Nashville, TN –
The average list price per square foot is currently $214 in the Nashville area including Williamson County and parts of Davidson County. Although it is much lower for the rest of the state, according to Zillow, coming in at $124 from the last quarter of 2018, areas of Nashville are in higher demand which is bumping up the square footage value. This should help you out when weighing your options.
It is a great time to sell, especially with the low interest rates. New home construction cost to build is averaging from $150 to $220 depending on the builder, materials used and area of construction.
Property Investment Options
If you live in a large home and don’t need all of the square footage anymore then you should consider selling your home, moving into a home with less square footage and leveraging your equity into a retirement fund, a rental property or a vacation property. Many people are in the season of life where they are empty nesters with their children having moved out on their own and now have a very large home to maintain for one or two people.
Another major advantage to moving and shifting your home investment funds is to move into a community that is geared toward people that you most want to connect with.
Westhaven and the College Grove area have some good choices for singles and couples that want stores within walking distance, community events and lots of opportunity to connect with others.
Selling your home and shifting the funds into building a new custom home is another great option. In many cases you may be able to sell from one highly desirable location and build in a location that is farther away from the Nashville city center but provides excellent lot prices.
There are also many builders that have lots in all stages of construction. A quicker purchase to build option is to buy a lot that is already in the building process which cuts down on your waiting period. You may only have a couple of months of transition time from the point you sell your home to when your new home build is complete.
If you’re ready to make the move and start a fresh new season of life while making a wise financial decision that will help you down the road, give us a call; 615-334-0120 or schedule an appointment for us to show you a strategy that will give you the best market price for your home in the quickest time on market.
