CURBED ATLANTA -- Open Thread: How hard is it out there for first-time Atlanta homebuyers right now? (real estate)

[LynnHarris1]

Buying a home is hard, even with the likes of new apps that purport to smooth the process and real estate agents that promise a hassle-free experience.

And, much like driving a car or raising a child, the first time is always the most trying, they say.

Then again, hurdles abound each time you step into the Atlanta homebuyer market..."

FULL STORY: https://atlanta.curbed.com/2019/11/2...ome-homebuyers

SOURCE: Curbed Atlanta

[jeoff]

I think that finding a starter home, or even a “forever” home, in many places outside the perimeter is not so bad, as long as folks are flexible. If folks want/expect all the amenities, shiny and new and and top schools, it gets pricey.
I think that for many, buying Intown is like trying to hit a moving target—once folks have adjusted their expectations, the market has moves out of their reach—it’s tough.

[ATLTJL]

Finding a good home with proximity to food, transit, and solid educational opportunities is easier said than done

Well... duh!!!!

I think the problem is people expect their FIRST home to have all these things. Well, nope, it's never quite worked that way. Your first home is rarely your ideal home. The purpose of your starter home is to lock in a mortgage that won't raise like rent and build some equity. Then, in 5 years or so, you'll be in a position maybe to step up.

And guess what? Your SECOND home probably won't check all the boxes either!

Home ownership is like your career. Your first job isn't going to pay six figures with a corner office and company car. And most people will never get there. However, you've got to start the journey and keep taking steps to get closer to it. Stop expecting your first home to be perfect and it will be much, much easier. Look for something likely to appreciate and not cost a fortune to maintain and then move up when you're ready. Not rocket science.

[Tarzanman]

Originally Posted by ATLTJL

Well... duh!!!!

I think the problem is people expect their FIRST home to have all these things. Well, nope, it's never quite worked that way. Your first home is rarely your ideal home. The purpose of your starter home is to lock in a mortgage that won't raise like rent and build some equity. Then, in 5 years or so, you'll be in a position maybe to step up.

And guess what? Your SECOND home probably won't check all the boxes either!

Home ownership is like your career. Your first job isn't going to pay six figures with a corner office and company car. And most people will never get there. However, you've got to start the journey and keep taking steps to get closer to it. Stop expecting your first home to be perfect and it will be much, much easier. Look for something likely to appreciate and not cost a fortune to maintain and then move up when you're ready. Not rocket science.

This is a late stage capitalist type of attitude to have. I imagine that a lot of people would rather build wealth without being forced to consider their home part of their investment portfolio. You shouldn't gamble with something that you are unwilling or can't afford to lose.

[Joe_P]

is it hard to buy a starter home, or is it hard to buy a starter home because one wants to buy in popular areas that have been unaffordable to most of us for a long time (and still are)?

[Gulch]

Originally Posted by Joe_P

is it hard to buy a starter home, or is it hard to buy a starter home because one wants to buy in popular areas that have been unaffordable to most of us for a long time (and still are)?

Your answer is bolded.



Expecting to buy a house for under $300,000 in popular white neighborhoods in Atlanta in 2019 is more foolishness than an affordable housing reality.

[Otakumaster]

Originally Posted by Tarzanman

This is a late stage capitalist type of attitude to have. I imagine that a lot of people would rather build wealth without being forced to consider their home part of their investment portfolio. You shouldn't gamble with something that you are unwilling or can't afford to lose.

Ok, and they can do this anyway?

Nothing is stopping someone from simply not buying a home and instead investing in mutual funds or stocks or Roth IRA, etc.

Many if not most humans don't own homes.

That's a very American mentality.

[aslowdodge]

Originally Posted by ATLTJL

Well... duh!!!!

I think the problem is people expect their FIRST home to have all these things. Well, nope, it's never quite worked that way. Your first home is rarely your ideal home. The purpose of your starter home is to lock in a mortgage that won't raise like rent and build some equity. Then, in 5 years or so, you'll be in a position maybe to step up.

And guess what? Your SECOND home probably won't check all the boxes either!

Home ownership is like your career. Your first job isn't going to pay six figures with a corner office and company car. And most people will never get there. However, you've got to start the journey and keep taking steps to get closer to it. Stop expecting your first home to be perfect and it will be much, much easier. Look for something likely to appreciate and not cost a fortune to maintain and then move up when you're ready. Not rocket science.

I think this is something some millennials are accused of. Wanting everything now. Not surprised since today more than ever is a time of instant gratification. But I don’t think it’s the old idea of a large home in the burbs, but a nice place in a vibrant metro.