What You Need To Know Before Buying A House In Austin, Texas
by Brad Pauly
on Wednesday, February 2nd, 2022 at 5:08pm.
Thinking about buying a house in Austin? Whether you’re relocating due to employment, following a romantic partner, escaping frigid winters, or are retiring (or simply want to buy–not rent–an Austin home) there are dozens of good reasons to consider buying a home in Austin. Of course, that’s no excuse not to explore your options, do your research, and to know what you should consider before you do.
With that in mind, here are a few things to consider before buying a house in Austin:
The Austin Housing Market is Booming
It’s true: Austin’s housing market is booming and few would disagree that buying a house in Austin isn’t a smart move. With an average annual appreciation rate of 7.28% (and a 20%+ appreciation rate for the past 2-3 years), it’s safe to say that buying a house in Austin can certainly pay off. Paired with its relative affordability, high job growth, and many great perks and attractions—buying a house in Austin is all but guaranteed to be a safe financial bet.
Is it better to rent or buy in Austin?
When you look at the gross costs of buying a home in Austin, as well as your investment potential, it’s significantly better to buy an Austin home than to rent one, especially if you plan to live here long term. If you think of your home as an investment (and you should) then buying one in Austin is certainly posed to be a good one.
Outside of the cost of buying a home in Austin, many different lifestyles exist within each part of town as well. Downtown Austin is known as a trendy, eclectic mix of live music venues, bars, and restaurants, paired with running trails adjacent to its ever popular Lady Bird Lake. North Austin is more low-key, offering sprawling residential areas with less commotion (great for working professionals), and East Austin (with its historic roots) is a favorite among those who want to get out of town. Anything South of Lady Bird Lake is considered South Austin, which is known for its cozy coffee bars, food trucks, and dive bars, among other eclectic attractions.
Thinking about living in the suburbs? Keep in mind that the vibe outside of the city is slightly different than inside it. Whereas Austin proper is mainly made up of college students, funky Austinites, tech workers, and celebrities (quite an eclectic bunch) you’ll tend to find that those who live outside the city are less eccentric and more conservative. You can work with an Austin realtor to suggest different parts of town that you may like to live depending on your lifestyle
There Are Different Types of Homes in Austin
When it comes to buying a house in Austin, you’ll also want to decide on what style of home you’ll want, based on Austin’s many different home types. Austin has roughly five different types of homes to consider:
Queen Anne Homes - These architectural classics date back the late 19th century, and feature gables, balustrades, eaves, and wrap around front porches. You’ll find many of these types of homes in Austin’s older neighborhoods like Hyde Park.
Craftsman Bungalows - A descendant of the American Victorian, these early 20th-century style homes feature open floor plans (all on one level) and simple no-nonsense front porches.
Contemporary Homes - Austin’s neighborhoods feature many different types of modern, contemporary homes with sculptural architecture, modern smart house elements (like solar heating) and wide windows that offer panoramic views. Find contemporary homes in Round Rock and Georgetown.
Townhomes - Austin’s single-family townhomes make up the majority of Austin’s home sales, with simple (affordable) architecture and access to local amenities like parks, restaurants, and gyms. You can find Austin townhomes all throughout Central and East Austin.
Mid-Rise Condos - Austin’s mid-rise condos are ideal for home buyers in search of an active urban lifestyle, little maintenance, and abundant amenities. With basic and luxury offerings available, you can find mid-rise complexes and condominiums in Austin’s Central locations—especially downtown.
Austin is Known for More Than Being Weird
While Austin’s motto is indeed to “keep it weird,” there’s also plenty more the city is known for. Here’s a few to keep in mind when buying a home in Austin:
Austin is known for its food-scene
Like ribs? How about a slab melt-in-your-mouth brisket paired with a house-made beer? Breakfast tacos anyone? Austin is well known as being one of the best places to get a bite to eat—especially if in the mood for tacos. If you’re a foodie (or simply a food enthusiast) you’ll find yourself right at home.
Austin has great schools
Have kids? Are they going to school? Austin has some of the best school districts in the state of Texas, as well as some of the best colleges in the nation. You can work with an Austin realtor to find an house that’s nearby one of them.
Austinites are a friendly bunch
Austin doesn’t disappoint when it comes to Southern Hospitality. You’ll find that many locals are proud to call the city home, and just as keen to help new residents explore it. Ask for recommendations (or directions) and you’ll be met with friendly faces eager to share what they know.
Get Help Finding A House To Buy in Austin Today
As we’ve seen, Austin has plenty of offer for those looking to purchase a home. With its booming economy, diverse landscape, and many great perks, there’s something for everyone to enjoy in the city. Of course, with so many unique places to live, styles of homes, and lifestyles and attractions to be found in each, there are many things to keep in mind before buying a house in Austin.
If you need help with buying a house in Austin, or can’t decide on what house to buy, check out our Austin homes for sale search tool or contact us today. We’ll get you in touch with one of our experienced Austin realtors who can help you find the perfect home for you.