Nashville New Homes: New Home or older home? You decide.

Which in the Nashville area is better to buy?   A brand new home, or an older home?   Thats a good question and the answer really depends on who you ask.   Better yet, just ask yourself!  

Let’s compare…

New Homes

  • Everything is new, clean and fresh. 
  • Everything that is man-made has a useful life.  In your new home, you get to start the useful life clock!  Before you need a new roof, your hair color will have probably changed and you will be well on your way to retirement.  You will not be replacing corroded water and sewer lines in your lifetime.  The list goes on.
  • In a new home, depending on the stage of construction, you have the flexibility to personalize your home with your own choices!
  • There are many life styles and floor plans to choose from, all in the same location.  Decide where you want to live and then decide what you want your new home to be, not the other way around.
  • Stay healthier and safer in a new home.   You don’t have to worry about lead-based paints.  You don’t have to worry about what may be looming in the HVAC ductwork.  You don’t have to think twice about what may be in that carpeting.  Your home meets all the latest building codes.
  • A new home is certainly more energy efficient, which leaves you more money to enjoy life with.   Remember, you just can’t beat fun!
  • A new home comes with a warranty.  Many of the mechanical systems carry long term warranties in addition to the builder’s warranty.
  • You are the “first link” in the equity chain.  You get first dibs!
  • Your new trees are not as tall as your new home, eliminating the chore of gutter cleaning for many years.  You will have great fun showing pictures from the cruise you took while your old-home friends were cleaning gutters.

Older, Resale Homes

  • If you like to spend vast amounts of money on tools, an older home may be just for you. 
  • You can enjoy working on your house while your friends are playing golf, boating, fishing, hunting, watching ball games, or traveling.
  • You are not the “first link” in the equity chain.  Others have come before you. 
  • An older home may not comply with the latest codes, and may not be eligible for FHA financing.  That may not be a problem for you, but it could be a problem when you want to sell.  Not everyone has 20% to put down these days.
  • Buyers tend to have more negotiation power with resale homes than new homes.  Just like they do with used cars.  Remember, there are probably issues that you don’t even know about waiting to be fixed.
  • The older home may be in a neighborhood without protective covenants.  “Terrific!” you may say.  Until your neighbor parks a mobile home in the back yard for a brother-in-law to live in, who happens to work on old trucks.

 Those of you that prefer older homes, please do not take offense with this satirical comparison.  I know that a newer home is not for everybody… just the people that want more fun out of life and do not want their second job to be at home!

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

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Nashville New Homes: Never Too Cold in a New Home.

My primary goal for 2011 is to have more fun at everything I do.  Whether it is work, just relaxing, or play… if it isn’t fun, we’re simply not doing it right!  With this “have fun at everything” frame of mind, we have found ourselves spending a LOT of time at the boat on Old Hickory Lake since ringing in the New Year. 

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This week’s cold snap in Middle Tennessee brings back many memories.  Many years ago, a great friend, Bobby Harden, wrote a song that was one of Mark Chestnutt’s greatest hits, “Too Cold at Home.”  At the time, he was living in a log mansion in southeast Davidson County and used to joke about coming to his boat in the winter to get warm, away from the many drafts in that house.  I can relate because our older home has them too.

Although we still own an Ole South home in Spring Hill, we currently live in an older ranch home in Nashville.  You know the saying… “They don’t build them like they used to…”   My response…. “Thank God they don’t.”   In our old home, the best method to conserve energy is to leave and go somewhere else… like to the boat.  It wasn’t that way in any of the Ole South homes I have owned.

Its never too cold in a new home.  Not only are new homes warmer in the winter and cooler in the summer, but they address the latest trends too!  Check out this list of top trends…. and Ole South addresses each category too!

http://realestate.msn.com/article.aspx?cp-documentid=26685367  

And the message that “New Homes are Better” is spreading, which is great news for our nation’s home builders.  Check this out:

http://www.mortgageloan.com/big-new-home-gains-predicted-2011-8220

But don’t wait too long to explore the new home options that are out there.  Times are “a-changing” and interest rates will be too!  Please call me anytime I can be of assistance in any way.

