The real estate market has been a bit of a rollercoaster over the last year. Homebuyers on the hunt for their dream residences are finding increased prices and decreased inventory. However, this has opened the door for the new home market to emerge as an excellent option for buyers. In fact, homebuilders across metro Atlanta have stepped up to the plate with the development of spectacular communities and new homes that are beyond compare. To get the 411 on what’s really happening out there, KNOWAtlanta talked to Lori Lane, Senior Vice President of the New Homes Division for Berkshire Hathaway HomeServices Georgia Properties. Here, she shares her insights on the current state of the market and what you can expect when you decide to purchase a brand new home.
How do you describe the current state of the new home market in metro Atlanta?
The new home market continues to remain strong, despite the record low inventory. We are currently seeing younger generations, specifically millennials, enter the market, and that partnered with historically low-interest rates is keeping new construction at the forefront of those looking to purchase a home.
Why is now the right time to look at new homes in metro Atlanta?
There are so many benefits to new construction right now. With so little inventory on the market, you have limited options when buying a resale, and if something really attractive hits the market, you most likely have several other people making an offer at the same time. You often need to be willing to close fast with no contingencies and possibly increase your offer; even then, you may lose to another buyer. Or the home you selected might not even be what you really want. With new, you may purchase a home that is months from closing, but you get to choose the home style you like, select the features and order furniture in advance. Plus, you end up with a new roof, new HVAC, new appliances and a builder warranty. It also allows you peace of mind to sell your current home and plan your move.
What are your tips for making the best decisions in today’s new home market?
Because homes are not remaining on the market for very long, I think that it’s important that you be very clear on what you can afford and get prequalified. You should be sure of the location and which type of home best suits your needs and know the timing of when you can move. Most importantly, you should have an agent who is there to help you with the contract and buying process. It is best to be fully ready when you decide to write a contract so you can be confident in that decision.
What makes today’s metro Atlanta market really stand out?
Compared to other large cities across the nation, Atlanta is still a very affordable housing market. The diversity in demographics means that there are a wide variety of buyers and communities that appeal to any price point. Atlanta offers a low cost of living with all of the high-end amenities that come with living in a metropolitan area. We also have a very strong economy compared to other parts of the country that completely shut down for months due to the pandemic.
It’s such an unusual market right now. What do you see for the future of new home development in metro Atlanta?
Atlanta is becoming a rising spot for numerous industries, including film and music. I think we will see more and more people choose to call the Greater Atlanta area home due to its booming economy. Sales will continue to remain strong, especially as material prices level out and millennials continue to enter the buying market. Sales pending are trending upwards, which means that closings should follow suit, so I am confident that we will see the market remain strong.
How do Berkshire Hathaway HomeServices help home buyers navigate the new home market in metro Atlanta?
Our local reputation goes without saying. With 26 offices and over 1,400 agents, we have experts in real estate all across metro Atlanta working with buyers and sellers. We have the top relocation department in the area that has assisted in countless corporate moves, and year after year, we have received the Consumers’ Choice Award (CCA). Part of our power is our alliance partners who offer a full-service experience for our clients and customers; Weismann Law, Prosperity Home Mortgage and HSA Home Warranty allow us to guide our clients through every step of the home buying process. Additionally, our New Homes Division and builder/developer clients have won hundreds of awards for excellence in new construction, and we represent some of the most respected builders and developers in the Atlanta Metro area. All of these entities partner together to ensure that the new construction home buying process is seamless.
For more information, visit Berkshire Hathaway HomeServices Georgia Properties’ New Homes Division at BHHSgaNewHomes.com.
New Home Communities Abound in Metro Atlanta
Are you ready to find your dream home in metro Atlanta? Check out these fantastic new home communities around metro Atlanta as you begin your search:
A mixed-use community designed for creatives, Trilith is located in Fayetteville adjacent to Trilith Studios, one of the area’s most popular production locales. Offering everything from single-family homes and micro-homes to industrial lofts, the community is dedicated to helping residents live an eco-friendly lifestyle. Homes range from the $500s to $2 million+. Visit Website.
Soleil Belmont Park
An active adult community coming soon to Canton, Soleil Belmont Park will offer homes starting in the $400s. The well-appointed residences, built by Patrick Malloy Communities, will be accented by large home sites, resort-level amenities and more. Presales begin this fall, with the first residents settling in Spring 2022. Visit Website.
The Enclave at Dunwoody Park
This gated enclave of 36 architecturally detailed new homes blends craftsmanship with convenience. The community features charming streetscapes, a central neighborhood park and more. The two- and three-story four-sided brick homes, starting in the $800s, include spacious interiors, gourmet kitchens, spa-inspired baths, elevator options and more. Visit Website.
The Homestead at Milton
Sitting on a former 180-acre golf course, this lovely new home community boasts 30 home sites of four to ten acres each. Every home, envisioned by award-winning architect Stephen Fuller and built by Loudermilk Homes, will feature its own unique characteristics brimming with outstanding Southern architecture and outstanding amenities. Once you purchase a home site, you will be part of the home design process from initial consult to completed drawings. Homes begin at $2.5 million. Visit Website.