I'm currently putting together my acquisition strategy for properties in Georgia and being new to Georgia and the South in general, I'm hoping to get some insight into what's most popular here (and why), in an effort to narrow my wheelhouse down to a combination of what my preferences are and more importantly, what Georgia buyer preferences are in a home. So, without further ado:
1. Roof materials: I know in Phoenix, buyers like tile roofing best because they last 30 - 40 years in the dry desert climate and investors don't typically have to worry about factoring in repair costs for a home with tile roofing (if it's relatively new). What's the preference in Georgia?
2. What are popular frame construction types in the area? I know wood frames are energy efficient, but let me know if there are other norms here.
3. Exterior siding: what's most popular here in GA and why?
4. How old are homes in the most desirable neighborhoods of GA? I'm looking for a target age range for the homes I acquire. I have a full-service construction company whose partners sit on my board, so we're ready and able to do major renovations at below market costs and therefore I'm not too worried about age, per se - but would ultimately like to capitalize on areas that are older but that are experiencing growth and gentrification. If anyone can share how old those homes are / what neighborhoods they're in, that'd be awesome.
5. Lastly, in terms of demographics, I've seen a lot of threads touching on demographics that are "ripe for growth" - can anyone elaborate further from a statistics standpoint on what types of trends to look for? Perhaps the answer to that question really applies to all states, not just Georgia, but please let me know.
Sidenote: this website is really fantastic - it's a great way for me to gain multiple perspectives outside of my remodeling / renovation teams for some well-rounded knowledge. Thanks, all!
Hi @Kai R.
Check out the post Atlanta Neighborhood Classification post as it talks about different neighborhoods here in Atlanta. Does not cover broader GA.
To Answer your questions:
1. Roof: Asphalt Shingles common last 20-30 years here in GA. Metal Roofs - for commercial apartment sub-divisions as they last 50 years but also expensive
2. Wood Frames
3. Vinyl Siding - I see a lot of these but there may be more
In regards to Demographic Trends: Also Check Out this post
- Population Growth and Migration Patterns - Rust Belt to Sunbelt. Forecast
- Baby Boomers are coming to be close to their children and grandchildren
- Green Initiative - People moving towards rails, trails, green space and transit. More focus on cycling, walking as opposed to driving (Atlanta Beltline is an example of this initiative)
- Proximity to Universities (GA Tech, GA State etc). 4 Million Students Per Year Graduate From College For Next 10 Years (U.S. Census, JCHS Household Growth Projections, Goldman Sachs)
- Job Growth - Trending positive - GA more businesses consider expanding moving here (Porsche, Mercedes Benz, Statefarm, Baxter, FirstData, NCR etc.)
- Lower Vacancy
Hope this helps!
Siding - the lower end homes use vinyl siding, while the upper end homes use HardiPlank (cement) siding. Many homes were built with that LP/Masonite siding that seems to hold up if you keep it painted and sealed every couple of years. If not, it will deteriorate rather quickly and thus all the lawsuits. There is also a style of home called contemporary that uses cedar siding.
What your are asking for 4 and 5 is very subjective and localized.
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