57 minute read
More Than a Century of Big Business
For years, a buzz has been building around the business community in Atlanta. Its growth has been unprecedented, as new industries, market sectors and companies of all sizes have either launched in or relocated to the city and its surrounding areas. Yet, Atlanta has actually been a hub for big, thriving businesses for decades. In fact, for more than a century, the metro area has been home to some of the most successful companies in the world. And there are four in particular that stand out not only as big business juggernauts, but also as brand trailblazers.
The Coca-Cola Company
Founded in Atlanta by pharmacist Dr. John Stith Pemberton in May of 1886, The Coca-Cola Company put the city on the map in terms of business opportunities. Jacob’s Pharmacy in Downtown Atlanta sold nine Coca-Cola drinks per day in the company’s earliest days; today the company is worth more than $83 billion and sells more than 1.8 billion soft drink bottles per day. The Coca-Cola Company employs more than 86,000 people worldwide and continues to grow at an impressive rate. Its products are as beloved as they are widely known, and the company strives to innovate in an array of areas. It is one of Atlanta’s iconic brands, and it remains a symbol of Atlanta’s business community roots.
Delta Air Lines
Started as a crop dusting business in Macon, Georgia, in 1925, the now famous major airline began offering passenger service in 1929. It wasn’t until 1941, years after finding a way to offer affordable passenger service thanks to a new air mail contract, that Delta moved its headquarters to Atlanta from Monroe, Louisiana. It grew as a regional airline and, over time, expanded to become one of the world’s most prominent and well-known carriers. It is a $47 billion company that employs more than 91,224 employees, and its global headquarters can be found at Atlanta Hartsfield-Jackson International Airport. Today, Delta Air Lines serves as many as 200 million passengers per year.
The Home Depot
The first two Home Depot stores opened in Atlanta in 1978. Seeing great potential in the home repair DIY market, founders Bernie Marcus and Arthur Blank created a shopping experience unlike any other, complete with highly skilled employees that could offer advice, guidance and instructions for completing a wide array of home-based projects. Today, The Home Depot, with an annual revenue of more than $110 billion, is the leading home improvement retailer in the country. The Atlanta-based organization employs 413,000 salaried and hourly employees and boasts nearly 3,000 stores worldwide.
UPS
In 1991, the United Parcel Service (UPS) made a pivotal decision to move its corporate headquarters to Atlanta. The company, which originally was founded in 1907 as the American Messenger Company, recognized the huge benefit of being located in one of the most dynamic cities in the South: access to Atlanta Hartsfield-Jackson International Airport. The move initially brought more than 1,000 employees to Atlanta, and in only its first year in the city, UPS generated $325 million for the local economy. Now, with more than $71 billion in annual revenue and approximately 480,000 employees worldwide, UPS has become one of the most successful and celebrated members of Atlanta’s ever-growing business community.
On The Money
The top financial reasons why people and businesses move to metro Atlanta
By Amy Meadows
Recently, experts from research firm Construction Coverage decided to look at geographic mobility in the United States and identify the most transient American cities. When looking at Atlanta and its data from 2019 (before the pandemic), the researchers discovered that in a one-year span, nearly 86,000 people moved to or within the metro area, representing an astounding 17.1 percent of Atlanta’s population. More than 19,000 of those individuals relocated from other states, while over 3,500 moved from other countries. In fact, according to Penske, Atlanta is second most popular moving destination in the nation.
Of course, it’s not just people who are moving to Atlanta— businesses also are choosing to call the metro area home. From Fortune 500 firms to burgeoning startups, companies are making their way to the ATL each and every day. In June 2020, Startup Genome recognized Atlanta as one of the top 25 global startup ecosystems. And for decades, Atlanta has been known as a big business juggernaut, with 16 Fortune 500 and 11 Fortune 1000 companies having established headquarters either within the city limits or in surrounding locales. What’s more, Georgia’s business climate has been ranked number one in the country for the sixth consecutive year by Site Selection Magazine, as reported by the Metro Atlanta Chamber.
While a variety of factors go into the decisions that drive both people and businesses to make their way to Atlanta, some of the most important and pressing ones deal with a very particular issue: finances. If you are going to live or do business in a city, then it has to make financial sense. Here, we look at just a few of the financial reasons that make the metro area so attractive to so many.
THE PEOPLE
When people contemplate whether or not they should choose a certain city as their new home, they always consider cost of living. This all-encompassing term refers to a number of elements, from the affordability of housing and food to the health of the job market and access to cultural opportunities. Fortunately, Georgia’s ranking is pretty impressive when it comes to cost of living; the World Population Review notes that it currently is the ninth state in the U.S. with the lowest cost of living, coming in with a cost index of 89.2. In fact, U.S. News & World Report recognizes Georgia as the sixth most affordable state in the entire nation. And metro Atlanta is one of the state’s biggest draws, thanks in large part to the fact that it offers some pretty notable financial benefits that make the area a great option for individuals of all ages.
Homes
No matter where you relocate, you have to have a roof over your head. Not only does metro Atlanta have a great variety of home options, from single-family homes, townhomes and condos to a bustling rental market, but it also boasts a level of affordability that makes it more attractive than many other large cities to which it is often compared. Kiplinger notes that the median home price in Atlanta is around $250,000, giving the city an affordability index of four; that places it ahead of large metro areas like Austin, Texas; Boston, Massachusetts; Miami, Florida; New York City, New York; San Francisco, California; and Seattle, Washington, among many others. And this affordability in the housing market benefits a range of buyers.
“Atlanta generally fares well compared to a number of major metro areas when you look at the cost of living indexes. A good portion of that is housing,” says Kathy Connelly, Senior VP of Corporate Services for Berkshire Hathaway HomeServices. “That affordability is very good for first-time home buyers, who often feel priced out of the market.”
That’s often because the purchase of a home isn’t exclusive to the amount spent on the residence alone. As Connelly notes, there are numerous additional costs associated with homeownership, from insurance and home association fees to property taxes. And while rates and various costs will differ depending on your situation, there are some general numbers you can consider. For example, according to BankRate.com, the average homeowner in Georgia pays just over $1,500 per year for their home insurance policy. When it comes to property tax, SmartAsset.com notes that the median real estate tax payment in the state is around $1,770, which is about $800 less than the national average. (Of course, the rate does vary by county within the metro area.) In some instances, the property tax rate, which sits at around 0.87 percent, is thousands of dollars less than someone would pay in another large city. What’s more, Connelly adds, mortgage interest rates are at historic lows right now. All of this has led to Atlanta being named the #6 City for FirstTime Home Buyers (among large cities) by WalletHub.
