Financial planner Patrick Lawson works with clients seeking advice about mortgages and budgets when buying a home. As Patrick and wife McKenzie, both 28, approached their two-year anniversary in spring 2015, they put his tips into practice and took advantage of the low interest rates.
Working with Justin A. Moates of Atlanta Fine Homes Sotheby’s International Realty, the couple looked for homes under $450,000. Patrick, a wealth advisor at TrueWealth, and McKenzie, a high school guidance counselor, chatted about their 1950s ranch in Atlanta.
Q: How did you go through making this big financial commitment?
McKenzie: Patrick definitely set the stage for this and helped us to budget and make wise decisions leading up to it.
Patrick: We were fortunate to not have student debt. Once we decided this is something we want to pursue, it was understanding how much do we make, how much can we afford, and how much of a payment can be paid toward the house and still sustain our lifestyle.
Q: What did you want in a home?
Patrick: I've always wanted a nice yard. I cut a ton of lawns in high school and that was something I loved doing. We wanted a space to be able to entertain. We have an awesome back patio. They screened in a back porch and put a TV.
McKenzie: I didn't want there to be any room or space in the house that would go unused. I wanted really intentional space so we could make it cozy and inviting for our friends. This house is a good balance. It's not cramped, but I feel like we will live in every part of it.
Q: How long was the home you bought on the market?
Patrick: The house was on the market for not even 24 hours. We slept on it. Our offer was accepted by 5 o'clock (the next day). It was a multiple offer situation.
Q: Did anything come up during the inspection?
Patrick: We're very lucky that there weren't any big structural issues. There was a bit of a gap between the roof and the side of the house and maybe an electrical issue. We got people to estimate how much it would cost to get it fixed. The previous owners were great at negotiating with us.
McKenzie: We fixed them pretty soon after we moved in. There were the opportunity for critters.
Q: What’s one of the first things you did after moving in?
McKenzie: I love to accessorize. We have a built-in bookshelf in the living room that was decorated even before all our furniture was in. For my birthday, my mom bought us a Lucite console table (from CB2).
Q: What’s a tip for beating offers on a home?
Patrick: Justin gave us a good piece of advice. He said, "You need to give it your best offer as your first offer. If you really love that house, that's what you need to do."
At a Glance
Patrick and McKenzie Lawson’s home, built in 1950, has two bedrooms, two baths and about 1,242 square feet. They purchased it in March. Homes in the Wildwood neighborhood are listed from the low $400,000s to high $800,000s.
