One of the best things about Atlanta new construction is the range of property types and price points that are available to buyer in this great city. In this post we will discuss some of the positives and negatives to purchasing new construction in The ATL.
As you’ve surely already noticed, there is a lot of residential development going on around Atlanta. From Smyrna to Brookhaven and Decatur to Sandy Springs, builders are squeezing townhomes and modern farmhouses in anywhere they can fit. In some cases this can be a negative sign because it overloads the market with inventory. But, for now here in Atlanta there is plenty of room for expansion and inventory as of the date of this article is still very low.
What You Need To Know
A few things I always recommend to new construction buyers are to make sure you consult a realtor before going to a new construction community alone, research the builders thoroughly, know the current resale values in the surrounding area and ask about any incentives the builder may be offering.
Contact A Realtor
First on that list is part about contacting a realtor. Now, I don’t just say this because I am a realtor here in Atlanta. Though I do take my job very seriously. I truly believe that it is important to have someone on your side when you’re going in to talk to a sales agent in a new construction. The sales agents are very good at their job and very passionate about the product they’re selling. They may have you convinced to sign a contract before you’re ready.
Once again, that’s not to say that the sales agents are doing anything wrong. They are just very excited about the homes they’re selling and their presentation is perfected to the point that there’s almost no reason any buyer would want to say no. Having an educated realtor there with you who understands the process will help ensure that you make the most informed decision before committing to anything.
Research The Builder
Next on the list of things to do before diving head first into new construction shopping is to research the builders. Your agent can also help you with this. Start with a simple google search. If you search for David Weekly, Pulte, John Weiland, Ashton Woods or any of the other top Atlanta new home builders, you will immediately find links to reviews and ratings for that builder.
So, that is the best place to start. Next you should reach out to your network on social media. Just ask if anyone has ever purchased a home from this builder or if they know anyone who has. You friends and family are most likely to give you straight answers, especially through social media.
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Your agent can also help you out with your research by giving you information on that builder’s past projects. What other neighborhoods have they developed in Atlanta? How are the values on those properties holding up. Unfortunately we still see new construction communities in Atlanta that were over valued originally and as a result the buyers now have negative equity.