The latest demographics numbers that we’ve read state that there are over 150 people moving to the greater Austin area every single day. That’s more than 6 people per hour, every single day, 24 hours a day. With all those people moving here, real estate agents have been busy helping these clients buy and rent homes all around Austin. It begs the questions: does it make more sense for these people to be buying or renting?
Of course it depends on your situation, and how long you intend on living in Austin. It also depends on the neighborhood, because not all Austin areas are priced attractively for buyers versus renters. But some definitely are.
Take a look at our listing in Pflugerville at 17515 Dashwood Creek for example. This attractively-priced home is in move-in condition, and is only minutes north of downtown Austin. The buyer of this home, with a 30-year loan with only 3.5% down and a 5% interest rate, would only have to pay around $1200 per month, including principal, interest, taxes, insurance and HOA! A renter would be hard-pressed to find a home as nice as this one to rent for only $1200.
There are many examples of neighborhoods with compelling cases for newcomers to go ahead and purchase a home in, while interest rates are still low and home prices are at attractive levels.
Contact us today if you need help making the decision to buy or rent your next Austin area home.