1. Price and Approval
The first step is to decide on a price that is affordable and have it approved by a lender of your choice. Many prospective buyers have faced disappointment because their loan was not approved. Do not over estimate your loan request and be sure to take the current interest rate into consideration.
2. Look for Homes in your Price Range
When thinking about prices, allow yourself a 10% allowance above and below your desired price. An example is setting a price at $300,000 allowing your range to be from $270,000 to $300,000. This is important to do because:
a) Exceeding your budget on a whim may give you difficulty in payments later down the road, and
b) If you purchase a cheap home, you do not want to regret the purchase if you do find something wrong with it. You will likely get less money if you choose to resell the house.
3. Get Advice on the Area
If you have children, they are more than likely going to be a factor in your decision making. Not only would you want other children around, but you may also want excellent schools near by and a home in a low crime area.
4. Decide in advance on your type of home.
It’s important to determine early on what kind of home you would like, whether it is a condo, loft or even a conventional home. Do you want a yard? How many bedrooms and bathrooms do you ideally want? Once you’ve made this decision it can help refine some of your search criteria.
5. Consider the geography: your workplace and how far you have to commute.
You may want to look at maps to get an idea of where your house will be in relation to the main roads and cities, as well as public transportation or if you need to rely on your car.
6. What are the additional costs: home insurance, taxes, average power bills? How about any immediate moving expenses - have you put these aside?
7. Make sure you know everything included in the sale.
Even if your new home looks amazing, you will want to be sure that items such as lighting fixtures and kitchen equipment are or are not included. It will be additional stress if these details are not solidified before your move.
If you utilize these tips, you will find yourself satisfied with your Atlanta real estate choice. Many people either look for what matches their price range or preference, without taking into consideration the other factor. Some of these houses are foreclosed because the 5% interest rate had increased to 12% over a few years, increasing their monthly payments.
Once you have taken these factors into consideration, it is time to start your search. Where you begin your search depends on your needs. Buckhead and East Atlanta are great for young families as there are many good schools in the area and several family-oriented groups. Not only will your children get excellent education, but they will also be able to make friends around the neighborhood. Transportation to the main parts of the city is also great from this area and many young parents find that their needs are met in this neighborhood.
If you are looking for older and more elegant properties, Chastain Park is the place to begin your search. There are also many condos available in this area. The esteemed Club Chastain and the golf courses in this area is a huge draw to executives who have chosen to move here, and the public schooling in this area is very good.
Decatur is particularly appealing to students as it is near many of the universities in this city as well as a number of recreational facilities. Atlanta real estate caters to all sorts of people who have different needs for their various stations in life. As long as you follow the advice provided, you will have no trouble finding a home that will suit your needs.
