Let’s face it: Though exciting, buying a home is stressful. At Kim and Lin Logan Real Estate, we work diligently to streamline the process, protect our buyers and sellers, and make sure our clients get the best deal possible.
Still, there are considerations all home buyers should make when it comes to purchasing a house.
1. Is this a good investment?
Determining whether a home is a good investment comes down to several factors. Here are two to consider:
What is the primary use?
Take time to consider your primary use of the home. If you’re considering a rental property, it’s best to understand the local rental market as well as local and community laws and restrictions. If it’s a primary residence, ask your Kim and Lin Logan Real Estate agent to help you find the best schools and locations for you and your family.
What is most desirable in the area?
In Lake Oconee, waterfront and golf course property is the primary draw. In most cases, this makes it the most desirable both in the immediate and short term. These lots also tend to hold more value, which protects the long-term value of the property. Still, this shouldn’t dissuade you if neither golf or waterfront is your priority. The Lake Oconee area is growing as a primary housing market as well.
2. Financing and pre-approval:
When it comes to financing your home, preparation is everything.
Though we’re not financial advisors and don’t pretend to be, we recommend you plan and meet with a financing professional beforehand to gauge your budget and current interest rates on mortgages.
Here are a few considerations:
– Start planning three to five years ahead, minimum.
– Get preapproval before moving forward with an offer.
-Plan an extra 5-10% for additional costs.
3. Formulating an Offer:
Preparing a competitive offer requires skill, tact, and in-depth knowledge of the market. Without a proper understanding of recently sold comparables, current trends in the market, and the long term prospects of property and community, maximizing the returns on your purchase becomes a crapshoot.
Here at Kim and Lin Logan Real Estate, our team of diligent, experienced agents is here to help you find the right property at the right price.
If you need help in any of the areas above, contact the Kim and Lin Logan Team so we can simplify your housing search and ultimately, find you the home of your dreams in Georgia Lake Country.
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