First-time Homebuyer: Space for roommate makes ‘dream' of buying a reality

By Lori Johnston

For the AJC

Colin Steuterman rented an apartment in Alpharetta after graduating from Kennesaw State University in 2009, but he wanted to buy his own place sooner rather than later. He searched for several months for homes close to his IT job, off Windward Parkway in Alpharetta. Steuterman, 23, chatted about his home in Cumming, about 10 minutes from work.

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Christopher Oquendo, AJC Colin Steuterman decided to buy a home rather than continue renting when he saw an article in Forbes comparing rental versus ownership costs.

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Christopher Oquendo, AJC Steuterman's home, built in 1998 in Forsyth County's Springmonte subdivision, has four bedrooms, 2 1/2 baths and 2,376 square feet.

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Q: What prompted you to buy a home now?

A: I was reading an article in Forbes comparing rates of renting versus home ownership. The rates in Atlanta were the best comparison of rent versus mortgage payment. That really got me going. It really convinced me to start the research and look into buying a home. I always wanted a home; it was always a dream of mine. I did the homework and research and found out that I could make this happen for around the same price [as his rent].

Q: What was your price range?

A: $200,000 was my limit [he purchased the home for $195,000].

Q: What did you want in a home?

A: I wanted enough rooms for it to be comfortable for me and a roommate. I definitely wanted a garage and a kitchen. I wanted an office.

Q: How did the Cumming home stand out?

A: The home I purchased was well above what I was expecting. When you walk in the house, it’s really wide open and really well done on the inside. They redid all the carpet and hardwood floors and painted. There wasn’t any problems inside. The kitchen is big. It’s really wide open with the kitchen. It doesn’t feel like an apartment where you turn around and you’re in one room and you turn around and you’re in another room. It’s spread out.

Q: Have you had to spend a lot on furniture and other items?

A: No. I took what we had from the apartment that I was living in. Then my roommate’s parents were moving. They already had a second home that was full of stuff, so they had to get rid of all of their home furniture. We took most of the stuff.

Q: What’s a tip you could give to other first-time buyers?

A: Surround yourself with experts. My lender and my Realtor were excellent. Without them, I wouldn’t have made it this far. I knew it was the correct choice. As far as financially, it was the right time. But as far as negotiating and figuring out all of the ins and outs of things to do, [Anthony N. Acosta Jr. with Harry Norman, Realtors] really walked me through it. He really was a big-time adviser, kind of like a big brother to me.

At a glance

Colin Steuterman’s home, built in 1998 in Forsyth County’s Springmonte subdivision, has four bedrooms, two and a half baths and about 2,376 square feet. He purchased the home in June. Homes in the neighborhood are listed from $175,000-$299,900.