In the long-term, a home investment is a great opportunity in Atlanta. FinTech firm Roofstock notes that over the last five years, home values in the metro area have increased a total of 49 percent, with an increase of 5.6 percent in the last year alone. With that kind of return on investment, as well as the savings up front, it’s no wonder
Did You Know?
Travel costs can actually put a big dent in your regular income. Fortunately, Atlanta no longer has any toll roads, making it easy and affordable to take advantage of the metro area’s extensive highway system, which will help you traverse the city and its surrounding counties from north to south and east to west.
why Connelly states that, in many instances, it is cheaper to purchase a home than to rent in the metro Atlanta area.
Jobs
Of course, if you’re going to purchase a home in Atlanta, or fund your lifestyle in any way, you have to have a solid income. Atlanta’s strong economy (even as the pandemic surged throughout 2020) looks to be rebounding and has allowed the thriving job market across a host of industry sectors to remain mostly intact. In 2020 alone, the metro area was named the #1 Metro Area Tech Hub by Business Facilities, as well as the #4 Best Metro Area for STEM Professionals, the #2 City for Professional Opportunities and the #3 City to Start a Career by WalletHub. Some of the key industry segments across metro Atlanta, according to the Metro Atlanta Chamber, are FinTech, Bioscience, Technology and Supply Chain and Advanced Manufacturing. And when it comes to salary, Salary Explorer reveals that, in 2021, the average salary in Atlanta is $95,600, with the highest average salary coming in at around $427,000. And as businesses continue to be attracted to and move into the area, job growth—and the number of good-paying jobs—hopefully will remain on an upward swing. In fact, Invest Atlanta notes that 1.9 million jobs are forecasted to be created in the area by 2040.
Additionally, as Connelly reveals, when relocators move into Atlanta, they often are doing so for work. Yet, they aren’t only concerned with themselves—they also want to ensure that their spouses or significant others have employment options. “This is a very diversified economy. There isn’t really one industry that dominates the entire field,” she says. “And when people are brought into the area, they want to know that there’s employment availability for their partners or spouses as well. And there are employment opportunities here.”
Taxes
Taxes are a key element when it comes to cost of living, and Atlanta residents benefit from an array of low rates. Georgia’s sales tax rate sits at four percent. Atlanta’s combined sales tax rate (which encompasses state, county and city sales tax rates) is 8.9 percent, as Fulton County’s sales tax is three percent and the City of Atlanta comes in at 1.5 percent. The combined rate obviously changes from county to county, as areas outside of the city limits have varying rates, from Cobb County’s six percent sales tax to Henry County’s three percent rate.
Each county within the metro area also offers a range of homestead exemptions that are worth researching and applying for when applicable. For instance, in Fulton County alone, there are several homestead, school tax, senior citizen, low income, disabled veterans and other local exemptions. It’s important to check the local county government for options to help you save money.
THE BUSINESSES
For eight consecutive years, Georgia has been named as the #1 State for Business by Site Selection Magazine. In fact, the state often touts its pro-business environment, which includes everything from access to a skilled workforce and reliable infrastructure to the availability of low business taxes and overall solid fiscal strength. According to Brenda Robbins, Business Recruitment Director for Georgia Power’s Community and Economic Development team, not only is the State of Georgia very business-friendly, but the metro Atlanta area also outperforms many other major U.S. cities in terms of attracting and catering to new and relocating businesses.
“When you think about the success of Atlanta, there are a number of reasons for that success,” she notes. “Companies that move here can attract the diverse talent they need to innovate and to grow, as well as expand their customer base from Atlanta. There’s also a culture of collaboration throughout the business community. And there are attractive real estate options across a range of urban and suburban settings.”
All of these elements make doing business in metro Atlanta both cost-effective and profitable. And that’s the name of the game for many of the companies that choose to call the metro area home.
Business Taxes and Tax Credits
According to the State of Georgia, the state’s corporate income tax structure is ranked sixth in the nation in terms of its favorability. For decades, Georgia’s corporate tax rate stood at six percent; however, in January of 2019, it was lowered to 5.75 percent. This change has been beneficial to businesses moving into and expanding within the area, but it is only one of the many incentives the state, and thus metro Atlanta, offers to companies of all sizes.
Tax credits often are a driving factor for companies considering a relocation or an expansion. In recent years, one of the tax credits that received the most attention was the Georgia Film, Television and Digital Entertainment Tax Credit, which allows a 20 percent tax credit for companies that spend $500,000 or more on production or post-production work done in Georgia. Yet, there are myriad additional credits which companies can take advantage of depending on their individual situations. For instance, Job Tax Credits (JTC) are available to companies that create new jobs in Georgia, while Quality Jobs Tax Credits (QJTC) can provide benefits to companies that create and maintain new jobs that pay at
Business owners and executives have great things to say about Atlanta’s many benefits, including the various financial ones that make this one of the most popular locales for startups and expanding companies.
“Show me another major U.S. city that has quick access to a large number of highly talented, creative people and a 30 percent tax break.” —Matt Thompson, Principal, Executive Producer, “Archer” “Today’s the day where we bring our 127year history and we plant our flag here in Atlanta, Georgia. People ask me why, and I say, ‘Well, really it’s not just one thing. It’s all the things added up. It’s the business environment, it’s the quality of life, it’s the infrastructure.’ Atlanta is a premier city which provides the perfect foundation to write the next chapter of our success story here in the U.S.” —Steve Cannon, CEO, AMB Group, LLC “Atlanta is a great place to do business. It’s also important for us to be in a place that has talent and a business-friendly environment.” —Elie Maalouf, CEO of the Americas region at InterContinental Hotels Group (IHG)
Information courtesy of the Metro Atlanta Chamber and ATL Brand Box.
least 110 percent of the county’s average wage. There also is a tax credit dedicated to organizations that perform research and development (R&D) activities in the state, as well as an Opportunity Zone Tax Credit, which gives qualified businesses a $3,500-per-employee credit against state corporate income taxes for five years if they locate in a less-developed census tract. And recently, a new incentive was developed that rewards companies that create jobs designed to expand the manufacturing of personal protection equipment and hand sanitizer to fight the COVID-19 pandemic. What’s more, additional tax exemptions, grants and loans are available for a wide range of qualifying businesses.
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The Talent Pool
“Atlanta is very highly regarded for its talent pool,” Robbins states. “There are 300,000 students enrolled in higher education, and when you look out at a 250mile radius, there are two million college students [in institutions nearby]. Atlanta is the economic engine for the Southeast, and it naturally draws talent from across the region.”
This large talent pool gives companies that reside in Atlanta a bona fide competitive edge. And because there are so many educated and skilled potential employees within the metro area, many of whom currently attend the area’s highly acclaimed 54 two- and four-year colleges and universities, the length of time it takes to find the right fit for open positions is shortened. This, Robbins notes, helps reduce recruitment and onboarding costs in the long run.
