What are some good areas for first time home buyers to live in Nashville where the homes are under 200k?

Asked by Sara, Nashville, TN Sun Jun 22, 2008

My husband and i are young professionals who would like to live in a fun, relativiely close to downtown, area. We previously lived in Hendersonville and liked it, however, felt we were too young and that we were missign out. For the last 14 months we have lived in Hillsboro village and LOVE it however can not afford to buy here. We have looked everywhere and are feeling discouraged because every area we can't afford.

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Megan Manly, Agent, Nashville, TN
Sun Jun 22, 2008
Spectacular question. One thing that Nashville is known for is ecclectic, diverse, affordable homes. According to what you need you have several options at that price range.

1. Woodbine, Glenrose, Murray Hills: mostly ranch homes, finding a 2 bath may be a challenge, but 1 and 1.5 baths are commonplace. Within 5 to 8 minutes to downtown.

2. East Nashville (specifically Inglewood, Shelby Village, Rosebank, Maxwell Heights, Neil S Brown, Cleveland Park, and McFerrin Park): Expect every sort of home you can imagine from bungalows to Tudors to new construction to ranch homes. Again, if your bed and bath needs are flexible, the neighborhood has a lot to offer. Areas vary from 3 to 12 minutes from downtown.

3. Sylvan Heights: You'll find several cottages and some new construction; however, the new stuff will more than likely be above the $200K mark. 3 minutes to downtown.

4. The Nations & Charlotte Park: Lots of homes varying from ranches in Charlotte Park to tons of variety in the The Nations. 5-7 minutes to downtown

5. TSU/Fisk/Meharry: Ecclectic homes, new construction, cottages, Victorians all easily within your budget. 3-5 minutes to downtown.

6. Hope Gardens: A few options are here, some are new and some exist. You'll have to be open to the stock because it is such a small little neighborhood. walkable to downtown.

7. Villa Place: I LOVE LOVE LOVE this area and it could be your answer. There's actually two homes I can think of that I've been in that may fit the order. Some miss the "cute" factor, but it's walkable to The Gulch and Demonbruen shops. 2 minutes to downtown

8. Historic Chestnut Hill: Very very tiny neighborhood chocked full of historic, early 1900s homes. Within walking distance to the new Rolling Mill Hill. 2 minutes to downtown.

9. Woodland-in-Waverly: Limited stock, but when you find it, it's good. Location rocks with walkability to Douglas Corner. 3 minutes to downtown.

Best of luck in your search. I know it can be a struggle to find the perfect fit, but hang in there...you'll find it!
2 votes
Kimble Boswo…, , Nashville, TN
Mon Jun 23, 2008
Sara,
You are certainly looking at the right time and Brian is right, there are so many great options in and near downtown that could work for you and your husband. As you can see, your biggest challenge as an under 200K first time buyer will be getting to know the differences between all the different options available and being prepared to make a decision relatively quickly when you find the right place.

Despite what you might have read or heard in the media, one of the largest groups of people buying homes right now are searching for almost exactly what you are - their first home, near downtown, under 200k. So, although there is a lot of inventory right now, there is also a lot of competition for the most desirable properties.

The most important steps you can take are:
1) Find out exactly what you can afford (sounds like you're already started with this). Get prequalified with a lender you trust can not only find you a loan, but help you navigate the new rules that crop up every day now that banks are tightening their belts. Some folks are even lining up a 'back up' lender in case there is trouble in late stages of the purchase.
2) Narrow down your wish list - home or condo? neighborhoods? what are the must-have home features?
3) Set a time frame for your purchase. And set aside time to do the legwork to find your new home.
4) Choose a Realtor - make sure you are working with someone who knows the area, knows the process and knows how to guide you through the current market conditions.
5) Find your place.

