Atlanta homeowners who are thinking about the pros and cons about putting their home on the market this year may want to look at a few of the latest buying trends in Atlanta, Georgia. The real estate market has been seeing signs of growth in recent months and some predict it to improve as the year goes on. In order to ascertain if you’ll be successful at selling your home, you may want to take an inside look at the most important features that are impacting buyers. Home listings over the course of the year have been studied briefly and have come up some interesting insight. Atlanta buyers are concerned with monthly and yearly expenses, maintenance from previous homeowner and geographic location.
Monthly and Yearly Expenses
Home listings over the course of the year have been studied and noticeably, buyers in the Atlanta area are looking to purchase smaller and more manageable dwellings. During the recession years when property values have gone down, property taxes have not had a similar downturn. Therefore, properties are being over-valued for tax purposes and counties are slow to make re-evaluations. And, to minimize home expenses throughout the year, buyers are looking for homes with energy efficient appliances and heating and cooling units. More and more home buyers who are financially able to buy a home in Atlanta are looking for long term solutions to keeping their monthly expenses low.
Maintenance From Previous Homeowner
Buyers interested in purchasing a home in Atlanta are a little uncertain about the maintenance performed by a previous owner. Many homes have stood abandoned for months and there is reasonable skepticism about the repair history within a home. But, an Atlanta home inspector can be helpful in determining if the home is going to have costly repairs. Home inspection services using certified home inspectors do this by checking the condition and soundness of the home for improper insulation, rundown appliances, flooding in the basement, drafting from windows and leaky faucets. An Atlanta home inspector can tell you how important the latest environmental advances can save the average homeowner money on their monthly bills. More importantly, you can bundle your home inspection service with a termite inspection. Termites have a notorious reputation of destroying older Georgia homes from the inside out, creating major damage along the way. Without knowing if termite infestation is present in your walls, you could be stuck with costly repair bills after the closing.
Geographic Location
Potential buyers in Atlanta are quite conscious of where their new home might be located. Many are opting for commuting options from public transportation and are looking for homes near public transportation stations. Atlanta has limited public transportation and suffers from traffic congestion for commuting employees. Therefore, homes located around public transportation hubs tend to have higher asking prices and smaller square footage footprints. And, with gas prices continuously on the rise, home buyers who are forced to commute are seeking out residences close to where they work. In addition to geographic location from work, Atlanta buyers are concerned about buying a home in a distinguished public school district. Rather than being forced to send their children to private schools, many parents are choosing to live in an area with a credible public school. High schools like Walton High School in Marietta, Northview High School in Duluth and Lassiter High School in Marietta have been recognized as part of the top ten high schools in Georgia, according to U.S. News Best High Schools in 2012.
Many of these Atlanta buying trends are focused on saving money. Newer homeowners do not want their homes to negatively impact their household budgets and create a burden on their current lifestyle. Therefore, they are becoming more selective in their home purchase choices. With mortgage interest rates scheduled to remain low, they are in no hurry to make poor home purchase decisions.
Atlanta Real Estate Buying Trends for 2013
No comments:
Post a Comment