Dreaming of buying your first home in McDonough but not sure where to start? You are not alone. The process can feel big when you juggle budgets, commutes, and questions about inspections, HOAs, and closing costs. This guide walks you through the local steps, timelines, and choices that matter in Henry County so you can move with confidence. Let’s dive in.
Why McDonough works for first-timers
You get small-town charm with access to the Atlanta metro. Major routes like I-75, U.S. 23/SR 20, and SR 155 connect you to jobs and amenities, though commute times can swing with traffic. You will find a mix of historic streets near the square, suburban subdivisions, and new-build communities in and around Henry County. Many buyers compare new construction with resale options and factor in HOAs, lot sizes, and proximity to daily needs.
Your step-by-step roadmap
Get pre-approved first
Pre-approval shows sellers you are serious and sets a clear budget. Most lenders can issue a letter within 1 to 7 days once you submit documents. In McDonough, offers are expected to include a current pre-approval. A local lender who understands Henry County taxes and flood zones can speed underwriting and problem-solving.
Define a realistic budget
Look beyond the mortgage to include property taxes, homeowners insurance, HOA dues, and routine maintenance. If a property is in a FEMA flood zone, your lender will require flood insurance, which affects the monthly number. For new builds, expect tax reassessments after completion, which can change your annual costs. Ask your lender to estimate total monthly payment including escrows.
Tour homes with a strategy
Inventory often includes single-family homes, townhomes, and new construction. Compare new-build timelines, lot premiums, and upgrade costs against resale homes that may allow faster move-in. Review HOA covenants and budgets during due diligence so you understand rules, amenities, and any pending assessments. Keep commute patterns in mind, especially along I-75 during peak hours.
Write a strong offer
Your offer includes price, proposed closing date, contingencies, and any requests for seller concessions. Earnest money is typically submitted within a few days of contract acceptance and is often around 1 to 2 percent of the purchase price depending on competition and price point. It is held in escrow based on contract terms. Include your pre-approval and set realistic timelines for inspections and appraisal.
Complete inspections fast
Schedule a general home inspection right after you go under contract. Many buyers also order termite/WDI checks, and where relevant, septic, sewer scope, radon, or specialist evaluations for older systems. The inspection period is commonly 7 to 10 days, allowing time to review findings and request repairs or credits. Sellers may accept, counter, or decline your requests, so prioritize must-haves.
Appraisal and underwriting
Your lender orders the appraisal to confirm value, which often returns within 7 to 14 days once scheduled. Many contracts include an appraisal contingency to protect you if value comes in low. Underwriting continues in parallel and can take days to several weeks based on documentation and loan type. Respond to lender requests quickly to keep your file moving.
Prepare for closing
A title search is ordered and title insurance is arranged; buyers typically pay for the lender’s policy and can choose an owner’s policy. For resales, plan on a closing timeline of about 30 to 45 days from contract to keys. New construction or homes with special approvals can run 60 to 90 days or more. Closing costs include lender fees, title charges, and prepaid taxes and insurance, which often total a few percent of the purchase price but vary by scenario.
New construction vs resale in McDonough
New construction: pros and cons
- Pros: Builder warranties, modern layouts, energy efficiency, and the ability to pick finishes when early in the build.
- Cons: Lot premiums and upgrades add up, timelines can shift, and reassessment may raise taxes after completion. HOAs may have stricter rules in some communities.
Resale: pros and cons
- Pros: Quicker move-in potential, mature landscaping, and more room to negotiate seller concessions.
- Cons: Older systems may need repair and maintenance sooner.
HOAs, taxes, and flood zones
Many subdivisions in McDonough and greater Henry County have HOAs with monthly or quarterly dues. Review covenants, budgets, and any planned assessments during due diligence so you know the rules and costs. Property taxes are set by county millage rates and assessed value; expect reassessment after purchase or completion of new construction. Some areas fall within FEMA flood zones, so order a flood determination early since lenders require insurance for high-risk zones.
First-time loan and aid options
Common loan types include Conventional, FHA, VA for eligible buyers, and USDA Rural Development in map-eligible areas. Loan choice can affect appraisal requirements, inspections, and timelines. Down payment assistance programs like Georgia Dream and some local resources may help eligible buyers with costs. Program details change, so verify current criteria with the administering agency and your lender.
Negotiation tips for Henry County
Market conditions shift, so tailor your approach. In competitive moments, consider stronger earnest money, clean terms, or shorter inspection windows while protecting key contingencies. In slower conditions, you may negotiate repairs or seller credits toward closing costs. Be cautious about waiving inspection or appraisal protections since these guard you from hidden issues and valuation gaps.
Quick buyer checklist
- Get pre-approved and collect W-2s, pay stubs, and bank statements.
- Build a budget with mortgage, taxes, insurance, HOA, and maintenance.
- Choose a local agent with Henry County expertise.
- Tour homes and review comparable sales with your agent.
- Submit offers with pre-approval and earnest money instructions.
- Schedule inspections immediately after going under contract.
- Track appraisal and respond to lender conditions fast.
- Review title reports, HOA docs, and closing statements.
- Bring certified funds and ID to closing; set up utilities.
Timeline snapshot
- Pre-approval: about 1 to 7 days once documents are in.
- Home search: a few weeks to a few months depending on inventory and timing.
- Inspection period: often 7 to 10 days after contract acceptance.
- Appraisal: about 7 to 14 days after ordering.
- Closing: typically 30 to 45 days for resales; 60 to 90+ for new builds.
Local insight you can use
Buying your first home is easier when you lean on local guidance. In McDonough, little details like HOA covenants, flood determinations, and new construction timelines can shape your costs and schedule. If you want introductions to local lenders, help comparing new-build communities to resales, or a clear action plan from offer to keys, we are ready to help.
Ready to see current options and map your next steps? Reach out to the team at Bold Move Georgia Real Estate Group to start your search with local expertise and a steady guide by your side.
FAQs
How much earnest money is typical in McDonough?
- Many suburban Henry County offers include earnest deposits around 1 to 2 percent of the purchase price, adjusted for price point and market competition.
How long does closing take in Henry County?
- A typical resale closing runs about 30 to 45 days from contract, while new construction or special approvals may take 60 to 90 days or more.
What inspections should a Georgia first-time buyer get?
- Most buyers order a general home inspection plus termite/WDI; septic, sewer scope, radon, or specialist checks are common when property age or systems suggest it.
Are there down payment assistance options in Georgia?
- Programs like Georgia Dream and some local resources can help eligible buyers with down payments or closing costs; verify current rules with the agency and your lender.
Should I use a local lender for a McDonough purchase?
- A local lender often understands Henry County taxes, flood zones, and timelines, which can speed appraisal, underwriting, and problem resolution.
How do HOA dues and property taxes affect my payment?
- Lenders typically escrow taxes and insurance, and you should budget HOA dues separately; together these can materially change your monthly cost and affordability.
