Find a Place to Live in Atlanta
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Real estate boom or bust, buying a home in Atlanta can still be a rock solid investment. But there are a few words of caution that accompany that: beware certain mortgage lenders and certain types of home investments. Other than that the area remains in high demand among newcomers.
New business and industry continue to expand Atlanta’s metro area. The city has been booming with positive growth since the summer Olympics in the mid-90s put her squarely at the hub of the Southeast. The only dip has been in mid 2007 when the housing bubble broke. Up to that point home sales had kept pace with home buys and the housing market value was hotter than many other locations in the country. However, when the smoke cleared the escalating number of home foreclosures foretold of the crowd of rogue mortgage lenders that had been able to set up shop in the Atlanta area.
The good news is that for homebuyers shopping the Atlanta area, you will find that while the market may be flat during economic downturns, that you still have the advantage when buying. Stay away from condos—there are just too many of them to make them worth what you will spend, so not a good investment in the Atlanta market.
Shopping for a Home in Metro Atlanta
If you are the cosmopolitan type then do not hesitate to venture into downtown Atlanta to buy a home. Atlanta is a web of niche neighborhoods, each with its own style, demographic and flavor. Almost all feature good home buys, many packed with serious value. Best home buys for the value and investment are in emerging communities such as Kirkwood, Cabbagetown, and East Lake. But there are plenty more just like them.
Buying a Home Outside Downtown Atlanta
If you’re a born and bred suburbanite, have no fear; just outside Atlanta’s metro area you will find some very well-appointed neighborhoods. These areas are a bit politically and socially conservative, in stark contrast to metro Atlanta. Shop here for established homes in mature neighborhoods. Chances are good you will still be within 15 or 20 minutes of all Atlanta’s downtown amenities.