If you’re thinking about buying your first home, let me be the first to congratulate you! Taking a leap into the real estate world is a big deal, and it comes with its own unique set of challenges. Luckily, Nashville is a fantastic place to call home, and the market is red hot. Before you get overwhelmed, check out my top tips for finding your perfect Music City dream home.
Be Prepared
Believe it or not, Nashville has one of the most competitive real estate markets in the South. This can make finding the home of your dreams a bit hard without the right agent on your side. I’ve helped many clients find the home they’ve been looking for, and being prepared makes the process much smoother.
A lot of buyers find themselves in a multiple offer situation, which means you might miss out on a home you love. However, there are ways to appeal to sellers in such a competitive market. To gain an edge, I suggest having your pre-approval letter in hand and making an offer soon after a home is listed. This can heighten your chances of getting the home you want, but don’t forget to be patient. The home-buying process can take time, especially when homes sell so quickly.
Find the Right Neighborhood
Nashville has many unique neighborhoods to choose from, so it’s crucial to do plenty of research and find one that’s right for you. When choosing a neighborhood, there are many factors to consider. You should pay close attention to commute time, home prices, and nearby amenities. Once you’ve narrowed down your options, take a stroll through the streets to see what living there is really like.
Some of my personal favorite neighborhoods are SoBro, a honky-tonk area just south of Downtown, and The Gulch, home of the Frist Art Museum. Nashville has some top-notch suburbs, too. Brentwood, Nolensville, Kingston Springs, and Mount Juliet are all places you’ll want to call home.
Consider First-Time Home Buyer Programs
Did you know there are plenty of government-sponsored programs that help first-time buyers? Both the federal and Tennessee state governments have policies in place that you need to know about, especially if you’re having trouble coming up with a down payment.
FHA loans are sponsored by the federal government, and they’re designed to help those who cannot afford a down payment or are rebuilding their credit. If you’re approved for an FHA loan, you might only need a downpayment of 3.5%. Tennessee also has a program for first-time buyers called the THDA Great Choice Home Loan. Eligible Tennesseans can use this type of loan to cover most of their down payment and some closing costs.
Ready to Make Your Move?
When you’re buying your first home, the process might seem overwhelming. Don’t worry—I’m here to help you navigate the ever-changing Nashville market.
Just call me, Tina Self, for all of your home buying and selling needs. I have years of experience and have helped many first-time buyers find their dream homes. Have any questions? Drop me a line so we can take your next steps together!