Build my home in ITP Atlanta

[Mike H.]

Hello BP, 

Hope all is well with y'all.  Moving with wife kid and dog to Atlanta from Brooklyn in a couple weeks.  We have a short term rental for a few months in the SW ITP.  We are looking to buy a house in east ITP.  Top of the budget would be 800k ish.  Want a 4/3 at least with a driveway.  In a decent elementary school district (don't need the school for 2ish years).  I'm not super excited about buying in a sellers market :).  It is what it is.  I believe the economy is in shock and am hesitant to buy at the top of our budget when it's not critical that we get that space/location yet.  Low interest rates and low inventory i believe is creating artificially high prices.  However that is not the point of this post.  I'm thinking of getting something 3-400k ish in not a great ITP school district that i can transition to a rental or sell when i get a better feeling for where the market is headed.  

On to my question.  We are also considering building on a tear down lot or lot.  Wondering what peoples thoughts on that are?  I have worked in construction my whole life and built homes in TX at the beginning of my career.  I was a super for a few years before i went in to ops management.   I built about 75 homes ranging from 1500 sqft to 5000 sqft.   Can I hire the architect/expeditor and hire the subs?  Thoughts?  Is that even legal IE do i have to have a builders license in Atlanta?  Thanks for your help!

[Eamonn McElroy]

Mike -- have you thought about renting a home in East Atlanta for a year or two instead of buying a residence?

It might make a lot of sense in the current economic environment, maybe even more sense if you see yourself moving in ~2 years based on school district.

I always advise anyone who will listen...clients, family, friends...to rent the first year or two in a new city.  Take time to get to know all of the neighborhoods and find one that resonates with you.  This is especially true with Atlanta.  Each neighborhood and OTP suburb has it's own vibe, restaurants, etc.

Best of luck.