Furthermore, Georgia has been recognized as the #1 State for Leading Workforce Development Programs. It is home to the top workforce training program in the country, Georgia Quick Start, which has trained more than one million employees since its inception four decades ago.
Infrastructure
Building a solid and enduring customer base is the cornerstone of a flourishing business. Atlanta is an ideal location for developing that base, not only because there are so many potential customers here, but also because customers can be accessed easily from across the region and the country, increasing businesses’ opportunity to boost their profits. And it all starts with Atlanta Hartsfield-Jackson International Airport, which has been recognized as the #1 Busiest Airport in the World. The location of the airport, as well as its size and impressive activity, gives businesses direct access to markets across the country and the globe. In fact, upwards of 80 percent of the United States’ population can be reached within a two-hour flight. And it’s not just passengers who move through the airport daily; according to the State of Georgia, more than 650,000 metric tons of cargo is shipped via the airport, which also boasts 1.3 million square feet of cargo warehouse space. And metro Atlanta’s access to a sophisticated highway system, which also leads to key railroad hubs and ports along the East Coast, expands the business opportunities of companies that choose Atlanta as their home base.
In addition, now recognized as a high tech mecca, Atlanta gives businesses access to a fiber optic infrastructure that is second to none. The ability to do business quickly using today’s most innovative technology ultimately gives Atlanta-based businesses a true advantage and the chance to increase their corporate income. It’s all part of the complete package that makes Atlanta one of the most financially viable cities in the nation for companies across a range of industries. n
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A Spectacular Staycation
Relax and recharge around the corner in Alpharetta
Alpharetta City Center
For the last year, we’ve all been city,” says Janet Rodgers, president and to pamper travelers for a special staycadreaming about places we would CEO of the Alpharetta Convention and tion. It’s the perfect opportunity to try go when the time is right to travel. Visitors Bureau. “Alpharetta is filled with that new restaurant, explore a different We’ve mused of excursions to locales a host of awesome restaurants, shops and park and maybe find something new to where we could relax, recharge and just attractions, plus 29 modern hotels ready love about Alpharetta.” have a good time. As we get ready to hit the road again, a near-cation in our own backyard is a great way to start. And one of the metro area’s most popular and esteemed cities is located just a quick jaunt up GA 400. In fact, ask its residents and they know exactly where they would go: Awesome Alpharetta.
“If Alpharetta is where you call home or is just a short drive away, I invite you to live like a tourist in our vibrant Big Creek Greenway
All-in-One Alpharetta
It’s not often that one city has it all, including outstanding shopping, world-class dining and a wide range of excellent entertainment. Yet, that’s exactly what Alpharetta encompasses within its city limits.
Shopping options abound with more than 250 shops located in such destinations as Downtown Alpharetta, the North Point area and
Avalon
Jekyll Brewing
Avalon. Boasting more than 500,000 square feet of retail space and upwards of 60 luxury retailers, including Apple, Lululemon, Pottery Barn and Tesla, Avalon is a resort-style walkable community where you can stroll the boulevard with your cocktail in hand from one of the restaurants while looking for a great fashion ensemble for tomorrow’s Alpharetta excursion. Quaint boutiques and renowned brands also are represented by the abundance of shopping options in Downtown Alpharetta, with more than 35 shops like Magnolia Moon, La Bella Maison, elleB Gifts, All Inspired Boutique, Mountain High Outfitters and Exquisite Living. And the North Point area, which is home to North Point Mall, currently boasts over 100 retailers inside the mall and surrounding it. From REI to Sugarboo & Co, Honey & Hazel to Dick’s Sporting Goods, the North Point area lets you shop ‘til your spending heart is content. In coming years, the mall area will undergo a major redevelopment initiative that will transform it into an open-air mixed-use development.
When the shopping day is done, it is definitely time to dine and unwind, and Alpharetta cannot be beat with its exceptional epicurean scene. More than 200 restaurants—many of them chefdriven—can be found across the city, and every imaginable type of cuisine is available to be enjoyed. Restaurants like Butcher & Brew, Jekyll Brewing, Colletta, Restaurant Holmes, CRU Food & Wine Bar, Ray’s Killer Creek, Secreto, Vinny’s, Farm to Ladle and many more continue to delight everyone’s palate. A myriad of Alpharetta restaurants offer al fresco dining to accommodate social distancing and fresh air for their patrons’ comfort and enjoyment. Want to sharpen up your own skills in the kitchen? Alpharetta also has two cooking schools that provide culinary experiences and workshops for bona fide foodies; Publix Aprons Cooking School and Williams Sonoma Avalon offer an array of classes that allow participants to learn about and savor delectable dishes during a single session.
Of course, Alpharetta has some of the best entertainment venues in the metro area, such as Ameris Bank Amphitheater, Topgolf, Main Event Entertainment and Urban Escape Games. What’s more, the city’s events are can’t-miss community opportunities, from Avalon Nights Live and the Alpharetta Farmers Market to free yoga in Brooke Street Park, the rotating art exhibits at the Alpharetta Arts Center and live music throughout the week at restaurants and venues around the city. You also can’t overlook the countless outdoor adventures available throughout the area. Alpharetta features more than 800 acres of green space and parkland across an array of public parks, which feature playground and exercise equipment, walking trails, bicycle routes and even free workout classes (which are an excellent complement to the many spas, wellness centers and fitness facilities available throughout the city) to help you stay well during your staycation. There are art walks, history walks, music under the stars, outdoor comedy nights, four arboretums and so much more.
The “Stay” in Staycation
There is nothing like opening the door to a fresh hotel room, with its crisp bedding and delightful décor welcoming you for a wonderful stay. In Alpharetta, there are 29 hotel options ready and waiting to help you set the magnificent tone for your close-to-home vacay. From well-known and established brands to up-and-coming names in the hospitality industry, there’s something for every taste and budget. Of course, every hotel in the area has adopted stringent health and cleanliness procedures to help guests feel at ease during their relaxing getaway. From increased cleaning routines to social distancing and face mask policies, these facilities strive to ensure that everyone feels comfortable during their experience.
Explore, Enjoy and Exhale
With all of us eager to get out and hit the road, it’s nice to know that there are destinations like Alpharetta right around the corner that can help us enjoy our surroundings and exhale for a moment. There’s no better time to explore everything that Alpharetta has to offer. The city is waiting. What are you waiting for? n
Before you even put the key in the lock of your new home, you have to prepare the property for your arrival. This means getting all of your utilities up and running as soon as possible after your home closing. Here in metro Atlanta, there are a number of services you’ll need to set up as a new homeowner in the area. Be sure to put these on your list as you begin the process.
