Whether you currently reside in the Atlanta area or you are considering a possible move there, in 2016 Atlanta is one of the top markets in which to either buy or sell. With a housing market that has consistently been on the rise, along with an overall affordable market, there are many benefits the Atlanta housing market has to offer homebuyers.
The Top Three
Not convinced? Below, you’ll find four reasons why Atlanta’s real estate market is so appealing, and why, if you’re going to buy or sell a home in the area, there’s not a better time to do so.
Buying beats renting in Atlanta.
From a financial perspective, in the Atlanta area it is better to buy than rent. The metro Atlanta area, specifically Sandy Springs and Roswell, have seen a remarkable shift and is now considered one of the best housing markets for home buyers.
Have you ever heard of the term smart buy? Buying smart means that you consider all costs that come with a property (taxes, insurance, emergencies, etc.), not just the price tag of the house, before you purchase your home.
For those who practice this technique, Atlanta boasts an excellent smart buying market. There are more people able to purchase properties that fall below the maximum affordable price for the area. This, if you haven’t already guessed, leads to creating an appealing buying (and selling) housing market in the greater Atlanta area.
Using information such as median income, current property prices, and rental data from the Department of Housing and Urban Development, along with an assumption of a 30-year fixed mortgage rate with a down payment of 20 percent, the average homeowner costs don’t exceed 30 percent of the home buyer’s income. This percentage is referred to as the maximum affordable price.
What the data shows is that the Atlanta market has an affordable housing market for buyers. However, even more notable, many of the homes available for purchase throughout the greater area are even lower than the maximum affordable price.
Homes that are purchased which are below the maximum affordable line are called “smart buys,” and all the available affordable homes create a market where buying is more beneficial than renting.
Atlanta offers buyers great advantages.
For some time now, Atlanta has been considered one of the most affordable big cities in which to live. When compared to income, more people are able to afford homes in the market than in other areas. Not only are more families able to buy their homes, but they have more chances of buyer bargains when purchasing homes. Do you know why that is?
Atlanta is able to remain an affordable city, even with its huge growth in population, based on the ability of the city planners to keep a balance between the supply and demand of new homes. This is because there are no big factors stopping new construction.
Atlanta is an ideal location for expansion, as there are no natural barriers (mountains, ocean, etc.). This gives the city and its metro area plenty of room for new construction, meaning more houses, apartments, and townhomes are constantly being added to the different neighborhoods—which is great news for those looking to buy.
There are price gains for sellers.
This is an advantage for those selling within Atlanta’s market. While the housing market is extremely affordable, that’s not to say home prices aren’t on the rise. The costs of homes in Atlanta have risen over the past several years, and they are expected to continue to rise.
This means those selling in the area are likely to experience a greater return on their home. The counties in the metro Atlanta that have experienced seller price gains are Fulton, Gwinnett, Cherokee, Cobb, and DeKalb.
Ready to find the home of your dreams in the greater Atlanta area? What are you waiting for? Contact Janet Sells Atlanta today to start your search. With many years of experience under her belt, Janet is knowledgeable about the different neighborhoods and everything they have to offer your family.
Turn to Janet Sells Atlanta as your number-one choice for realtor representation. Unlike many other retailers and agencies, we offer personal service and representation to every single one of our clients. Whether you are looking to sell, buy, or relocate to a new part of town, or you wish to find a second property, lean on Janet Sells Atlanta for a positive experience.