by TJ AndersonPhoto: Steve SnodgrassIf you tend to keep an eye on home-design trends, you’ve likely noticed the return of terrazzo, both in its traditional flooring context and in a bunch of other
Tiny Apartments Are Coming To Nashville Too
by TJ Anderson
I wrote recently about the micro-home village and tiny house hotel coming to Nashville. If those intrigue you, good news: Nashville clearly isn’t done going small.
In the works in Nashville neighborhood Wedgewood-Houston: WeHo Flats, a community based around tiny apartments, all around 200 square feet.
According to NewsChannel 5, the WeHo Flats apartments were designed for Nashville residents who really just want a place to crash, and who are more inclined to be out in the city rather than at home on the couch. Each is partially furnished, with a bed and a bathroom, and each floor of apartments shares four community kitchens. (It breaks down to about 10 apartments to each kitchen available.)
Rent is expected to be under $1,000 a month, including utilities and internet. The developers are expecting to appeal to transitional Nashville residents — maybe touring musicians, grad students, or folks who want a fun place to live while they prep and save to buy a home in Nashville.
If you don’t do much cooking, and prefer Nashville nightlife to entertaining, these mini-apartments could be an appropriate living option, though you’ll have a little time before you can move in — doors likely won’t be opening until 2021 over at 461 Humphreys St. Read more about the project from NewsChannel 5.
What if you want to own a home in Nashville?
Love the idea of keeping simpler, smaller living arrangements, but less than thrilled about continuing to pay someone else’s mortgage?
You won’t find a selection of 200-square-foot condos for sale around here, at least at the moment. But if you’re looking to buy a home in Nashville, while staying a vibrant neighborhood and keeping your monthly payment in that $1,000 range, it’s doable.
Listed at under $195K, this 1-bed, 1-bath, 550-square-foot condo is right off Music Row, close to Vandy, and steps from high-end cocktails at The Patterson House. At list price, with a 20 percent down payment and average mortgage rate, you’re hovering around that $1,000-a-month rate for mortgage, taxes and insurance — and you’re building equity in a Nashville real estate market that looks to still be on the rise.
Another affordable Nashville condo for sale:
Cute 1-bed, 1-bath condo right in the heart of 12 South, walkable to The Gulch, with garage parking, a roof terrace and other amenities, listed under $230K. It’s sprawling in comparison to the WeHo Flats, at just under 500 square feet. But assuming a 20 percent down payment and an average interest rate, you’re likely looking in the area of $1200 for your mortgage, taxes and insurance — not an insurmountable difference for many Nashvillians (especially if you’re cohabitating).
Owning a home in Nashville isn’t for everyone, and those mini-flats are an interesting development for a growing city. But if you’re feeling ready to spend $1,000 a month on a bed and a bath in Nashville, it might be worth considering whether that monthly expenditure could serve you better as an investment. An extra few hundred square feet of living space — and your own kitchen — don’t usually hurt either.
Properties are listed with their own respective real estate firms, and not under agreement with TJ Anderson and/or Benchmark Realty, LLC, unless noted.
TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....
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