Natural Gas
While metro Atlanta may have a temperate climate, you’ll definitely want to warm your home when the mercury dips during the winter months. Also, natural gas is one of the key methods for water heating, cooking, clothes drying and more. You’ll need to select a natural gas provider as you begin arranging your utility service. There are a few key providers that serve the metro Atlanta area, and you’ll want to do some research regarding rates, customer service offerings, possible discounts and more. Fortunately, most natural gas providers today allow you to learn about their service and sign up online, making the process quick and convenient.
Did You Know? Georgia deregulated its natural gas market in 1998. Atlanta Gas Light owns and controls the natural gas pipelines; natural gas marketers work with the company to access the pipelines and then provide gas rate plans and service for customers. Companies like Georgia Natural Gas and SCANA Energy offer both fixed rate and variable rate plans depending on your needs.
Georgia Natural Gas: 888-258-5897 SCANA Energy: 866-353-7835
Electricity
Accounting for 48 percent of household energy use in Georgia, electricity needs to be at the top of your utility service list. Depending on where your home is located, you have options when it comes to selecting your energy provider. You can select a company like Georgia Power, which is the largest subsidiary of the Southern Company, or you may want to consider one of the many Electric Membership Cooperatives (EMCs) that also provide electricity across the metro area; these member-owned non-profit utilities serve more than four million customers and are part of the Georgia Electric Membership Corporation. Again, you can research provider options online.
Water
With the metro Atlanta area being so large and comprised of so many cities, towns and municipalities, it’s no surprise that there are various entities that provide water and sewer service. Typically, your home will be serviced by either the county water authority or, if you live within city limits, the city government. If you are moving into a previously owned home, the former owners should be able to provide you with information. If it’s a new home, the builder can point you in the right direction.
Phone, Cable and Internet
These days, phone, cable and Internet service is just as important as every other utility in your home. In metro Atlanta, major service providers like Xfinity and AT&T are going to be the most common options when it comes to selecting your service, as they cover the entire area. Some counties do offer alternatives, giving you the opportunity to personalize your selection and ultimate service. As with all other utilities, a bit of online research can make the process fast and seamless.
TIP
To see which providers serve the county in which your home is located, be sure to check out KNOWAtlanta Magazine’s County Pages, starting on page 60.
Moving to Atlanta Checklist
There’s a lot of work that goes into coordinating an organized move, and it’s smart to get a head start on planning before the moving truck arrives at your door. Here’s a handy guide to help you streamline some of the most important activities associated with your move to Atlanta.
ONE MONTH Before
o Research your options for moving or truck rental companies and schedule your move. o Collect and organize necessary school, medical and legal records. o Complete a change of address with your local post office or online at usps.gov. o Notify other important parties of your change of address, including your bank, credit card companies, insurance companies and subscription services. o Schedule disconnection of services at your current home and reconnection at your new house, including phone, cable and Internet. o Hold a garage sale or donate items that you decide not to keep.
ONE WEEK Before
o Confirm travel arrangements and pack a travel kit for you and your family members for the move.
o Confirm dates and time of packing and moving with the moving company. If you’re moving yourself, confirm moving truck arrangements.
o Finalize your packing and doublecheck that all areas (including closets, garage, attic and basement) are cleared.
o Pack a “First Open/Load Last” box; include items you’ll need on the first day in your new home.
ONE DAY Before
o Complete a house check; defrost the freezer, drain the water hose and disconnect and prepare any major appliances you’re planning to move.
o Make sure to have cash on hand to tip the team from the moving company.
o Confirm hotel or temporary accommodations, if needed.
o Check the moving company paperwork to identify the USDOT number of the truck that is scheduled; the number appears on the side of the truck and should match on moving day.
PLANNING A MOVE?
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The Price is Right
A look at how far your dollar can go in metro Atlanta’s new home market
By Amy Meadows
In recent years, metro Atlanta has become well-known for the affordability that can be found in the real estate market. Residents who have relocated to the area often are amazed and delighted by the various options they have and the types of homes that are well within their budgets, particularly when it comes to new home construction. Of course, what you get in return for what you spend will depend on a home’s location, features and amenities. To help you get a better picture of what to expect when you begin your own home search out in the local market, KNOWAtlanta Magazine asked some of the area’s top homebuilders to share what they offer within three popular new home price points.
The $300s
#1: A Three-Story Townhome in Greysolon by The Providence Group Where is it located? Duluth, Gwinnett County What is the home like? The Glendale floor plan offers three-bedrooms, 3.5 baths and a twocar garage in 2,000 square feet of space. The open main level layout features a gourmet kitchen overlooking the dining and family room, and the plan includes a spacious owner’s suite and private path, as well as a guest bedroom on the entry level and a second bedroom and laundry on the upper level. Greysolon is a gated community with open green spaces, a grilling area, a dog park and more. Who is most likely to purchase a home like this? Home buyers in every stage of life
#2: A One-Level Flat in Oxley Edgewood by Thrive Residential, A Toll Brothers Company Where is it located? Atlanta, DeKalb County What is the home like? From the Manor Home Flats Collection, which offers seven designs of either one-level or three-level homes, this 870-squarefoot craftsman-style residence features an open floor plan with one bedroom, one bath, a spacious living room, a well-appointed kitchen, a study/office, nine-foot ceilings and more. Rooftop terraces are available on select homes. The neighborhood, Oxley Edgewood, is steps away from shopping, dining and nightlife and gives residents access to grilling stations, a fire pit, a bocce court and a dog run, among other amenities. Who is most likely to purchase a home like this? Professional couples, young families, independents/singles, empty nesters
#3: A Ranch in Riverwood by Davidson Homes Where is it located? Dallas, Paulding County What is the home like? Offering four bedrooms and three baths in just over 2,000 square feet of space, this home is replete with comfort and convenience. It features an open-concept family room and kitchen that are perfect for entertaining, as well as a spacious master suite and additional bedrooms. A rear patio completes the retreat feel of this residence, which is located in a community that offers a clubhouse, fitness center, pool, tennis and pickleball courts and more. Who is most likely to purchase a home like this? First-time home buyers and downsizers
The $300s
1 2 3
The $500s
1 2 3
The $500s
