Is now a good time to buy in Oakhurst? (Atlanta: homes, neighborhoods)

[NTATL]

My partner and I have been eyeing properties in Oakhurst but we are wondering if we would be buying at the top of the market. We love the community feel of Oakhurst and how liberal it is, even more so than O4W where we currently live. But everything we've looked at is so expensive and pretty much at the top of our price range in the high $500s to the low $600s for what would be considered a downgrade from our O4W home.

Do you guys think Oakhurst will continue to rise or do you think it's reached its peak?

[aries4118]

Why do you want to leave O4W?

[NTATL]

Actually, we are fine with staying in O4W and love living here, minus the crime. Oakhurst has that community feel that O4W is missing, but it is farther away from all the things we enjoy (Piedmont Park, Beltline, Midtown, PCM, Downtown, etc.).

[red92s]

Honestly, if you don't have kids and are buying in Oakhurst you are paying a really steep premium to be in one of the best school districts in the state. On top of that, you'll have a higher tax bill as well. Decatur taxes on 50% of the appraised value (Atlanta is 40%), and has a higher mileage rate. Don't get me wrong, I can see the appeal of the area even without kids. But every listing you walk into you will be in a bidding war with a family with kids. Each of those kids represents at least $8k in private school tuition they are saving by being in City of Decatur, so it's pretty easy to get into a bidding war. If you generally like the area but schools are a non-factor, I'd consider looking in the City of Atlanta of Kirkwood and East Lake that tightly border Oakhurst. It's still a competitive housing market, but your dollar will go further than it will once you cross the City of Decatur line, and you'll pay less in taxes. Along the edges, those three neighborhoods are all fairly indistinguishable.

The time to buy in Oakhurst was 10 years ago. Or 5 years ago even. Teardown prices are closing in on the mid-high 300k range, so anything that's in livable condition by modern tastes is going to run at least 50% more than that.

[JPD]

No, the entirely of City of Decatur is an aggressive sellers market.

[travbo]

I'm going to go even further than most. It's a horrible time to buy in nearly every intown neighborhood in Atlanta. Kirkwood, East Lake, Edgewood, East Atlanta, hell even West End prices are up 30-40% from just 24 months ago. I'd personally wait for more direction from the federal reserve and the Trump administration. I'd be very skeptical of buying any home over $500k in most of these areas, but that's just my opinion. There is a ton of investor speculation in nearly all of these neighborhoods. Lots are going for 200k+ in neighborhoods that just a few years ago were sub 45k markets.

[Iconographer]

Originally Posted by NTATL

Actually, we are fine with staying in O4W and love living here, minus the crime. Oakhurst has that community feel that O4W is missing, but it is farther away from all the things we enjoy (Piedmont Park, Beltline, Midtown, PCM, Downtown, etc.).

I'm frankly baffled by this statement.
But if you like wine crawls, exposed ceilings, children, teardowns, self-conscious liberalism, fashionable activism and veiled one-upmanship, Oakhurst is probably the place for you.

[red92s]

Originally Posted by LovinDecatur

I'm frankly baffled by this statement.
But if you like wine crawls, exposed ceilings, children, teardowns, self-conscious liberalism, fashionable activism and veiled one-upmanship, Oakhurst is probably the place for you.

That's a pretty hot take, but not entirely inaccurate.

[Forhall]

Oakhurst is great, and definitely has that walkable neighborhood feel that some areas lack. It is very safe, often you will see young children walking to and from school on their own or playing on the playground. They have a cute little downtown section and the area has gentrified so thoroughly that there is little to no blight remaining. It's also a great location within the metro.

That said, Oakhurst is a fortune due to the schools. Most new builds are offered above 800k these days. Even small, old homes are around 500k. At this point, there are Intown communities that are just as safe and neighborhood-like as Oakhurst where you can buy a home for the same price or cheaper. Some of the residential areas of Virginia Highland or Morningside for example, both of which are zoned to elementary schools as good or better than Decatur (like Mary Lin)

[Iconographer]

Originally Posted by Forhall

Oakhurst is great, and definitely has that walkable neighborhood feel that some areas lack. It is very safe, often you will see young children walking to and from school on their own or playing on the playground. They have a cute little downtown section and the area has gentrified so thoroughly that there is little to no blight remaining. It's also a great location within the metro.

That said, Oakhurst is a fortune due to the schools. Most new builds are offered above 800k these days. Even small, old homes are around 500k. At this point, there are Intown communities that are just as safe and neighborhood-like as Oakhurst where you can buy a home for the same price or cheaper. Some of the residential areas of Virginia Highland or Morningside for example, both of which are zoned to elementary schools as good or better than Decatur (like Mary Lin)

Agreed.

To the OP: Why would want to uproot when your current neighborhood is just hitting its' stride?
To me, Oakhurst is settled in. All eyes are on O4W now!