Buying a Home in Nashville
WE BOUGHT A HOUSE!
Nashville housing market as a buyer = not a walk in Centennial Park.
It truly is a seller’s market and people are paying an astronomical amount for price per square foot.
But, after months of looking and putting in offers, we have a place that we’ll call home.
We both wanted someone with charm that wasn’t a complete reno but had elements that we’ll be able to redo to make it our own.
Our search was narrowed to two up-and-coming Nashville neighborhoods…which, was the same for literally every other person in our price range and age…
Which, meant that we had to stand our ground on what we were willing to pay and what we wanted to compromise on.
And, we did because we don’t have a fireplace… guess we will just have to build one in our massive backyard.
But, I am super happy to announce that we found a gem!
We utilized Elyse Wiser with Scout Realty to help us with our search. She is a dear friend, and she’s also native to the area, so she’s familiar with the context and history of what we had our eyes set on. I am not kidding when I saw we probably toured 25+ houses in person and tried to put offers that people laughed at because we might have offended with them with how much less we thought their house was worth.
*Note to self, do not get emotionally attached to a home that is not yours.
The negotiating was excruciating, but all said and done, I don’t have buyers remorse. Zero. Zilch. Nada.
Every time we go over, I fall in love with it more. Plus, Manny approves of his yard.
Here’s my quick tips for buying a house in Nashville:
Act fast. Even if people back home think you’re crazy - you have to know what you want and your walk away point. Our house was on the market for probably one week.
Stand your grounds. The reason the housing market is so expense is because people are not negotiating. They’re overpaying. You have to stand your grounds on what you think the house is worth and what you’re willing to pay. Our house under appreciated, so we had to go back to the drawing board with negotiations.
Check out crime reports and drive by the neighborhood multiple times during the day. We visited each house and plot of land I can’t tell you how many times to see what type of activity, if any, was going on.
Drive it during your commute. We know Nashville traffic is horrendous. This was something I was not willing to compromise on. I knew I didn’t want to spend two hours in the car on the way home from work. Test out the commute on the way home from work if that’s something you’re not going to sacrifice.
Know how much you can afford. Brandon made an amortization table of our costs every month and we budgeted how much we’ll split and spend on every single thing you could think of (and how much we plan to save) to make sure we knew how much house we could afford.
You’ve gotta (calculatedly) risk it to get the biscuit. I am all about taking risks where it makes sense. You need to make calculated risks. Don’t just buy something just to buy something because it’s a hot market right now. I remember I wanted to buy a one-bedroom condo in Germantown a few months ago - but who knows what the ROI would be a few years from now. With that being said, I know people that bought in the Gulch years ago that have made six-figure profits off of their condos.
Best of luck (because I can empathize with you on how stressful the process is).
Be on the lookout for some before and after photos!