Buyer Boot Camp!

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Do you really need to put 20% down when purchasing a home? SPOILER ALERT: You don’t! Do you know what happens after you go under contract? Have other questions you’ve been too embarrassed to ask about in the past?

Join us at our Buyer Boot Camp on September 24th at 6:30pm & ask us all the questions you’d like. We’ll even have a mortgage lender present to tell you all there is to know about financing.

We know you’ll be coming from a long day at the office, so we’ll have yummy appetizers and beverages waiting for you. It will be a fun, casual conversation about what to expect when buying your first home.

And, the best part? It’s FREE! Whether you’re looking to purchase a home in a few months or even a few years, our Buyer Boot Camp is a fun way to prepare for the home buying process. Feel free to bring a friend or two! We can’t wait to see you!

To learn more and RSVP, please click the link below. https://macdonaldteambuyerbootcamp.eventbrite.com

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Tyler Perry Selling Sprawling Estate for a Whopping $25M!

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Tyler Perry has officially put his North Buckhead mansion on the market for a whopping $25M! Sitting on 17 acres along the Chattahoochee River, this 34,688 sq. ft. mansion with 7 bedrooms and 11.5 bathrooms is downright incredible.

Fully equipped with a legitimate parking deck topped by a tennis court, a massive pool with swim-up bar, lush gardens, an underground ballroom, and yes, of course, a large screening room to watch movies.

To see pictures and read more about this massive estate, check out the article on Curbed Atlanta: http://atlanta.curbed.com/archives/2015/06/18/tyler-perry-to-construct-new-house-on-1000-acres-otp.php

7 Common Mistakes to Avoid when Purchasing a Home

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It’s very common for first time home buyers to make mistakes during the home buying process. Mistakes can add unnecessary stress to the challenges you will already be facing. Planning ahead can save you time, energy and money. Plus, it will make the process much more enjoyable!

Here are 7 common mistakes to avoid when purchasing a home:

1. Thinking you can do everything on your own.

A real estate agent’s role isn’t just finding you properties to see. It’s more about presenting your offer to the sellers in a way to help it get accepted & stick through the closing process.

Even after going under contract on a house, you have to make it through an inspection & appraisal before you close on the property. An agent will help you navigate these obstacles.

If any issues are discovered during the home inspection, for instance, an agent will be able to tell you if requests for a repair are reasonable. If a home is in good condition, a small repair could make or break a deal!

Say the appraisal comes back lower than the price agreed upon in the original contract, an agent will help you negotiate a price reduction. It’s important to have someone with experience protecting your best interests when purchasing a home.

2. Thinking it’s too early to start.

It can take months to find the right home & even after an offer is accepted, it can be another 30-45 days to close on the property. It’s never too early to start talking to your agent!

3. Expecting to get the price down after making an offer.

Always make offers you are comfortable with in the beginning. Although it’s possible a home inspection or appraisal may allow you to request repairs or a slight price reduction, you should never go under contract on a home expecting that to happen.

It’s also important to note that you should never overspend on a home. Although you might qualify for a million dollar house, that doesn’t mean you can actually afford it.

Set your budget at the very beginning & stick to it. Remember to calculate for costs such as property taxes, insurance & utilities.

4. Chasing deals at all costs.

Today’s market has conditioned home buyers to think there’s always a better deal around the corner, but that’s not always the case.

While it’s possible a bigger, less expensive home might come on the market the day after you move-in, it’s even more heart wrenching when clients regret passing on the perfect home, because they’re too busy chasing deals.

Don’t pass on a good opportunity, because you’re too focused on finding a better deal. Make sure you’re purchasing a home that fits your needs.

5. Not thinking like a seller.

Keep in mind that you’ll eventually want to sell your home. It’s very unlikely you’ll live in your first home forever. Look for features that will help you resell.

6. Skipping the home inspection.

Home inspections aren’t required, but if you skip an inspection, you’re financially responsible for any issues that may arise after the closing.

An inspection may reveal things like structural issues, faulty wiring or other problems below the surface that may not be visible when you walk through the home.

A home is probably the largest purchase you’ll make in your lifetime, make sure you’re getting what you think you’re getting!

7. Limiting your search.

You may have a certain neighborhood in mind, but if you keep your search too limited, you may miss out on the perfect home not too far away.

By avoiding these common mistakes, your home buying process will be much more enjoyable. If you have any questions or would like help searching for a home, we’d love to hear from you.

So you want to buy house? Now what?

Here are the steps to the home buying process:

  1. Choose your agent! Hint, hint: The MacDonald Team!
  1. Get pre-approval for a loan. You can actually do this before selecting your agent, but if you need a referral, your real estate agent should have some good ones.
  1. Your home search begins! And, the fun starts!
  1. Submit an offer on a home. Be prepared for possible negotiating.
  1. Your offer is accepted. Hold on! Patience grasshopper, it’s not over yet!
  1. Provide your agent with an earnest money deposit.
  1. Your agent helps you schedule an inspection & an appraisal.
  1. Commit to your mortgage & start preparing for your move.
  1. Attend the closing. Usually 30-45 days after offer acceptance.
  1. Move into your new home! PHEW! You made it!

Are you thinking about purchasing your first home? If not, you should be!

Let’s be honest, buying your first home can be a little overwhelming, but it can also be an exciting and rewarding experience. We’re here to help make the experience as smooth as possible, and we feel the better prepared you are, the more enjoyable the process will be.

Let’s start with the basics! Why own?

Here are 5 reasons why you should consider owning a home:

  1. You’ll own a home that is “yours”It can be customized to your specific taste from paint colors to remodeling.
  2. You’ll build equityEquity in your home is the amount you can sell it for minus the amount you owe. Every month, when you make a payment, you reduce the amount you owe, thus increasing your equity.
  3. You’ll have stability – Rental rates can rise over-time, but with a fixed-rate mortgage, your monthly payments will stay the same, making it easier to budget & save for the future.
  4. You may have tax benefitsInterest on your mortgage and property taxes may be deductible.
  5. Most importantly, you’re not throwing away money on rent You have to live someplace! Why pay your landlord’s mortgage when you can pay your own?

Over the past decade, the real estate market has shaken everyone’s confidence in home ownership, but we’re in a new market now, and as long as you stick to a home you can afford, you’ll gradually build wealth. Homes are expensive, but they are totally worth it!