What cities around Atlanta are best for buying a home and reselling in about 4-8 years?
March 4th, 2008The answer to that question is dependant on how far out from Atlanta you want to look, and what price range you prefer. Here’s a broad overview. The areas that are very close in – Dunwoody, Sandy Springs, Roswell, Alpharetta, Marietta, Smyrna and Vinings – have not only not lost value in the current recession, but are continuing to appreciate somewhat. Because of the cost of gasoline, I think this is a trend that’s here to stay. The closer to the city, or to a substantial commercial hub such as Windward, the stronger the home values will remain.
If you are considering an area a little farther out, then the strongest areas in the last 5 years have been Woodstock, Cumming, Buford and Dacula. This was largely driven by the excellent schools in most of these areas, and the reasonable home prices.
If you prefer to be farther still, Braselton is coming on very strong, as is almost all of Henry County.
The area around Camp Creek Parkway would be my bet for the best appreciation in value over the next 4 – 8 years. This is virtually undiscovered territory. It’s only minutes from downtown, yet there is still a lot of land available, and the builders are taking advantage of this. Home prices are much lower than in other areas this close in. Schools may be in question, but as people move to the area they should improve.
If you’re willing to be an “Urban Pioneer” areas in transition from old and rundown to renovated and new are always a good bet. The areas that are very strong right now are Kirkwood and East Atlanta, with lots of new development coming into these neighborhoods. Mableton is also undergoing an amazing transformation.
Please note that these are simply the trends we’ve seen in the last few years. I hesitate to make predictions any more, because with the current market the way it is, all bets are off.