Homes For Sale Under $700,000 in Northwest Indiana

If you’re looking at homes for sale in Northwest Indiana for under $700K, you’re in luck. Homeownership is common in this region, with approximately 71% of households owning their own homes. You’ll find great neighborhoods, communities, and home styles that match your lifestyle. You can find affordable housing with mostly single-family homes, along with condos and townhouses. With a range of square footages, these homes come in varying styles, bedroom options, and finishes.

Identifying Your Preferred Home Type and Style

Choosing the right type of home is a personal decision. Ideally, you want your home to fit your current needs, as well as accommodate you in the future. As you explore real estate in Northwest Indiana, consider your long-term goals. If you want a yard and plenty of space, you may like a single-family home. If you love traveling, need flexibility, or are downsizing, a townhouse or condo may be a better option. Here’s a sampling of the types of homes you’ll find across Northwest Indiana.

Single-Family Homes

Single-family homes abound throughout Northwest Indiana. These properties often have yards, garages, and ample living space. You’ll find charming ranches and two-story houses in towns such as Crown Point, Valparaiso, and Hobart. Many homes in this price range come with multiple bedrooms, modern kitchens, spacious living areas, and finished basements. These are ideal for people seeking extra space, such as families, self-employed entrepreneurs, or people with big hobbies.

Townhouses and Condos

If you prefer a convenient and low-maintenance lifestyle, townhouses or condos are excellent options. These homes often appeal to working professionals, first-time home buyers, or those looking to downsize. Some popular features in this market include:

• Open-plan living spaces with modern interiors
• Attached garages, fitness rooms, or swimming pools, in some developments
• Two-to-three-bedroom condos are available in places such as Marina Shores and LaPorte, with a typical price range of $190K to $450K, depending on their size and finishes

It’s common to find new construction townhomes with floor plans that exceed 2,200 square feet, en-suite master baths, and services provided by the homeowner’s association. The services can include lawn care and snow removal, which lets you enjoy the perks of homeownership with ease of living.

Top Neighborhoods in Northwest Indiana With Homes Under $700K

If you’re looking at homes for sale for under $700K in Northwest Indiana, you’ll love several neighborhoods with convenient freeway access, good public schools, and recreational activities. One of the biggest perks of Northwest Indiana is a perfect balance between a small-town vibe with a strong sense of community and easy access to Chicago for work or weekend fun. The commute is manageable, so you can enjoy nature and a quieter lifestyle.

Here are some popular options: 

• Valparaiso: It’s prized for its top-rated schools and charming downtown area. You may like it if you value neighborhood connections and a sense of community. 
• Munster: This area boasts excellent amenities and a strong sense of community. Its great parks, libraries, and recreational centers keep families active and engaged year-round. 
• Crown Point: This is a great place if you admire historic buildings. The courthouse square is a special place that hosts seasonal festivals and farmers markets and exudes classic small-town charm.  
• Schererville: It attracts buyers with affordable houses and convenient access to highways. The community provides good schools, green spaces, and plazas for casual family outings. 
• St. John: This neighborhood is known for its family-friendly subdivisions and parks, which make it ideal for outdoor activities and community gatherings. St. John residents enjoy a calm suburban life with plenty of green spaces.

Cost Considerations and Budgeting for Buying a Home

Becoming a homeowner comes with certain upfront costs and expenses that you should be aware of.

Upfront Costs and Ongoing Expenses

Depending on the type of loan you’re taking out, you should expect to make a down payment of 3%-20% of the final purchase price. For example, if your home costs $300K, a 10% down payment would be $30K.

Additionally, closing costs typically amount to about 2%-5% of the home’s price. Closing costs cover appraisal fees, inspections, title insurance, and lender fees. There’s also an earnest money deposit of 1%-2% to show your commitment when making an offer. Earnest money usually goes toward your down payment or closing costs once the deal closes.

Tips for Securing Affordable Financing

We’ve listed some tips to help you secure financing for your dream home:

• Know your credit score: Check your credit report and resolve any errors or outstanding debts before applying for a mortgage. If you’ve got a higher credit score, the interest rates might be lower for you.  
• Explore loan options: Look into loans from the Federal Housing Administration, Veterans Affairs, and United States Department of Agriculture. If you’re a first-time buyer or veteran, you might qualify for a lower down payment and lower rates through these agencies.  
• Get preapproved: A preapproval letter stating your qualified loan amount can help you when looking for houses. Sellers appreciate buyers who’ve already taken this step.  
• Budget for upfront and hidden costs: Be sure to factor in property taxes, homeowner’s insurance, closing costs, and possible homeowner association fees. 

Why Build With Steiner Homes?

Steiner Homes is a family-owned business with 30 years of experience turning dream homes into reality. We offer customized designs by working closely with you from the initial concept to the final build. By using modern technology, such as AutoCAD, our floor plans stay fresh and adaptable.

Contact Steiner Homes To Get Started Today

 If you’re ready to find a place that feels like home, Northwest Indiana could be the perfect spot. At Steiner Homes, with offices in Portage and Valparaiso, Indiana, we’re here to help every step of the way. Contact us to begin your journey to having a custom home.