Buying a house in Austin: how to find an affordable property

Now that CNN has officially named Austin one of the Best Places to Live in the US, it has become a hotspot for young singles and families alike. Why is Austin so popular? It has an impressive job growth rate of 15.53% and a median affordable home price of $198,083.

Of course, house prices can fluctuate in either direction. You may be able to find an inexpensive gem in a quiet neighborhood of the city, or you could splurge on a larger family home in an up-and-coming suburb.

For most families, purchasing affordable homes is key. When buying a home in Austin, consider these helpful guidelines for choosing the right home at the lowest price:

• Rent instead of buying. If you’re moving to Austin for the first time, you’ll do well if you start with a rental house, condo, or apartment. Even if you’re moving in with a family, Austin’s estimated median rent of $1,102 per month is affordable. Renting a home before you buy it will give you the opportunity to learn the lay of the land and choose the best neighborhood with good schools for your children.

If you’re single looking to buy in Austin, renting will give you the opportunity to find a neighborhood that’s a good fit firsthand instead of searching online. From there, he can refine his search to choose a home in his price range without feeling pressured to buy before moving.

• Look at foreclosures. If you’re ready to buy a property, it may be time to start at the bottom of the barrel with foreclosures in the neighborhood of your choice. Of course, it’s important to keep in mind that a foreclosed property may need repairs.

If you are comfortable making repairs to your home, consider an affordable foreclosure that may provide you with a bargain. A foreclosed property is ideal if it is in an attractive neighborhood where homes typically sell for much higher prices.

• Be flexible on your location. While you may be set on searching for a beautiful neighborhood in Southwest Austin, there is a chance that homes are not in your price range. If you’re flexible about where you live in the city, a neighborhood that’s a little off the beaten path in Pflugerville could save you thousands of dollars on your mortgage while giving you access to all Austin has to offer.

Round Rock is another alternative suburban location with easy access to shops and restaurants, also named the 13th safest city in America. Of course, the commute to work can be exhausting, so it’s important to balance choosing your neighborhood with where you work.

Finding the perfect home is never easy, but with the guidelines listed above, you can make an informed decision when buying property in the Austin area. It is also recommended to prepare for your move in advance by visiting the city, booking local Austin moving companies, and applying for jobs nearby.