Requesting info on area around Portland & Gallatin (Clarksville, Murfreesboro: renters, credit)

[sd2ca]

My wife & I have been giving some serious thought to buying some property around the area mentioned above and retiring there in a couple years. I've located a couple of properties that appear to be just what we are looking for (1-5 acres and a lot of garage space...I insist on having a huge man cave when we buy our next home)

Here's a couple of questions that maybe you can help me out with.

#1 Tornado activity.....after looking at the videos on youtube of the damage in Gallatin and Castalian Springs in 2006 & 2008, I'm a little concerned. Do you think the activity is increasing, or just a couple of unlucky years?

#2 Severe hail storms? Do you get a lot of hail storms?

#3 It appears that most homes are heated by electricity, (heat pumps?) Curious what an average utility bill runs for a 1500-1800 sq ft home occupied by two people? I wonder why more don't use propane for heat? Is it more expensive than electricity in TN?

#4 This looks like it is the time to be investing in a second home, however, retirement is a little less than 3 yrs away. Whats your thought on purchasing a home in TN now and renting it out for the next few years? Big mistake? I've never rented property to anyone and I am a bit hesitant to do so, but I really do think this is the time to buy!

I appreciate any and all information that you can provide! Thanks & HAPPY NEW YEAR!

[DonCorleone]

Originally Posted by sd2ca

#1 Tornado activity.....after looking at the videos on youtube of the damage in Gallatin and Castalian Springs in 2006 & 2008, I'm a little concerned. Do you think the activity is increasing, or just a couple of unlucky years?

I'm not meteorologist, but I really do think it was unlucky years. Those same storms hit other areas as well (Cheatham County, Goodlettsville, Hendersonville in 2008, and the 2006 system tore Jackson to the west of us pretty bad, if memory serves). They were big systems that weren't isolated to Sumner County or even rural areas. Probably the biggest in recent memory hit downtown Nashville and Clarksville in 1998 very hard. They can strike anywhere, really. No one area is more prone than others.

We do seem to have had a lot of tornadic activity in the past 10-15 years or so. But I'm really not sure if it's more than average. In any case, it has caused people to respect the storms and take the necessary precautions like a having weather radios, emergency plans, etc.

As I've told other folks many times, every area of the country has its own set of natural disasters...hurricanes, floods, blizzards, tornadoes, earthquakes...depending on where you live. Ours are mostly severe-storm related: wind damage (tornados or straight line thunderstorm winds) or flash floods. Again, nothing to live in absolute fear from, but something to have a healthy respect for.

#2 Severe hail storms? Do you get a lot of hail storms?

I don't know what you'd define as "a lot", but we do get hail storms. Usually they are not significant (pea to dime sized) and come with the kinds of storms that also bring heavy rain, heavy lightning, and strong winds. The kinds of storms that blow through and are gone in 20 minutes. I'd guess that I hear about hail storms about 5 isolated times a year all across Middle TN. Maybe more.

#3 It appears that most homes are heated by electricity, (heat pumps?) Curious what an average utility bill runs for a 1500-1800 sq ft home occupied by two people? I wonder why more don't use propane for heat? Is it more expensive than electricity in TN?

I see some people using propane, especially in more rural areas. In more urban/suburban areas you'll find natural gas in many homes. We have electric, but I don't pay the bills so I'm not sure what it runs us each month. I do know that the cheapest months (as you might expect) are fall and spring, away from the excessive cold and heat.

#4 This looks like it is the time to be investing in a second home, however, retirement is a little less than 3 yrs away. Whats your thought on purchasing a home in TN now and renting it out for the next few years? Big mistake? I've never rented property to anyone and I am a bit hesitant to do so, but I really do think this is the time to buy!

I think it would be harder to buy and rent a home in Portland, Castalian Springs, or another more rural area. Somewhere like Gallatin or Hendersonville might be easier due to a higher population density, but even then I'm not sure I'd want to do it without a property manager running things, especially if I were not in the same area.

It is probably a good time to buy...I'm just not sure how much luck you'd have renting in a more rural area. Perhaps someone else will have some insight here for you.

Good luck and let us know if you have any more questions.

[sd2ca]

Thank you sir. I appreciate the info.

[Vickie10essee]

Originally Posted by sd2ca

My wife & I have been giving some serious thought to buying some property around the area mentioned above and retiring there in a couple years. I've located a couple of properties that appear to be just what we are looking for (1-5 acres and a lot of garage space...I insist on having a huge man cave when we buy our next home)

Here's a couple of questions that maybe you can help me out with.

First of all, I totally understand your need for that mancave! I have helped many clients that bought this type of property in a rural area with the acreage, garage or workshop, sometimes a pond, some wooded areas, etc. Sounds like a plan for your retirement home! Congrats! You will probably love it here like most everyone else.

