Homebuyer FAQs

What You Need to Know


Whether you are a first-time homebuyer or have plenty of experience to draw on, it’s likely you have some questions about the process. We want you to be excited about your move. That’s why we put together a few frequently asked questions that will help you along your journey.

Why should I work with a Mainstreet REALTOR®?



A Mainstreet REALTOR® is a licensed real estate professional belonging to the National Association of REALTORS® (NAR). NAR is a real estate trade association that requires all of its members to follow a 17-article Code of Ethics. This means that your REALTOR® is required to have your best interests in mind.


Through NAR, state associations and regional associations like Mainstreet Organization of REALTORS®, REALTORS® have access to continuing education opportunities and the Multiple Listing Service (MLS). Using the MLS, your REALTOR® can provide the most accurate and up-to-date housing data available during your house hunt.

Hugging couple looking at new home

What are some of the benefits of homeownership?


Homeownership helps you build equity, allows you to qualify for mortgage interest deductions and can reduce your taxable income, among other benefits. Long-term, owning a home can also be significantly cheaper than renting.


What should I expect when making an offer?


Every home closing is different. In general, you'll work closely with your REALTOR® to put an offer on the table that has a chance of getting accepted. If the market is competitive, you may need to be prepared to make an offer the day you tour the home. It is also possible that you will need to make a few counter offers or negotiate with the seller before closing on a home.


Once your offer is accepted, you will need to get the home appraised and go through a home inspection. The appraisal will tell you the value of your new home and you may enter another round of negotiation if you initially agreed to more than the appraised price. Similarly, if your inspection shows any issues with your home, you may be able to negotiate so that the original owners pay for some of the repairs. After your offer is accepted and you finish settling your terms with the seller, your REALTOR® will make the closing process as simple as possible.


What should I know about credit and down payment assistance?


Your credit score will inform what loans you can qualify for, and this may impact your chances of closing on a house. Credit scores range from 300 to 850. Typically, taking out a loan for a mortgage will require a score above 500. However, it is possible to take steps to improve your credit score, as well as to qualify for loans with a lower credit score.


There are many different avenues to get down payment assistance and qualify for a loan. Options include loans through the Federal Housing Administration (FHA), the U.S. Department of Agriculture (USDA), and the U.S. Department of Veterans Affairs (VA).


What are my loan options as a veteran or an active member of the military?


A VA loan is provided to veterans, active members of the military and their families by the U.S. Department of Veterans Affairs. VA loans are typically associated with a lower interest rate and do not require a minimum credit score. The VA can also help veterans negotiate and provide assistance if you default on a loan. Learn more about the resources available to service members and veterans.


What is homeowners insurance?


Investing in homeowners insurance is key to protecting your home against the unexpected. While it is not required that you purchase insurance on your home, it is possible that your loan will be contingent on purchasing insurance. There are many different companies that offer homeowners insurance, and you should ask your REALTOR® about your options.


When is the best time of year to buy?


This varies depending on the housing market. Typically, buyers who are willing to search for a home in the colder months of the year will have less competition when purchasing a home.


Do you recommend any resources for ideas on home improvements?


Yes! HouseLogic is designed by REALTORS® and has great ideas for improving your home. If you already have a sense of the changes you want to make in your home, use Mainstreet REALTOR’s Affiliated Partner Search to find the people who can help you make them.


Should I use a buyer’s agreement?


If you are working with a REALTOR, yes you will need to sign a written agreement with your REALTOR before viewing residential property listed for sale. In January 2025, you will need to sign a written agreement with any Illinois real estate licensee for residential sales and leasing as well as commercial sales and leasing.  While seller's agreements have been commonplace for residential transactions, buyer's agreements are equally as important. Written representation agreements empower consumers with additional choice and transparency when buying and selling property. Typically, brokers are not paid until a home is sold.


What do I need to know about changes to home buying as a result of the recent NAR settlement?


There is a great deal of misinformation about the NAR settlement and its impact on local real estate consumers, so please proceed with caution when turning to the media or real estate influencers for updates. Instead, we recommend visiting this FAQ page for more information.

