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The Best plan on how to Buy a Home in Alpharetta Georgia

The best Plan to Buy a Home in Atlanta Georgia - HomeSold GA Summary School

Hello and thank you for being here! Today we are discussing how to create a HOME BUYING PLAN. This message is helpful to Buyers and Investors

I want to show you how to create a home buying plan and why this is such an important step in the entire real estate process. A good plan will save you time, money and frustration, plus this is usually a lot of fun. Creating a plan is especially helpful if there is more than one person involved in the buying decision, either you and a significant other or you and a business partner. So here we go, 5 steps to create your home buying plan to save you time, money and frustration.

  1. Decide what type of home is right for you.
    • How many bedrooms, how many bathrooms?
    • Do you want a basement or not?
    • What exterior do you want or the kind of lot the home sits on
    • This is a fun step and the one most people start on. Unfortunately, it’s the one most people stop with as well.
    • Pro Tip: Sometimes an easy way to find what you want is to list what you don’t want.
  2. Decide how much you want to spend.
    • There are many attributes to consider about a home, but price is often a major component.
    • Here is the video link about financing, but consider these key finance items:
      1. How much you have for down payment
      2. How much you have for closing costs
      3. Are you going to pay cash or secure a loan
      4. How much money do you have for ongoing home maintenance, routine upgrades and any major expenses that may arise in the time you own the home
  3. Decide which aspects about home location are most important to you
    • What location do you want to be in?
      1. Intown, outside of town, or further out in the country
      2. Northside or Southside,
    • Think about proximity to places that are important to you or that you travel to often
      1. Work, Schools, churches, hospitals, and restaurants
    • What about neighborhood amenities
      1. Do you want to be in a Swim & Tennis community
      2. Or would you prefer not to be in an HOA.
  4. When do you want to buy?
    • Timeline is a huge factor and can often affect the price and availability
      1. Do you need to close in the next 30 days, your criteria may need some flexibility. If you can wait 6 months then you can be more stringent with your demands.
      2. Also, time of year can affect inventory and competition. Typically, there is less competition in the Winter but also less inventory. Late spring and summer usually proves more inventory but also more competition from other buyers.
  5. Final Step: It’s time to segment then rank your answers
    • I find it easier to first segment the responses into a Must Have List and a Would Like List

Example: The home must be at least 5 bed, 4 bath, under a max price of $400K in a particular high school district. All other aspects after that would be on the Would Like List.

Now, let’s rank the remaining items in order of importance on your Would Like List, it’s not necessary to rank all of them, a Top 5 should be all you need.

So that’s it, the 5 steps to creating your home buying plan.

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