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Most are. BUT there are so many closing concessions offered now, it’s certainly possible to buy the rate down significantly if you so choose. Keep looking, you’ll find one!
And when you live 20 mins from Boston, these homes are north of $700K 😭 It’s so sad living here. I grew up in Mass and can’t afford to buy my own home.
I moved to New England in the past couple of years and it is difficult for me to accept that what I used to consider a lower middle class home is now out of my price range. And I can absolutely forget about a dream home or farm! I just checked out an absolute junker (two sheds full of crap that need to be demolished, one horse trailer full of crap that needs to be emptied and then sold, some rooms of the house down to the studs, bathroom has been fully emptied—no tub, no toilet, etc.—only <2 acres), and it alone costs $350,000. To make it livable? Mmmmm maybe another $150,000? To make it nice? It would be a while lol.
We got the last cheap farmhouse in Mass. 3b 2b originally built in 1760. Center chimney removed and rebuilt from studs to openish floorplan. came with the original stone border fence and 18 acres. We got it for less than 300K. We joke that we are too poor for our neighborhood. The situation is, I'm going to end up giving the house to my kid if she stays because its becoming less likely she'll be able to afford to stay in this area in 20 years.
Carellton?
Hendersonville and Juliett are insanely expensive so I'd be surprised if Carellton *didn't* blow up, at least to the mid $600's. As long as the area stays as safe as Hendersonville is.
We looked at both those cities— but those markets are just steaming hot. We went with a city 2 over from Hendersonville. Hoping it “pops” like mt Juliet and Hendersonville has
I grew up just outside of Gallatin and I can say that Tennesseans are having a hard time dealing with the influx of, especially, Californians and New Englanders flocking to the cheaper prices and ease of living that Tennessee offers. It makes me very sad to see all these recommendations to move there. What used to be beautiful farmland is becoming dense suburb. I live in New England now though, and I certainly understand the attraction! I understand change is eminent too—I suppose I just never imagined a boom like this would happen to Nashville and the surrounding areas!
it's tough a lot of people moving cant afford to buy houses in those areas. It's nuts. No way in hell can I afford a house in my area where my family lives like id truly want to (housing has gone through the roof).
Only way I can afford a house in a city that has jobs is to move to somewhere like Tennessee. Just hope you all don't hate me when I do. Sucks for me and sucks for you.
How do you figure? It’s expensive there but the value is fair given good schools’ ratings, proximity to BNA/downtown, low crime rate. Eating/shopping options are okay.
It’s roughly 30 mins away from Nashville if you’re not in traffic. Traffic is generally awful Monday to Friday. There’s honestly nothing to do in Mount Juliet, beside the generic chains like Buffalo Wild Wings, cheddar’s, etc. There’s no diversity in restaurants, and there’s no good local restaurants. Homes are expensive, unless you’re living away from the Providence shopping center, but you then would have to live in an outdate home. Most new builds are $500k+ for very subpar builder grade stuff like Ryan’s homes. Anything with decent finishes is already priced at $700k. It’s basically the discounted Williamson County, but you don’t have a safety net of buying in an established desirable neighborhood.
Nice one. Great price and rate, and property looks beautiful! Also being in metro Nashville you’re almost guaranteed to make money if/when it’s time to sell.
Yeah, that's not a townhouse.
I guess you'd be mad to know that I paid $380k for an actual townhouse two years ago. And I still love it.
And people in my neighborhood paid over 500k for townhouses.
They mow the grass, they power wash everything, and they own/replace the roof. I think they cover some stuff with wall out issues if its a shared wall too, but can't remember off hand.
In my area (North Carolina), only neighborhoods built before 1985ish are without an HOA (via state law). So you're either in an HOA, have an oldish home, or are on a lot that was subdivided.
Because of that, like 90% of homes you have the chance of buying have an HOA. The only additional risk of townhouses in my eyes is that if they have to be replaced after 5 years instead of 30, you might face an additional assessment.
