Nashville New Homes: What do YOU want? What do YOU need?

In Nashville, new homes come in all shapes and sizes.  Somewhere out there is the perfect home that meets all of your needs, so get out there and find it!  You can start by visiting the new homes offered at www.OleSouth.com.   We have new homes all over Middle Tennessee including Nashville, Smyrna, Murfreesboro, Spring Hill, and Clarksville. 

FHA Mortgage Insurance Increases April 18, 2011

If you can contract to purchase your new home before April 15, 2011, you can have your loan application approved  in time to avoid the increase in FHA mortgage insurance premiums on April 18th!   Or, you can wait and pay more.  It won’t be the end of the world, but it is savings worthy of consideration!

One of the first questions I ask our visitors is “what in their new home is most important ?”   The answer tells if your prospect has given serious thought and preparation in purchasing a new home.   Think about it.  We are in the business of satisfying NEEDS first, and WANTS second.

Before you begin your quest for a new home, make two lists….one list of things that you need and another list of things you want.  Then, beside each item, write down how that item will make your life more enjoyable, or just how necessary that item will be.  

Many put a formal dining room at the top of the list, because their family comes for Thanksgiving every other year.  Let’s do the math!   The average home with a separate, formal dining room costs at least $10,000 more to purchase than a similar home with a breakfast room.  That’s approximately $70/month.  You will spend $1,680 in your higher payment just to have Thanksgiving at your house every other year.  That doesn’t even include the cost of the dining furniture either.   Will a few card tables and chairs in the Great Room suffice?  And we forgot about the cost of the groceries too!  What about going to Cracker Barrel instead?

Others want a 4th bedroom because family comes to visit a week in the summer.  That extra 4th bedroom will cost at least $15,000, or approximately $100/month, not including the extra bedrom furniture.  Feel like you really need to pay $1200/year to give Mom and Dad their own room for a week?   A motel would be cheaper, and their visit more enjoyable too.  

Lets dig on.  Will that smooth-surface range really make food taste better?  Does an “undermount sink” actually accomplish anything?  If you want a double-vanity, will you really use both sinks at the same time?   Are you going to pay extra for a room full of hardwood, and then cover it with a rug?

Is a seperate shower and soaking tub really one of life’s deal-breakers?  Are you really going to use both at the same time?  Wouldn’t a combination tub/shower still suffice?  If not, don’t feel guilty.  That option is approximately $20/month and you get the double-vanity too!

There is absolutely nothing wrong with wanting a lot of extra features in your new home.   Ole South offers a great selection of home plans and options to satisfy your wants, while our included features will satisfy most all of your needs.   

Balancing your needs and wants will lead to more happiness..not just with your new home, but everything life has to offer.   And don’t forget, if you contract to purchase before FHA mortgage insurance goes up, you’ll be able to have a few more “wants” for the same monthly payment, or less!

I once had a couple that had just gotten engaged tell me they HAD to have an upper AND lower Owner’s Suite.   I was expecting to hear that they were taking care of an aging parent when I was informed that “we fight a lot and need space from each other.” 

So….  Lets get married and buy a home.  Might as well go ahead and have a baby too!

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, 615.896.0019  direct 615.593.6340.  Specializing in new homes in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

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