Condo or house in Green Hills? Your monthly costs can look very different even when the purchase price feels similar. You want a home that fits your lifestyle and a budget you can comfortably carry month after month. In this guide, you’ll see how HOA dues, taxes, insurance, utilities, and maintenance stack up in Green Hills so you can run a clean side‑by‑side comparison. Let’s dive in.
Why carry costs matter in Green Hills
Green Hills has a wide price range, which means property taxes, insurance, and maintenance can vary a lot by address and home type. In Davidson County, residential property is assessed at 25 percent of market value, and the combined tax rate has recently been reported around $2.81 per $100 of assessed value. You calculate your bill using the county’s formula and current certified rate. You can confirm both on the Assessor’s site and run quick estimates with the county’s calculator at the Metro Assessor office’s tax page.
Utility costs also move. Metro Water Services implemented a 2.6 percent rate increase effective January 1, 2025. Electricity in Green Hills is generally provided by Nashville Electric Service, which publishes residential rate schedules you can use to model usage. Trash for single‑family homes inside the Urban Services District is provided by Metro, while many multifamily properties use private haulers whose fees vary.
- See the Assessor’s calculator and rate basics: Davidson County tax rates and calculator
- Water/sewer update: 2025 Metro Water rate increase
- Electric rates: Nashville Electric Service residential rates
- Trash and recycling info: Metro Nashville Recycling and Trash
What makes up your monthly carry
Property taxes
Your tax bill is based on the county formula: assessed value equals market value times 25 percent, then multiplied by the certified tax rate per $100 of assessed value. The big driver is market value, not whether you own a condo or a house. Always check the parcel’s current assessed value and the latest rate before you budget. Use the county’s resource to run the math: tax rates and calculator.
HOA and condo association dues
HOA dues typically cover common‑area maintenance, management, exterior insurance on the building’s master policy, landscaping, and shared amenities. What is covered depends on your specific community. Review the budget, reserve study, and insurance summary to see what you are paying for. For a quick primer on how master policies work, see this overview of HOA insurance basics: What HOA insurance covers.
Insurance
- Houses: Homeowners (HO‑3) premiums in Tennessee often run in the multi‑thousand‑dollar range per year depending on coverage and the home itself. See statewide context here: Average Tennessee homeowners insurance costs.
- Condos: You typically carry an HO‑6 policy for interior finishes, contents, and liability. Your building’s master policy covers the structure and shared areas. HO‑6 costs are often lower than HO‑3 because you insure less of the structure, but required limits depend on the master policy type and deductibles.
Maintenance and capital repairs
For houses, a common rule of thumb is to budget about 1 percent of the home’s value per year for routine maintenance, with older homes sometimes needing more. That does not include big capital projects that can arise. Condos shift exterior and common‑system costs to the association, but you still budget for interior upkeep. Learn more about building a maintenance budget: Fannie Mae maintenance budget guidance.
Utilities and services
Electricity costs depend on home size and usage. NES posts its residential rate schedules to help you model bills: NES residential rates. Water and sewer charges can change with Metro decisions like the 2025 increase: Metro Water rate change. Single‑family homes inside the Urban Services District get Metro trash collection, while many condos rely on private haulers with separate fees: Metro trash and recycling.
Special assessments and reserve risk (condos)
If an association’s reserves are underfunded, owners can face special assessments for major projects. Review the reserve study, budget, and meeting minutes to understand upcoming work and whether reserves are adequate. For a buyer’s checklist on condo due diligence, see: What to know before you buy in an association.
Financing and resale considerations (condos)
Some loans have project‑level requirements for condos. Lenders may review owner‑occupancy rates, reserves, insurance, and any litigation. This can affect your loan options and timeline. Get clarity early: How to buy a condo and lender considerations.
Green Hills examples: what a month can look like
These examples are illustrative to show how line items flow. Use actual HOA budgets, parcel assessments, insurance quotes, and 12 months of utility bills for any real decision.
