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Move To The…, Home Buyer in Chicago, IL

Looking at Hinsdale

Asked by Move To The Burbs, Chicago, IL Thu Feb 19, 2009

I like a few of the older Victorian / Queen Anne homes on the Hinsdale market but worry about upkeep,heating/cooling, etc. What are some of the watch outs for homes like these? Also they have been on the market a long time. If I need to relocate - would we find a buyer?

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Hinsdale does have a few beautiful Victorian type homes on the market. They have been on the market a long time partially due to bad market conditions as well as being overpriced when they first went on the market. Price reductions between $400,000 to $600,000 now make these homes much more tempting. We have an older home with a mix of gas forced air & radiators - the radiators win hands down! We have a space pak in our attic for cooling that works fantastic. Make sure the major mechanicals have been updated - heating, cooling, plumbing (make sure water service pipe that connects to main is copper), electric (your home inspector will be able to tell you if it is up to code), insulation. If you need to relocate within 1-2 years, in this market it would be difficult no matter what you buy. However, I do think that at these low prices, you should be fine with these Hinsdale beauties!
1 vote Thank Flag Link Fri Feb 20, 2009
I think you have a legitimate concern. I would have the home seller include a home warranty with the sale to deal with any short term heating/cooling problems that may arise. Also, with any older home you will run into upkeep problems and things you will want to change. I would have some funds set aside for this and include it in my buying budget.
When the housing market stabilizes I think you will see the market times coming down to a reasonable level. But seeing long market times now is a fact and I would only make offers that address the relocation issues. If you are set on your older Victorian/Queen Anne home you might also look at Downer's Grove, the price point might help in your relocation fears.
2 votes Thank Flag Link Fri Feb 20, 2009
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