It’s inevitable that whenever family and friends are gathered the conversation turns to what’s happening in real estate. We all know someone who has recently bought or sold something and has a story to tell. But what’s the bigger picture, and how can you best capitalize on the ongoing popularity Tennessee is experiencing? As a 17-year veteran of the middle Tennessee market and founder of The Southern Collective at Fridrich & Clark Realty, here is my advice for 2022.
4 Things to Consider Doing In Nashville Real Estate Right Now
- Homeowners: Get a Home Equity Line of Credit (HELOC).
Home values in much of middle Tennessee are currently at all-time highs, so now is the time to let that equity you’ve built go to work for you. A HELOC is a great low-interest option to access cash and invest in making that repair you’ve been putting off, or that renovation that’s been in your sights. My husband and I have done exactly that for our personal home this year. And with reliable vendors being harder to access these days, you will want to partner with a seasoned REALTOR® who has forged strong connections, giving you an edge to see these improvements come to fruition.
- Sellers: Consider a Location & Lifestyle Change.
It’s no secret that Sellers currently hold an advantage in our high-demand market, often receiving multiple offers shortly after listing. The question is — where do you plan to go next? Work-from-home options have rewritten the playbook on where people now decide to live. I have helped several clients in 2021 relocate to more remote areas, allowing them to invest proceeds in a larger property that adds to their legacy portfolio. An experienced REALTOR® can advise you on what features to prioritize with this type of purchase that will serve your needs for generations to come.
- Buyers: Invest in a Rental.
Even in this market of lower inventory, there are still great opportunities for acquisition. And with record numbers of people moving to our area, adding rental property to your roster is a very smart move. Many folks are looking to rent for a year or more before they decide where to put down roots, so I foresee a strong demand of quality rentals for quite some time. I recently completed an analysis of which areas are yielding the highest rents and where the largest inventory pools are for prospective investment properties. A good REALTOR® will be able to guide you to the right fit for your investing budget.
- Buy Land.
A final word on the best move you can make right now is… buy land. So many people are looking for a slice of our Tennessee paradise that they can build on, and it has often been quoted “they’re not making any more of the stuff”. It’s crucial that whatever land purchase you make can meet your short and long-term expectations, so be sure to consult a real estate professional who can assist with navigating the details. Experience and a proven track record of exceptional service are the hallmarks of my business, and I’d love to help with any real estate decisions you face in the new year.
You’re welcome to reach me at 615-335-3270 or [email protected] — let’s get started on achieving your goals for 2022 and beyond!