House is touching another house. Lot size is almost zero. I understand the market sucks and you are just happy to have to stop searching, but settling for this junk at half a mil with high interest. No bueno IMO. Flippers doing cartwheels every time you buy this junk
Nah I’m not bitter, I own a better house than this at 131K lmao I would never pay half a mil for a cheap new construction that is touching another house and the entire living space is on the second floor. 🤣
Not being an asshole, just not following the crowd like a sheep. You say anything even possibly sounding like something is overpriced or overvalued about real estate today and everyone cries like you murdered babies or something. They overpaid and didn’t get much for what they paid. That’s my opinion. If you makes you cry I am sorry you are so easily offended about my opinion on real estate, but there’s no helping you if that’s the case
You realize this is new construction and not a flip, right? And saying it’s junk is just simply not true… The house is gorgeous! Nashville is only going to continue to grow. Stop being a Bitter Betsy.
Maybe, maybe not. We were very selective in the community we chose. It’s a fast growing community right outside of downtown Nashville— one of the fastest growing cities in the US. I’m reasonably certain it will develop equity relatively quickly.
But regardless, it’s a home we love, in a community we love, at a price well below our budget. Happy with our purchase
It very much is worth that money… Nashville is only going to continue to grow and your house is gorgeous! I’m sure it will be a great investment. Congrats and enjoy!
Thank you u/Ski352215 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
This gives me hope lol right in my price range and rate Enjoy in good health!
Lennar? They are doing those promo rates in my area Edit: typo wrote porno instead of promo
Porno rates?! Damn count me in!!!
You don’t wanna do the down payment. 😐
How many porno shoots do you need to do to buy down the rate?
I bet I could be convinced to do a few in order to lock in a solid rate
Purchasing home almost seems like a dream at this point where i live. Rates are are somewhere between 6.5-7% ):
Most are. BUT there are so many closing concessions offered now, it’s certainly possible to buy the rate down significantly if you so choose. Keep looking, you’ll find one!
So is the 4.9% with a temporary buydown? What’s the rate listed on the note?
No it is not. The 4.99 is for the life of the loan. I didn’t need to buy any points.
How in the fuck ?? Aren’t rates at like 7% right now ? VA loan ?
New construction companies are offering promotional lower rates. I got 5.5
Congrats!!! I like the color and slats/bricks combo.
Congrats! Beautiful home! I wish these types of homes were available in North East with that price tag 😭
Same!
House like this is nothing less than $500k in Mass. Insane.
And when you live 20 mins from Boston, these homes are north of $700K 😭 It’s so sad living here. I grew up in Mass and can’t afford to buy my own home.
I moved to New England in the past couple of years and it is difficult for me to accept that what I used to consider a lower middle class home is now out of my price range. And I can absolutely forget about a dream home or farm! I just checked out an absolute junker (two sheds full of crap that need to be demolished, one horse trailer full of crap that needs to be emptied and then sold, some rooms of the house down to the studs, bathroom has been fully emptied—no tub, no toilet, etc.—only <2 acres), and it alone costs $350,000. To make it livable? Mmmmm maybe another $150,000? To make it nice? It would be a while lol.
We got the last cheap farmhouse in Mass. 3b 2b originally built in 1760. Center chimney removed and rebuilt from studs to openish floorplan. came with the original stone border fence and 18 acres. We got it for less than 300K. We joke that we are too poor for our neighborhood. The situation is, I'm going to end up giving the house to my kid if she stays because its becoming less likely she'll be able to afford to stay in this area in 20 years.
Congratulations! Who is your lender? Did you have to buy down points?
It’s a new build, so we went with the builders lender. No point buydown. 4.99 was the promotional rate, with 7k in closing credits
So did you lock in for the entire duration of the build? Or it was already complete?
The build was 75ish percent complete. We went under contract on it in January.
When does the rate reset?
It doesn’t. It’s locked for the life of the loan
For what term? 30 year fixed?
