La Vergne is the best place to Buy a Home in Tennessee. That’s according to new research from Go Banking Rates, which shows the best place to buy a home in each state. And real estate experts say La Vergne is a solid investment, especially for first time home buyers.
“Great place for first time home buyers. And when you look at the schools, the schools have good ratings. You look at Veteran’s Park, you look at the library, it’s close to healthcare, close to the hospital, great location for getting on the interstate. And so La Vergne has a lot to offer and it has a community feel to it,” said Greg Myers, President of Middle Tennessee Association of Realtors.
There are a lot of homes under construction to accommodate all the people moving to the area to take advantage of those amenities, and reasonable home prices. But new construction will cost you a little more.
Myers said, “As a general rule right now, what’s being built is a little higher in price because the land has gone up so when the builders are buying lots or have lots reserved with the higher price they’re having to build a higher priced home. And so the existing home sales right now is what’s active in La Vergne because you can’t find that any place. No one’s being able to build in that price range.”
He tells News 2 another advantage of buying a home in an established home is that you can get more acreage.
He said 881 homes changed hands there in 2018, and judging by how quickly the city is growing, that number is expected to increase this year.
“When you go back and look at the records from 2016, 2017, and 2018, we’ve just seen kind of a general increase. The average square foot is around 1700, and the price range is going to range from $185,000 to around $500,000, but the average is around $225,000. So when you take a look and you say well how does that compare to like Davidson County, for example, okay, Davidson the average home sale was $361,000 with the average size around 1900 square feet, so there wasn’t that much difference in square footage but you can see a big difference in price,” Myers told News 2.
The average sales price of a home in Williamson County in 2018 was $565,000 for about 3100 square feet. The average price in Gallatin is $335,000 for just over 2300 square feet.
According to Myers, the number one thing to think about when you’re buying a house is resale.
He said, “Everybody’s going to live in their home forever but that’s really not the case. On average, they move in three to five years. So we look at resale and a number of things go into that. Location and what the area’s done in the past, school access to when you look at being close to Nashville. I mean Nashville’s just booming but you look at the business in La Vergne. It’s hub for distribution centers and businesses moving out of Nashville looking for reduced tax rates.”
Myers calls La Vergne “the gateway into Rutherford County,” and says residents enjoy it so much because of the close proximity to healthcare, retail and restaurants, Percy Priest Lake and parks, and I-24 and Nashville.
You can read the full report here.