Essential House Hunting Tips Checklist For Getting A Home In Georgia
Georgia is a beautiful state, with many water bodies and masterpiece homes. However, buying a home in the famous state and its numerous sought-after cities isn’t child’s play.
Some of the factors you might need to consider when house hunting in Georgia are the housing market, finance, mortgage conditions, and the economy.
You’ll also need to know vital housing market trends in Georgia. For example, mortgage rates are currently the lowest in a long time, averaging 2.38 percent for 15 years mortgages and 2.5 percent for 30 years. The demand for homes is more than the supply presently, and the value is estimated to increase by over 8 percent in the next year.
While purchasing a home may be an arduous task, it’s a huge investment, and there’s no room to make a hasty or emotional decision that may affect you later. With a detailed house hunting tips checklist from Georgia realtors in your hand, getting a Georgian home has never been easier. Check tips here: https://timstoutteam.com/house-hunting-tips/
Tips to Owning a Georgian Home
The following are tested and trusted tips before buying a house every homebuyer in Georgia will find valuable:
Get Your Mortgage Approved
This step may be the hardest one yet, but it’s crucial you clear this part before starting your house hunting journey. Mortgage approval can enable you to settle numerous bills incurred during closing a house deal like agent fees, closing costs, and the home price.
You can get this process underway by visiting the local bank or credit union for lower down payments and a better repayment plan. An FHA loan becomes handy if buying in the rural area, requiring only 3.5 percent as a down payment.
The lender will scrutinize your total income, credit history, as well as debt-to-income ratio before the mortgage approval.
Get an Experienced Realtor
There are lots of realtors in Georgia, but it’s advisable to go for the local agents. They’re presumed to have better experience in areas that suit your specifications. They make the work of getting a house and moving in as smooth and easy as possible.
You can’t go wrong with an agent like Tim Stout by your side. With decades of experience helping people get their dream home, you’re guaranteed to get the best deal at a great price. Besides, they can give you a basic house hunting tips checklist to follow if you’re only looking for an expert consult.
Alternatively, you could ask your friends, colleagues, and family for a referral. One of them might have a realtor to recommend. You can also check out the National Association of Realtors for a referral.
Begin House Hunting
Before starting the house-hunting process, we recommend that you make a list of what you want in the house or surroundings.
Are you a city person, or do you want to move away from the hustle and bustle of the city and be at peace with the woods? Perhaps, you desire a big kitchen, with the view of the black sea in your backyard, with a grand fireplace.
House hunting depression is real. You can get burnt out real quick from driving through neighborhoods searching for homes. A home can be listed today but is off the market tomorrow. This is where you need the services of your experienced realtor to take away some of the stress.
For your agent to serve you better, you need to give details on the house you need, such as the number of bedrooms, your desired surroundings, and if you need a new home or one that requires renovation. Your realtor can then draw a list with your price range in view.
Place Your Bid
When you find your desired home, it’s time to make a bid to the seller or the agent representing their interest. You and your realtor can consider your budget and come up with an offer that will match the seller’s price.
Your realtor can make the bid on your behalf, draw up a contract detailing stipulations. A common term that shouldn’t be missed in the contract includes moving the furniture, closing deal duration, etcetera.
To protect yourself, your agent should include a clause that states your buying the home is dependent on inspections that will be carried out. Next, you need to show the seller that you’re serious about the deal by making a down payment, usually one percent of the total price.
Then sit back, and allow your realtor to begin the negotiations.
Consider the Resale Value
This tip may seem out of place. After all, you’re looking to buy and not sell. Well, a time may come when you may need to move out for certain reasons. You’d want to get a good deal when selling the house. If the house doesn’t appeal to a potential buyer, it may not be sold at a good price.
Don’t get a home that doesn’t have basic amenities befitting a perfect home setting just because it has that one feature you’ve always wanted in a home. Buy a home that you can easily resell if the need arises.
Closing the Deal
When the negotiations are acceptable to all parties, the wait is finally over. Your realtor can set a closing date, during which you get inspectors to check the home.
As a final step in your house hunting tips checklist, go through the entire process again, watching out for all clauses which are present or absent that may lead to a legal tussle. An attorney can get the paperwork done, transfer the title deed to your name, and make payments.
Top Cities to Purchase a Home
A part of the house-hunting tips checklist that’s quite helpful to first-time homebuyers is narrowing down your preferred city. Some people get it one time; others need to search thoroughly.
If you’re looking for a city that never sleeps, downtown Atlanta has some neighborhoods that may appeal to you. LaGrange, Peachtree City, and Newnan are some hot spots you should consider.
For a serene, safe, and comfortable neighborhood, Senoia should be on your list. It has a record of low unemployment rates, high salaries, amenities, and low crime rates.
There are lots of house-hunting tips a first-time buyer can follow to buy that gorgeous Georgian home. These are the most important, which can save you lots of hassles commonly experienced in purchasing a home property. Nevertheless, you can decide to hire an experienced real estate agent like Tim Stout to handle the entire home buying process.