#1: A Two-Story Single-Family Home in Idylwilde by The Providence Group Where is it located? Canton, Cherokee County What is the home like? The Beaufort floor plan features three bedrooms, 2.5 baths and more than 2,300 square feet in a modern farmhouse aesthetic. The master is on the main floor, which also boasts a kitchen with a large island and views to the great room. The terrace level includes two bedrooms, a loft and walk-in storage. The community is gated and offers access to a clubhouse, pickleball courts, walking trails and a community garden. Each homesite is HOA-maintained. Who is most likely to purchase a home like this? Families and empty nesters
#2: A Three-Story Townhome in Oxley Edgewood by Thrive Residential, A Toll Brothers Company Where is it located? Atlanta, DeKalb County What is the home like? A three-bedroom, 3.5-bath home with nearly 2,000 square feet of space, this residence from the Townhome Collection features an open floor plan, abundant natural light, curated designer finishes, outdoor living space and more. It also includes a covered porch, a terrace and a gourmet kitchen. The quiet neighborhood is adjacent to the Edgewood Retail District, with an abundance of shopping and dining options; it also is a half-mile to the Atlanta BeltLine Eastside Trail. Who is most likely to purchase a home like this? Professional couples, young families, independents/singles, empty nesters
#3: A Ranch Home in The Reserve at Governors Towne Club by Patrick Malloy Communities Where is it located? Acworth, Paulding County What is the home like? With three bedrooms, 2.5 baths and more than 2,800 square feet, the Wellington from Patrick Malloy Communities takes ranch living to the next level. The home features an open floor plan that includes a gourmet kitchen with a walk-in pantry and spacious breakfast area, a welcoming owner’s suite, two secondary bedrooms, a flex space that can be used as an office or study and a covered porch. The gated country club community allows residents to enjoy a full-service clubhouse, a day spa and private tennis and aquatic facilities. Who is most likely to purchase a home like this? All kinds of buyers
The $700s+
#1: A Two-Story Single-Family Home in Bellmoore Park by The Providence Group Where is it located? Johns Creek, Fulton County What is the home like? With more than 3,000 square feet of living space, including four bedrooms and 3.5 baths, this home from the Americana Collection is as luxurious as it is functional. It also features a main level owner’s suite, a gourmet kitchen, an upper-level spacious retreat, outdoor living space with an optional fireplace and more. Bellmoore Park is a master-planned, gated community. Who is most likely to purchase a home like this? All kinds of buyers, including families
#2: A Four-Story Townhome in Emerson on Krog from Thrive Residential, A Toll Brothers Company Where is it located? Atlanta, Fulton County What is the home like? Impeccably designed and featuring an open floor plan with ample natural light, this luxury townhome starts at $1 million. It offers approximately 2,500 square feet of living space that includes a gourmet kitchen, three bedrooms, 3.5 baths and more than 400 square feet of additional outdoor living space. Nine- and 10-foot ceilings, wide-plank flooring, a designer lighting package, private terraces and more await new homeowners. The community is located at the corner of Krog Street and Edgewood Avenue, only a walk away from an eclectic entertainment scene. Who is most likely to purchase a home like this? Professional couples, young families, independents/singles, empty nesters
The $700s+
1 2
#3: A Two-Story Single Family Home in Manor Estates by Davidson Homes
Where is it located? Marietta, Cobb County What is the home like? The flexible Catalina floor plan offers four bedrooms, 4.5 baths and a four-car garage in nearly 3,300 square feet. The interior boasts an open-concept design with a ground floor owner’s suite and a luxurious en suite bathroom, as well as additional spaces like a covered porch and a game room. Two expansive garages
3
each boast a two-car capacity. The gated community is just moments away from Downtown Marietta and a host of shopping, dining and entertainment options. Who is most likely to purchase a home like this? Active Adults n
For more information, visit: Davidson Homes: davidsonhomesllc.com Patrick Malloy Communities: pmcommunities.com The Providence Group: theprovidencegroup.com Thrive Residential: livethriveresidential.com
Davidson Homes
From High $200s-$1M+
Davidson Homes is your community builder, providing quality construction and materials, superior value and an unprecedented level of personalization. We keep the home buyer in mind in everything we do, every step of the way. Davidson Homes is now offering a diverse range of floor plans in Bartow, Cherokee, East Cobb, West Forsyth, Gwinnett, Henry and East Paulding counties. Give us a call or visit our website today! (404) 999-1579 davidsonhomesllc.com
The Providence Group
From $300s-$1M
Proud to be the leading luxury homebuilder in Atlanta, The Providence Group offers 20+ communities in Atlanta’s most sought-after locations. The Providence Group features a home design and community to fit every lifestyle, with designs offering a range of options, including third-level retreats, finished terrace levels, main level owner’s suites, gourmet kitchens and more. Community amenity packages typically include gated entrances, pools, clubhouses and lawn care. The award-winning design center allows home buyers to personalize their new home. (678) 990-8561 theprovidencegroup.com
Lennar
From the High $300s-$700s
Lennar Homes creates safe, amenity-rich communities in Cherokee, Cobb, Coweta, DeKalb, Fayette, Forsyth, Fulton, Gwinnett, Hall, Henry, Jackson and Paulding counties. Our Everything’s Included® package adds extra value, including finish, appliance and technology upgrades. We also offer a simple home buying experience, enabling customers to make a lifestyle leap with ease. Tour our floorplans, see all the extras we include and move up to a brand new stylish Lennar home. (404) 931-7462 lennar.com/atlanta
Lake Arrowhead
From $200s-$900s
Resort-style living keeps getting better. Welcome to Lake Arrowhead, a gated mountain, lake and golf community just outside of Canton. The community’s 540-acre lake showcases over 21 miles of shoreline, a marina, lakeside park and hiking trails. Its portfolio includes ranch homes, master-on-main townhomes, luxury lakeside villas and custom lakeside homes. Premier home sites are available. A low Cherokee County tax base and one of the state’s safest cities await you. (770) 720 -2700 lakearrowheadga.com
David Weekley Homes
Mid $300s-Mid $800s
David Weekley Homes has been delighting customers in Atlanta for more than 15 years with four decades of building experience across the country. Weekley is one of the most sought-after builders for home buyers seeking a quality home and unmatched customer service. David Weekley Homes is currently building in communities throughout the Atlanta area, including beautiful homes in Buckhead, Kirkwood, Smyrna, Woodstock, Sandy Springs, Alpharetta and Decatur. (404) 789-3033 davidweekleyhomes.com
Traton Homes/Courtyards at Camden
High $300s-$400s
Nestled in a premier West Cobb location on Mars Hill Road is Courtyards at Camden, Traton Homes’ new 55+ community. Gorgeous ranch homes with private courtyards are perfect for relaxing, gardening or entertaining. Community amenities include a clubhouse, pool, firepit, bocce ball court and dog park. The community is located minutes from the area’s best shopping, dining, recreation and healthcare facilities. (678) 391-9496 tratonhomes.com
Traditions of Braselton
From Low $300s-$700s
Welcome to Traditions of Braselton! Brimming with scenic beauty, this 1,140-acre master-planned community in the foothills of the Blue Ridge Mountains features an 18-hole championship golf course, opulent clubhouse, junior Olympicsized pool, six lighted tennis courts, an active HOA, highly revered schools, convenience to I-85 and more! Stunning new homes crafted by the South’s finest builders are priced from the low $300s to $700s. Traditions has it all! (706) 684-0450 discovertraditionsbraselton.com/KNOW
