make sure you can afford what you want in that area otherwise you are just letting yourself in for a big letdown when the time comes to buy. I usually show all my relocation rental clients that say want to buy later both rentals and for sale listings to avoid exactly that in a year or two. They may still choose to live in the more affluent area as a rental but at least they have made a fully informed decision.

[oakparkdude]

How many cars do you have? The advantage of some of the inner suburbs (Evanston, Oak Park, etc) is that you can get by with fewer cars than you would need out in Naperville, etc. If you're saving 300-400/month on one fewer car payment, insurance, and maintenance, that can make a huge difference.

[chitown85]

Granted the outer suburbs tend to have lower rent.

[seank]

OAK PARK!

it is safe, has good schools if you do/are planning to have kids, and has about a half-hour commute to downtown in RUSH HOUR TRAFFIC!
highly reccomend it

[dude1984]

I'd suggest Mount Prospect or Arlington Heights. They are nice areas that are close to the CTA train stop at Cumberland. Other towns to think about are Skokie and Evanston.