Atlanta housing prices. What's the catch? (Dunwoody, Peachtree City: apartment, crime, buying a home)

[Exhibit_B]

I work from home 75% and 25% travel internationally. I've lived mostly along the east coast and I'm currently priced out of buying a home in the D.C. metro area. To get a nice 2/2 brownstone in a nice or newly gentrified area would cost around $700-800K. If been checking out different cities and purchasing in the range upwards to $850K.

I've been comparing cities and cost-of-living calculators and I can't figure out why the homes are so huge and moderately priced. The homes I've been viewing are in suburbs (*sp - Dunwitty, Jonesboro, etc.)

Are these suburbs very distant from malls, shopping areas? Are the Georgia suburbs safe from crime and militia groups, etc?

I'd be moving as a bachelor, no children. Income in the low $200s.

[honobob]

They are huge properties that will cost a fortune to maintain and will have little to no appreciation and are in less desirable neighborhoods, hence the low dollar per square foot value.

[bu2]

Washington to Boston and the West Coast are FAR more expensive than the rest of the country. The real question should be why its so expensive in those places.

[Exhibit_B]

Originally Posted by bu2

Washington to Boston and the West Coast are FAR more expensive than the rest of the country. The real question should be why its so expensive in those places.

In D.C., I think its due to a concentration of federal workers that have inflated salaries. The low unemployment rate during the economic downturn is why I moved here. There were so many job openings during that time I felt more confident if I needed to job search. there was also a huge hike in salary. I soon became a 100% teleworker and looking to take advantage in a new city.

[ATLTJL]

You have to look at the neighborhoods carefully.

I mean, coming from DC, you'll probably be surprised to see that $600k will get you a very nice home in a very good part of town, like a Dunwoody.

But then you also have places like Jonesboro where you might say holy cow, I can get a mansion for $300k! Well, those are the areas that you have to look out for because they did build some very nice neighborhoods in some less than desirable areas.

And sometimes -- and I think I can say this without appearing racist -- you can get really good deals in places like Lithonia, College Park, etc. Where it's not that there's anything wrong with the areas per se, they aren't bad...but they are almost entirely African-American, and that seems to impact the values of the homes there. I'm sure someone here will be able to go through the history and sociological timelines much better than I can, but it seems like there were many luxury homes built for professional African-Americans, of which Atlanta has a lot. And I think that in fact, it did work, and there are areas of very professional African-Americans in the metro. But those houses never appreciated like other areas for a bunch of reasons. That explains why you can get a really nice looking 4000 square foot home for peanuts.

But there are lots of other areas that have more diverse populations and more luxury retail, restaurants, etc. where you will pay a lot more per square foot....but still probably considerably less than DC!

I'm just trying to explain the "catch" to ultra-cheap housing prices in some areas. Maybe it matters to you, maybe not.

[JoeP]

In D.C., I think its due to a concentration of federal workers that have inflated salaries

Most Federal employees can't afford it and have to live far. Some high ups I'm sure can afford it, but there's also plenty of lobbyiests who can afford it and DC is also home to a large amount of non gov't jobs.

[flamadiddle]

Dude, you could live like a king at that price range in the Atlanta burbs... check out Peachtree City since you need to be close to the airport.

lol at the militia group comment.

[fieldm]

Its just cheaper in the south

[samiwas1]

With a $200k salary, you can live damn near anywhere you want in town. If I were a bachelor, I wouldn't even be looking for a house. I'd be getting a swank apartment right in the middle of town. But, everyone has different preferences. Still, you don't even need to go to the suburbs to get a nice house with that kind of cash. But if you want a big house and a big yard, then pick your suburb.

[Forhall]

Originally Posted by samiwas1

With a $200k salary, you can live damn near anywhere you want in town. If I were a bachelor, I wouldn't even be looking for a house. I'd be getting a swank apartment right in the middle of town. But, everyone has different preferences. Still, you don't even need to go to the suburbs to get a nice house with that kind of cash. But if you want a big house and a big yard, then pick your suburb.

There are plenty of neighborhoods in town that require more than a 200k salary lol