Home Buying Rules in Alpharetta Ga


Posted by Atlanta HomeStore Team on Sep 14, 2015 in News

Home Buying Rules in Alpharetta Ga

I’d like to share what I feel are the seven golden rules to consider when buying or long term leasing a home. They cover everything from location to condition to lifestyle considerations. Only occasionally will all be met to any great degree. More often they are a snapshot of the priorities and values of the decision makers in the process. One or two items are “must haves” and the others rank somewhere along the way between “likes” and “nice to haves”. I’ve observed these over many years of direct and in direct experience. They are as follows in no particular order:

One of the most obvious and easy to meet rules is what I call suitability. That is to say, does to />property meet the needs of the family? Does it have enough space and is that space in the right shape? Are there enough bedrooms and baths? Is the kitchen and living spaces large enough? If there are teenagers, is there secondary living space? Is there adequate parking and storage? If there are little children or pets in the family, is there a yard? If so, is there a fence? Suitability has everything to do with the physical attributes of the property. As such, it is probably the easiest to quantify and sort through the search process. That only starts the process.

The second rule has to do with what condition the property is in? If the structures have been around a few years, how has it been taken care of? Is the property built well? What materials were used in its construction? Brick is normally more durable that vinyl or wood siding. Do the painted surfaces need a fresh coat of paint? A freshly painted home will always look newer in the eyes of the home buyer. How old are the mechanical systems? Different systems have a different expected lifespan. It would be wise for the buyer to consider when and how frequently the larger ticket items will need repair or replacement. Hiring a professional home inspector to inspect the home during the due diligence period is normally money well spent. Occasionally they find things that are not obvious and can save the home buyer a great deal of money.

The third rule is all about location. An old maxim about real estate is that the three most important things are “location, location, and location”. I would offer that the best location is only one of the seven. It’s important, but definitely not the only thing. However, location is important when considering things like distance to work and commute times. Also, proximity to what I call lifestyle issues is big as well. Relative distance to shopping, schools, medical services, entertainment choices, church activities, and sports activities can be huge whether you are raising a growing family or enjoying your retirement. The more active the lifestyle, the more important location will become. Will the property be convenient to what’s most important to you?

The fourth rule is related to the third. I’m referring to access to transportation systems. That includes major feeder roads, interstates, public transportation, and long distance air and rail systems. It is possible in major metro areas to live closer to the city and yet have a longer commute than those who live much further out. For example, feeder roads can in some places be so crowded that it takes longer to reach the interstate than it may take someone to reach the same spot though they may live much further away from the city. Also, if the home buyer has to travel frequently for business then ease in the reaching the airport in time to catch a flight can be very important. If someone works adjacent to public transportation, it may be a strong motivation for them to live near enough to commute without needing the family car. As our society becomes more and more green friendly, a smaller ecological footprint will become a larger part of the decision equation.

The fifth consideration is by far the most important to many. If the home buyer doesn’t like the looks or style of the property then they will not want to buy the house. Style is very subjective, but it can be narrowed down somewhat once the agent has spent some time with the buyer and seen firsthand what the buyer seems to like. As an agent I make it a point to let the buyers I am working with know I value what they think about a property. It is just as valuable for me to know what they do not like. This allows me to more easily select which homes I spend their time showing them. All houses are basically space for people to live in. How that space is arranged and decorated can make a world of difference to the buyer as they go about the process of expressing their lives in the space.

The sixth thing to consider is one that I most frequently see overlooked. It has to do with how the property will suit their needs as time goes on. Most look only at their current needs. They fail to consider that purchasing a home is most optimally a long term proposition. As their agent I try be cognizant to how the property will suit their needs in the future. A young couple who keep talking about wanting a large family may not be good candidates for a one or two bedroom condo in a high rise. In the same way a mature couple with increasing health issues may not need a two story over a basement garage where they have to carry every bag of groceries up the stairs. Some young families with growing young children may make a better financial decision to buy a larger home now and avoid the cost of “moving up” as their families grow.

The seventh and final rule in our list has to do with financing. Getting the right financing package will affect the pocket book for many years to come. The general population is not aware that there are literally hundreds of different mortgage programs available. Selecting the right loan officer is very important. Their experience, knowledge, and attention to the buyer’s needs are imperative. Their job is first of all to listen to the buyer and evaluate their ability. This allows them to match the buyer to the best loan program for them. VA, FHA, or conventional programs are available. The length of the loan, down payment requirements, various special programs, and mortgage insurance requirements in effect should be a reflection of the buyer’s best interest when the loan is closed. The loan officer’s knowledge can sometimes save the buyer a great deal of money over the life of the loan.

It would be rare for any one home to achieve a maximum rating in all seven of these areas. Each is important but only to the degree that they make a positive or negative impact on the lives of the buyers. All homes are simply structures to live in. The difference between a house and a home is in largely the result of how the buyers are able to match their individual abilities, needs, and expectations of the house. So if you plan to buy a home on Alpharetta Ga anytime soon be sure to visit www.atlantahomestore.com for the latest and greatest selection of homes in Alpharetta Ga.