Buying a property requires a great deal of research and information to be sure your investment is safe for years to come. When it comes to real estate, the Central Texas area is the most desirable place to own a property in the country. Famous for its diverse possibilities when it comes to housing, education, and great quality of life, investing in the real estate of Texas cities is always a smart choice, especially when it comes to Austin. Twenty years ago, owning a property in this quiet college town was very affordable and easy. However, for the past 10 years, South Austin real estate has been constantly growing when it comes to population and the city territory.
Rapidly expanding economic industry
The Texas industry had is “big boom” in the past few years, especially when it comes to the economy. It is a well-known hub destination for corporate headquarters and support facilities. And with it, other industries like advanced manufacturing, data management, digital media tech, financial services, clean technology, life sciences, and space technologies are booming in the Austin area!
Companies like Tesla, Google, and Oracle are relocating here, and therefore, many young entrepreneurs are moving here as well. The constant need for talented professionals made the housing demand very high.
Real estate can be quite competitive
When it comes t the South Austin real estate market, over 50% of offers turn to a “bidding war” amongst buyers. And since you can’t read minds and are unable to know how much the other bidders will offer, make sure to offer the highest price you are planning to, if you think you’ve found the real deal. But, according to heavenlymove.com, there is a way to attain the house of your dreams.
While giving the offer make sure to make it personal, by writing a note to the seller and explaining how much you like the property. It’s a long shot, and most business people don’t care about the sentiment, but it will help sellers to remember your offer. That way, if you are among the top bidders, you might win after all if you’ve made your note memorable.
South Austin real estate market hasn’t been afflicted by the pandemic
Unlike many real estate industries that have suffered greatly in the past year and a half, when it comes to Austin, the sales went over the roof in 2020. The numbers of sold homes were higher than in 2019, while over 40,000 homes have gained their owners last year. Housing in Greater Austin Area became quite in, with median home prices going up to $500,000 in 2021! The reason for this might be the fact Austin is home to many important industry hubs.
Therefore, instead of cutting jobs like most of the companies did during the world pandemic that way caused by Covid-19, Austin actually made over 11,000 jobs opening in 2020. Still, not only Austin had found a way to thrive despite the trying time we’ve all been going through in the past year. A lot of young professionals and families have moved to San Antonio as well, one of the fastest-growing cities in the country.
Where to start your search?
As we know, deciding on housing investment is not an easy decision. You will need to set up a budget before even considering the location. Since location very often dictates the median house prices, make sure to chose the right neighborhood to start the search. When it comes to the Greater Austin area, South Austin real estate offers some great housing options. And the best part is, these neighborhoods have relatively affordable median house prices:
- Parkwood, $332,450
- Texas Oaks, $335,000
- Southland Oaks, $480,000
- Maple Run, $387,000
- Olympic Heights, $320,000
- Shiloh, $375,000
- Hillcrest, $342,500
Each of these neighborhoods can provide some great housing options when it comes to investing in Texas real estate. Also, this area is known for its amazing moving service. For a free moving estimate, reach out to specialists in the area, to be sure your relocation goes smoothly.
Sometimes it can be hard to get the seller to pay your closing costs in
It’s never easy having sellers pay the closing costs when it comes to buying a property. This usually depends on different factors and locations. Looking for a property that’s been on a market for some time (at least 40 days), might be the way. The longer house in South Austin is on the market, the eager the owner is to sell it.
It is a great idea to invest in South Austin real estate
If you ever considered investing in real estate in Austin, the time is now. The interest rates are being as low as they can be. Therefore, it’s a good idea to take advantage of low mortgage rates. Houses here don’t stay long on the market, and they are usually sold within a couple of weeks. One of the reasons for the city’s low housing inventory is the fact that a bunch of zoning regulations, permits, and other issues are limiting the supply of new property on the market.
Therefore, complicated building factors and high demand for new housing, make South Austin’s real estate price increase. However, owning a house in Texas is totally worth the trouble to get it. The Lone Star State has some amazing places whether it comes to benefits for raising a family or starting a new business.
Owning a property in the Austin city suburbs, or any other amazing cities in Texas is a great decision. The costs of living and high-paying jobs the thriving industries offer, make the Texas cities perfect places to live in. Such benefits make cities grow fast while attracting many important investors. And not only that!
Texas is one of seven US countries without state income taxes! Taking into consideration all these factors, but also other social perks when it comes to living here, you might want to invest in South Austin real estate on time.