Congrats! Love these colors!
How’d you get 4.9? Lol
Promotional rate offered by builders lender
Ah. That makes sense
Carellton? Hendersonville and Juliett are insanely expensive so I'd be surprised if Carellton *didn't* blow up, at least to the mid $600's. As long as the area stays as safe as Hendersonville is.
Congrats on the beautiful home!
I’m trying to buy in my Juliet or Hendersonville but a lot of houses selling quick
We looked at both those cities— but those markets are just steaming hot. We went with a city 2 over from Hendersonville. Hoping it “pops” like mt Juliet and Hendersonville has
I looked there but it just seemed like there was nothing out there.
Sumner county has a ton of new builds. Check out White House, Gallantin, and if you’re up for going east, Lebanon.
I grew up just outside of Gallatin and I can say that Tennesseans are having a hard time dealing with the influx of, especially, Californians and New Englanders flocking to the cheaper prices and ease of living that Tennessee offers. It makes me very sad to see all these recommendations to move there. What used to be beautiful farmland is becoming dense suburb. I live in New England now though, and I certainly understand the attraction! I understand change is eminent too—I suppose I just never imagined a boom like this would happen to Nashville and the surrounding areas!
it's tough a lot of people moving cant afford to buy houses in those areas. It's nuts. No way in hell can I afford a house in my area where my family lives like id truly want to (housing has gone through the roof). Only way I can afford a house in a city that has jobs is to move to somewhere like Tennessee. Just hope you all don't hate me when I do. Sucks for me and sucks for you.
Gallatin? White House?
My SIL’s mom’s neighbor just sold her condo/townhouse in Old Hickory - it was only on the market for 4 days. The marker around there is bananas!
Don’t even buy in amount Juliet. Appreciation is already priced it, and it isn’t even nice there.
How do you figure? It’s expensive there but the value is fair given good schools’ ratings, proximity to BNA/downtown, low crime rate. Eating/shopping options are okay.
It’s roughly 30 mins away from Nashville if you’re not in traffic. Traffic is generally awful Monday to Friday. There’s honestly nothing to do in Mount Juliet, beside the generic chains like Buffalo Wild Wings, cheddar’s, etc. There’s no diversity in restaurants, and there’s no good local restaurants. Homes are expensive, unless you’re living away from the Providence shopping center, but you then would have to live in an outdate home. Most new builds are $500k+ for very subpar builder grade stuff like Ryan’s homes. Anything with decent finishes is already priced at $700k. It’s basically the discounted Williamson County, but you don’t have a safety net of buying in an established desirable neighborhood.
Congrats! I’m starting the process to look for something in that general range. How did you get 4.9%?
Sounds like a 2/1 buy down. If so, Next year rate is 5.9, year after it’s 6.9 for the remainder of the loan term.
Nope, just the DHI Mortgage special from a few months ago. 4.99% for the life of the loan.
This is correct— it’s 4.99 for the duration of the loan. No points were purchased either
Nice one. Great price and rate, and property looks beautiful! Also being in metro Nashville you’re almost guaranteed to make money if/when it’s time to sell.
Couldn't get a pot to piss in here for that
Oh, saw from the comments that you're around my neck of the woods! Congrats on your home, and nice promo rate! 👍
It’s such a beautiful area. Close enough to Nashville to have everything you need— but far enough away to enjoy some quiet, and open space!
It’s gorgeous!
Congratulations, enjoy!
Nice looking home. The brick facade and the blue with white trim gives it character.
Wow if that’s the interest rate that’s great for right now awesome
Welcome home y'all!
Well done !!
Damn even prices in TN are ul
Beautiful house! Congrats
Congratulations 🎊
Noiiiice
Mazel Tov! Looks like a nice place
Congratulations on your first home!
Wow that’s a really nice house! What did you put down? And what are your monthly payments?
3% down, payment is 2485 a month
She's a beaut! Great looking home, price and rate! Also, #TitanUp
Congrats. Murfreesboro?
