Buying a home, particularly your first home, is a thrilling experience. It’s the biggest investment decision most people make in their life. Therefore, you are bound to have plenty of questions about buying your first home in Atlanta real estate market.
So, to make your home buying process a breeze, I have compiled a list of questions most commonly asked by homebuyers and have tried to answer them in an as easy and as straightforward manner as possible.
1. How much can I afford?
There’s no definite answer to this question. How much you can afford will depend on your income and your financial obligations. Enter this information in a Home Affordability Calculator (you can easily find one by a quick Google search) to know how much you can afford. This is an important first step because if you see houses you love that are outside your budget, you will feel disappointed. So, partnering with a real estate agent is important to get a pre-approved home loan and avoid setbacks in the home buying process.
2. Can I sell my current home and buy a new one at the same time?
This is a tricky question. To do this, you will be required to add a clause about ‘sale contingency’ in your contract. A sale contingency means that you buy a home only when you can sell your existing place. This way, you do not have to rent a place in case you sell before you buy a home and vice versa.
3. How can I know if buying a certain property makes a good real estate deal?
No one can predict that a particular property is a bargain and that its value will appreciate after some time. However, an experienced real estate agent can study Atlanta real estate market trends and dynamics and provide you a general idea about whether property prices will increase or decrease in the future.
4. How many homes do buyers see on average before they make an offer?
This varies from person to person. Some people find their dream home on their first day of home search, while others spend months finding the ideal place for their family. There are two tips that you can use to stay motivated during the home buying process – first, do your homework, know what you want, browse through listings online to get an idea of property prices; second, focus your efforts on a particular neighbourhood.
5. What if I skip the home inspection?
Well, this will save you some money, but I strongly recommend every buyer to get a professional home inspection done in order to identify any major repair issues. While you can easily detect chipped paint and leaky faucets, determining the condition of the roof and the heating and plumbing system requires specialized expertise. Therefore, partnering with a home inspection expert is a must!
If you have more questions about buying or selling a home in Atlanta real estate market, you may contact me on my website. To get more tips and tricks about home buying and selling, please read my blogs on Platinum Real Estate and Luther Ragsdale.com.