Level Up With Lee: Buying Real Estate

Key Takeaways

• Kitchen and bathroom upgrades are the highest ROI home improvements; in this seller's market, a clean home may be sufficient since many buyers want to renovate themselves
• Home buyers must be 'ready, willing, and able'—get pre-approved financing, have a high credit score (620-640 minimum, 680+ for conventional loans), and save for a down payment before making offers
• Don't ask for seller concessions like closing cost assistance in this market; sellers will simply relist and accept offers from less demanding buyers instead
• Rising interest rates will reduce buying power this year—lock in rates now before multiple scheduled increases, as a 1% rate increase can significantly lower the amount you can afford
• Out-of-state buyers relocating from expensive markets (California, New York, Chicago) are willing to pay premium prices for Atlanta homes, bidding over list price and driving up competition for local buyers