We’ve gone through some turbulent times in real estate, no doubts there! Many people purchased when the market was hot, hot, hot and are now faced with challenges to sell based on the current market value of their condominium.
But for the Buyer, this means the values are much lower than they were in the past, and afford you the opportunity to purchase at a lower price than others may have in the past! So there is the first part of the Buying equation — Low Prices +.
What Are Interest Rates To Buy a Midtown Atlanta Condo?
The second part of the equation, or cost to buying a Midtown Atlanta condo is your loan, and especially your interest rate, the “cost” of borrowing that money. If interest rates are low, you may be able to afford more in the purchase price of your condo because of that low rate. Well….
Less than T-H-R-E-E percent for a 15 year mortgage and 3.5% for a 30-year! That is simply amazing. Want a comparison? My own home loan is at 5.5% and my equity line at 6.5%. If ONLY I could refinance!!! But the point here is —
Low Prices + Amazing Interest Rates = Time To Buy A Midtown Atlanta Condo!!
Of course, you need to keep other factors in mind. Some of those are your personal lifestyle. Is your job secure and no foreseeable transfer coming? 99% of the Midtown Atlanta condo buildings are capped on on leasing permits, so you would not be able to rent out your condo if you had to make a job move.
You also want to “buy smart” in a building that is seeing price appreciation and is in a desirable location. That is where your real estate agent comes in!
Step Number One is to get you Pre-Approved for your mortgage, and the we can go shopping for the right Midtown Atlanta condominium for you! Give Michelle a call today and let’s put that equation to work for you! And of course, call me at 770-713-1505 so we can talk about what you are looking for in your new home!!
