Investing in real estate is an established and effective way to accumulate wealth and, potentially, develop passive income streams. Whereas there are several real estate options, multifamily homes can be attractive. A 2019 American Housing Survey and the U.S. Census Bureau survey stated that 31.4% of houses in the United States are multifamilies. That equated […]

The decision to purchase property can be made at any moment, even if you are not yet financially able to do so. This commitment may be the catalyst to revise your budget to align with your long-term goals. Those living in the Chicago area may also realize they can invest in several types of property […]

In 2019, Business Insider published an article stating, “Marriage is also taking a backseat as homeownership takes on more significance in millennials’ lives…homeownership is more important than other major life goals and events, like getting married and having children.” Several factors are at play here, such as marriage rates declining and rent prices increasing steadily. […]

Getting our clients to the closing table is one of the more rewarding elements of serving as an attorney involved in real estate transactions. The process begins when potential homebuyers visit an open house and envision the lives they can build there. Dreams turn into reality when their offer is accepted. Though that is a […]

Sellers should know this when they put their home on the market, but it can give buyers peace of mind. During the due diligence period, buyers are given enough time to inspect the property to understand potential issues with the home they intend to purchase. Anyone who has gone through this will attest to how […]

Regardless of how much the interest rates fluctuate, people will continue to buy and sell homes. Our previous blog explained how interest rates directly affect home values. As interest rates increase, home values decrease because consumers have to commit more of their monthly budget to pay interest. Some buyers may hesitate to enter the housing […]

When you go to Airbnb’s website, you will see that they strongly recommend that you understand the laws that apply to your “…city, county, state, province, territory, and/or country (your ‘jurisdiction’).” They also specifically state that they do not offer legal advice. With that said, it is crucial to understand that even though you may […]

Condominiums appeal to many homebuyers. Younger people may gravitate toward them because condos could be less expensive than a house; others simply enjoy that they aren’t entirely responsible for the repairs and upkeep associated with the property’s exterior. The latter comes at a cost that will materialize through a Homeowners’ Association’s (HOA) monthly dues and […]

Whenever the topic of buying homes comes up, someone in the conversation will likely talk about interest rates. Don’t be upset or hard on yourself if you aren’t aware of why and how interest rates impact the real estate market. Some people have bought several homes and can’t fully articulate how these two things correlate.  […]

In the past, we discussed what encumbrances are and how they can surface during your due diligence period. We went over liens, easements, deed restrictions, and licensing issues. These are things that you should discuss with your attorney during the home-buying process, and it highlights the importance of having legal counsel. One of the things […]