Moving to Far Northern Suburbs in Chicago, need advice

[chet everett]

Currently the income tax burden in Illinois is on the low side at 3%, but our moronic leaders are contemplating raising it to make up for their chronic addiction to campaign contributions from the roadbuilders and other state vendors that funnel funds from overinflated bids right back into the war chests of incumbants... Illinois income tax rate may rise by 50% -- chicagotribune.com

The only 'plus' of property tax is that it is fully deductible on your federal income tax which allows some relief...

[Owensmomma]

We left IL in 2007 after living there our entire lives. My husband and I are self-employed, and the tax burden we were saddled with, when added to our $6000 annual property taxes (on a house that sold for just under $300K!) became unbearable. Right now in many states including IL, home prices are dropping while property taxes are rising because they average out previous years' assessments along with the current ones.

I highly recommend renting near your job first. North Chicago is a ways up there, so commute-wise you're probably going to end up living in Lake County, which has similar property taxes to McHenry County, where we lived. Get to know the surrounding areas while you're renting; talk to coworkers about their homes, their commute times and their property tax levels. You won't regret it.

[bulldawg1594]

you could try zion, mundelein, gurnee, or grayslake.

[carlsjunior99]

I can see some advantage to renting for a year to get more info about the area and to save more money, but I am also wondering if it would be a mistake to not take advantage of the low interest rates and the $8000 tax credit

[Owensmomma]

I understand your concern. But as long as unemployment stays high, house prices will slide. It could be that by waiting, you'll save more than $8K on the price of a house. It's a tricky thing to time the housing market; good luck to you whatever you decide!

[heyho]

Many people choose to live in Wisconsin and commute to jobs in Lake County (I used to work with some residing in Racine & Pleasant Prairie). Schools are supposedly better in WI--which is one of the many reasons so many corporations base themselves along the expressway corridor.

Good luck in your search.

[nikitakolata]

I would look at Mundeline, Grayslake, and Buffalo Grove. I just did a very quick search on the MLS and I don't think you would have trouble affording a home in those areas. It won't be a mansion or anything, but there are definitely homes available.

[Mindi]

If the school districts are most important to you, I would look at schools that meet the talents/interests of your children and then work from there. You are not likely to get much of a house for that price range near a really good school though. I think that you will have to decide your priorities and go from there. My boyfriend's family live in the Grayslake/ Fox Lake area and his brother plans on moving out of the area before his kids get to school age to get them in better schools.

[carlsjunior99]

Any thoughts on Antioch? Seems like some nice homes out there for good prices.