New Communities Southeast - Worth it? (Austin, McKinney: sales, appliances, houses)

[mladyco]

We are hoping to purchase our first home early next year. We currently live Southwest but can't afford to purchase a home in this area, so we're considering Southeast Austin. Bradshaw Crossing, McKinney Heights, Addison, and Easton Park are just a few of the communities we've looking at, but there will probably be more coming to the area. Current residents, what's it like living out there?

[sojourner77]

I live in that direction, but not in one of those specific neighborhoods. The homes are nice, they have amenities you would find anywhere else (local schools, swimming pools, etc.). The quality of construction is about the same for comparable builders SW - DR Horton or Lennar, but the prices have been increasing steadily. AHV(?) started building an addition to Onion Creek that starts in the 220's, and this seems to be about the baseline for the area now, including additions to existing neighborhoods like Bradshaw Crossing.

I would look at resale and get an inspection if you want to capitalize on the area right now. There may be issues with foundations, but none of the new developments are anywhere near the flood plains, like you would find in the older 70's neighborhoods downstream towards Cannon. There is one street in Onion Creek (the upscale golf course neighborhood) that had flooding issues, but that too is a 70's neighborhood.

There will always be a blue-collar presence in the area, and a higher number of Hispanic families. Not sure how the higher prices will affect this demographics in the future. I think the value will be there long term for the area, especially with the flood plain buyouts, and conversion to parkland along Onion Creek. Old housing is being demolished downstream, and new housing upstream is replacing it, but I'm not sure if the original residents are staying, or moving to Buda/Del Valle. Time will tell. The real obstacle is the size of the elementary school campuses - there are about 900 kids at the elementary school serving the area. We don't attend the local school, but there are other options as well - charter, private, etc.

[sojourner77]

I had never heard of Addison, or Easton Park before this thread and looked up their location. It looks like they are in Del Valle ISD which is a minus, but holy crap - they start in the low and mid-200s. That is a lot for that location. The amenities and master plan look awesome though.

[riaelise]

Originally Posted by sojourner77

I had never heard of Addison, or Easton Park before this thread and looked up their location. It looks like they are in Del Valle ISD which is a minus, but holy crap - they start in the low and mid-200s. That is a lot for that location. The amenities and master plan look awesome though.

There's no way I'd pay those prices to live in that area.

[mladyco]

This is all great information! Thank you. And yes, I'll be looking into resales because I do not want to pay over $200k and be in Del Valle ISD. I don't have children right now, but I know that fact may make it difficult to sell my home in the future. I don't anticipate Austin prices going up much more in that area to justify paying $225K and up. However, I do like the idea of hike and bike trails and being close to McKinney Falls State Park.

[sheaday]

We were heading this way yesterday and saw the sign for the Addison community and decided to drive through the neighborhood. We used to live in Del Valle on the other side of toll 130 so we're definitely familiar with the area.

So far there are only about 5 or 6 houses under construction. We walked through a couple of them that were already framed and done on the outside. Not impressed. We walked through a 3/2 that felt really tight and cramped. The master bath was tiny (no tub, only shower and room for one vanity) but with a huge walk in closet. Maybe that's in now? I looked at their site and the house is 1300sf ft and being sold for $202k. Way over priced if you asked me. There were no finishes installed yet but according to the builder's site, the homes come standard with laminate, carpet, black appliances. So just your regular builder grade finishes unless you pay for upgrades.

The outside of the houses have that modern look but the floorplans were the traditional open layouts that everyone is doing. We also walked through a 4/2 1600ish sqft that's priced around $260k. I have no way of knowing, but that price seems to indicate some upgrades included. I wouldn't pay that much for 1600 sq ft in that area.

And speaking of the area, the community is right on 183 south of the airport. That part of town is dumpy. Right when you turn into the neighborhood, there's 3 small little buildings facing 183 that had a ton of junk in the parking lot. And directly across the street is another small business/set of small buildings that had a weathered blue tarp over of the the makeshift building that had junk everywhere too. There is definitely nothing out there. The closest HEB is I-35 and William Cannon or the one on Riverside. No restaurants or stores on that strip of 183 either.

But I guess if you build it, they will come so I'm sure there will be plenty of homes built there in the next few years. If I was planning to spend $250k on a 3/4 bed 1600sq ft house, I would definitely buy a re-sale in a better part of town. Seeing what things cost now makes me feel fortunate that we bought before this housing chaos took over.

[mladyco]

The outside of the houses have that modern look but the floorplans were the traditional open layouts that everyone is doing. We also walked through a 4/2 1600ish sqft that's priced around $260k. I have no way of knowing, but that price seems to indicate some upgrades included. I wouldn't pay that much for 1600 sq ft in that area.

Yikes! That's way too expensive. We're trying to find a newish place for as close to $200K as possible. So far, we've been impressed with Bradshaw Crossing. The location works for us too. I just don't know anyone who lives there, so I don't know what to really think of the quality of life. Sales people are sales people.

What sucks the most is that our income has finally gone up, but the cost of living has increased substantially as well. I'm trying to stay positive, but homeownership seems almost impossible at this point. (Sigh...)

[sojourner77]

Originally Posted by mladyco

Yikes! That's way too expensive. We're trying to find a newish place for as close to $200K as possible. So far, we've been impressed with Bradshaw Crossing. The location works for us too. I just don't know anyone who lives there, so I don't know what to really think of the quality of life. Sales people are sales people.

What sucks the most is that our income has finally gone up, but the cost of living has increased substantially as well. I'm trying to stay positive, but homeownership seems almost impossible at this point. (Sigh...)

Don't fret - Bradshaw Crossing/McKinney Heights, and even Crossing at Onion Creek, are pretty solid if you want to buy resale especially when you compare the price of existing homes vs. new construction. Everything in that area (and Austin in general) is starting to become a little uppity in terms of price. It has to be due to the price of commodities and low interest rates, because there is an abundance of land in that direction.

You could get a 1500-2000sf house for around 200K, and as your income rises - start replacing finishes. Houses in the more established neighborhoods closer to I-35, like Parkside at Slaughter (Standard Pacific) have already started selling for over 300K now, and they were "from the 140's" not even 10 years ago. Long term it will be a good investment as the area gets built out along with the rising cost of buying in.

[mladyco]

You're right about the resales. I've been setting up alerts on RedFin and see that resale homes in the McKinney Heights and Bradshaw Crossing neighborhoods are about $20,000 cheaper! I'm feeling better now. Hopefully the prices don't get too crazy 6 months from now.

[Mark Rome]

There is the 700+ acre McKinney Falls State Park across the street from Easton Park, next to the park are 2 golf courses, and there is Springfield Park just west on William Cannon and the Soccer Complex. There is also the 555 acre Onion Creek Metro Park, which is bigger than Zilker and more will be added as the buyouts are completed. Plus there is a plan to develop a trail along Onion Creek, it is already being built by 71. I live in the area and have been happy here. The parks are great and the new parks being develop excite me.