Top 3 Perks to Buying a Home During Autumn 2017-North Shore Real Estate

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Yes, it’s common to hear people talk about Chicago North Shore real estate trends for the fall season. The cyclical nature of real estate is usually associated with autumn-home-john-loreauxfluctuating interest rates, changing incentive packages, and other economic factors. But were you aware that the real estate market is also influenced by the time of year, also known as the seasons?

A close second to spring, fall is the busiest North Shore real estate selling and buying time of the year. Although you can buy and sell houses at any time, the North Suburban Shores’ fall real estate market offers certain benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving, often a wider selection of houses, to name a few benefits.

To give you an idea of the home-buying advantages you can enjoy during the beautiful Chicago North Shore months, here is a more detailed look into the perks of buying a home during this time-frame:

1. Getting ahead of nature

Buying a house before the deep freeze of winter sets in is very appealing to most home buyers. Low temperatures and poor weather conditions may make moving a little more difficult. Furthermore, by wintertime most kids have settled into school, established friendships, and become involved in extra-curricular activities. By moving in early autumn, not only do you avoid interrupting your children’s schooling (or higher educational pursuits in the case of teen and adult family members), but you gain the added benefit of eluding the summer temps.

2. Important first time buyer tip

Given that fall is the second busiest season of the year for buying and selling houses, you may be tempted to put a bid on a home that is out of your price range for fear that another buyer will better your offer or snatch it before you. Carefully assess your financial situation ahead of time and before your feet hit the pavement, know what your ceiling is and stick to it like glue. Remember: Just as there are many fish in the sea, there are many houses in the real estate market now and certainly in the future.

 3. Year-end tax breaks to keep in mind

Come September and October, people are already starting to think about what year-end tax breaks they may be eligible for. Fortunately for homebuyers, owning a home can yield great dividends in tax returns. For example, both mortgage interest and property taxes are deductible from gross income. Furthermore, if you have prepaid some interest before the due date of your first payment and you close your loan before the year’s end, that amount will also be deducted. Don’t miss out on finding your dream house; it’s a good idea to examine the classified ads more often since the listings are updated more frequently. More info HERE

With top ranking results and personalized service no matter the season, Gloria Matlin along with partner Zack Matlin are ahead of market trends and understand the benefits of selling, buying or both during this season. Over 2 decades of high sales/production results and exceptional client centered performance, Gloria Matlin is a consummate expert within the Chicago North Shore real estate profession.  She calls Glencoe’s Coldwell Banker Residential Real Estate office home-640 Vernon Avenue, 60022….The center of the downtown district.

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Creating a Life Plan to Secure Your Children’s Future – North Shore Chicago Real Estate

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Image credite:Pixabay:jairojehuel

Image credite:Pixabay:jairojehuel

It’s never too early to start thinking about your children’s future. You’ve already made big decisions about the house or area your children will live in or even what school they will attend, and creating a life plan can make it much easier to think of any contingencies that may arise down the road. You owe it to your children to map out your future goals for yourself and in ways which will affect their lives also, so start thinking about it now, even if your children are still very young.

Draw Up a Will

Everyone wants to live to a good old age, but you cannot guarantee this will happen. You never know what’s round the corner, so it’s best to plan your estate now rather than later. Here are some reasons you should make a will now:

  • A will gives you the opportunity to state who will care for your children in your absence.
  • You can use your will to name an executor for your estate.
  • A will allows you to select a trustworthy guardian for your children’s finances.
  • Your will can be a vehicle to enable you to name someone to take care of property for your children.

You can also state clearly who gets what in your will, and provide for any children that may have special needs.

Get Life Insurance

You already probably have life insurance for yourself, and if you’re in a stable financial position, it’s a good idea to invest in life insurance for your children. The main reason you should do this now, is in case your child develops an illness later in life, which could make her ineligible for life insurance. Heaven forbid you should outlive your children, but if this does happen, a life insurance policy will enable you to pay for their funeral expenses.

Save For Your Children’s College Education

College education is not cheap. For the 2016-2017 school year, the average cost of public college was $9,650, it was $33,480 at private colleges. There are several ways you can save wisely for your kid’s college fund.

Evaluate Your Real Estate

Perhaps your 1,300 square foot townhouse works perfectly well for you, your spouse, and toddler, but adding another child or even a pet into the mix could necessitate purchasing a larger home, or at least finding a home with a more flexible layout. Regardless of whether you are adding children and pets, got a job promotion, or suddenly came into some extra money, it may be time to re-evaluate your living situation if your quality of life is suffering.

A 529 Plan

A 529 plan is a savings plan with tax advantages, which is operated by a state or educational institution.  Such a plan can be used to pay for the cost of college education nationwide. In general, the state which your savings plan is from, does not affect your choice of school. This means you can live in Georgia, invest in a plan in California and send your child to school in Michigan. You can check here to see if your college is eligible.

Coverdell Education Savings Account

This is a type of trust account designed specifically for your child’s college education. The advantage of a Coverdell account is that it’s not just for college, you can use your savings to pay for K-12 education tax-free. The main disadvantage of this type of account is that you cannot deposit more than $2,000 per year.

UTMA and UGMA Accounts

These are custodial trust accounts. This means that if you have annuities, bonds or stocks, or cash that you wish to reserve for your children, you can put them into one of these accounts. This is the best option if your child will not need to apply for financial aid.

Creating a life plan is an essential part of securing your children’s future. Don’t let the prospect overwhelm you. Break it down, and build on it gradually. You will also need to review it from time to time and make any necessary changes or updates as your children grow older. When your children are getting ready to leave home and move on to the next stage of their lives, you will be glad that you had everything planned in advance.

Gloria Matlin along with partner Zack Matlin continue to be North Suburban real estate experts with an unparalleled record of top producing, high-ranking accomplishments that span 25+ years. Her keen awareness of the Northern Shore communities and his extensive marketing as well as mortgage consulting knowledge are what make Gloria and Zack Matlin an elite high performing team with a sincere and personalized style they offer each and every client. Gloria Matlin and Zack Matlin educate, tenaciously perform and make Chicago North Shore real estate dreams a pleasant reality! Look to them for guidance on real estate and related matters this summer season 2017!