Leander, best investment? (Austin, Nash, Fayetteville: real estate, loans, houses)

[centralaustinite]

If the OP's timeline is long, then clearly they should just buy the house that fits them best, Leander, Cedar Park, where ever would be fine. Buying in any subdivision that isn't fully built out however means that if you need to sell before the development is complete, you are competing with the developer, it is harder to find someone to buy your 2-3 year old resale house if they can go half a mile away and get new, people love new houses. And god forbid, if the market turns, the developers have much deeper pockets than any individual and can drop the price more deeply.

The way to mitigate this risk is to buy a house that doesn't have any unusual attributes and that isn't at the top or bottom of the price range for the area.

[kjkw]

Originally Posted by austin-steve

Do you mean "investment" in your lifestyle? Or economic return?

Steve

I mean economic. I don't want to be upside down for too long on a new build. We have been looking at some of the older areas but they seem to either be our of our price range, or don't have a neighborhood feel with kids etc...

I know it would be better investment to go more central but I just don't think it is the best option for the family. We have driven through the Balcones, Spicewood, Jollyville and even down through Mesa areas and I have looked online extensively but I really want to be in an area where my kids will make friends and be able to roam.
Thanks for your imput.

[kjkw]

Thanks for all who have taken the time to answer. We have lived in the area for almost 15 yrs and don't plan on going anywhere but I just always like to be cautious especially spending that kind of $!!! The market has just gone crazy.

Several of you have stated to stay in CP and while that would be our preference we just can't find a large single story and I am really sick of having stairs. Ideally this will be a house we can stay in for 15 or more years.

[mark311]

Originally Posted by kjkw

Several of you have stated to stay in CP and while that would be our preference we just can't find a large single story and I am really sick of having stairs. Ideally this will be a house we can stay in for 15 or more years.

Are they still building in Northwoods at Avery Ranch? They had a 3000 square foot single story. I think it was a David Weekly plan.

[riaelise]

Originally Posted by mark311

So that all makes sense in your situation. However, the OP is worried that their employers might want them to move and there is nothing that says the housing market couldn't take a dive in the next year or so. Being forced to sell a $650k home in Leander in a down market would be much worse than trying to sell a $450k house closer in. Both would result in significant losses (in addition to realtors' fees), but I think the loss would be greater in the more expensive home further out especially if it's priced for a jumbo loan.

Yeah, I can agree to an extent. BUT it really does depend on the neighborhood/area and what it has going for it, even in a downturn. If the OP buys a lot that has sweeping hill country views, he very well may find buyers (especially from out of state) who value that. I do agree that $650k, new construction in Leander can take longer to sell.

[kjkw]

Originally Posted by mark311

Are they still building in Northwoods at Avery Ranch? They had a 3000 square foot single story. I think it was a David Weekly plan.

The schools and lot size were not right for us.

[Antny12]

Only way I'd put $650k anywhere near downtown Austin or it's cities limits would be if I could turn around and sell it the very next day for double. Different strokes for different folks Leander is as nice as cedar park with damn near the same distance into austin if that's a concern. For most family's there is far more to in Leander or close to Leander then there is in austin.

[Antny12]

And In just the past 2 years alone the median listing price on houses has jumped $100k while the average days spent on the market has dropped an average of 20 days to 40. The house we bought 2 years ago we just appraised is now worth $50k more then it was when we bought it.

I can completely understand if someone wanted to buy it and sell it quickly that it would hurt while the community is still being built out however OP said it's a home they plan to be in for potentially 15 years then that's not an issue.

[mark311]

Originally Posted by Antny12

I can completely understand if someone wanted to buy it and sell it quickly that it would hurt while the community is still being built out however OP said it's a home they plan to be in for potentially 15 years then that's not an issue.

Yes, that information changed from the Op's original post which indicated there was a legitimate worry of job relocation.

[Covfefe.]

Houses have gone up a minimum of 50k everywhere in Austin. Some centrally located houses have gone up 200k or more. THAT was a good investment.