4 Reasons to Buy a Home in Nashville This Spring

By
Real Estate Broker/Owner with Southern Living Realty Partners TN Lic# 266926

Originally posted at: https://rhondaburgess.com/4-reasons-to-buy-a-home-in-nashville-this-spring/

 

4 Reasons to Buy a Home in Nashville this Spring

Nashville New Construction

Spring has sprung, and it’s a great time to buy a home in Nashville! Here are four reasons to consider buying TODAY instead of waiting.

 

1. Prices Will Continue to Rise

CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months.

The same report predicts that prices will continue to increase at a rate of 4.6% over the next year.

Home values in Nashville will continue to appreciate for years. Waiting no longer makes sense.

The prices from years ago are not coming back.

And as more people move into Nashville and Nashville is viewed as an “it” city, the demand for housing will only increase.

Mortgage Rates Are Increasing

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage came in at 4.41% last week.

Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment.

year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

And apartment rents are only increasing as well even as new units are completed.

You can make the choice to either pay someone rent or pay your own mortgage.

3. Either Way, You Are Paying a Mortgage                                         Paying Mortgage vs Rent

Some renters have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage.

Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life.

As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move On with Your Life

The cost of a home is determined by two major components: the price of the home and the current mortgage rate.

It appears that both are on the rise.

But what if they weren’t? Would you wait?

Examine the actual reason you are buying and decide if it is worth waiting.

Decision Time

If the right thing for you and your family is to purchase a home in Nashville this year, I would love to help you achieve homeownership.

Give Rhonda a call at 615.554.0832

Posted by

Southern Living Realty Partners Logo

Rhonda Burgess, Broker

615.554.0832

 

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Topic:
Home Buying
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Tennessee Davidson County Nashville
Tags:
nashville real estate market
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best time to buy a house in nashville
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Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Excellent blog and one that makes sense and hope buyers and sellers get to see it here.

 

Mar 20, 2019 08:57 AM #1
Rainmaker
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Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

As we head into this spring home buying season, hoping that someone ready  buy a home in Nashville will view this post featuring 4 reasons to buy and contact you for your real estate services.

Mar 20, 2019 08:12 PM #2
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Rhonda Burgess

Moving to Nashville TN Real Estate Specialist
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