10 Tips for Buying a New Home in Atlanta

Thinking of moving to Atlanta? The home buying process, let alone a home specifically in Atlanta, can be very easy or overwhelming, depending on your preparation and the information you can gather. One of your new home buying decisions is the type of builder that best suits your needs. Your terms can include everything from location, price, community standards and workmanship to post-closing issues like builder warranties.
The following are summaries of 10 things to consider when buying a new home in Atlanta. This information should allow you to ask the right questions and get you one step closer to buying your new home with confidence and ease.

1. Different types of builders

Production Builders – These builders typically have multiple plans per community and with different elevations. With this type of construction, many homes are usually built at the same time, allowing for perpetual inventory and faster closings.

Custom Builders – These builders typically build to the customer’s specifications. This type of construction usually does not begin until a contract is written and accepted.

Most national builders are a combination of both types. When visiting a housing site, you may see standing inventory, homes under construction, and parcels of land cleared for future housing sites. During any of these phases, a contract can be drawn up and specifications requested under a specific builder. Building a house can take from 3 to 9 months or more in some cases.

2. Registration process

In most cases, when you enter the on-site sales office, you will be asked to fill out some type of registration card. This is merely for contact information. Allow the agents in the office to manage your service experience since most of them work on commission. This helps eliminate any confusion in the communication process.

During the registration process, it’s important to let the on-site agent know if you’re working with a real estate agent. If you use the services of Greentree Realty, you will receive a 1.5% discount on the purchase price of your new home. Whether you buy directly from the builder or through Greentree Realty, the purchase price and builder incentives remain the same. The only difference is, with Greentree Realty representing you at closing, you will receive 1.5% of the purchase price at closing.

3. Agent on site

THEY WORK FOR THE SELLER! THEY WORK FOR THE SELLER! Many people who buy new homes in Atlanta believe that the on-site agent works for them. When it comes down to it, the on-site agent is working for the builder. The more information you have and the more questions you can ask will play a determining role in your experience.

4. Availability of Options

Options should be considered in two ways:

Structural – Structural options include additions and deletions involving rooms, walls, windows, layouts, etc.

Interior/Exterior – Options offered may include flooring, cabinets, countertops, landscaping, fencing, color schemes, etc.

So the next time you walk into a sales office and are shown a well-appointed model home, be sure to ask what the standard features are and what is considered an upgrade. During the process, the true base price of the house will be revealed to you!

*Many of the options available depend on the stage of construction of the home. Always ask and confirm what is and is not available to you while previewing the homes with the on-site agent.

5. Availability of incentives

Builders will often provide incentives for buyers to purchase through the builder loan tree. These incentives may include paying a portion of closing costs, design center allowances, appliances, or paying HOA initiation fees. Example: ABC Building Company offers 3K in closing costs to customers who obtain a loan through ABC Mortgage.

Before looking for a new home, it’s a good idea to get pre-approved or pre-qualified. What is the difference?

Prequalification letter: based on verbal and preliminary verifications that help determine the purchasing power of the buyer.

Pre-Approval Letter – Based on extensive verbal and factual confirmations regarding the purchasing power of the buyer. The lender is actually committing his resources to his deal.

Why have an approval letter? – This will help narrow down your search and can sometimes even be used as leverage in deciding which lender to use.

If you find your dream home while you’re away, the process can be started with the builder’s loan arm. This could involve a short waiting period before a contract can be signed and ratified.

6. Construction contracts

Contracts provided by most builders are generally standard documents. As with any contract, it is important to read it carefully and/or seek advice if you feel it is necessary. Understand your rights and restrictions.

7. Communities of Owners

Many communities in Atlanta have homeowners associations (HOAs). HOAs help maintain the appearance of the neighborhood and support the services offered, which are structured by community. At some point during the purchase process, you may be provided with a copy of the HOA bylaws.

8. Closing your house

The lawyers involved are usually affiliated with a particular builder, so the on-site agent who has been facilitating your contract will not be present at closing. Closings generally go smoothly because many issues that arise during traditional real estate transactions are not a factor in transactions involving a new home. That’s not to say things won’t work out, but if you’ve done his part as a buyer, the road is pretty straightforward.

9. Warranty

Warranties provided by builders cover post-closing items that may or may not occur during the covered life of your home. Most builders extend a 2/10 year warranty. The process, items covered, and duration will differ from builder to builder.

10. How does our program benefit you?

To help answer the question, we’ve listed the top customer responses about our program!

The question we asked:

Based on your experience with our program, what would you say to clients they can get by using Greentree Realty’s New Home Buying Program?

200K                 300K                500K             1 million
Cash Back         Cash Back            Cash Back      Cash Back
$3,000               $4,500             $7,500             $15,000

1. Receive 1.5% cash back in your pocket off the base purchase price!!!

2. You can use 1.5% to help with the first few months of mortgage payments.

3. You can use 1.5% to help pay for furniture or furniture treatments.

4. You can use 1.5% to help build a fence.

5. You can use 1.5% to help buy that new plasma you’ve always wanted.

6. You can use 1.5% to open garage doors.

7. You can use 1.5% for your dream paint job.

8. You can use 1.5% for a pool table for the game room.

9. You can use 1.5% for flowers/plants for your new landscape.

10. You can put 1.5% towards that vacation you’ve been planning.

11. You can use the 1.5% to help or even pay your moving expenses.

12. You can use 1.5% of the new lawn mower for the new lawn.

13. You can use 1.5% for that grill and smoker you’ve always wanted.

14. You can use the 1.5% to pay off a full year of HOA owed.

15. You can use 1.5% to help pay for a deck that reflects your needs.

16. You can use 1.5% to help buy a new home theater system.

If you have any questions about the home buying process, please email [email protected] or call us at 770-755-1805.