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Buying a home now

By Terry Savage on May 16, 2020 | Housing / Real Estate

Hello Terry
I was divorced last Sept. and was looking to move out of IL with my son to be able to afford buying a home. (I.e. IL taxes and weather) We found a nice one to purchase in Az, but come April lost that possibility due to the pandemic.
What do you recommend on buying a home now whether here in IL or out of state?

Should we wait to see what happens with the economy and of course property taxes in IL, or jump on something here because prices are going down and the interest rate for a mortgage is low? Or go back to looking in Az even though we can’t get there yet?
Not sure if better to wait until later in summer or fall or just forget about until next spring.
Now continue to just pay rent (and pack). Thank you!

Terry Says

Well, to be honest, if you have a choice I would NOT buy a house in Illinois. Every tax is going UP. If you don’t have to live in Illinois for a job reason, and know you want to be somewhere else, look now. Some sellers may be desperate, rates are low, and the HOT season in Arizona is coming — so many sellers want out before that happens! If you can swing it, go for it!

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