Scenario A: Condo example
Assumed purchase price: $450,000
- Property tax: assessed value 25 percent equals $112,500. At $2.81 per $100, that is about $3,161 per year, or about $263 per month. Source method: Davidson County calculator
- HO‑6 insurance: example around $473 per year, or about $39 per month. See Tennessee HO‑6 context: Condo insurance in Tennessee
- HOA dues: example $300 per month, depending on building age, amenities, and coverage.
- Interior maintenance: example $200 per month for unit upkeep.
- Utilities: example $160 per month for electric and water if not included in dues.
Approximate monthly total, excluding mortgage: about $962.
Notes: If your HOA includes some utilities, your out‑of‑pocket can drop. If reserves are low, budget for potential special assessments.
Scenario B: Single‑family house example
Assumed purchase price: $1,200,000
- Property tax: assessed value 25 percent equals $300,000. At $2.81 per $100, that is about $8,430 per year, or about $703 per month. Method: Davidson County calculator
- Homeowners insurance: example $3,000 per year, or about $250 per month. Context: Average Tennessee homeowners insurance costs
- HOA dues: many Green Hills houses have none or minimal dues. Use property‑specific data.
- Maintenance: 1 percent of value baseline equals about $12,000 per year, or $1,000 per month. Guidance: Fannie Mae maintenance budget
- Utilities and trash: example $350 per month based on home size and usage.
Approximate monthly total, excluding mortgage: about $2,303.
Bottom line: Houses usually carry higher taxes, insurance, utilities, and maintenance because of higher values and full responsibility for systems. Condos can lower direct maintenance and insurance but replace them with HOA dues and potential special assessments. The winner depends on the specific property and the health of the HOA.
Due diligence checklist
For condos
- Request the CC&Rs, bylaws, current budget, most recent financials, reserve study, and 12–24 months of meeting minutes. Use this buyer guide: What to know before you buy
- Review the master insurance declaration and see whether coverage is “bare walls” or “all‑in.” Confirm HO‑6 minimums and deductibles. Primer: What HOA insurance covers
- Check dues history, any special assessments, pending capital projects, and any litigation.
- Ask about owner‑occupancy and rental limits, which can affect financing.
For houses
- Get the age and condition of roof, HVAC, plumbing, electrical, foundation, and drainage. Budget using a 1 percent per year baseline and adjust for age and size. Reference: Maintenance budget guidance
- Pull parcel data for assessed value and confirm the current certified tax rate. Start here: Tax rates and calculator
For both
- Collect 12 months of utility bills to model summer and winter usage. NES rates: Residential rates
- Get early insurance quotes for the exact property and coverage needed.
How to choose the right fit
- Budget predictability: Prefer a set monthly fee and less surprise repairs? A well‑funded condo may suit you. Prefer full control and no board? A house may fit.
- Time and upkeep: If you want minimal exterior maintenance, a condo saves time. If you enjoy projects and yard space, a house can be rewarding.
- Building governance: Look for healthy reserves and transparent financials in any condo. Weak reserves increase special‑assessment risk.
- Long‑term plan: Think about how long you plan to hold the property, future renovations, and resale liquidity. Lender project rules can affect some condo buildings.
When you are ready to compare real properties, reach out. With boutique, concierge service and investor‑grade analysis, Sarah Butler will help you model true monthly costs, read HOA financials, and choose the Green Hills home that fits your life and budget.
FAQs
How do property taxes work in Davidson County?
- Your assessed value equals market value times 25 percent, then you multiply by the certified tax rate per $100 of assessed value to estimate the bill.
What does an HOA fee usually cover in Nashville condos?
- Dues commonly fund exterior insurance on the building’s master policy, landscaping, common‑area utilities, amenities, management, and reserves, but specifics vary by community.
Are condo special assessments a real risk in Green Hills?
- Yes, when reserves are low or major projects arise, boards can levy special assessments, so review the reserve study, budget, and recent meeting minutes.
Will utilities be higher in a Green Hills house than a condo?
- Often yes, because houses are larger and you pay all electric, water, sewer, and trash directly, while some condos include certain utilities in monthly dues.
How do lenders treat condo buildings in Nashville?
- Many lenders review condo projects for owner‑occupancy, reserves, insurance, and litigation, which can impact loan options and timelines for certain buildings.
