Saturday, June 22

Navigating the Fixer-Upper Market in East Nashville: Key Considerations

East Nashville on the Cumberland River is a vibrant neighborhood. Homebuyers worldwide love this city’s rich history, artistic culture, and diversified character. An East Nashville fixer-upper may make a diamond into a gem. Due to its varied neighborhoods and strong community, East Nashville offers purchasers a mix of historic and modern properties. East Nashville TN real estate agent Shane McCarty can help investors and first-time homeowners navigate the exciting property redevelopment process.

East Nashville real estate

East Nashville’s diversified neighborhoods, lively arts scene, and diverse food options make it a hot Nashville real estate market for all ages and ethnicities. In this competitive real estate market, homes sell rapidly and above the asking rate. The most popular East Nashville neighborhoods are:

  1. Five Points: A hip district with new and historic homes, nightlife, and restaurants.
  2. Cute bungalows and Craftsman homes in Lockeland Springs.
  3. Inglewood: Single-family residences, apartments, and businesses.
  4. Eastland: A family-friendly community comprising single-family houses, townhomes, and apartments.
  5. Shelby Park: Historical Victorian and Craftsman area.

If you want a varied, active community with various housing options and convenient amenities, move to East Nashville.

Homes for sale in East Nashville

East Nashville homes for sale include historic bungalows, urban condos and townhouses. These homes’ unique blend of character, artistic flair, and urban convenience attracts a diverse range of homebuyers looking to join the neighborhood’s vibrant and evolving community. Below are considerations to make when buying a fixer-upper home:

Determine what you want to do with the property

Buyers should know their goals before buying a fixer-upper. Do you want to flip it for profit? Is it to build a family home? Both goals are worthwhile, but their outcomes differ. Best for flipping are properties that need only cosmetic and minimal structural modifications. Buyers should know the home’s initial worth and carefully choose projects that increase in value over time. A modern bath, kitchen, and simple curb appeal renovations can raise the home’s value and flip profit. Buyers of fixer-uppers for future family homes should pick a home that will cater to their long-term needs. A 1930s farmhouse with a large yard may look perfect, but the limited number of bathrooms, closets, and closed floor design may not suit the buyer’s lifestyle and are expensive to restore. These purchasers may benefit from a home with a footprint that suits their lifestyle.

Set a realistic budget, time and needs

Homebuyers should be realistic about budget, DIY skills, and renovation costs, including labor, materials, and unexpected costs. It’s tempting to dismiss a project as insignificant or something you can do yourself only to discover it needs professional aid. Starting with a realistic budget can help you build your dream home.

Search for cosmetic fixer-uppers

Cosmetic upgrades like painting the walls and refinishing the cabinets may cost little, but they contribute significantly to the property’s value at the time of sale. Structural renovations are often less profitable because buyers expect the home’s key systems to be in good functioning condition when the home is sold, and replacing or repairing these systems can be rather expensive.