Austin, Texas is one of the few places in the U.S that have witnessed a great influx of people either checking to buy houses of their own or to rent. The reasons for the increased choice of houses in Austin, Texas for renting or buying, are numerous and stand to justify this massive quest for the choice of this city for dwelling.
Whether you are planning to buy a new or existing house or to rent an apartment in Texas, you need some tips to help guide you properly in your quest.
In this article, we shall take you through all the information, steps and tips you need to make an incredible purchase decision. These tips will guide you both as one buying for the first time, or one who is an experienced homeowner. Before that, however, let us briefly consider why Austin Texas is such a beautiful place to seek a dwelling by buying a house or renting there.
Why choose Austin, Texas for buying or renting a house
One of the very first signs that something good is happening in Austin Texas, is the increase in its population in the past few years. In the past few years, Austin has grown by nearly 35 percent, presently hosting a population of about million people. While this may not be a reason enough to buy a house or rent one in Austin, Texas, it definitely points to the fact that there is something good happening there.
Renting or buying a house in Austin can be a good decision for the following reasons too:
Austin Texas has great weather.
Although the summers can be really hot, that makes having to deal with cold weather almost impossible throughout the year. Austin Texas is, therefore, a destination point for all warm temperature seekers through the four seasons.
Austin has enough beautiful art scenes
Austin Texas houses some beautiful music, food and underground art movements. This can be good for people interested in being abreast with current events and trends in the entertainment sector.
Austin Texas has the thriving business environment
Austin Texas is one of the very few cities outside Silicon Valley, whose start-up boast is just incredible and vibrant in America. New and great businesses are increasingly launching in Austin or planning to do so. This entrepreneurial vibe makes Austin Texas the ideal environment for great entrepreneurs and workers who are hoping to find employment in promising businesses.
Austin Texas provides outdoor beauty
Even if you are not an art or music lover, Austin Texas still got you covered with lots and lots of its outdoor beauties. With the fresh air, its closeness to nice waterways and beautiful hiking and parks, Austin Texas is such a city that always has something catchy for everyone, and will hardly ever regret renting or buying your house here.
Best tips to buying or renting a house in Austin Texas.
Whether you are looking to purchase your new house or rent one in Austin Texas, the following tips are recommended for you as a guide to making your best choice.
Be sure of What You Want
Making a conclusion as to buying or renting a house or having the need to do so us one and knowing exactly what you want to buy or rent is another. Of course, Austin Texas is one city you can trust with its diversity. If you throw your net wide and become unsure of what you want, you will most probably end with the wrong decision. So, you first have to decide whether you are renting or buying, whether it is an apartment, single-family home on a large lot? All these form part of the core defining tips that will help you in your decision to get exactly what you want.
What’s your budget
You must check your credit and mortgage capacity and know-how far that would let you go. If you can get this sorted out you will better be placed to tell the amount you can actually spend on mortgage services in the following months. This consideration ought to take into account your taxes, insurance and premium. Determine what percentage of your take-home you can comfortably give for the purchase or rent. An average of 25 to 30 percent of your monthly earnings is always advised so as to make your proposal feasible for the estate agents in question.
Decide your target area or location
Deciding your target area or location will be worked out by the reason for which you need the house in Austin Texas. Answering some questions may serve to guide you better.
For instance, do you need a house in a good suburban neighborhood so your kids can have an elaborate place to play or are you considering otherwise?
For renting or buying houses in Austin Texas, considering the following areas in relation to what you really want to do in the city, might be a good tip.
Southwest Austin – Buda
If you need a small town with lots of value and a Texas country feel, then Buda is an area to consider for your rent or house purchase. Located some 15 miles southwest of downtown Austin, Buda is one of the city’s fastest-growing areas. If you are expecting to own a house in Buda, then you should be up with a budget range of $230,000 to $390,000.
North Austin – Round Rock
If you are a sports lover, Round Rock is a nice area to be. It is the “Sports Capital of Texas”, housing many complex sports facilities. It is one of the safest cities in Texas with a distance of 20 miles north of downtown Austin. One major thing to be wary about in your choice of Round Rock is that the workday commute may not be the best.
North Austin – Leander
Depending on your target purchase choice of house, Leander has a current median purchase price running around $180,700 and a distance of 30 minutes from Austin. The town has some traffic control services such as MetroRail Red Line, which actually helps you beat traffic so you don’t have to worry about being stuck in traffic.
Northeast Austin – Pflugerville
If you are looking to buy or rent in a heavily diverse town within the northeast of Austin, then Pflugerville is the answer. The town has about twenty-eight developed parks and about forty miles of trail within the city limits.
Other nice areas you may consider if you want to rent or buy your house in Austin include Barton Hills, Mueller, Travis County, East Austin, Windsor Park and Downtown Austin.
Consider the Commute time
Another important tip to consider if you want to rent or buy a house in Austin is the commute time to your place of work, as well as the traffic. Of course, the last thing you would like to do is spend time, say an hour of your time, waiting or being trapped in traffic. Thus, it is advisable that you do your research very well about your choice of area and take into account the commute time as well as the nature of traffic in your target area.
Link up with the right agent
If you are going to buy or rent a house in Austin Texas, one of the very important tips you will need to know and embrace is getting or finding the right agent. The right Austin real estate agent will always make a huge difference. But let us also consider that you don’t stay or live here in Austin already. Perhaps you are transitioning or migrating from a different city or even country, yet want to rent or buy a house in Austin. Finding the right agent might become a little difficult, but there are always tips that will help you surmount that difficulty.
In your search, know that an agent who has years of experience and who possesses a great understanding of the market with great negotiation skills is always the best, and will always save your time. Good agents will Introduce you to good neighborhoods as well as help you make competitive offers.
The following tips or questions will guide you towards getting the right agent that will serve you best in your quest to rent or buy a house in Austin Texas.
- Get to know by asking them how long they have been operating in the real estate market. New agents are more likely to have your time but may have fewer contacts, less market experience and less access to wide mentorship.
- Get to know the neighborhood areas and property type the agent handles. If their base does not tally with your interest, then you surely have to move to another.
- Ask the agent to provide you with a list of their home purchasing business resources. With the list of referring vendors or mortgage vendors provided, proceed to ask them if they are being compensated by some vendors for their referrals or doing so to their mortgage lenders. This will enable you to find out if you are unknowingly paying premium fees for their services, an act that contravenes the RESPA laws.
- Ensure you are dealing with a licensed estate agent. You can do this by simply google-checking the agent’s information as well as status. Equally, take notice of their customer reviews.
- Be sure to ask from the beginning about the estate fees of the agent with whom you are dealing. While new agents will competitively charge low, older agents will go higher, but in all, it usually runs between 1% to 4%.
- Get to know the company’s cancellation policy of the agent you are dealing with. This will enable you to know the conditions and terms of pulling out from the deal at any point you discover that you have been dealing with an agent that doesn’t really serve your interest.
Buying or renting a home everywhere else but more particularly in Austin, Texas,is one of the biggest financial investments and decisions you will make. In making this financial decision and investment, it is advisable that you follow some tips so you do not end up regretting anything. In this article, we have provided you with such tips, ranging from the knowledge of your budget, to highlights on some areas and their attributes, down to the kind of agents you ought to look out for. We hope you found these tips helpful.