Tag Archive for: neighborhood

Millennial First Time Home Buyers in the Greater Athens Area

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Millennials Search for Unconventional Down Payment Funds, but at What Cost?

We’ve had several questions from customers recently about unconventional down payment funds, and wanted to share this information with you to potentially help you out! Interested in looking for your first home in the greater Athens area? Submit a request for contact or give us a call today! We’d be happy to walk you through the first time home buyer process and know what to plan on throughout the process!

Information and photo via Keller Williams

By Liz Dominguez decorative image Millennials meeting with REALTOR Rising home prices are standing in the way of millennials who want to buy their first home; however, these challenges are being overcome via some unconventional methods. Millennials are getting creative and finding sources for their down payment by any means necessary. But are these methods hurting the millennial generation financially?

Borrowing from family: Sure, gifted money doesn’t sound bad. But what if the families don’t have the cash to give? Instead, buyers are asking that their parents’ home be refinanced, using the home equity as a way to fund their own home purchase.

Of course, this can be beneficial in multiple-offer situations to get a competitive edge with an all-cash offer, but borrowing from a relative can go south fast. Not being able to pay a bank back can have repercussions like lowering a credit score, but missed payments to a relative can damage familial relations. Is it worth the risk?

Crowdfunding: There are new crowdfunding platforms being introduced every year, and more of them are tapping into the real estate industry. This can be a great way to amass gifted money from friends and family, but not everyone may see it that way. Instead of crowdfunding for their honeymoon, newlyweds are asking their wedding guests to donate toward their first home.

This method can get complicated in the lending world. Buyers will need to look into gifting regulations before accepting any gifted money.

Three Signs Your Neighborhood is the Next Big Thing in Athens

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Three Signs Your Neighborhood is the Next Big Thing in Greater Athens

And what it might mean to you!

Is your neighborhood the next hot spot? (Info via KW)
If you suspect that your community is the next trendy neighborhood, you might notice the following changes:

New Businesses Are Moving to Your Area:
Hot new restaurants, boutiques, and hip coffee shops might be the first indication that your neighborhood is up-and-coming. Businesses conduct extensive research before setting up shop, so they often detect the next hot neighborhoods before anyone else.
For Sale Homes Are Spending Less Time on the Market:
We will gladly provide you with data on how long homes are spending on the market (referred to as days on market or DOM). The shorter the DOM, the more desirable the neighborhood.
Houses Are Being Renovated with Modern Details:
Homes that have been remodeled with today’s buyers in mind are often the beacons of a popular neighborhood. Look for stylized house numbers, mid-century modern architectural details, and updated landscaping.

Is your neighborhood showing signs that it could be the next hot spot? Feel free to reach out to us for a complimentary home valuation guide to see if now might be the right time to buy, sell, or invest in a new property.

4 Ways To Know If An Athens Area Neighborhood Is Right For Me

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4 Ways To Know If An Athens Area Neighborhood Is Right For Me

Ask Jennifer… How do I know what the right neighborhood is for me?

 

Today’s customer question of the day… How do I know if a neighborhood will be right for me? Below are 4 thoughts from KW to help you answer this common question.

  1. CHECK OUT THE STATS: Crime data, both the volume of crime and the types of crime, and school performance data are important when thinking about what’s best for your family.
  2. SEE WHAT THE NEIGHBORS ARE DOING: Get a sense of local activities, and see if it looks like a place with frequent block parties or if people may keep more to themselves.
  3. LEARN THE TRAFFIC PATTERNS: Find out if there are frequent jams, or if a nearby farmers’ market limits road access during weekends.
  4. LOOK FOR LOCAL AMENITIES: Make sure you explore the area to find things that matter to you, like local coffee shops or parks.

Your choice of neighborhood can be one of the key decisions in deciding where you’d like to live. The choice of neighborhood in the greater Athens area also normally entails deciding what type of amenities you would like, how close to the city or events you want to be, and more! Don’t leave all this information to chance! We’d love the opportunity to guide you through this process. Submit a request for contact or give us a call today to let us create a custom plan for your next move.