Most Atlanta home buyers do not understand home values. Before a person buys a home in Atlanta they need to have a basic understanding of what is a OK value and what is an exceptional home value! What is a good investment, and what home purchase is a guaranteed loser that will cost them dearly when they go to resell! Atlanta home buyers all to often make a fatal mistake of assuming all homes in a given subdivision are the same price. They are not! For different reasons in a subdivision they just aren't!
In any developement, there are different builders, home features, styles of homes and architecture they all have a unique value! The homes that are EIFS or vinyl siding are not worth the same as the four sided brick home with the 3 car side load garage with a finished terrace level basement! For the EIFIS alone you can deduct 10-15% in price! You really can't compare that home on a slab or a crawl space to the home on a full basement. A home with a two car garage is not worth as much as a 3 car garage. Another item that most sellers never take into account is the placement of the home within the subdivision! A home that backs to a highway has less value than a home inside the subdivision on a level cul-de-sac lot! A home owner or home buyer should also consider the elevation of the lot! Too high a lot with too steep of a driveway is not good, nor is a lot that is below street level ( a low esteem lot!) Other negatives that may affect Atlanta homes values are:
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Deferred maintinance - no upgrades
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Dated or end of life cycle HVAC systems
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Creeks in Yard
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No Backyard
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Short back yards
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Standing water in yard
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Under power lines or too close to power lines
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Flag Lots - shared driveways are frowned upon
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Corner lots offer no privacy - they are not premium lots!
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Designated flood zones
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No privacy lots
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Lack of professional landscaping
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Curb appeal
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Log homes / cedar contempory
- Gas easements
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Sewer lines in yard
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Detention ponds
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Too close proximity to swim / tennis / recreation / playgrounds
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Homes that back to undeveloped land that could be rezoned
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High maintenance exteriors or dated exterior T11 siding, LP,LP, Masonite, Aluminum, cedar shakes,cedar
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Homes in a multi-use area are not worth as much as homes in a homogeneous subdivision with all homes
The best way not to make a mistake when buying a home is have an experienced Atlanta buyers agent assist them and educate them to the Atlanta market!
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