Fortunately for us, we do not need to play a dangerous guessing game with our nest egg. Deutsche Bank did a study not too long ago and Fortune published the resultant findings of The Best Places in The U.S. to Buy a Home. Predictably, the cities that have the most affordable housing suffered the most severe real estate crashes. And then what inevitably follows is that with the extreme fall in prices, it becomes cheaper to own than rent.
Atlanta was named the top city to buy real estate. Average monthly rent in Atlanta is around 50% more than the average after-tax mortgage payment for a home. To exacerbate matters, the Atlanta metropolitan area led the U.S. in new home construction during much of the period just prior to the real estate crash. Simple supply/demand economics resulted in prices sliding at alarming rates. And with a rental price as percentage of mortgage equaling 151.2%, Atlanta is now a great place to buy a home.
Take a look at this 2-bedroom, 2.5-bath Condo. At an asking price of $86,000, this 1270 sq. ft. unit is a bargain indeed. Built in 2006, this condo has multi levels, including a rooftop terrace. Other features include hardwood floors and granite counters in the upgraded kitchen. This listing is flagged as a Short Sale.
Old, well-built homes will always have a special place in my heart. This charming 1920 Craftsman Single Family Home is listed at a reasonable $112,000. Located in the historic west end, this home has 3 bedrooms and 2 baths, and has character to spare. At almost 1800 sq. ft., this home is spacious as well, and has all the period details that add to the character. High ceilings adorn the living room that has a wood-burning fireplace. There is also a pretty front porch and sunroom.
Here's one just begging for the handy person to add the necessary touches to restore the home to its former stately glory. This is a 1919 Victorian Home that is just a heart-stopping beauty to behold. Just take a look at it. It is hard to believe that you could own this gorgeous house for as little as $199,000. With 5 bedrooms and 4.5 baths spread over three storeys of living space, this is a mansion and you could be the lord/lady for under $200,000. All the requisite details are there - masonry fireplace, 9+ foot high ceilings, hardwood floors, and a dining room that seats 12 - if you're the entertaining sort.
Atlanta, Georgia is definitely worth a look if you're contemplating a move and/or looking at investing in real estate. Remember to look at the things that appeal to you in a location. We all have many varying wants and needs, and it is sometimes not possible to zero in on one place and declare it the ultimate move for everyone, as attractive as the financial reasons may be. You are the one that should decide what's best for you, and we can help you with these 10 Steps For Finding the Best Place For You.
