by TJ AndersonPhoto: @staylocalnashville on InstagramHere we go again, Nashville: HGTV brings its eye (or more specifically, its cameras) back to Music City. The latest home show to be set in
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....
Latest Blog Posts
by TJ AndersonPhoto: Lady Bird Johnson speaks with Nashville mayor Beverly Briley and an unidentified woman at the Hermitage in 1967, via Tennessee State Library and Archives.Getting to know
by TJ AndersonA lot of factors go into figuring out the best place to move after college graduation. Being close to friends and family might be your driver, or being close to an industry center that