DeadWolfBones

Hey all,

I'm moving up to Atlanta with a friend who's going to be attending GA Tech grad school. He's looking to buy a house, 3-5BR, hopefully <=$200k in a relatively nice area with the hope that the property will appreciate nicely over the 4-8 years it'll take him to get the PhD.

We've been looking through various real estate sites and craigslist at many, many, many properties but it's very hard to get a feel from google maps what the actual layout of the city is like. We're coming up this coming weekend to look at places and need to know which areas are likely to yield the best results given our criteria.

Things that are important to us:
1. Commute time, obviously.
2. Security.
3. Culture.

I've been looking pretty closely at the Decatur area, and some places further north like Chamblee. There are some in-town areas that seem pretty nice and not TOO expensive (found some ok deals in Grant Park), but I'm wondering if there are some areas I might have overlooked. Any suggestions?

GoTravel

The problem herin lies in the fact that GA Tech is downtown/Midtown Atlanta and the closest suburbs are $$$$. The moderate ones require a lengthy commute.

Did you check the price of living in a highrise downtown?

I also suggest you take a hard look at sketchy neighborhoods or ones on the fringe.

3-5 bedrooms for under $200,000 close to GA Tech isn't really feasable. The cheap houses near campus long ago got snatched up by wealthy alumni for their kids.

Maybe starrsville can give you better advice.

padams421

Home Park is the neighborhood next to Tech. If there's anything available under $200k, it's a total fixer upper. It is a hot area as the old steel mill just north of Tech as been redeveloped into a mixed use community.

I'm guessing a commute from Tech to Chamblee is 20-40 minutes, probably about the same for Grant Park. The intown neighborhoods of Grant Park, Inman Park, Decatur, etc. do have a few deals left, but there are usually in bad shape, small and in marginal sections of those neighborhoods.

Also, you might find a 3 bedroom inside the perimeter for under $200 but you're not likely to find a 5 bed. The houses intown just aren't that big, unless you go north to Buckhead, and then you can't afford it.

Look at West Atlanta and the Bolton Raod areas. These are gentrifying neighborhoods and there may be some real esate deals to be found. Those areas are only 10-15 minutes from Tech.

Are you willing to consider a condo? There are lots of new condos around midtown and downtown.

Finally, I highly suggest that you visit Atlanta and spend a couple of days with a realtor who will show you the intown neighborhoods and what your options are.

DeadWolfBones

Thanks for the responses so far.

What kind of commute could I expect if I were living in the southeastern areas of Decatur (nearer the 402/407 junction)? Is that area alright? There seem to be tons of 3-5BR places there well under $200k, and new ones at that.

padams421

If you were far enough south in Decatur to come into downtown on I-20, it would probably take 30 minutes at rush hour, 20 minutes in the middle of the day.

mpkp

Chamblee is very ethnic neighborhoods -- parts of it would be ok but a lot of it I would not want to consider. I would not be comfortable around Buford Highway, for example.

I like Decatur a lot but again, you must pick the neighborhood. It would be convenient to GA Tech -- 15 - 30 minute commute and could be reached by public transportation-- MARTA. Parts of this city are in transition.

You might also want to consider Fulton County vs Dekalb -- taxes in Fulton tend to be higher -- I think -- have not looked at it in a while. And if you end up in the city of Atlanta limits, your property taxes will be high.

A real estate agent can help you with the neighborhoods and the taxes. Also consider school districts if you are considering resale.

Make sure you get an agent that knows the areas you are interested in -- driving around the different neighborhoods and noting who seems to appear a lot on the signs is one way.

I am not a huge agent person but this would give you a good start in a short time with the areas you are interested in.

Have you ever purchased a house before?

DeadWolfBones

I haven't bought before, no. It's my friend who will actually be buying this time, but I'm what you might call an interested observer (since I'll eventually have to do the same). Since time is drawing short for him to get up there--classes start mid-August--we might end up renting for the first 6mo/1yr so that he can take his time looking for a house. But we'll see how it goes.

Thanks for the heads up on taxes; that's something I'm pretty sure he hadn't considered.

mpkp

renting for a while would be a great idea.
Much better than purchasing something and finding it does not meet your needs.

padams421

I agree that renting for a while would be a great idea so you and your friend could get to know the city better.

skriker

DeadWolfBones -
I would be very wary of any neighborhood that has many 3-5 bedroom homes for sale for less than 200K. Crime will be a problem there - no doubt. I, for example, live in a "transtional" neighborhood just east of Grant Park called "East Atlanta Village". It's a great community but crime is definitely an issue, and it seems you can no longer find even a two bedroom home in good condition for less than $200k there.

By the way, my commute to the GA Tech area is 20 minutes even in the heaviest traffic every morning - which is pretty good for Atlanta.

I would recommend that you find a good intown agent to work with and make a chioce of top priority - security, travel time, appreciation potential, price or size. I'd also recommend that you visit Atlanta for a long weekend to check out neighborhoods.

If your budget is flexible and you can go up to 250 - 300K, you'll find much better prospects.