Southwest vs South Austin (Buda, Miami: wood floors, apartment, lease)

[austinbound44]

Hi everyone ,

We just moved here a month ago from Miami and this forum has been a wealth of information for us. We are currently renting an apartment in Southwest Austin (close to Circle C off Slaughter and Mopac). We love this neighborhood...the location is so convenient to downtown, shops, great restaurants and it seems to have a family feel that we are comfortable raising our kids in. And from what i've read, Circle C seems to be a great place to live (at least for our tastes) and has excellent schools. We have a 3 yr old daughter, my husband works a little north of the city and I currently work from home. We are also planning to have another baby in the near future. We have a 6 month lease and plan to buy a home after the 6 months.

We've been searching online for a few days and seems like most 4 bed/2 bath homes in the 78749 and 78739 zips are $280k and up. We can afford up to $400k but with the planning for another child soon, I am on the fence on whether we should go and buy now in the Circle C area, or go South and get something cheaper so I don't have to be pressured to go back to work so soon after having a child b/c we have a mortgage that depends on a dual income. By south, I mean close to I-35, like Buda.

I figured, we could buy a cheaper home in Buda (for like $150k) and then when the kids are a little older and ready for school (maybe 3-5 years later), we can buy in Circle C.

My question is, do you think if I buy later, homes in SW Austin will be way more expensive than they are now? And will homes in Buda not appreciate in the same way so I will potentially stay flat or go under on my investment when ready to sell? Should we buy in Circle C now or go cheaper in another part of town? Are there any other neighborhoods I should consider?

Sorry this is a long one! I appreciate any insight!

[janejanejanejanejane]

That area holds its value very well. It will only go up IMO. Also, you want to avoid the drive on 35 with every bone in your body. I would buy in Circle C with what you can afford, OR, I would spend these 6 months scouring the entire city looking for a house for you guys. If you need to extend your lease to find the perfect house, I would do that. Housing prices should not go up too much in this time, but this market is rather strong here in Austin. Not super strong, but the prices in the good areas are not as depressed as in other areas.

[hound 109]

Husband works "a little north" of the city? Not sure what this means.

Depending on where "a little north" is.....but if i was hubby, i wouldn't be interested in SW.....& I'd be PO'd if mrs. hound was looking at a track box in buda.

[centralaustinite]

Buda house (depending on specifics) is unlikely to appreciate much and may actually decline in value if in three to five a developer is busy building new homes close to your price point.

Buy what you can afford in established Circle C, you can move up in the same area later if needed. And double check the commute . . . what seems manageable at first can become intolerable as a permanent condition.

[Raskolnikov]

I would stick with Circle C, or Western Oaks, or Legend Oaks area. The I-35 commute will cause your husband blood pressure problems, keep him away from the family for long hours, and the house in Buda won't appreciate much if at all. You should stick to southwest Austin IMO. If he works north of the city I wouldn't go any further south or southwest than Circle C.

[Raskolnikov]

Or honestly, anywhere north of Circle C. Westcreek is also a decent neighborhood that is even closer in than Circle C. Older houses, though, but it feeds into Patton which is a good school. Mills and Kiker, Oak Hill Elem. and Clayton are also great schools IMO so you should stick with a school that feeds into one of these.

[Austin97]

Originally Posted by austinbound44

Hi everyone ,

We just moved here a month ago from Miami and this forum has been a wealth of information for us. We are currently renting an apartment in Southwest Austin (close to Circle C off Slaughter and Mopac). We love this neighborhood...the location is so convenient to downtown, shops, great restaurants and it seems to have a family feel that we are comfortable raising our kids in. And from what i've read, Circle C seems to be a great place to live (at least for our tastes) and has excellent schools. We have a 3 yr old daughter, my husband works a little north of the city and I currently work from home. We are also planning to have another baby in the near future. We have a 6 month lease and plan to buy a home after the 6 months.

We've been searching online for a few days and seems like most 4 bed/2 bath homes in the 78749 and 78739 zips are $280k and up. We can afford up to $400k but with the planning for another child soon, I am on the fence on whether we should go and buy now in the Circle C area, or go South and get something cheaper so I don't have to be pressured to go back to work so soon after having a child b/c we have a mortgage that depends on a dual income. By south, I mean close to I-35, like Buda.

I figured, we could buy a cheaper home in Buda (for like $150k) and then when the kids are a little older and ready for school (maybe 3-5 years later), we can buy in Circle C.

My question is, do you think if I buy later, homes in SW Austin will be way more expensive than they are now? And will homes in Buda not appreciate in the same way so I will potentially stay flat or go under on my investment when ready to sell? Should we buy in Circle C now or go cheaper in another part of town? Are there any other neighborhoods I should consider?

Sorry this is a long one! I appreciate any insight!

3-5 years is too short a time, sales/moving costs will put you under water. Location is way more important I would buy where I want to be.

Im seeing houses in circle c for 200K ish. I would buy the least expensive then upgrade later if I wanted to

use trulia map view to visualize availability better. there is a 2100 sq ft on la naranja for 205k for example

[Trainwreck20]

Ahh, the great balancing priorities game.
- do you have a set sq. footage you are looking for? Or can you live with an older 4/2? The 4/2s around us are all asking around 280k and are generally around 2,400 sf. I do not know the selling price currently, but they are selling quickly. The one behind us just went on the market at 285 and sold in days. They had just put in new wood floors and new carpet, as well as granite counters, and it looked very nice.
- I love how the area in SW Austin is developing, but I don't have to drive very far to work. In the last 2.5 years that I have owned my car, I have put just over 15,000 miles on it. My wife's has more (it is the van for toting the kids), but her actual commute is even shorter. All that said, I would never consider commuting across town again (as I did some years ago). As a working dad, he will only have a short window each day to really see the kids, and I would personally hate spending almost all that time in a car instead. There are some areas in NW and N Austin that might cut that commute way down.

[austin-steve]

Originally Posted by austinbound44

Hi everyone ,
...
We can afford up to $400k but with the planning for another child soon, I am on the fence on whether we should go and buy now in the Circle C area, or go South and get something cheaper so I don't have to be pressured to go back to work so soon after having a child b/c we have a mortgage that depends on a dual income. By south, I mean close to I-35, like Buda.

I'd buy in Circle C, without question. The combination of a) flat prices, b) extremely low interest rates and c) great schools for a growing family makes it a good choice. Also, If you're qualified for up to $400K you'll be closer in demographics to your new neighbors and you'll find far more stay at home moms with whom relationships and play dates can be arranged.

If you're worried about budget, then be frugal in other ways, such as vehicle expenses and eating out. I'd sacrifice those other lifestyle goodies before giving up on a great neighborhood to raise kids.

Steve

[achtungpv]

There's nothing in Buda. You'll spend your life in a car going into Austin. Your gas costs will end up filling the gap in what you save in house price not to mention if you value your time you spend driving everywhere.