On a recent episode of HGTV “House Hunters,” a single man from DC recently relocated to Georgia for a great job. He decided to save his money and buy a budget-conscious home in Atlanta. But can he get all the bells and whistles for under $40,000?
Paul Moves to Atlanta
On HGTV “House Hunters,” Paul is a DC native who moved to Atlanta for a job with a management consulting firm. He decides the housing market is good and want to purchase a condo for no more than $40,000. Paul saved the money and intends to use cash to buy a home. This will give him more buying power in a competitive affordable housing market.
Paul's best friend has come to visit and is helping him choose the right home. There is no need to get a mortgage and Paul is working with a dedicated real estate broker. He current has a place downtown and enjoy being able to walk everywhere. He lost a great deal of weight and appreciates every opportunity to be active and get to the gym for workouts. Paul is looking for a place with 1-2 bedrooms and a bath that is dark with a flat wall for his projector.
Searching for Condos
The search is on and Paul is ready to find a home of his own. He realizes the house might need some renovations and is also willing to put up to $5,000 into the right place to make it his dream home. The first home is priced at $44,000 with 2 bedrooms and 2 ½ baths as well as a garage. The home is two levels with a negotiable price tag. There are double sinks, a jacuzzi tub and a bonus room. The monthly homeowners fee is $170 which includes exterior maintenance. The place is rather old-fashioned and is located 10 minutes from the desirable downtown area so Paul is unsure. Paul's best friend notes he is still single because he wants perfection.
The second potential home is a Central City condo with 1 bedroom and 1 bath. It is a foreclosure priced at $42,000, which is also negotiable. It has bells and whistles such as wood floors, high ceilings and granite counters. There are modern appliances, a breakfast nook, a pantry and stainless steel appliances. The setup is open with no doors on the bedroom or closet. Paul does not particularly like the fact it is on the ground floor. However, the place is move-in ready with a courtyard to the fitness center, club room and pool.
Finally, the third home is a high-rise condo priced at $42,000. It is located just a block and a half from Paul's current apartment. The building has a pool, concierge, fitness room, club room and assigned parking. The 1 bedroom, 1 bath condo has a balcony with a fabulous view of the downtown and midtown areas. There are tile and wood floors with a small bathroom that has a glass enclosure. The place also has a washer and dryer. Paul feels it might be too well-lit for his projector. Also, the homeowners monthly fees are $346 per month.
Choosing the Right Space in Atlanta
Paul deliberates before he makes a final decision about which house to buy. Ultimately he decides on the first home with 2 bedrooms and 2 ½ baths. He scored the home for just $33,000 and will have money to make some renovations including new floors, appliances and counters. Paul likes having an extra room where visitors can stay. He also got a dog named Rocco and goes on frequent walks with his new companion. The gym is just 2 blocks away and Paul is only a few minutes away from the downtown area. He is pleased to be part of an up-and-coming neighborhood in his new Atlanta home.
HGTV “House Hunters” airs weeknights at 10:00 p.m. ET
Image Source: Wikimedia Commons Daniel Mayer