Is It Better to Rent Or Buy In Atlanta?

That's actually kind of a loaded question, and pretty broad, considering how BIG Atlanta really is. 

And WHAT are you calling Atlanta? If you are in John's Creek, or Alpharetta or Marietta,  you are in the METRO Atlanta area, but not ACTUALLY in the City of Atlanta! 

So, it comes down to numerous factors.

Is It Better to Rent Or Buy In Atlanta?

First off, there are costs associated with owning a home (or condo) that are not associated with renting. From property taxes to HOA fees to maintenance costs....all expenses YOU pay when you own vs. rent, the cost can certainly vary. BUT....how much is the RENT in the area you are looking at? 

It's no secret that rental rates in Atlanta have gone way up. Waaaaaay UP! A 1-bedroom in Midtown Atlanta can easily run $1500-$2000 per month, depending on the apartment building. And 2 bedrooms can push $3,000 a month. That's some serious money for a place you don't own, but are just borrowing!

If you think your job may have you moving soon, or other factors that could keep you in a home less than 3 years, then buying may not be the right choice for you. As much as my business is all about buying and selling homes, I'm certainly going to talk with you about your specific situation and lifestyle and help you make the right decision, even if it means NOT buying. 

I recently came across a pretty cool, interactive tool to help you consider if you should Buy or Rent. It has lots, and lots....did I say LOTS of variables you can plug in, so I do caution you in using it. The link is below.

Is It Better To Buy Or Rent 

Another great way to decide if you should rent or buy, is just meet/talk with one of our Team Lenders! They can run numbers for you (I can provide them details like HOA fees and property taxes on a certain property) and then you can make a comparison between the mortgage payment and the rent payment. 

And then we can talk more about what is the best option for you.