evanston buy vs renting

10
Evanston THE CITY AND THE SHORE.

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

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Page 1: Evanston Buy vs Renting

EvanstonTHE CITY AND THE SHORE.

Page 2: Evanston Buy vs Renting

EvanstonEvanston 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.

Page 3: Evanston Buy vs Renting

Coldwell Banker.

•Regional leader.

•Market leading resources

•Optimal location

Page 4: Evanston Buy vs Renting

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.)

Page 5: Evanston Buy vs Renting

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.

Page 6: Evanston Buy vs Renting

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.

Page 7: Evanston Buy vs Renting

807 Davis $2,300 monthly rent and 223,000 purchase price. Better to buy after 4 years.

Page 8: Evanston Buy vs Renting

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.

Page 9: Evanston Buy vs Renting

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.

Page 10: Evanston Buy vs Renting