40 West 12th
From $800s-$2M+
With elaborate detail throughout and chic finish options, the residences at 40 West 12th offer effortless elegance in Atlanta’s premier Midtown neighborhood. From dual-sided fireplaces and floor-to-ceiling glass walls to unmatched marble details and well-appointed kitchens and baths, the uniquely crafted details speak for themselves. (404) 347-3838 40west12th.com
Patrick Malloy Communities
From $500s-$1M+
Patrick Malloy Communities was founded in 1994 by Patrick Malloy, in an era when your home was part of your neighborhood, and your neighborhood a part of your life. Today, Patrick Malloy Communities continues its tradition of building high-quality homes that offer exceptional features in neighborhoods that enhance peoples’ lives. Over the past 25 years, the firm has built more than 7,000 exceptional homes in the Atlanta area, a total of more than $1.5 billion in sales. (770) 635-4090 pmcommunities.com
Thrive Residential, A Toll Brothers Company
From $300s-$1M+”
Thrive Residential has you covered in Atlanta’s most coveted neighborhoods. Since 2006, Thrive Residential has specialized in building unique, urban, infill communities. Our locations are second to none, offering residents access to amenities including the Atlanta BeltLine, parks, local restaurants, shops, entertainment venues and public transportation. Thrive Residential is currently building throughout the area in Inman Park, Edgewood, East Atlanta Village, Decatur and Oakhurst. (855) 229-5676 livethriveresidential.com
Rocklyn Homes
High $100s-$500s
Rocklyn Homes is an award-winning, family-owned company with a unique vision and passion to build beautiful, awardwinning, single-family homes and townhomes at great prices in some of the most sought-after locations in Atlanta. Backed by years of experience, they will deliver quality, value and reliability in every home they build. Visit a Rocklyn community and discover the Rocklyn difference: “The Most Important Home We’ll Build Is Yours.” (770) 817-2185 rocklynhomes.com
Paran Homes
Mid $200s-$600s+
Boasting nearly a century of combined experience in new home construction and an award-winning team of industry veterans at the helm, Paran Homes builds homes of uncompromised quality in many of Atlanta’s most sought-after locations while delivering a stellar home buying experience. Buyers can select from an array of move-in ready homes or personalize their home with the latest options from our Design Studio. Schedule an appointment and tour one of our models today!
(770) 648-3113 paranhomes.com/know
The River Club
Mid $200s-$1M+
Entering the gates of The River Club, you’ll find a community of serene natural beauty, exquisitely crafted custom homes on rolling topography and an exceptional living opportunity. Built around one of Greg Norman’s celebrated golf courses and nestled into the woodlands along the Chattahoochee River, The River Club is a sanctuary from the outside world. This is, quite simply, the finest lifestyle experience available anywhere in Atlanta.
(678) 541-6434 riverclub.com
Need more information when making your move?
Visit knowatlanta.com to learn more about metro Atlanta, including information on healthcare, housing options, educational opportunities, city and county details and maps to help navigate your way around the area.
KNOWAtlanta.com
The Right Move
The top five reasons to consider active adult living in metro Atlanta
By Stacy Moser
Whether or not you’re close to considering retirement, you may be one of the many empty nesters who are choosing to purchase homes in active adult communities today. These specialized neighborhoods are designed for the aging in place population—adults who intend to remain as active as ever but want to downsize and join a community of compatible neighbors. In fact, According to Kiplinger Magazine, “While most pre-retirees expect to stay in the same state or region once they retire, 40 percent want to take the opportunity to try someplace completely different.” If that describes you, the following factors might lure you to one of the many active adult communities right here in metro Atlanta.
#1: A Sense of Belonging
The rise in popularity of active adult communities comes as no surprise to Michael Rosenberg, president and COO of Crawford Creek Communities, who is also chair of the Greater Atlanta Home Builders Association’s 55+ Council. He notes, “The aging population is more active now, and the idea of just retiring and going off into the sunset has gone by the wayside. People want to be with like-minded folks of a similar age, and they want to engage in lots of activities.”
Rosenberg recently assembled a panel of real estate experts to explore and identify the most important amenity an active adult property can offer. “They said it’s the clubhouse because people want a place to get together, to be social. Home buyers are often moving into smaller homes in these communities, so they want a place to have a big party; clubhouse features, like a warming kitchen and cozy fireplace, are really appealing to them.”
Kris Johnson, sales and marketing director for Windsong Properties, also recognizes the trend and says, “These communities are just the right size to get to know neighbors who are in the same
life stage. The clubhouse is designed so homeowners can enjoy regular social activities, holiday events, exercise clubs and classes, all designed by homeowners so they’re specific to the interests of the whole neighborhood.”
#2: Mother Nature’s Open Arms
As many active adults endure social isolation due to COVID-19, they seek natural beauty in their surroundings. Judie Woodall, a managing member of Strategic Real Estate Advisors, describes home buyers at Lake Arrowhead’s master planned community, stating “The pandemic has caused people to do more ‘cocooning,’ so outdoor living areas with a tranquil, peaceful environment is what everyone is so desperate for this year. Outdoor fireplaces, big windows and expanded porches offering longrange views of the golf course, mountains or lake are what they want after being quarantined on a Zoom call. They just want to get back to nature. Lake Arrowhead is just six miles from a grocery store, but once you arrive home, you never want to leave.”
Kimberly Garwood, director of marketing for Traton Homes, says that the company’s active adult home designs highlight Atlanta’s climate, which boasts on average 217 sunny days per year. Today’s active adults want to take advantage of that, especially if they have turned in their snow shovels for bottles of sunscreen thanks to a relocation. She says, “A private courtyard forms the center-
Lake Arrowhead
50 ANNIVERSARY CELEBRATION
for 50 Years Strong!
— Voted Cobb County’s Best Builder —
Since 1971, locally-owned Traton Homes had been giving Atlanta-area homebuyers “Altogether More!”…more desirable locations, more stylish home designs, more desirable features and more value! Visit our website to learn more about our beautiful new townhome, 55+ active adult and single-family detached home communities priced from the low $300’s to the $500’s.
See All of Our Communities at TratonHomes.com
piece of our living spaces, allowing you access to a quiet, peaceful, private oasis just steps from anywhere in your home.”
#3: Accessible Living
There’s a reason that ranch-style architecture gained so much popularity when it arrived on the American scene in the 1920s: the low-slung, single-story home easily accommodates family members of all ages. The style is particularly accommodating for seniors due to its lack of stairs and easy indoor/outdoor access. Additionally, it celebrates the informal aspects of living and entertaining, with large uninterrupted rooms and plenty of windows to let in natural light.
