Spending 500k on a home in Hendersonville...Bad idea? (Gallatin: for sale, zoned)

[Decepticon]

The house has Hendersonville schools, but a Gallatin mailing address. We are not familiar with the area and wondered if this is a growing area that is going to have more upscale homes in it? Can any locals help us out? Is it common to rezone to the mailing address city when the other city out grows school capacity?

[denawilliams]

I do not know what subdivision you are referring so I can't give more specific information. However, it sounds like it's an area where Gallatin is near the Hendersonville line, and there has been quite a bit of growth lately in the area, more so on the Hendersonville side though. Sometimes if you're closer to a school in the next city over then you'll get zoned for it, but I am unsure of what this specific situation is.

As for spending that amount on a house, for any home you consider buying in any location, the longer you plan on being there the better. If you really like that area, the lake, the home, and you are comfortable with the commute to where you will work, and could see yourself there at least 5 years, then it is probably worth the investment. For some areas you might need to only be there at least 3 years to see some sort of return, but I would say 5 there specifically, because last year Sumner County was the only one right around Nashville that did not report an appreciation gain. But with all of the new development and commercial/retail they've added recently, that could definitely help. There has definitely been a buzz about Sumner County this year, but I think it's still a little early to tell what the whole year will be like.

[Decepticon]

Thanks you very much for your response. The agent that showed us the house had told us homes in the area had a appreciated 4% each year, for the past couple of years. She had said that the Hendersonville area had not seen any decrease in appreciation like the rest of the nation. My husband and I both thought that seemed very strange. She had said that homes just stay on the market longer...90 days, up from 30. The home we are looking at is only a couple of years old and had been marked up close to 50k from what they had paid.

[htmlfamily]

Originally Posted by Decepticon

Thanks you very much for your response. The agent that showed us the house had told us homes in the area had a appreciated 4% each year, for the past couple of years. She had said that the Hendersonville area had not seen any decrease in appreciation like the rest of the nation. My husband and I both thought that seemed very strange. She had said that homes just stay on the market longer...90 days, up from 30. The home we are looking at is only a couple of years old and had been marked up close to 50k from what they had paid.

Take your time and fimiliarize yourselves to the area. There are alot of very nice Homes for sale in Hendersonville right now--I don't think many have sold for the past year. And for me Hendersonville is more upscale than a bunch of hi-end homes built on farmland in the middle of nowhere in Galitan. There are some very nice Neighborhoods off New Shackle Road and Long Hollow in the 500's and less that are very nice and close to shopping in the new Indian Lakes (outdoor) Mall. I am a Hendersonville new home seeker myself, So best of luck!