By Amy Robey July 16, 2025
Outdoor entertainment in the Chicago suburbs is easy to find; if you know where to look.
By Amy Robey July 16, 2025
As the mercury rises and summer break stretches on, families across Chicagoland begin their annual search for the perfect place to cool off and create lasting memories. While the city offers its fair share of beaches and pools, many suburban families are discovering that Chicago suburban pools and water parks provide unparalleled amenities, shorter lines and a more relaxed atmosphere that makes summer days truly special. For families with young kids or those considering a move to the suburbs before the new school year begins, the quality of local aquatic facilities can play a role in the decision-making process. After all, easy access to exceptional swimming and water recreation can transform those long summer days from mundane to magical, while providing parents with peace of mind about safe, supervised activities for their children. In this post, we’re breaking down everything you need to know about water recreation in the Chicago suburbs. The Suburban Advantage: Why Chicago Suburb Pools Lead the Pack Chicago's suburban communities have invested heavily in their aquatic infrastructure, creating facilities that rival private clubs at a fraction of the cost. These Chicagoland water parks and community pools offer amenities that urban facilities simply cannot match due to space constraints and budget limitations. From lazy rivers to competitive lap pools, climbing walls to children's splash zones, suburban aquatic centers have become true community gathering places that strengthen neighborhood bonds while providing world-class recreation. The benefits extend beyond just the facilities themselves. Suburban pools typically feature ample parking, shorter wait times and a family-friendly atmosphere that encourages multi-generational enjoyment. Many also offer swimming lessons, water aerobics classes and special events that turn a simple pool visit into a comprehensive recreational experience. Naperville: The Gold Standard for Suburban Chicago Summer Activities Naperville's Centennial Beach stands as perhaps the crown jewel of Chicago suburban water recreation areas. This historic quarry-turned-aquatic-paradise features a massive swimming area with sandy beaches, diving boards and separate areas for different skill levels. The facility's unique history – it was once a working quarry – gives it a distinctive character that sets it apart from typical municipal pools. The city's commitment to aquatic excellence doesn't stop there. Naperville also operates the Fort Hill Activity Center, which houses an impressive indoor aquatic facility perfect for year-round swimming. With its lap pools, therapy pools and family recreation areas, Fort Hill demonstrates how suburban communities can provide comprehensive aquatic programming that serves residents of all ages and abilities. Schaumburg's Wet and Wild Adventures Schaumburg Township has earned recognition for its exceptional aquatic facilities, particularly the Spring Valley Nature Center and Heritage Park. The township's approach to water recreation emphasizes both fun and fitness, with facilities designed to accommodate everything from serious swimmers to families seeking casual recreation. The community's investment in these facilities reflects a broader commitment to quality of life that attracts families from across the region. Schaumburg's pools feature modern filtration systems, accessibility accommodations and programming that keeps families engaged throughout the summer season. Wheaton: Where Community and Recreation Converge Wheaton's Memorial Park Pool Complex exemplifies how suburban communities can create aquatic destinations that serve as true community centers. The facility combines traditional pool amenities with modern features like splash pads, water slides and dedicated areas for different age groups. What sets Wheaton apart is its integration of aquatic facilities with broader park amenities. Families can easily transition from pool time to playground activities, sports fields or picnic areas, creating full-day recreational experiences that build strong community connections. The Western Suburbs: Hidden Aquatic Gems Moving further west, communities like Glen Ellyn, Lombard and Downers Grove have developed aquatic facilities that rival anything found in larger cities. These Chicagoland water parks may be smaller in scale than major theme park destinations, but they offer the perfect balance of excitement and accessibility for families seeking regular summer recreation. Glen Ellyn's Lake Ellyn Park provides a unique combination of swimming and natural beauty, while Lombard's Paradise Bay Water Park offers thrills like water slides and a lazy river in a family-friendly environment. Downers Grove's facilities emphasize both recreation and fitness, with lap swimming, water aerobics and competitive programs that serve active families year-round. Northern Suburbs: Excellence in Aquatic Programming The northern suburbs have distinguished themselves through innovative programming and facility design. Communities like Arlington Heights, Mount Prospect and Des Plaines have created aquatic centers that function as true community hubs, offering everything from infant swim classes to senior water aerobics. These facilities often feature unique amenities like therapy pools, climbing walls and specialized areas for different activities. The programming extends beyond simple pool access to include swim teams, diving clubs and water safety instruction that helps families make the most of their aquatic investments. Making the Most of Suburban Aquatic Facilities Families considering a move to the suburbs that value hot summer fun should evaluate potential communities based on their aquatic offerings and how well these facilities align with their lifestyle needs. Consider factors like: Proximity to home : The closer the facility, the more likely your family will use it regularly Season pass costs : Many suburban facilities offer affordable season passes that provide excellent value for active families Programming options : Look for facilities that offer lessons, camps and special events that match your family's interests Hours of operation : Extended hours and weekend availability can make a significant difference in accessibility Additional amenities : Concessions, parking and nearby parks can enhance the overall experience. The Investment in Community Quality of Life These exceptional aquatic facilities represent more than just places to swim – they're investments in community quality of life that pay dividends in property values, family satisfaction and neighborhood cohesion. Suburban communities that prioritize these amenities often see higher property values and stronger community engagement, making them attractive options for families planning long-term moves. Planning Your Summer Suburban Adventure As summer reaches its peak and families begin thinking about the upcoming school year, there's no better time to explore what Chicago's suburban communities have to offer. Whether you're seeking the excitement of water slides and splash zones or the tranquility of well-maintained lap pools, the suburbs provide options that can transform your family's summer experience. The combination of exceptional facilities, reasonable costs and strong community programming makes suburban Chicago summer activities particularly attractive for families seeking a balance of recreation and relaxation.  Ready to dive into suburban life? Browse homes within walking distance of these summer hotspots here on Chicagolandhomes.com , and discover how the perfect pool or water park could be just around the corner from your new home. Your family's best summer memories might be waiting in a community you haven't yet explored!
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