Author Archives: Emily Bizaro
Author Archives: Emily Bizaro
Real estate business in Atlanta is slowly regaining its feet, and therefore many new properties are hitting the market. Prices are also stabilizing and that allows us to determine whether the cost of a real estate is realistic or not. This helps agents, including me to advise our clients about buying real estate.
The market is still unsteady, and thus it’s easy to make a mistake and buy property that isn’t what it seems to be. My job as an agent is to try and eliminate obstacles that prevent my clients from purchasing the property they like.
I work hard to find real estate that isn’t overpriced and then reduce the price even more. This includes everything from inspections to negotiations. But my efforts can go to waste if my clients make simple mistakes. My answer for this is this blog where I try to educate future buyers.
If you know what a mistake is then you won’t make it. This is a general rule that applies to all aspects of life, including real estate business.
One of the most common mistakes is that people buy property without thinking about settling down. This can mean that they end up moving away and still paying the mortgage for the property they aren’t using. This leads to various legal concerns that can explode into something serious. If you don’t plan to live in a house for more than ten years, then you should consider whether it is smart to buy it or not. Now, this doesn’t count for the property you can rent. Just remember that rental money should be high enough to cover mortgage expenses.
Next mistake you will want to avoid is forgetting about additional expenses. Those that wish to rent condos must remember that monthly association dues are a thing and they will have to pay them. And then there are potential repairs.
You can’t foresee whether the property will need any repairs in three or six months or even further down the road. This is why it is smart to set aside some money for said repairs. Think about monthly rent and imagine that you have to pay it. Don’t use the money you save for anything apart from repairs.
Many people neglect the site of the real estate. You might purchase the property and only then realize that major construction work will happen in the area and it will last for several months.
Another essential thing to look into, that many people forget, is the location of nearest public and private buildings. Failure to remember this might force your children to travel more than 20 miles to reach the school. On the other hand, if the police station is far from your neighborhood, then the probability that the crime rate is high in the area is huge.
My job is to work with clients to ensure that they obtain a property they like at the best price possible. The fee I get is based on my ability to negotiate for excellent deals that the clients will want. Now, this means that I will do almost anything to ensure the satisfaction of people who rely on me to find them a perfect property.
This, however, doesn’t mean that I can cover everything and avoid all mistakes that will pop-up along the way. I can prevent errors on my part, but it’s up to the client to make sure that they don’t make mistakes that will result in a bad purchase. This post will also be a useful guide for other people who are thinking about buying a property.
The most prominent mistake every future homeowner does is buying property with pre-built home improvements. I always advise my clients to avoid mistakes like this because it adds thousands of dollars to the price of the property.
You might not know, but agents that work for sellers want to get as much money from buyers as it is possible. Any home improvement a property has adds much more money to the cost of the purchase than it is worth. If you want to buy property, then buy it without home improvements. The money you save on that will let you build several improvements for the price of one that comes with the property.
The lack of research by the client can lead to many issues when it comes to buying real estate. You, as a client, should know everything there is about assets you own. The knowledge about the money you possess will give you an idea how much you can spend on the property without endangering the personal bank balance. This also allows you to determine how big of a mortgage your balance can support. Fail to do this, and you might lose everything when you fail to pay off your debts.
Going beyond your budget is tempting, especially if you find a property that is above it by a small amount of money. Don’t make this mistake, ever because it won’t end up well for you. Stick to your budget and always leave at least five percent of it as a backup.
The inspection of the property you are about to buy is essential. I always lead my clients in the investigation as they will point out things they like and things they aren’t fond of. And I always tell my clients not to show their emotions about the property. Agents of the seller will recognize those emotions and use them to keep the price of the property high.
Real estate industry in Atlanta experiences changes due to rise and fall of the economy on both state and country levels. This is same as real estate in other states of this country. Sometimes it is smart to invest and buy real estate while at some times it isn’t due to prices at the moment and the expectations about the future.
The state of this industry in the Atlanta is excellent as prices are low and you can purchase many excellent properties at premium prices. But this doesn’t mean that you should jump at the first offer you get, as some overpriced locations always exist. Read this post, as well as others I write, and that will help you to get an idea of what to buy in Atlanta and where in the city you should look for property.
This city was always an excellent place to invest in real estate. The primary reason for this is the fact that this city is a perfect place to raise a family. This means that houses are readily available for those that are willing to buy them and move it. It also means that real estate business in this city is perfect for people who want to re-sell or rent property.
However, this doesn’t mean that you can turn a profit on any property as the market took a hit several years ago. The said hit happened to the whole real estate industry, and thus Atlanta felt it as well. This shifted the market toward small real estates as well as real estates that can quickly be transformed into renting property.
So, if you want to buy a property to live in, then the best thing is to go for small houses. The price of those is still good enough to allow you to save some money on the purchase. Buying small home will also allow you to invest some money in its improvement. This is much better than spending too much money on a huge house and having nothing to invest in home improvements.
Another excellent opportunity to buy property in Atlanta is to purchase real estate you can split up into several apartments and rent it. Yes, rental business increased in volume as the price of real estate started going up. Many people will not risk buying overpriced houses so they will rent something until the prices go down. This is why it is smart to purchase the property you can rent rather than buying something to re-sell it.
And finally, don’t buy real estate with pre-built improvements as those add a ridiculous amount of money to the cost.