The Next Big Thing Is Already Here

4121 Franklin Rd, Nashville TN 37204

Nashville, TN

Well, I can’t believe it, but my partner and I have got an accepted offer on this amazingly grand estate, minutes from downtown Nashville: Franklin Pike. Before, I even walked it, I knew this was a project I wanted to do. It’s a 1970’s home that is just screaming to be updated in its’ modern splendor. It is 10,000 square feet, on 8 acres, and stretches out with a decent floorpan and extensive outdoor living space.

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And, it’s got it’s history. Besides apparently being the pad to party at in it’s day, it was the home of country music star, Tammy Wynette (Tammy Wynette Bio) before she passed away. It has all the original fixtures that she personally picked-out, right down to the gold chandelier lights and vanities.

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Right now, we have scheduled our home inspection as the first step to seeing what we are getting into. We have already gotten several contractors on site to give hard bid numbers on the major scopes: exterior flatwork, pool, finish carpentry, flooring, electrical, and HVAC. Since this house is so large, it is important to get these things bid out now, because changes in scope or material can be exponential to increasing the budget numbers. For example, if you decide to switch hardwood floor material from a product that is $4/sq. ft. to a product that is $9/sq. ft. on a home this size, that could increase the cost of your flooring by $45,000, just like that! My entire budget for the Mid-century Modern home is approximately $300,000, so in comparison, you can see how quickly the costs can add up on a home this size.

We have 14 days to sign-off contingencies, so stay tuned! We will use our time between closing to make sure that we can renovate this within our budget, and develop the specfic scope of work, otherwise known as “coming up with a plan”.

Development Takeaway: Do your homework before signing off contingencies, especially on a larger project where costs can increase greatly. Get a thorough home inspection to ensure you are covering all of your bases.

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