Yes, It’s Hard. No, That Won’t Stop Us.
Buying Real Estate Is Hard. But We Can Do Hard Things
No matter how many headlines we see about interest rates, the housing market, or whether we will finally see rates drop a bit this year, the reality is this: buying real estate has always been a challenge. And right now? It absolutely can feel harder than ever.
For what it's worth, I don’t think we’ll see rates dip too much lower this year, but we’ll see. Alec and I actually refinanced earlier in 2024—just six months after closing on our home in December 2023 (not the usual timeline but when you see a dip below about 1-full point, you jump). When the timing was right, our lender immediately reached out, and that’s how it should work. A good lender will guide you through the best opportunities, whether you’re refinancing or buying for the first time.
But let’s talk about the actual process of buying real estate. Because for a lot of people, the biggest hurdle isn’t just mortgage rates—it’s everything leading up to that moment where you actually own a piece of something valuable.
Why Real Estate Is the Ultimate Asset
The reality is, if you want to build wealth, you have to own things that go up in value. Assets. Think stocks, businesses, art (if you know what you're doing), and of course my favorite—real estate.
Historically, owning a home has been one of the most reliable ways to build financial stability. But here’s the kicker: home sales are at the lowest levels since 1995. And the people buying today look very different from the homebuyers of past generations.
The median first-time homebuyer is now 38 years old.
First-time buyers made up just 24% of purchases last year—a record low.
All-cash buyers (those lucky ones) have surged to a record 26% of the market.
And nearly three-quarters of buyers last year didn’t have kids under 18 living at home—also a record low.
So… what does all of this tell us?
More and more people—especially younger buyers and families—are being priced out. Instead of locking in their housing costs with a 30-year mortgage, they’re stuck renting, exposed to the never-ending cycle of rent increases. Annoying, I know.
And rent inflation? It’s very real, especially here in the Chicagoland area.
How Do You Actually Break Into Homeownership?
If you’re feeling like the barrier to entry is getting further and further out of reach, I get it. I really, really do. But this is where we can get strategic. The traditional "buy a single-family home" route isn’t the only way in. One of the smartest moves first-time buyers can make right now, (a move I’m still kicking myself about not doing ourselves) is buying a 2–4 unit building.
Multi-unit properties are an incredible way to break into homeownership because:
They have significantly less competition.
They come with better lending incentives—including lower down payments.
You can qualify more easily since rental income can help offset your mortgage.
Do you have to live in the building? Yes, for a bit. Do I hear all the time that people don’t want to live in the same building as tenants? Also yes. But if you can do it for two years, you’ve just built an investment that can generate long-term wealth, while living for way less than you'd pay renting.
And in the meantime, you learn how to be a landlord on a small scale—which is something I wish more people realized isn't as intimidating as it sounds.
Overcoming the Mental Hurdle
The biggest barrier for most people isn’t just the financials—it’s the mental load of buying a home.
Saving for a down payment, getting pre-approved, combing through listings, navigating the mortgage process—it’s a lot. And because it feels so overwhelming, I see a lot of people just sit on the sidelines longer than they need to.
So let me tell you something: buying real estate is never going to feel easy. Whether you’re a first-time buyer or an investor closing on your tenth property, there’s always going to be stress, uncertainty, and moments where you question if you're making the right decision.
And as cliché as it may sound, that’s where having the right team in your corner makes all the difference.
As a Realtor, my job isn’t just to help people find a home. It’s to help people actually get there. To connect them with the best lenders. To make sure they understand their options. To de-mystify the process so they can confidently take the next step. So if you’re in the trenches right now—wondering if homeownership is actually possible for you—please just know that it is. You can do it. We can do the hard things in life.
And when you're ready to take that step, I’ll be here to help you figure out how.
2-4 Unit Properties I’m Eyeing Right Now:
10 E Harding Ave: Listed at $799,900. Well-maintained two-unit building in La Grange Park with over 3,800 sq ft of living space.
1041 S Oakley Blvd: Listed at $895,000. Gorgeous fully-remodeled brick Victorian 2 flat + nonconforming garden unit nested on the premier tree lined street in the up and coming Medical District/Tri-Taylor area.
2134 Shakespeare Ave: Listed at $625,000. Nestled in the heart of Bucktown, the 2-flat has been completely remodeled in 2024. Steps from Bucktown/Wicker Park shops, restaurants, nightlife, the 606 Trail, the CTA Blue Line, and the Kennedy Expressway.
Single-Family Homes I’m Loving Right Now:
23921 W Lockport St: Listed at $385,000. So much potential in this 4-bedroom 2-bathroom designated historic landmark in downtown Plainfield.
1412 Hatchwood Ct: Listed at $1,100,000. Great 4-bedroom 4.2 bathroom Naperville estate on a quiet cul-de-sac that backs to the Green Valley Forest Preserve.
+ a few others I looooooove, but sadly I can’t share these here because they’re only privately listed as of now. So just let me know if you're looking for anything specific, and I’ll keep an eye out for options that fit and let you know!
