Buying a home is a huge step for most people. In fact, it is one of the single largest purchases that most people will make in their lifetime. Because of this, there are a number of important factors to consider before you sign on the dotted line.

The first step is to determine your budget and get preapproved for a mortgage. Without this, it will be impossible to narrow down your options. The general rule of thumb is to consider properties that cost between two and three times your annual income. Another rule of thumb is to make sure your mortgage payments will not exceed 28% of your monthly income. Even though these rules apply to most people, it is important to consider other factors that may impact your monthly budget. If you have other major expenses each month (private school or college tuition for your kids?) or a large amount of debt (student or auto loans? credit card debt?) it might be wise to consider a smaller mortgage payment so that you can more easily balance your other financial obligations.

Another aspect of your financial picture that you should consider is your cash reserves. Many experts advise a 20% down payment plus another 3% for the closing costs. This larger downpayment will help you avoid PMI, which can save you hundreds of dollars over the life of your loan. In addition to having cash for the purchase of your home, you will want to have additional cash on hand for moving expenses and any home repairs that might crop up once you have moved in to your new home. Don’t completely depleat your savings account when you are gathering your downpayment!

Buying a Home in Atlanta

Once you have made all of the necessary financial decisions, you can start the fun part – deciding what features your new home absolutely must have vs. things that would be nice to have, but you could live without. Location is important – especially in Atlanta. Living close to work can save you hours each week fighting traffic. If you have kids, living in a good school district can mean saving thousands of dollars each year in private school tuition. Other common factors to consider are number of bedrooms and bathrooms, yard size, and landscaping.

At this stage, you are ready to start visiting properties. Teaming up with a good real estate agent can help make this process as smooth as possible. As a licensed agent, I have access to a number of databases that are only available to other agents, allowing me to search a larger number of homes and more easily helping you to find your dream home. I can help you set up viewings of potential properties, and act as a mediator between you and the seller. Once you have found a home that is perfect for you, I can help you negotiate the terms of the contract, and you will be well on your way to becoming an homeowner. Call today to learn more about the ways I can help you become a homeowner.


Home Warranty of America – Real Estate Video

In the real estate market, buyers and sellers have great expectations, and as a real estate agent you take pride in fulfilling them! Learn how HWA can help you meet those expectations. Choose HWA – We’ve Got You Covered.

Home Warranty of America – Home Buyer Video

HWA 13-Month plans offers home buyers great value with easy, reliable solutions for unexpected problems. With an HWA Home Warranty homeowners are protected from the expenses of repairs of their new home’s major mechanical systems and appliances that break down due to normal wear and tear during the coverage term. At HWA – We’ve Got You Covered.

Home Warranty 101 – Learning about the Home Warranty

Learn the ins and outs of what a home warranty is and how it can help you save money on appliance and mechanical system repairs and replacements!