Johnson describes the emphasis on livability in active adult home designs, stating, “We focus on accessible design elements, [such as] open and spacious main level living and separate spaces for hobbies, offices or exercise rooms. Courtyard home designs, with private areas to relax and enjoy the outdoors, are perfect for pets—they’re fenced and secure. And the exterior lawn maintenance we provide makes it easy to ‘lock and leave,’ enjoying travel without worry.”
According to Jim Chapman, president of Jim Chapman Communities, “For many, the larger home where parents raised children is no longer necessary. Perhaps the yard requires too many hours of maintenance, or stairs and narrow doorways might become challenging. Maybe the grandchildren live too far away for easy visits. And, while many empty nesters are eager to enjoy shopping, dining, recreation and entertainment, many find themselves isolated in neighborhoods without easy access to those amenities. For these reasons, active adult communities have become extremely popular in the Greater Atlanta area.”
#4: Financial Well-Being
Not only is a move to an active adult community a positive lifestyle change for empty nesters, but it also is a smart financial move. “We build these homes in the suburbs and beyond because that’s where the adult children and grandchildren of many our active-adult residents live,” Chapman notes. “Many of our communities are close to small towns with exciting, walkable town centers, where taxes and the cost of living is lower, but enjoyment is higher.”
In fact, the cost of living for Georgians
Coming Soon: New 55+ Communities
The popularity of communities catering to the active adult segment of the market is evidenced by these latest arrivals in metro Atlanta.
Courtyards at Camden Builder: Traton Homes Location: West Cobb/Acworth Type: Ranch homes, 55+ restricted Amenities: Private courtyards, clubhouse, pool, firepit gathering area, bocce ball court, dog park
Courtyards at Ebenenzer Builder: Traton Homes Location: East Cobb Type: Ranch homes, 55+ restricted Amenities: Private courtyards, community pavilion Kirk Ridge Builder: Traton Homes Location: Kennesaw Type: Ranch homes, 55+ restricted Amenities: Private courtyards, community pavilion
Windmill Park at Brown’s Farm Builder: Traton Homes Location: Carrollton Type: Single-family homes, activeadult but not age-restricted Amenities: Clubhouse, pickleball, bocce ball, access to Carrollton Greenbelt Marlowe Builder: Windsong Properties Location: Woodstock Type: Ranch homes, 55+ restricted Amenities: Clubhouse with grand room and gathering kitchen, exercise studio, fireside pavilion, pond
Saddlebrook Builder: Century Communities Location: Snellville Type: Single-family homes, 55+ restricted Amenities: Pool, dog park, pickleball courts, clubhouse, walking trails, fire pit
Lake Arrowhead Builder: Majestic Lifestyle Builders, Rezide Properties Location: Waleska Type: Ranch homes, townhomes, golf villas, lakeside villas, luxury lakeside custom homes with deep-water docks; Age-targeted not restricted. Amenities: Lake, marina, lakeside park, fishing, boat rental and sailing programs, hiking trails, golf course, pro shop, clubhouse with restaurant, grill/restaurant, Great Festival Park, sport courts, pickleball, tennis, resortstyle swimming pools
Windmill Park by Traton Homes
is seven percent lower than the national average (and one percent lower for Atlantans), and Georgia’s tax law is clearly set up to benefit retirees. Social Security income isn’t taxed by the state, plus there are exemptions on taxation of retirement income (like rental income, pensions and annuities) and other tax breaks for adults beginning at age 62. And utility prices are a whopping 15 percent lower than the national average, according to financial planning website Payscale.com. All of these factors confirm Kiplinger Magazine’s assessment in 2019 that Georgia ranks as the third best state in which to retire.
#5: A Healthy Environment
It seems only natural that residents who seek out retirement in active adult communities prioritize a healthy lifestyle. Atlanta is home to an abundance of medical and bioscience-related institutions and internationally recognized hospitals and clinics offering world-class care. Healthcare expenses are particularly affordable here, with the sixth-lowest average healthcare costs in the country for a retired couple. According to Bestplaces.net, Atlanta offers 10 percent lower healthcare costs than the national average, and there are almost double the number of physicians in the area compared to the national average. With so many of these facilities located close to metro Atlanta’s 55+ communities, the ability to maintain your health is one of the area’s most important amenities. n
For more information, visit: Crawford Creek Communities: crawfordcreekcommunities.com Jim Chapman Communities: jimchapmancommunities.com Lake Arrowhead: lakearrowheadga.com Traton Homes: tratonhomes.com Windsong Properties: windsonglife.com
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How to Find Temporary Housing
By TP Corporate Lodging
When traveling or relocating to a new city, one can almost always find numerous options for short-term stays or long-term leases— but finding temporary housing can be a challenge at times. And yet, there are many situations in which people need a place for longer than a few days or weeks, but not long enough to warrant signing an unfurnished lease. As a result, they often end up jockeying between hotels and Airbnb rentals for weeks or months, often at great expense.
The truth is that there are numerous temporary housing options out there—if you know where to look for them. There are ways to find comfortable, furnished lodging for as long as you need without necessarily breaking the bank. The following guide will provide an overview of temporary housing options ideal for extended stays, explain where to look for them and provide additional tips to help you select the ideal housing choice for your needs. Reasons Why People Need Temporary Housing
Why would someone need to come into a city for several weeks or months at a time? It turns out there are plenty of situations that call for extended stays. Let’s look at a few of the most common.
Relocation
People move to a new city for many reasons, whether it’s a job transfer, to take a new job, new military orders or just for a change. Sometimes, people must relocate before finding permanent housing or before a permanent place becomes available. At other times, an incoming family may need to wait for a new house to be built. In cases like these, temporary housing provides comfortable accommodations until permanent housing becomes available. a home unlivable, or home renovations are so extensive that the family may need to vacate while construction takes place. Extended stay housing can offer shelter for months at a time while these repairs or renovations are completed.
Long-Term Hospital Visits
When someone is ill and needs long-term treatment that their typical healthcare provider can’t offer, they may need to travel to a healthcare facility that offers that type of care. If the facility offers treatment on an outpatient basis, that patient will need a comfortable place to stay for the duration of the treatment. Likewise, family members may need to stay in town to offer support and look after their loved ones.
Extended Business Trips
More and more companies these days are sending employees and team members to various locations for long-term assignments. You may be sent out of town, for
example, to lend your expertise on a complicated project, to facilitate opening a new branch location or to scope out new clients. An increasing number of business trips nowadays call for stays of several weeks or even several months.
Film and TV Shoots
Location filming has become quite prevalent in recent years, especially in growing film and TV hotspots like Atlanta. These shoots often last for weeks and months on end, and the cast and crew need comfortable places to stay in the meantime. Temporary housing can often rescue a filming budget from tens of thousands of dollars in hotel bills.
