FIRST-TIME HOMEBUYER
After renting a variety of houses, middle school orchestra teachers Mark and Nicole Burroughs knew the right notes to hit in their home search. Getting in rhythm when it came to the financing process was a little more difficult. Nicole, 32, chatted about their purchase in Acworth’s Lochshire neighborhood.
Q: Where did you move from?
A: We’re both originally from Chattanooga. We had gone to school in Indiana. Then I worked in Pittsburgh for the Pittsburgh Symphony. We had been away from home for 10 years and we decided it was time to move back down here. We got jobs in Cobb County, which led to us renting a home. [Mark works at Barber Middle School; Nicole works at Awtrey Middle School.] We were finishing up our year in the home, and we said, we think it’s time to buy a house. We had lived in houses built in the 1890s and 1930. We rented a newer house. We thought we knew exactly what we were looking for.
Q: How did you find this house?
A: I started looking on Trulia.com just for fun and I came across the picture. I said, oh my gosh, it’s perfect, and I’m in love with the Craftsman style. We were driving to have dinner with my parents. We drove by it, and it just happened that the Traton Homes representative was here.
Q: What did you think when you walked in?
A: It had a basement. It had a fireplace. The kitchen was updated and gorgeous. The master bathroom is gorgeous with the tile and the granite countertops. It had a big, sprawling backyard. In Pittsburgh we had a postage stamp, so this was just amazing. Of course, the closet was to die for. Again, in Pittsburgh we had a shoebox. They say you’re supposed to look at lots of houses and shop around, but we had lived in so many different houses. We knew what we wanted, and as soon as we saw it, we were like, we want it.
Q: Why did the Craftsman style appeal to you?
A: To me, it just says the South. Just the symmetry of it (such as the pillars on the front), it really appeals to my eye. Of course, our house, the coloring is dark brown with navy blue shutters. In my mind, I’ve never seen a house that looks exactly like this one.
Q: How did it fit into your price range?
A: We knew we would be between $200,000 and $300,000. The appearance of it made us think it was going to be more like $375,000 to $400,000. It was listed at $275,000. Really, you get a lot more home for your money down here than you do up north. They covered all of our closing costs, which was wonderful. You sure can get an excellent deal if you buy a house that’s already been built.
Q: What was challenging about getting financing?
A: The difficult part for us, which I think is the reality for people who are in their late 20s and early 30s, is we have a lot of student loan debt. It turns into a bit of a nightmare in terms of financing when they’re trying to figure out exactly how many different loans existed. The evening before we were supposed to close, there was an issue with the underwriter with the student loans. We had no idea how much they were going to pick apart the loans. So they pushed back our closing date [by a week]. But in the end, it worked out.
Q: What’s a tip for buyers with student loans?
A: You really have to have all of your ducks in a row or else you’re going to get a big surprise. The banks are going to have to start thinking about how they deal with the young people who are educated.
At a Glance
Mark and Nicole Burroughs’ new home in Acworth’s Lochshire neighborhood has four bedrooms, three and a half baths, an unfinished basement and about 2,700 square feet. They purchased it in June. Homes in Lochshire range from the $220,000s to the $280,000s.