Best of luck with your search. With the right preparation and the right help, you should have no trouble. You might even find you enjoy the process and it happens a lot faster than you thought possible.
1 vote
Dena Parker…, , Tennessee
Tue Aug 5, 2008
In addition to what was already suggested to you, Sylvan Park will usually have 1 or 2 dip below $200,000. If you're watching for them, you can move quickly to grab one if you like it. Sylvan Heights, as already mentioned, might be a good option for you too. If you are handy and do not have hard size and condition requirements, there are usually a small number of options in the Belmont area under $200k. It may not be your ideal place to live, but over time you can work on it and have it turn out to be a great investment for you in the long term. You can also look at Music Row or Edgehill as well, which is close to where you are now.
Web Reference:  http://homenashvilletn.com
0 votes
The Daniels…, Agent, Colorado Springs, CO
Tue Jul 22, 2008
Hi Sara,

The first thing that any home buyer should do is contact a Realtor who specializes in your local market. This is especially imperative for any first time home buyers. You will be pleasantly surprised how much easier your outlook on buying a home will be. A Realtor will be able to create a buyer plan that meets your particular needs along with setting you up with a reputable lender to find out what loan programs including a FHA option will best suit you. They will also be able to go over the price ranges for different areas. Good Luck!
0 votes
Alison, Both Buyer And Seller, Bellevue, WA
Tue Jul 22, 2008
I am selling a great starter home in the Bellevue area for under $200 thousand. Our neighborhood, POPLAR RIDGE, is FULL of young professionals and young families starting out. We are all actually great friends and have taken several vacations together. There's always a cook out or get together on the weekends. It's a great neighborhood for making lifelong friends. Another bonus is it's extremely convienent to I40 and about 12 minutes to downtown.
0 votes
Kelly Gibson, Both Buyer And Seller, Nashville, TN
Fri Jul 18, 2008
My husband and I bought our house Nov. 2006 and we are being transferred by the Navy to Norfolk, VA. We were first time home buyers and now we are having to sell our home. Please check it out it is for sell or rent and the address is 210 Townes Dr. Nashville, TN 37211. Our home is listed on zillow.com and trulia.com and many other sites. We live in a great area close to everything. I work in Brentwood and it is a 20 min commute to work on the worst day. We are central to most of the malls; Opry Mills, Cool Springs, and Green Hills. If you have any questions email me at my_little_rose1@yahoo.com
0 votes
Chad Wohlers, , Nashville, TN
Wed Jul 9, 2008
Sara,
I'm with you; I love the Hillsboro Village area. 200K can move you into the area; however you're looking at smaller condos off Fairfax(walking distance to Fido, Pancake Pantry, ect) or you're looking at smaller condos of 18th Ave(close to Virago, Lime, ect) I'm assuming you have seen what 200K gets you in the heart of Hillsboro Village and are not satisfied.

No worries, there is good news! I have found great condos in very cool areas offering close proximity to Hillsboro Village, Downtown, & Green Hills. I really like Park at Melrose in the 12th South area (New 1 bedroom condos go for around $170K - Yes NEW!!! They are big too; plenty of room for couples) This development is ready now & offers a fitness center, swimming pool, & lounge area) I just sold one here last week & loved it; very cool vibe.

In the heart of Green Hills I like Hillmont development; it’s right off Hillsboro Pike & Woodmont. This gated community offers lots of green space, a swimming pool, & fitness center. Its 2 minutes from the Mall at Green Hills & a $5 dollar cab ride to Hillsboro Village! $185K gets you a 1 bedroom, with hardwood floors, granite counters tops. $200K, gets you a 2 bedroom / 1 bathroom; hardwoods, granite ect. It's not new but the location is killer.

Anyways, I could keep rambling on but you get the idea. You do have great options!

Thanks!
Chad~
Web Reference:  http://www.CityLiving360.com
0 votes
Megan Manly, Agent, Nashville, TN
Thu Jul 3, 2008
Sara, what size/bed/bath/style are you looking for more specifically?
0 votes
Donna Tisdale, Agent, Nashville, TN
Sun Jun 29, 2008
Try looking in Bellevue. I recently helped a young couple purchase a lovely home for $209k. Also on the southside of town, there are several really nice older homes in Crieve Hall. A little farther southeast and Bradford Hills, or Brentwood Highlands are very affordable neighborhoods. Want a little retail action.. coffee shops, etc. My recommendations then would be Lenox Village in Southeast Nashville or homes in Lockeland Springs in E. Nashville. I hope you will give me a call and let my real estate team help! I recently previewed several homes in the 200k range in E. Nashville!
Web Reference:  http://www.donnatisdale.com
0 votes
J. Poster, , Nashville, TN
Tue Jun 24, 2008
Hope Gardens. Not as trendy as Hillsboro Village but emminently more affordable and still downtown.
0 votes
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