Options for Short-Term/Temporary Housing
Now that we’ve explored some of the reasons why people seek out temporary housing, let’s take a closer look at what housing options are typically available in a city and how and where to look for them.
Extended Stay Hotels
For expected stays of several weeks or more, one of the first places people tend to look is extended stay hotels in the area. You can usually find these hotels in almost any commercial cluster in a city, especially near major highways, thoroughfares and airports. Extended stay hotels usually offer suite-like accommodations at discounted weekly or even monthly rates, and some even configure their suites like small apartment units to make guests more comfortable. While extended stay hotels provide a more affordable solution than conventional hotels, the costs can still add up over time. In addition, even extended stay suites can feel cramped and claustrophobic after several weeks.
Vacation Rentals (e.g., Airbnb, Vrbo)
Another option to look at for temporary housing is to check out vacation rentals, which can be found in abundance on sites like Airbnb and Vrbo. These rentals can be found in almost any city or town these days, but you’ll find the greatest selection in tourist destinations. Some of these rentals will offer discounted rates for extended stays, and they range in size from a single room to a fully furnished house. The downside to this approach is that most of these rentals are managed by individual owners. While platforms like Airbnb do try to monitor for consistency in honesty and quality, the system is not foolproof, and people do have bad experiences from time to time. Additionally, the discounts are generally not deep enough to keep costs from accumulating over time.
Sublets
Another temporary housing option, one that works well for some people, is the option of sublets. Quite often, people may need to leave their home for months or years at a time, so they will sublet their home as temporary housing, usually at a rate comparable to what they’re actually paying in rent. Finding a good sublet can be challenging because they aren’t broadly advertised. Most people find sublets through online classifieds like Craigslist, word of mouth or perhaps via social media. The other challenge with subletting is that it’s a largely unregulated market, so it’s easier to get conned.
Corporate Housing/Short-Term Rentals
The fourth option for temporary housing is to seek corporate lodging in the area, typically through a third-party corporate housing agency like TP Corporate Lodging. Corporate housing companies specialize in setting up and renting fully furnished apartment housing for several weeks or months at a time. The rates are significantly more affordable than extended stay hotels or vacation rentals. This can be an excellent solution for corporate travelers and people needing extended stay lodging for any of the reasons mentioned above. If you are looking for affordable, comfortable temporary housing in Atlanta, TP Corporate Lodging offers a selection of fully furnished apartments with complete amenities in some of the most convenient neighborhoods in town. n
For more information, visit tpcorporatelodging.com
Why a hotel room when you can have an apartment home?
With a minimum 14-day stay, TP Corporate Lodging residents enjoy all the amenities of a full-size apartment home that costs less than a hotel room.
Whether a small or large company, Business Professional or Family; we can accommodate your requests. •Full size kitchen & appliances •Washer & dryer •Desk/work area •Separate Rooms with 2nd TV You don’t have to share with anyone, so it feels a little more like home. 800-428-9997 tpcorporatelodging.com
Home Buyer Education
How the Georgia Dream Homeownership Program prepares home buyers for the process
By the Georgia Department of Community Affairs
Are you ready to buy a house? Before you begin thinking about paint colors and furniture, it is important to educate yourself on the process. From down payments to warranties to credit scores and more, the home buying process is not a simple as some might assume. Do you know where to begin?
Jamilla Byrd is a Grants Coordinator at the Georgia Department of Community Affairs (DCA), a state agency whose mission is to help build strong, vibrant communities. Providing avenues to safe and affordable housing for Georgia residents is an important part of her position. “It is important for clients to be empowered to make sound decisions for home buying,” she says. “Once we educate, we put power back into the client.” With that in mind, DCA has a network of 19 HUD-approved housing counseling agencies and funds each of these “sub-grantees” to provide access to resources for future homeowners.
The Georgia Dream Homeownership program is one particular DCA program dedicated to empowerment and education. Home buyer education is required for
all approved Georgia Dream program applicants. Various options exist, such as one-on-one counseling, workshops and online classes, which tend to be free or available at reduced costs. For example, eHome America is an online course for Georgia Dream applicants who choose this option. Others who select counseling have access to an individual who can help guide them through the process and answer questions about the essentials, such as interest rates, credit scores and documents. Additionally, studies show that people who complete home buyer education are less likely to default on their mortgages and gain special first-time home buyer programs and mortgages.
“HUD has a required uniform system of housing counseling,” Byrd explains. “Anyone receiving down payment assistance is required to take some form of education.” She adds that gaining knowledge about purchasing a home illustrates the importance of the three major Ps:
Preparation
This involves setting logical, realistic goals and developing credit awareness. Byrd says, “Once you understand the components of credit, you can understand it on a higher level.” By navigating the process, individuals are able to make well-educated decisions and build wealth in the process.
Purchasing
Byrd notes that she and her team work to help buyers know their mortgage options, fair lending laws and the tenets of fair housing. She says, “It’s important to understanding this as a consumer.”
Protection
Not only is it important for people to learn how to purchase a home, but it also is imperative that they receive information on how to protect it. Avoiding foreclosure is essential for this, Byrd says.
Tracey Turman, DCA’s Housing Outreach Coordinator, reveals that owning a home is a sound investment for individuals and families moving to Georgia. Therefore, the education process incorporated into the Georgia Dream program provides both shortterm and long-term benefits for those who are approved and move forward in the process. “The education portion is essential to the home buying process,” she emphasizes. “Buying a home is one of the most important decisions a person can make. Therefore, our team works diligently to provide a comprehensive experience that will result in an engaging, fulfilling and worthwhile process for each approved applicant.”
Tracey Turman, DCA’s Housing Outreach Coordinator
Getting Started
To begin the process, those interested in the Georgia Dream program must contact an approved participating lender, which can be found online at gadream.com. DCA works with these lenders, as well as the HUD-approved counseling agencies, to guide the client from the beginning of the process to the closing table. The standard loan for eligible home buyers is $5,000. The Protectors, Educators and Nurses (PEN) program provides $7,500 for those who work in public protection education, healthcare or the military. According to Turman, “The company you work for, not the actual position, is the determining factor for the PEN program.”
A minimum credit score of 640 is required, and income and purchase price limits must be met. Debt-to-income ratios also are taken into consideration. Once the home buyer education requirements are met, there is a seven- to 10-day compliance review. In addition to working with a real estate agent, applicants can expect to close within 45 to 60 days from start to finish.
As Byrd concludes, “The Georgia Dream program has existed for decades. Homeownership is fundamental to quality of life. Therefore, we encourage those with a goal of having their own property to contact our team in order to get the keys to success.” n
For more information, visit dca.ga.gov or gadream.com.
