Looking to buy house under 150K -- any hot areas? (Austin: real estate, housing)

[atlanta hope]

I'd focus on condos -- there are quite a few around UT. Any houses near UT would be major fixer-uppers and I don't think they would be very close to UT.

See for yourself about what areas you think are safe...

Here's a link to crime data in Austin: City of Austin - Crime Information

See where sex offenders live:
National Sex Offender Registry

[claudelle]

What about the neighborhoods that are west of I-35, east of MO-PAC, north of 183 and south of Parmer (734)?? Does anyone know anything about this area?

Does The Domain have an impact on this area...for bad or good??

[Jenbar]

We would like to keep the costs under 150K
moving to Austin to attend a 5-6 year graduate school program.
they are not the "fixer-upper" type people; no ability with power tools

Honestly, given these comments and the state of the national market right now (not just real estate, but economy and job market too) - I think renting IS your smartest option right now.

Find them a great, funky rental in town - close to it all. When they are done with their program, and make the decision to stay or move on (they will probably want to stay) see what the market is doing then, what they are making in new jobs, etc and buy at that time.

[mark311]

If I was in a 5 year Graduate School program at UT, then I would want to be as close to campus as possible. Parking on campus can be very difficult. They would probably qualify for an employee parking pass as Grad Students/Employees, but most of those spots fill up before 7:30AM. They will then need to park on the East side of I-35 in the Student lots and jump on a bus to campus anyway.

My guess is that they'll be further away from campus in a $150K house than they would want to be. I would rather rent a place in the Hyde Park area or another surrounding area that's close enough to campus to walk or ride a bike, but still not right on campus with all the undergrads. If they are both going to be at UT, then I would think this would be a must. Also, remember to factor in the "higher than other States" property taxes at 2%+. Just a thought.

If you must buy, then a condo would be the way to go in my opinion. There aren't any areas with $150K houses close enough to UT that I would want to live in. Anywhere that does have them in a nice area would not be a fun commute for a Grad Student that has to work crazy hours and go to classes as well.

[austinalice]

Originally Posted by claudelle

My son and his bride are moving to Austin to attend a 5-6 year graduate school program. I think buying a small house makes more sense than paying rent for that time period. I haven't started working with a realtor yet. Was hoping you all could tell me what areas of town we should start looking in.

Points of consideration would be:

1. ease of commute to UT
2. safety of neighborhood
3. resale
4. they are not the "fixer-upper" type people; no ability with power tools

We would like to keep the costs under 150K. They were told by an apt. locator to stay west of I-35 and avoid the south side. I assume this advice applied only to apartment buildings, but since I haven't been in Austin in 30 years, I don't know. Why would a professional tell them this???

Appreciate any and all comments.

You're joking, right? Not to be mean, but you're not going to find anything within a 30 minute drive of UT in that range. Tell them to find an apartment (if they want to be anywhere near UT and in a safe neighborhood, they should be prepared to pay at least $700 for a one bedroom) for a few years and save their money. The Austin house market sucks for young professionals or students.

[McDavis]

You could find few a small houses for around 150K in Gracywoods/Quail Hollow. That is around a 30 minute drive to campus. I rented in that neighborhood part of my senior year at UT and drove down each day. Parking was quite difficult and that was 10 years ago. The houses out there were mostly built in the early 80's and look it even if they have been redone on the inside.

That being said, you miss out on a lot of the UT vibe living that far away from campus. Being a Texas Ex, I think that the "UT experience" was as valuable as any formal classes I took. I do second the idea of renting in Hyde Park. I also really enjoyed living on Enfield/15th St (east of Mopac). There were some funky/cool older apartment around the West Lynn area, and it was a UT shuttle route which optimal. It was also a cheap cab ride to and from the 6th and 4th Streets which is as much of the "UT Experience" as anything.

[atxcio]

I'd second the idea of a condo. Unbelievably, there are downtown condos available for under $150K in older buildings! These are within biking/walking distance or a short bus ride to UT... they are not selling real well right now for some reason (I think it's because most of the potential buyers are trying to get into the new buildings), but once things settle down I doubt you will be able to ever touch downtown for $150K again.

Search zip code 78701 for less than $150K in austinhomesearch.com and you will see a few of the bargains.

[jenkirk]

If you want a short commute, I would suggest a new home in Manor. I know there are several graduate students living in Presidential Meadows out there because it is such an easy commute to the University. In 5 or 6 years, you could turn it into an investment/rental property.

[austin_momma]

You might want to consider short sales/foreclosures in Manor/Elgin area, homes that are within 4 years old.

If you don't mind condos, and since you mentioned ease of commute, there are these condos off of AW Grimes in Round Rock which is just off of Hwy 45 and it is easy to hop onto I-35. The Retreat condos are brand new luxury condos that start at $119,500 and have a pool, includes granite, attached garages, etc. Amazingly, it is around the corner from Dell's Headquarter's and it is such a short commute to their offices. Here is the link if you want to look at the map, etc. The Retreat at Town Centre - Luxury Round Rock Condos

Good Luck!

[Mike78613]

Originally Posted by texastea

May not be ideal commute-wise, but for the house, Leander would work. And they could ride the train or Leander Express bus to UT.

^

Great suggestion and Leander is HOT right now also.

Growing really fast.