What area of Austin would you live in if you were me?

[CptnRn]

Originally Posted by centralaustinite

Yes, but house don't appreciate -- land does! A lot in SW Austin will be worth a lot more in 30 years than a lot in an outlying area where newer homes continue to be built up around it!

I'd go older and remodel. Especially if you really plan to be here in 30 years. If think you will move in 5 years, then it doesn't matter much.

"houses don't appreciate -- land does!"

That sounded good, but I wondered if it is true. So dug through some of my old tax records for a house that I bought in 1981 in OakHill, and still own as a rental. The oldest tax record I could easily lay my hands on was 1995, here are the numbers below compared to 2011. There have been no significant improvements made to the house other then good maintenance.

Year...........Land.....Improvements
1995...........19K.......61K
2011...........60K......111K
Increase......315%....181%
Per year......19.6%....11.3%

So, yes, the land increased in value more then the improvements, but the increase in value of the improvements is still significant.

[Mom2NAC]

I knew before I posted this that SW Austin was the best idea, and you all have confirmed it. I just love how much (new) house you can get for the same price outside of Austin!