Homebuyers Guide to Illinois New Home Construction

Gerstad Builders understands that purchasing a home can be stressful and often confusing! Transition from buyer to owner in 2024 by familiarizing yourself with everything you need to know to purchase a new construction home in Illinois. To ensure you secure the dream of homeownership, our team compiled an easy-to-read guide that outlines all Illinois homebuyer requirements!

Equipping Yourself for Homeownership

people sitting down to go over Illinois new construction purchase requirements

Every successful life transition needs a checklist and purchasing a home is no different. Here’s a breakdown of the essentials needed as an Illinois homebuyer:

First-time Purchaser: The Prairie State offers valuable down payment assistance programs to help you qualify for a home loan. Understanding Illinois homebuyer requirements is crucial for securing this assistance. Here’s what you’ll need as a first-time buyer:

  • A credit score of at least 40
  • A completed first-time homebuyer education course
  • Pre-approval for your mortgage through the Illinois Housing Development Authority (IDHA)
  • Met income limits set by your county
  • A healthy debt-to-income ratio of 45% or below

Repeat Buyers: The process may be familiar, but it’s still crucial to check off these items:

  •  Establish a realistic budget
  • Secure pre-approval for a mortgage
  • Partner with a trusted real estate agent
  • Select a home plan that reflects your family’s needs and explore available Gerstad Builders models and neighborhoods.

From Offer to Closing: Securing Your Dream Home

Once you’ve found the perfect residence, it’s time to make it yours! This stage involves submitting a competitive offer and working toward closing the sale. Remember, prioritizing a healthy credit score, maintaining a strong savings plan and organizing your loan paperwork can significantly streamline this process.

Beyond Aesthetics: Building a Functional Haven

Gerstad Builders New Construction Requirements home interior with kitchen island and view of living area

Your new Gerstad home should look stunning and function seamlessly for your lifestyle. Here are some additional considerations to ensure your home solves problems:

  • Tech-Savvy Solutions: Explore using smart TVs with upgraded Wi-Fi antennas or a wired data line for a stable connection in high-demand areas. Click here to learn more about SMARTech in your Gerstad Builders home!
  • Effortless Maintenance: Select countertop and flooring options that promote easy maintenance! The Gerstad Builders design center and team are ready to help you select the perfect options to fit your design dream!
  • Liveability Matters: Choose a floor plan that complements your lifestyle. Laundry room location, kitchen layout and overall flow are all crucial factors. Remember, your abode is a place to live comfortably, not just a beautiful backdrop.

Dive into our Design Feature series to learn more about fireplaces and the four seasons room showcased in select Gerstad Builders floor plans.

Follow along on social media and explore our Find Home page to learn more about new construction opportunities in McHenry, Williams Bay and Poplar Grove.

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