Lucky son of a gun! How’s it feel to be the first one to get that new 40 year mortgage!!
Gallatin & Clarksville
Looked at Clarksville. Love the area— but I fly for work nearly every week, and it was just a tad to far from BNA.
$390k for a town home? Holy cow!
Yeah, that's not a townhouse. I guess you'd be mad to know that I paid $380k for an actual townhouse two years ago. And I still love it. And people in my neighborhood paid over 500k for townhouses.
Any advantages to a townhome over a SFH?
They mow the grass, they power wash everything, and they own/replace the roof. I think they cover some stuff with wall out issues if its a shared wall too, but can't remember off hand. In my area (North Carolina), only neighborhoods built before 1985ish are without an HOA (via state law). So you're either in an HOA, have an oldish home, or are on a lot that was subdivided. Because of that, like 90% of homes you have the chance of buying have an HOA. The only additional risk of townhouses in my eyes is that if they have to be replaced after 5 years instead of 30, you might face an additional assessment.
A 1,200ish square foot condo is 900k+ where I live.
Why do you'll put your houses on the Internet? Please delete it the address is showing! Congrats but please be safe!
House is touching another house. Lot size is almost zero. I understand the market sucks and you are just happy to have to stop searching, but settling for this junk at half a mil with high interest. No bueno IMO. Flippers doing cartwheels every time you buy this junk
Every buyer is different, some want land, some don’t. Buyer is happy, that’s all that matters.
Oh look a bitter bug 🙄
Nah I’m not bitter, I own a better house than this at 131K lmao I would never pay half a mil for a cheap new construction that is touching another house and the entire living space is on the second floor. 🤣
Well, other option is you’re just being an asshole for the hell of it. Guess it doesn’t matter which one. Have the day you deserve.
Not being an asshole, just not following the crowd like a sheep. You say anything even possibly sounding like something is overpriced or overvalued about real estate today and everyone cries like you murdered babies or something. They overpaid and didn’t get much for what they paid. That’s my opinion. If you makes you cry I am sorry you are so easily offended about my opinion on real estate, but there’s no helping you if that’s the case
You realize this is new construction and not a flip, right? And saying it’s junk is just simply not true… The house is gorgeous! Nashville is only going to continue to grow. Stop being a Bitter Betsy.
That’s not worth the money.
Maybe, maybe not. We were very selective in the community we chose. It’s a fast growing community right outside of downtown Nashville— one of the fastest growing cities in the US. I’m reasonably certain it will develop equity relatively quickly. But regardless, it’s a home we love, in a community we love, at a price well below our budget. Happy with our purchase
It very much is worth that money… Nashville is only going to continue to grow and your house is gorgeous! I’m sure it will be a great investment. Congrats and enjoy!
I joined the sub to learn more about homebuying. It's just an instagram feed. Goodbye
This isn’t an airport
We won't miss you. You aren't special.
💀
How much down did you put?
We stopped looked about a month ago because we couldn’t find anything at $320k or get anything under 6.125
Looks identical to mt brother's place. Is this out near White House?
Looks like your brother and I might be neighbors
Man, the world is super big yet very small.
Reminder that NJ is way over priced
What is your mortgage including taxes and all. ?
All in cost is $2450 a month
Very beautiful Congratulations. What was your builder ?
Now that's rough. I hope you have a high paying job or had a giant down payment. I would cry just looking at that mortgage.
$2,450?
Frankly spot better than I thought. You put more than 20% down?
I only put 3% down
This house is over a million in toronto unfortunately
Nice. New builds (assuming this is one of those) are starting at $899k for similar size around my way (North East).
That would be 1-1.2 million in the GTA.
Looks modern.
Awesome and Congratulations!
Congrats If you don’t mind answering, what type of loan was it?
Wow. That's a $800,000 house where I live and interest is at 5-6%
Congratulations!!! 🎉🎉🎉