Preparing to buy a home is an exciting venture. There are many considerations in searching for your dream house. Whether you are a first-time home buyer or moving from one home to another, finding that perfect new home takes a little time and planning. With an experienced group like
Doyle + Goodrowe Curated Living, discovering the right fit is easier than ever.
Midtown, Georgia,
has one of the city’s fastest-growing populations thanks to its vibrant community, reliable transit, and over 300 acres of lavish green spaces and parks. With dynamic nightlife, fun family activities, and arts and cultural events to keep residents busy. In addition to the many recreational opportunities in Midtown, there are a variety of excellent neighborhoods from which to choose. If you are searching for Midtown homes for sale, we have listed some factors that may help you prepare.
Location, location, location
We have all heard the famous real estate quote, “Location, location, location.” When beginning the home-buying journey, the home’s location may be the most critical factor to consider. There are “good” locations, “not-so-good” locations, and, frankly, “bad locations.” Judging the worth of the location depends on crucial questions:
- Is the area highly developed, or might there be future developments that could depreciate the home’s value?
- Does the neighborhood have the amenities you want?
- Is the lot near a busy highway, train station, or airport, or is it in a residential area?
- Is the location near good schools, hospitals, shopping centers, or commercial developments?
If you plan on buying your forever home or staying in it for any length of time, it should feel comfortable and fit your lifestyle. If you appreciate a peaceful environment, a vibrant neighborhood may not be a great choice. Alternatively, a secluded area may not work for you if you thrive on community involvement and social interactions. Deciding on the best location for you can determine which homes to begin your search.
Price
When looking at a home's listing price, there are some essential aspects to consider. Interest rates will not be an issue if you are making a cash payment. However, if you are taking out a loan, the down payment you can afford will affect your monthly expenses. If you can make a 20 percent down payment on the house you buy, you will save money by
avoiding mortgage insurance payments.
Looking at the different homes you are interested in and deciding on a price range will allow you to consider down payment options. A
mortgage calculator will consider interest rates and down payment information as it crunches numbers. You can easily find your monthly payments with various down payments and house price data.
Condition of the home
While some people love the idea of buying a fixer-upper, others want a home that is move-in ready. When you begin your search, you may find both types of homes. While an older home that needs some renovation may save you money initially, there will be costs to consider later. A house in excellent condition will save time and effort, but the up-front cost will be more.
When buying an older home, aside from the structural or cosmetic work you will have to do, it is essential to consider the appliances' age and condition. If bigger appliances, like the refrigerator, stove, air conditioning unit, or furnace, must be replaced, the cost can quickly climb. The benefits, though, are that you can customize things, the taxes will be lower than on a new home, and you may have less competition with other buyers.
Looking at new
Midtown real estate is exciting. There are many gorgeous homes from which to choose. While the initial cost and taxes will be higher, you can move in and begin enjoying your new home immediately. An experienced real estate agent can help you find just the right home, whether you are looking for a brand-new house or one that may need some renovations.
Local market indicators
A housing market indicator is a set of data that gives a perspective into how residents live and pay their mortgages. Understanding the affordability of the homes in the neighborhood you are searching for and the number of delinquent mortgages will provide insight into how high the home prices are and how healthy the economy is. These indicators can also inform you of how competitive the local housing market is.
Finding information about the local real estate market can be done while conducting online home searches. You can quickly gain valuable information by typing “trends in the Midtown, Georgia, real estate market” into your search engine. Your
local real estate agent is even more well-versed in the local market and can quickly give you the market information you need.
Resale value
If you plan to live in your new home for the rest of your life, resale value may be insignificant. However, if you plan to relocate later on, resale value is significant. There are several ways to determine if your new home will have a favorable resale value.
Location
In
up-and-coming neighborhoods, home prices are rising. Those who invest now will be rewarded in the future. As more people move into an area like this, the housing prices and values will increase, giving you a greater resale value.
Local schools
Whether or not you have children, the rating of the local schools will play an essential part in attracting future home buyers. People often research local schools before making a move. If your new neighborhood has high ratings, that will make your home more desirable.
Curb appeal
If your new home looks great from the curb and your lot is landscaped and appealing, your resale value will increase with time. Finding a house with a nice yard that can be maintained over time will keep your home value high. Investing in more landscaping and work on the home’s exterior will
increase that value.
Neighborhood
It will attract future buyers if your home is in a residential area with great amenities and a positive atmosphere. Grocery stores, parks, and community centers are great amenities. Some neighborhoods have their own swimming pools and tennis courts.
Time on the market
If your house has a history of selling quickly, that indicates a positive resale value. Conversely, houses that stay on the market for an extended period probably do not have great resale value. When looking for a home, you can check online for the number of days it has been on the market.
Beginning your Midtown home search
You may be ready to begin your home search. With the help of an experienced local real estate group like Doyle + Goodrowe Curated Living, finding a home in one of the most innovative and exciting communities is uncomplicated. When you are ready to buy your Midtown dream house,
contact the team at Doyle + Goodrowe Curated Living.
