Atlanta Home Buying Advice - Atlanta New Homes | Atlanta Foreclosures | Atlanta Resale Homes

Thinking of buying a home in Atlanta? Here are a few insights. Many time Atlanta home buyers make a fatal mistake of buying with their emotions instead of having a plan. The mistake isn't just one of impulse.... it could have major implications especially when a budget is the issue. This is especially true of the current market we are in. Many persons look at buying Atlanta foreclosures thinking that is where the bargain is..perhaps it isn't. This Atlanta real estate market is driven by the media that is hyping Atlanta foreclosures, Atlanta short sales, and lackluster new home sales. They neglect to talk about the Atlanta homes that are not distressed properties, but the sellers are motivated. These Atlanta homes are some of the best buys out there. We refer to them as "Resales," and the media refers to them as 'existing home sales.' Why are these a great buy? Many times someone has just decided they need to cut their losses and move on. How can they do this? It is called "Motivation!" The have cut the emotional umbilical cord form their home, and their main objective is to sell their home in Atlanta. More often than not, many of these homes were purchased many years ago and the original owner is selling. The homes were not rentals, but cared for lovingly, and may have many upgrades, a new roof, a new hot water heater, hardwood floors through out, and a new HVAC system.

When you compare this to an Atlanta foreclosure that may have been sabotaged by the previous owner or a foreclosure that is missing plumbing, roof, has severe mold issues and is sold "AS IS!" Buying a re-sale home in good condition that starts to make sense. The cost of a putting on a new roof, removing rodents, replacing carpet, padding and flooring, installing new hot water heaters, mold remediation, sewer lines, water issues, plumbing issues may be a major issue and expense that must be considered when buying a home. A resale home can be moved into immediately after closing and you can live happily ever after. A foreclosure may not be able to be occupied for sometime after the sale. Repairs can be underestimated, you must consider repeated vandalism.

Atlanta new homes on the other hand can be loaded with a lot of hidden costs. Many times new homes start off with a dream that turns into an expensive nightmare called reality. Atlanta new homes always start with a base price and then there are options. The sad thing is that many times, everything is an option. Lighting fixtures, flooring, padding, door bell chimes, appliances, paint colors, decks, fireplaces and bay windows can really add up to a new hefty number. Another major disadvantage is if you build a new home in Atlanta. Many buyers view this as an adventure but will soon find out it isn't quite that much fun. In the first place there are permits to consider, brick and paint colors, weather and construction delays, interest rate fluctuations, and the quality of the work that is performed.. You must also consider the economy in relationship to new homes in today's market. What if the builder goes bankrupt when he is 4 months into building your home and files for bankruptcy? What happens to the earnest money, and options money? This is something that is not a remote possibility, because it is a common occurrence in Atlanta real estate these days.

The smart thing to do is discuss your needs with a very experienced Atlanta buyers agent that has worked with buyers in bad markets before. Share your concerns and listen to their advice. Financially, you may come out way ahead.