In the last few years, it was smart to buy an Atlanta new home before the subdivision even came out of the ground! Everyone knew this was opportunity time. It was easy to cash in on easy profit and undercut the builder before the subdivision was sold out! It was a no brainer! Atlanta home buyers purchased at the right price before all the price increases, the new phase increase, and got a deal on upgrades. Perhaps on the first few homes, the Atlanta home builders even threw in a lot of extras just to get the momentum of the new subdivision heading in the right direction. Peoplle just can't resist Atlanta new homes! It did not matter that no one was living there for the time being, or that the new home owners would have to put up with construction debris, dust, and loud music from the workes and the sound of hammers banging away on the morning that you would like to sleep in a little later. When you purchase a new home in Atlanta, there were perks in the sense you could get to meet the job handymen, and craftsmen and perhaps ask them to do a little work for you on the side and pay them cash! Those were great times for Atlanta new homes buyers.
Today it may be a different story. Is it a deal if you buy a home from a builder at a reasonable price with steep discounts, closing cost and upgrades galore? Well, right now it may be a gamble! What about the lack of construction? What happens if the builder goes under and you home is not complete? The subdivision you are interested in is supposed to be a 450 home subdivision of single family homes. However there are some warning signs! This is where the phrase "Caveat Emptor" or Buyer Beware is so important! Listen to your gut! There are 20 homes occupied, and 45 are vacant...the rest of the subdivision is overgrown weeds. Have an uneasy feeling in your stomach yet? Do not make a costly mistake an buy a home first doing a lot of research, and without an experienced buyers agent representing you. Negotiate everything, price, loads of extras and closing costs! This is an important time to stop and ask yourself some questions before you buy a home!
- Will the builder finish the subdivision?
- What will happen to home values if the builder doesn't finish?
- Is the swim, amenities, and tennis already in?
- What if the builder sells the remaining lots to another builder? Will it look the Same?
- Is my property likely to make or lose money?
- What if the builder goes bankrupt? Will the foreclosed homes pull down the value of my home?
- What if the builder undercuts your home in price and charges less?
- What if the builder builds a lot smaller homes on the remaining lots? What if they are 1/3 the price?
- Will I be able to sell my home in 5 years and break even or lose money?
- Ask the builder what is the minimum square footage filed witht he county that is allowed to be built in the subdivision? How does that compare to the homes already built? ( It is filed in the master deed! )
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Your post poses some very good questions, and stimulates much thought with your reader... Florida waterfront may still be a safe alternative for the risk takers.
Robert Monk