After graduating from Georgia State University in December 2011, Lindsey Williams knew she wanted to live in downtown Atlanta. Renting a condo in City Heights was her first step to eventually buying in the same complex in Atlanta’s Old Fourth Ward neighborhood.
Williams, 25, who works in human resources for RaceTrac Petroleum, chatted about her purchase and how the Neighborhood LIFT program provided financial assistance and education on buying a home.
Q: Did you plan to buy a home so soon after graduating from college?
A: Honestly, home ownership was the furthest thing from my mind. I had student loans. I think that’s the biggest barrier for any young person looking to purchase a home. I didn’t have the money for the upfront costs - a down payment and closing costs.
Q: So how was it possible to buy?
A: We saw on the news that Neighborhood LIFT was having a first-time homebuyer conference in Atlanta. My dad (Peter Williams) said, “You need this. This is your way in, this is how this is going to happen.” I went to the conference. I sat down with a Wells Fargo loan officer there. I had to bring paperwork, background checks, past bills. They approved me for the loan there.
Q: What were some of the loan’s requirements?
A: You have to take an all-day homebuyer course. I’m so happy that they had that as requirement. I walked away super confident knowing about the whole homebuying process. One of the major requirements is that you do have to stay in your home for five years. Every year you stay in your home, a certain percentage of your loan is taken away. I won’t owe any of that back.
Q: Why did you decide to buy where you were renting?
A: I loved the community and loved the building. The views here are amazing. I have a full city view of Atlanta.
Q: You purchased a different unit than the one you were renting, right?
A: I was renting a small studio apartment, which was great for college life obviously. When I graduated I was looking for something more spacious. My place was a short sale. It’s a very tedious process. Of course, the LIFT program was awesome. When it was their turn to step in, they had my loan ready.
Q: What’s your favorite spot in the condo?
A: My balcony is probably my favorite place ever. People are like, “Oh my gosh, how do you have this view?” It’s literally the complete skyline of Atlanta. But you can also see all of Buckhead from afar. When you look at people who have the city views, you think of the fancier downtown apartments. Honestly I never would have thought this was here.
Q: What else does the location offer, besides the view?
A: I love the Old Fourth Ward area, and Virginia-Highland is right up the street. I have direct access to Freedom Parkway. I can hop right on the highway (to commute to Cobb County).
Q: What changes have you made to the unit?
A: In my bedroom, I took out the carpet and put in hardwood floors. I did a little bit of painting.
At a Glance
Lindsey Williams’ condo, built in 1980 in Atlanta’s City Heights complex, has one bedroom, one bath and about 800 square feet. She purchased it in 2012, assisted by Jeff Sowell with Keller Williams Realty Atlanta Perimeter and Brent Edwards with Wells Fargo Home Mortgage. Condos in City Heights are listed from $57,000-$99,000.
Neighborhood LIFT is a partnership between NeighborWorks America, whose local partners include Invest Atlanta (the city’s economic development authority), Resources for Residents and Communities, and Wells Fargo. The program offers up to $15,000 for down payment and/or closing costs or for renovation, for an existing or new home in the city of Atlanta. The program has created more than 150 new homeowners in the city, and $3 million is still available. A $1,000 program fee is required.
