According to the most recent data from the US Census Bureau, Georgia ranked seventh among all American states when it comes to inbound migration. In other words, new residents are flocking to Georgia in large numbers.
This ongoing migratory influx creates more competition when buying a lake house in Georgia. Georgia has a number of real estate sector policies and regulations that differ considerably from many other states and are agents are able to help navigate for you.
With the right professional guidance, you’ll be moving into your new Georgia lake home in no time! Get the help of a qualified Georgia real estate agency that specializes in lakefront homes like Kim and Lin Logan Real Estate to handle the crucial details of the homebuying process.
While property costs are skyrocketing in most of its metropolitan cities, other regions of Georgia like Lake County offer more space and better views. The Lake Oconee area offers peaceful and luxury living around the waters and surrounding woodlands. Located midway between Atlanta and Georgia’s second-biggest city Augusta, Lake Oconee is less than an hour and a half drive from both of these Southern US cities.
Determine How Much House You Can Afford
To begin the homebuying process, it is critical to determine what you can spend on a home. Consider your down payment. Most mortgage lenders in Georgia want buyers to contribute 20 percent of the total home purchase price upfront. Many factors should go into this process, but the importance of utilizing a professional real estate agent cannot be underestimated. Experts in our field, we work hard to ensure the best possible outcome for all our clients – buyers and sellers.
Consider the Ongoing Required Costs of Property Ownership in Georgia
After considering your down payment costs and monthly mortgage rates, you must take other associated costs into consideration. For example, the independent Tax Foundation has determined that the average homeowners in Georgia pays regular property taxes at a rate of 0.91 percent.
The climate and geographical location of Georgia also presents some unique financial risks and general expenses. This is particularly true in certain parts of the state. As Georgia homeowners shop for property insurance, they are wise to think about coverage that protects them from flooding and wind damage.
Consider Partnering with an Experienced Real Estate Agent
Although it is not legally required to secure a real estate agent for the homebuying process in Georgia, most experts recommend it. Agency ratings, industry credentials, and years of experience are just a few things you can find on our website and online profiles that showcase our commitment and dedication to our clients.
Consider Seller Requirements and Property Conditions
Unlike the majority of states, Georgia does not require sellers to complete a disclosure statement and share it with prospective buyers. For this reason, you will want to consider one or more comprehensive home inspections to accurately assess its condition. Not sure where to start? We know all there is to know about buying and selling homes in Georgia, give us a call today.
Get Preapproved for a Mortgage So You Are Ready to Make an Offer
Mortgage preapproval typically comes in the form of a letter that proves a mortgage offer to lend you up to a specific amount of money. Preapproval is particularly important in Georgia, where homes are flying off the market at lightning speed. This means that you must be prepared to make a competitive offer immediately if you want to land a high-quality home.
For more information about exactly what it takes to buy Lake Oconee real estate and Lake Sinclair, Georgia real estate, contact a representative of Kim & Lin Logan Real Estate today.