#1 Tornado activity.....after looking at the videos on youtube of the damage in Gallatin and Castalian Springs in 2006 & 2008, I'm a little concerned. Do you think the activity is increasing, or just a couple of unlucky years?

#1 Mostly unlucky years, but our weather is not the most predictable. I can see where those videos would be of concern, but knowing what I know myself, that alone would not deter me. If you are majorly concerned with this, you may want to just get whatever property suits you best, and invest in a tornado room. A client of mine that will be selling this spring or summer had one installed in the back yard (underground) and I am sure his property will sell lightning fast because of it. He has 5 flat acres in a rural area. People in rural areas like those tornado rooms!

I noticed when I first moved here from KY that when it storms, it is more intense (wind, lightning). I got used to it and actually enjoy them now. I have lived in middle TN for 10 years now and have not seen an actual tornado. They have hit 15 minutes from my house a couple of times though. I just watch the weather closely when bad weather is coming. I have actually watched the sky while watching the news, ready to get in the half bathroom with the dog, 4-5 times over these 10 years now. DonCorleone said it very well! Have to give him the credit, for sure!

#2 Severe hail storms? Do you get a lot of hail storms?

#2 Here in Murfreesboro, we had 2 hail storms that damaged several homes (siding) that I can recall in the past 10 years. I have had my car parked outside maybe 5 times during any size of hail coming down. I have never had damage. We do have more hail than twice in 10 years (maybe a little hail once or twice per year or two) though.


#3 It appears that most homes are heated by electricity, (heat pumps?) Curious what an average utility bill runs for a 1500-1800 sq ft home occupied by two people? I wonder why more don't use propane for heat? Is it more expensive than electricity in TN?

#3 Yes, mostly heat pumps and some gas. We have both in our house (one floor is electric and the other is gas heated). It is just my husband and I and in a 10 year old 2300 s.f. two story all brick home with a bonus room over the garage. Our electric bill is $60-$212 ($212 was the highest, due to Christmas lights and running the electric heat upstairs at 68-70). Our gas bill is around $17 in the summer (gas water heater only in the summer) and $40-$70ish during the winter, for gas fireplace we run several hours every night sometimes, longer hot showers, and gas heat on 67-70 downstairs. We have had the gas bill up to $100 before though. In Portland if you are in a rural area, you will have a good chance of having propane. My husbands' family lives there.

#4 This looks like it is the time to be investing in a second home, however, retirement is a little less than 3 yrs away. Whats your thought on purchasing a home in TN now and renting it out for the next few years? Big mistake? I've never rented property to anyone and I am a bit hesitant to do so, but I really do think this is the time to buy!

#4 I myself would not buy a home to rent it out for a few years because I have seen soooo many people do this and regret it. People lose jobs sometimes and cannot pay rent. Also, many renters ruin a house that can cost you thousands to fix (carpet and paint). I worked in the rental industry for years. If you had someone you trusted and were willing to take the risk, you could be blessed with not having this problem. When someone moves out or cannot pay, it can be several months before you can rent it out again. If you are okay with a real possibility of the home sitting vacant for several months, paying taxes on it, and utilities to keep it up, then this helps make your decision on the risks of renting it out. WAIT for the right home and try not to let a couple homes you see now that get you going win you over too early. The right home will be there when you are ready. I would start looking and be ready to place an offer as early as 6-8 months ahead of time. That should give you plenty of time to find the right one. I highly suggest that you hire an experienced, HONEST realtor to represent your side as a buyer before you are almost ready to start looking. I know many top agents all over middle TN that I would be glad to refer you to. I have worked with them and know who is for real!

I appreciate any and all information that you can provide! Thanks & HAPPY NEW YEAR!

Happy New Year!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[sd2ca]

Vickie10essee, thank you for your input. Much appreciated!

I am actually thinking about flying out TN in the next few weeks to look at a couple of homes. I've been in contact with one realtor from the Gallatin area. They have offices in several communities. If you have any specific recommendations for an agent, please feel free to send me some names via DIRECT MESSAGE. I've not yet established a relationship other than a couple of phone calls and emails to him. I will need to be working with a realtor that is willing to show homes on Saturdays and Sundays.

Thanks again!

[DonCorleone]

Sending a DM now...

[ohiosgreat]

Hello...just wondering if you ended up purchasing anything...and how its going?
Considering a move to the same areas...and wondering what its like.....

[sd2ca]

Originally Posted by ohiosgreat

Hello...just wondering if you ended up purchasing anything...and how its going?
Considering a move to the same areas...and wondering what its like.....

We have not made a home purchase. We did make an offer on "the perfect place" about 2 months ago, and the owners accepted, but then had to cancel the contract because bank we were working with decided that they wouldn't make a loan on a manufactured home even though it was on a permanent foundation. So, I am still stuck here in CA. Until the home prices recover, it looks like I'll be stuck here for a long time.