In the meantime, STAY WARM!

Nashville New Homes: Ten more days…

Isn’t it hard to believe that in just 10 days it will be Christmas morning?   The Christmas programs that everyone has been rehearsing for will be over, another Christmas Eve will have passed, you’ll have a new supply of King Leo candy sticks, and if you need anything at the grocery store, you’ll be out of luck and have to wait, or go visit Habib at the Kwik Sak.  Get a lottery ticket too while you are there.

Its also hard to believe just how bitter cold it is right now.  Very few things beat coming into a warm home when it is cold and I had the pleasure of welcoming a first time buyer into their brand new, warm Ole South home today.  That’s always a special time, but it was especially meaningful to me today… I had left my coat in the car!

If you haven’t bought the perfect Christmas gift for the family yet, consider a new home if you don’t own one already.  Can you think of a good reason not to?    You can own a brand new home in Nashville for less than $800 per month, including taxes and insurance.  And you can also pay more if you would like!

No matter how energy efficient your new home is, cold weather like we are experiencing right now will spin your meters like a roulette wheel.   Everyone knows that new homes have proper insulation, energy efficient windows, high efficiency heating systems,  efficient appliances, etc.   But here are a few helpful hints to save a few extra heating dollars with any home this holiday season:

1)  Try setting your heat at 65.   That sounds crazy, but we started that at our house several winters ago and it really has saved a fortune.  (If you think that is cold, go outside for a few minutes and then come back in) 

2)  If you have a central heating unit, switch the fan from automatic to MANUAL mode.   Warm air rises and cold air falls – leaving the fan on manual keeps the air evenly blended and actually reduces the time the heating elements are on. 

3)  If you have a heat pump, whenever you need to set the temperature higher, do it in small increments of 2 degrees.  This will keep the electric coils from kicking in, and slowly raise your temperature. 

4)  Build a Fire?????   I know people say not to use a fireplace because all the heat goes up the chimney and I think that is a bunch of crap.   If that is true, why do people build fires in the fireplace to keep warm when the power goes out?  Just a thought….

Also, no matter what type of home you live in, keep a pair of gloves, a flashlight, and a blanket in your car and keep the gas tank full.  This time of year, anything can happen on your way home from work.

Bottom line….Stay warm and take time to enjoy the season before its gone!

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 home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

Nashville New Homes: We told you so… But its still not too late!

Remember all the talk over the recent months about NOW being THE time to purchase a new home?   Realtors and Mortgage bankers have been preaching it.  Every financial planner has been agreeing.  I’ve written numerous blog posts about it too.  Many people listened and bought a new home.  Many people did not.  They are still renting.

Well, it still is a great time to buy a home….BUT…. you really should have bought when you were asked to several weeks ago!   No one wants to hear “we told you so” so I won’t say it.  

If you haven’t heard, interest rates have inched upward in recent weeks.  Here’s the story:  http://www.latimes.com/business/la-fi-mortgage-rates-20101210,0,1978719.story

But rates are still incredibly low, and there are many incentives to buy a new home right now.  The fact that a first time buyer can buy a home with little to no cash out of pocket, and have a 4.55% fixed interest rate is still incredible!  If you would like to know more about buying a home, call me…or your favorite Realtor.

A good credit score is a necessity for obtaining a mortgage loan, car loan, or most any loan for that matter.  Here is an interesting article about credit scoring, or as it says, credit ranking:  And we thought we had it all figured out!

http://www.zillow.com/blog/new-twist-your-credit-score-is-a-ranking-not-a-rating/2010/12/10/

Something else to think about… You will stay WARM in the winter and COOL in the summer, all while saving energy, in a brand new Ole South home.   Think about it, why shouldn’t you own a new home?

OK, lets say it again:  “If you have any desire at all to own a home, act now.”   You will be glad you did!

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 home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee