Get a Five-Acre Horse Farm in Barrington Hills for Less than $500,000
The farmhouse aesthetic has flourished in the last several years, with rehabbers and homeowners trading aging finishes for reclaimed wood, undermount sinks, and flat white walls and cabinets. But why pay for imitation when you can get the real thing just a train ride away from Chicago?
In the suburban village of Barrington Hills, you can find a home that feels reminiscent of a rural retreat. The area is known for its five-acre minimum zoning mandate for residential properties, making it friendly to homeowners who want to keep horses and other types of domesticated animals (like alpacas, for instance).
So, how much will a small farmhouse and barn in Barrington Hills cost you? There are actually a number of options well under $1 million. Here’s a look at what’s on the market.
To read the full article in this month’s Chicago Magazine, click here.
One problem, the real estate taxes could choke a horse:
Modest home at $499,900 will buy a property tax bill of $18,348.
With 20% down, annual mortgage payment would be about $24,000.
Moving on up, $899,000 will buy a property tax bill of $32,150.
With 20% down, annual mortgage payment would be about $43,000.
No wonder the kids aren’t standing in line to buy in the Village.
Sorry to put a damper on the excitement!