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How to Afford Austin: Secret to Living Cheaper in Hip Neighborhoods

It’s no secret that Austin is the coolest city in Texas and one of the hippest in the U.S.  Forbes (1) consistently rates Austin in the top 5 places to live and U.S. News and World Report (2) has Austin listed as the number one place to live for the past two years. With our awesome outdoor living, great weather and unbeatable BBQ (plus so much more), it makes total sense. It’s such a great place that people are moving here in record numbers. Austin metro area averages 150 new residents a day- that’s a lot of people for our medium-sized city!

If you’ve been looking at buying a house, you know that the housing market here has gotten expensive and competitive. Even with the recent construction boom in the past few years, Austin is having a hard time keeping up with all the demand. With the market making it harder than ever to buy that single family home here in Austin, how are people supposed to be able to move to and live in great neighborhoods? The answer is simple: condos, townhouses, and A/B condo units. 

Condos and their similar siblings, townhouses and A/B units are perfect for expensive markets like Austin because it allows more people to live in the cool and hip areas at reasonable prices. Gone are the days when condos were filled with retirees and divorced dads – buyers with families and pets are now viewing them as viable short and long term ways to enter the market. Condos have always been a part of most Austin neighborhoods and will be even more so in the future, with builders continuing to build more and more as land in Austin continues to climb in price and inventory continues to decrease. 

So why does it make sense for you to buy a condo, townhouse, or A/B unit  in Austin? Here are just a few reasons: 

  1. We’ve been talking about affordability this whole article and with price per square foot rising to match areas in southern California in some neighborhoods, it’s a cost-effective way to get into the neighborhoods you want without having to be house-poor or wait a decade to save up. As the market continues to rise, it makes it harder and harder for first time home buyers to enter and buy their first property. Buying a condo or A/B unit means that you can buy a property much earlier and in a neighborhood you actually want to live in! 
  2. Many of the annoying home maintenance issues are taken care for you making it a great way to ease into home buying or take a break from those Saturdays spent working on that never-ending house or yard projects. Less time working on the house means more time enjoying what our great city has to offer!
  3. You can find the situation that works best for you. Condos, townhouses and A/B units can be very diverse in their amenities, location, and style so you can live in a property that best fits your needs. Want a turn-key place that makes traveling the world easy?- Look into a condo. In love with the row houses in London or SF?- A townhouse might be perfect. And what about those of you who want a small yard or a property that has the look of a more traditional house? A/B units are now being built in many Austin neighborhoods and are becoming more and more popular. 

Interested in learning more about condos, townhouses, or A/B units here in Austin? Check out our quick guide in the menu above or fill out the form below for contact from one of our Austin condo experts!