The average cost to build a house in Tennessee varies depending on factors such as location, size, and features. However, according to the Tennessee Housing Development Agency (THDA), the average cost to build a single-family home in the state is approximately $150-$200 per square foot. This cost includes materials, labor, and permitting fees.
Government Agencies Involved in Housing: Your Allies in Homeownership
Navigating the housing market can be a daunting task, but you don’t have to go it alone! There are several government agencies dedicated to helping Tennesseans like you achieve their homeownership dreams.
Tennessee Housing Development Agency (THDA)
Picture this: THDA as your friendly neighborhood housing fairy godmother, waving her magic wand to create affordable housing opportunities. From low-down payment loans to down payment assistance programs, they’ve got the keys to unlock the door to homeownership.
Federal Housing Administration (FHA)
Meet the FHA, the government’s mortgage insurance wizard. They’re backing you up with loans that require a lower down payment and more flexible credit requirements. So, even if your credit history isn’t perfect, the FHA can still make your homeownership dreams a reality.
US Department of Housing and Urban Development (HUD)
HUD is the housing superhero of the government. They’re fighting crime (housing discrimination) and supporting vulnerable communities through a wide range of programs. Whether it’s fair housing counseling or rental assistance, HUD is there to keep Tennesseans safe and secure in their homes.
Real Estate Industry Organizations: Your Buddies in the Housing Hustle
When it comes to the real estate rodeo, there are a few trusty sheriffs who keep the horses in line. Enter National Association of Realtors (NAR) and Tennessee Association of Realtors (TAR), your go-to pals for all things house-related.
NAR is like the big boss of the real estate world. With its boots firmly planted in Chicago, it’s the voice of over 1.4 million brokers, agents, and allies who make up the backbone of the industry. They’re all about protecting the rights of homeowners and making sure the buying and selling process is as smooth as a freshly-oiled saddle.
Closer to home, TAR is your Tennessee-based partner in the property posse. These guys are like the local sheriffs, fighting tooth and nail to protect the interests of their members and make sure the housing landscape in Tennessee is fair, ethical, and accessible to all.
So, there you have it, folks! When you’re navigating the ups and downs of the real estate market, don’t hesitate to saddle up with these industry organizations. They’ll be your trusty sidekicks, offering guidance, support, and a friendly “yee-haw” along the way.