The other day, it was interesting to read a featured commentary on the MoneyCrashers.com website. It promised to pinpoint the “6 Factors” to consider when deciding whether you “should buy a home now— or wait?” No dateline was visible, but you’d have to deduce that it had first been published a while ago. The absence of any mention of today’s changing circumstances and the uncertainties ahead made it pretty clear that it had been written in pre-pandemic days (remember those)? Even so, the “6 Factors” do hold their validity. They may not cover all the key considerations—but they do set the stage for that very weighty decision.
The first factors dealt with financial viability. Realistically, those first three are basic qualifiers for buying any home in Forsyth County. Counted as #1 was a buyer’s current state of finances—having the financial wherewithal, including a provision for emergencies, to fund the process. The second was the stability of future income (a factor that’s suddenly become less predictable). We can hope this soon becomes more foreseeable as we move further into 2022. The third factor dealt with having an adequate credit score. Those first three are all factors without which buying a home would be imprudent, if even possible.
The remaining three factors were more subjective but also more original and thought-provoking. A commitment to staying in one place may be personality-driven, but has ramifications that are also financial. A buyer who might not stay rooted in Forsyth County for at least three years would usually be better advised to settle for renting—thus avoiding the expenses of buying and selling in a compressed timeframe. Next, commitment to homeownership is a sometimes overlooked quality-of-life consideration. Without the willingness to take on home repair and maintenance challenges, the pride that homeowners take in mastering those skills can instead become a collection of drudgery-laden burdens.
The final factor was the “state of the current real estate and credit market.” Half of that one is clear: the state of the ‘credit market’ part with 3 planned rate hikes looming. The other part—the state of today’s Forsyth County real estate market—is easily determined. Just give me a call!
This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.
I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
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