WKRN ran a blurb this week about rising rental rates in Nashville — prices here in Music City rose 9 percent, the story said, as compared to a nationwide rise of under 3 percent.
This is no surprise to you, surely, if you’re renting in Nashville. It’s hard, and getting harder, to find approachable rents in our city. While the growth in Nashville has brought a lot of wonderful changes, the rising rents can make it hard on growing families and young people starting out. And while we can’t offer an across-the-board answer to that problem, we do hope to do what we can for renters who think they might be ready to cross over to homeownership.
It’s a big leap, and a sometimes intimidating one, but our aim at ACRE is to make it less of the latter, more of an exciting, inspiring change that’ll make it possible to live in a place you love at a price you can manage.
Figuring out whether buying a home is doable for you takes some research and some legwork, but we can help with that, from Nashville housing market advice to financing referrals.
Yes, it can be tricky to find properties at first-time-buyer-friendly price points around Nashville right now, too. But it’s something we excel at — we listed a super cute starter home in Madison about two weeks ago at $80,000 asking.
Reach out and talk to us if you think it might be time for you to buy a Nashville-area home; we’d be thrilled to help you. In the meantime, to give you a look at what your options might look like on a first-time-buyer-friendly budget, here are some homes on the market now, listed at well under the average Nashville home sales price (hovering around $230,000 right now).
703 Hadley Ave.
Old Hickory, TN 37138
Buyers who love historic homes would definitely do well to head toward the lake and check out Old Hickory Village. The cozy, quaint neighborhood is stocked with sweet older homes at approachable prices — like this 1927 cottage, listed under $140K. You’re a little hike from downtown (about 15 miles), but you get the benefit of waterfront life and a tight-knit community that gives East Nashville a run for its money.
118 Larkin Springs Rd
Madison, TN 37115
If you’re hoping to stay close to Nashville, we’d encourage you to give Madison a long look. It’s close to all the happenings in East Nashville, not far from downtown and it’s growing steadily. Still, you can find a lot of home for the money there, like this 3-bed, 2-bath, 1252-square-foot home, listed at under $150K. It’s in fantastic shape, and has some great upgrades too, like bamboo flooring and stainless appliances.
3330 Percy Priest Dr
Nashville, TN 37214
The Donelson area is another must-hit for buyers who feel drawn to historic bones. Love the mid-century ranches in East Nashville, but find the prices out of reach? You can still find mid-century homes in good shape in and near Donelson, close to East Nashville and convenient to the Interstate, at a much lower per-square-foot price. This 3-bed, 1 1/2-bath home is nearly 1600 square feet — pretty large for a starter home — and it’s listed under $170K.
8220 Luree Ln.
Hermitage, TN 37076
Just a quick skip out from Donelson, Hermitage is another excellent option — it’s a pastoral part of town with a lot of charm, and a lot of convenience, with a lot of well-kept mid-century homes, at not a lot of money, comparatively. This sweet brick home’s clearly been loved, and upgrades like those cute barn doors really add a lot of interest. It’s listed at just under $190K, but at $121 a square foot, you’re still well under comparable homes in areas like East Nashville.
So what do you think? Any of these appealing to you? Want to explore these areas, or get a sense of what else is out there?
Helping first-time buyers achieve the dream of homeownership is one of the things we love most about our jobs. And we’d love to help you find the right place, at the right price. Call or email us, and let’s talk about what you want and need.