So I wanted to move to the Nashville, Tennessee area? Before I got started looking I had so much to consider before I actually made an offer on a house.
With the price of housing and mortgages low enough that even I can get a mortgage, I needed to make sure that the areas that I was considering a purchase were both safe and a financial asset before making an offer. Real Estate is supposed to be an investment so we all need to make sure we will be able to resell the property for a profit in the future when it is time to move on.
The information that I will be giving is subjective and certainly anyone that is going to purchase a home in these areas need to do their own research and draw their own conclusions. Please consider this a guideline for those of you interested in moving in or around Nashville.
First thing I noticed was that the local mall was out of business. That is never a good sign. Antioch has lots of affordable housing and is very close to downtown Nashville, in fact only 10 to 15 minutes away but some of the areas are not considered prime locations. Yes, there are areas or little pockets of this city that are nice and could be considered a good buy but by and large it is not a safe area to live. You need to remember that even if you are considering purchasing in a safe area of that city, you may still have to drive through some questionable areas to get to your home daily.
Another area that has much lower purchase prices but can be hit or miss for value and safety is Madison which is to the north east of the downtown area. Again there are some decent areas here but the majority of the city has a very high crime rate and low school ratings. These are two things that certainly should make you re-consider purchasing there.
Another thing that needs to be kept in the back of your mind as you look in the Nashville area. The flood plains here can be devastating. This was evident and was shown by the dramatic floods that Nashville suffered in May of 2010. Many people outright lost homes and others later found out that the homes were irreparably damaged and had to be demolished. Still today you can find buildings that are near the river that have internal scars from the flooding. There are still homes there with mold damage from improperly repaired housing and as a result. It would serve you well to look into the flood maps and the history of any property you are considering in this area.
Before making an offer
Make sure to check the crime rate and the flood plain maps before you make an offer on any property, anywhere and any place you want to consider purchasing. Keep in mind that if you buy the wrong property, you may be stuck with it forever. If the price seems to good to be true, there is probably a reason for it. You do get what you pay for and that needs to be remembered while you are house hunting.
Last helpful tip when trying to buy a home
Bottom line is that you should take your time, do lots of research on areas via your computer so you don’t spend all of that time looking at properties, money for gas and mileage on your engine and tires and come up empty handed. You can find out so much online regarding crime statistics, school ratings and resale values. I am still living in a gorgeous home that is unfortunately 1 and 1/2 hours from the city which makes it really hard going in several times a week for business. I have yet to find my perfect dream house for the right price and location and until I do, I will stay right where I am. My hunt continues and when I do find that place, I will be sure to let you know about it.