Illinois
Real Estate in Illinois
Last updated on Feb 22, 2023
Summary: A newcomer to Illinois should begin their search by researching the different neighborhoods and cities in the state. They should consider factors such as cost of living, job opportunities, schools, and crime rates. Once they have narrowed down their search, they can begin looking at specific homes for sale. Homes in Illinois typically include amenities such as central air conditioning, updated appliances, and modern fixtures. Many homes also have outdoor features such as decks, patios, and landscaped yards. Some homes may also include additional features such as swimming pools, hot tubs, and fireplaces.
What do I need to know when buying property in Illinois?
When we asked expats what advice they would give a foreigner before buying a property in Illinois, they said:
"1. You should research the area where the property is located and its current market conditions. 2. Before purchasing a property, make sure to have it thoroughly inspected by a licensed and experienced home inspector. 3. It's important to understand the legal process that comes with buying real estate in Illinois, including laws related to financing, title insurance, and tenant rights. 4. Make sure to familiarize yourself with the local property taxes in order to ensure that you are able to afford them long-term. 5. When making an offer on a property, consider its location, condition, and potential future value. 6. Prior to closing, you should obtain insurance that will protect against financial losses due to any hazardous defects that the inspection may have missed. 7. Being familiar with your rights and responsibilities as a landlord or homeowner in Illinois is essential," wrote one expat who made the move to Illinois.
Are foreigners allowed to own property in Illinois?
When we asked expats what advice they would give a foreigner before buying a property in Illinois, they said...
"Yes, foreigners are allowed to own property in Illinois. Non-U.S. citizens are able to purchase real estate in the state, however, they must obtain a valid Social Security Number or an Individual Taxpayer Identification Number in order to complete the transaction. Additionally, they must also provide proof of foreign status, such as a passport or visa. It is important to note that foreign investors may be subject to additional taxes and fees, so it is important to consult with a qualified real estate attorney before making any purchases," said one foreigner living in Illinois.
What appliances are typically included in a rental?
We asked foreigners in Illinois what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Illinois, rental properties generally include a refrigerator, stove, oven, and dishwasher. Some properties may also include a washer and dryer, microwave, and other appliances," explained one person living in Illinois.
Additional Information about Searching for a Home in Illinois:
We asked foreigners in Illinois what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Newcomers to Illinois can search for homes by using online real estate websites, such as Zillow or Realtor.com, to browse listings in the area. They can also contact a local real estate agent to help them find a home that meets their needs. Additionally, newcomers can look for homes in newspapers or magazines, or attend open houses to get a better feel for the area," explained one foreigner living in Illinois.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Other Questions:
- What should I pack when moving to Illinois?
- Where should I setup a bank account in Illinois?
- Will I be able to find a job in Illinois?
- What is life like as an expat in your area?
- What do expats in Illinois appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Illinois?
- Is there a lot of diversity? Are people in Illinois accepting of differences?
- What are the schools in Illinois like?
- How are healthcare services in Illinois?
- What are medical services in Illinois like?
- Are healthcare and health insurance expensive in Illinois?
- What are emergency services like in Illinois?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Illinois?
- How are local medical facilities in Illinois?
- As a foreigner living in Illinois, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
