If there’s one phrase to describe this city and its’ real estate market, it’d be “freaky fast”. Whether a buyer is moving here for business or the music scene, they will most likely encounter tough competition in the pursuit of their dream music-city-home.
While buying a house in Nashville can be difficult, it’s not impossible. With these helpful tips, you may be able to find yourself getting the keys to your new crib sooner rather than later.
- Act fast!
If you don’t move fast, you could lose your dream home to some fierce competition. If you see a place you like, reach out to the seller immediately and see the home the same day if you can. It may take a few months and multiple offers to find the perfect place, but your perseverance will pay off.
- Discover the best neighborhoods
Three areas you should keep an eye on: East Nashville, 12South, and Germantown. If you aren’t familiar with these neighborhoods, get to know them! They continue to top the “Best of Nashville” lists every year. Why? East Nashvillians love the area for its’ local, vibey feel. For example, if you want to check out a record shop or shop vintage clothes, then East Nashville’s got ’em (our favorites are The Groove and Local Honey)! 12South is a great place for strolling, eating and shopping. Germantown is known for its’ historic architecture and unique shopping. It’s also close to the main farmers market across from the Bicentenial Park.
- Narrow down your must-haves
We all know the saying… Beggars can’t be choosers. If you want a place in the heart of the city, know you may have to compromise on your must-haves. Want a 4-bedroom home with a spacious backyard? You’re probably not going to find that unless you venture 15 minutes outside of Nashville proper. It’s always best to learn about each individual neighborhood, and then set some parameters.
- Know (and stay) within your budget
Being pre-approved for a mortgage doesn’t mean you should buy at the top of your budget. Doing so could mean less wiggle room each month which could lead to bigger problems down the road. For instance, if you spend your maximum budget, you may find yourself in a bind when it comes to maintenance and other unexpected expenses. Sometimes buying less house or getting a fixer-upper is the way to go.
- Don’t buy until you’re ready
This is the biggest point to keep in mind. Do what works best for you. If that means renting vs. buying, do it. Don’t buy until you’re absolutely ready to take on the responsibilities of owning a home. It’s a huge undertaking, but a very rewarding one. Consider renting a home in your dream neighborhood for a year to “test the waters”, then find out if that’s where you’d like to settle long term.
- Be businesslike, not emotional
It’s hard not to get your heart attached to a home if you immediately fall in love with it, but try not to fall too fast. In Nashville especially, homes get snatched up left and right. If you don’t get the house you bid on, just know that it wasn’t the house for you and yours is still out there somewhere!
Are you wanting to buy a home in Music City – Nashville, TN? Contact us, your local realtors, at 615.807.0579 to set up an appointment to find your dream home today! See here for all the real estate listings in the Nashville area.