At a Glance
Kourtney Gary’s home, built in 1991 in Conyers’ Brentwood subdivision, has four bedrooms, two-and-a-half baths and about 3,651 square feet. She purchased it in August, assisted by Travis Williams with Better Homes and Gardens Real Estate Metro Brokers. Homes in the Rockdale County neighborhood are priced in the low to mid $100,000s.
Kourtney Gary made sacrifices to save for her first home and desired to make the most out of her budget. During her journey to buy a home under $125,000, she experienced the frustration of not bidding high enough to buy foreclosures, having to get approved twice for a mortgage and negotiating over repairs.
Gary, 30, who works for the Internal Revenue Service, chatted about the home she purchased in Conyers.
Q: Where were you moving from?
A: I moved out of my apartment in Lithonia back home with my mom to save up money for the down payment. I knew that I didn't want to pay too much more over what I was paying in rent. I kind of wanted to stay in the $900 (a month) range.
Q: What were you seeking for your first home?
A: I wanted to be in an established neighborhood with a homeowners association. I wanted to be where I know my neighbors respect the property. Also, I wanted to possibly work from home in the future, so I wanted to be in a community where I felt safe. I wanted to be somewhere where my neighbors would watch out for me and I would do the same for them.
Q: What areas of town did you focus on?
A: I pretty much searched in the Lithonia/Browns Mill area (in DeKalb County), and Gwinnett and Rockdale counties.
Q: What type of home features were you interested in?
A: I wanted an older home, a brick front, a basement and four bedrooms.
Q: What were you finding on the market?
A: I feel like it's turning back into a seller's market. I had to bid on a few properties, and I lost those bids.
Q: What did you learn as you went through the process of bidding for a home?
A: When they say highest and best, I need to give them my highest and best price. My first heartbreak, something told me to bid a little bit higher, but I can't even explain it. I thought I was being smart by not bidding too much over the sales price. Of course, somebody outbid me. I knew I could have afforded more.
Q: But what do you love about the home you bought?
A: Oh my gosh. The first thing I love was the neighborhood — the upkeep, and the neighbors are very nice. That's the first thing I noticed when I started looking. I fell in love with the sunroom and the finished basement.
Q: Did you put in an offer right away?
A: Yes. It was a foreclosed home, so I was working with the bank. (While her offer was in) they had dropped the price. Then it was crazy because the price I offered was higher than what they dropped it to.
Q: Did anything unusual happen when you tried to get a loan?
A: I was pre-approved with Brand Mortgage. When I saw the listing for the house, (the bank) requested that I go through Bank of America to get pre-approved, but I didn't have to use that bank. I did get approved. I stayed with Brand Mortgage.
Q: What advice would you give other buyers?
A: Make sure you have enough money saved for surprises. With the repairs, it was a retaining wall in the back, a hole in the ceiling, a shower in the master, and broken glass in the door in the basement. At first the bank said, "Yeah, we will do the repairs. But we will add that price on the back end, so it would increase your sales price." I was OK with that. But almost at closing, they were like, "Oh, that is a mistake. We don't do repairs." Luckily, thank God, I had saved enough money where my mortgage company allowed me to place my money in escrow. I was able to pay for the repairs that way (she spent $2,525 on the repairs).
Q: What does it feel like to have your own place?
A: It was a journey, but I'm happy. I have my own place and I worked for it. I saved for it. I sacrificed for it.
About the Author
