Home Sweet Home
Big news, blog friends – I’m a homeowner! A condo in downtown Chicago, to be specific. It’s been in the works for a while, so I’m thrilled to be able to share the news! Most of my free time over the last few months was spent poring over home listings and taking a crash-course in real estate. Although I was a first-time home buyer, I had a vague idea of what I was getting myself into based on the countless hours I’ve spent over the years watching House Hunters on HGTV. Thankfully, I didn’t have to rely on reality TV alone, as I have a plethora of friends and family members who are homeowners, all of whom gave me great advice as well.
You may be wondering why someone would want to buy a place after living in a new city for just a few months. The truth is that I’ve been wanting to buy a place for a quite a while now. Needless to say, this would have been extremely difficult (if not impossible) for me to achieve in New York, so living in a city like Chicago, which has significantly lower home prices, made this a possibility. On the topic of finances, Chicago is an interesting market because the cost of rentals are relatively high compared to the cost of buying (in other words, my mortgage would actually be less than what I’d pay to rent a comparable space). Given the recovering real estate market and the low mortgage rates, it just made sense financially. But more importantly, I really love Chicago! Does this mean I want to live here forever? It’s definitely too early to make that call, but it’s where I want to be right now, and I always have the option to sell or rent if the need (or wanderlust) arises.
For now, I’m sitting in a beach chair in my new living room, surrounded by an array of boxes waiting to be unpacked. That will all get done eventually, but thankfully, the wifi has been set up (hello blog!) and my new mattress has arrived, so can I dream of new furniture and paint colors. I’m just so freaking excited to have my own place! Not to mention the pride that comes with homeownership; it’s very rewarding to have accomplished something so momentous – and all on my own, too. More details and pictures to come!