Cheap Apartments in the North? (Austin, Round Rock: transplants, real estate, lease)

[Lafemmenikita1]

My partner and I are relocating to Austin in mid July partly for work, but mostly because we want to be around family. Including ourselves and our son, there will be 20 total family members living around Austin! We are all transplants from various states. It was a tough sell for me, but what sold me in the end was the idea that my son would be around my brother's young daughters and other relatives. My brother also loves it there and keeps telling me that it does get cold. I love the cold, but technically heat is better for my health. We visited last August and it was hot, but not the hottest place I've ever been or lived.
Unlike most people, we have ZERO DESIRE to live in downtown or close to it. On the contrary, I want to feel like I'm not in a city.
I'm currently being interviewed for a teaching position in Leander; my brother lives in Jollyville, which is as far south as I'm willing to go. We will be staying with my brother until we find a place to stay around August 1st.
Ideally, we'd like to live cheap and save money so that we can buy a house.
We're looking for an apartment complex under $900 a month in Jollyville or above it, say Cedar Park, Leander, and Round Rock, preferably around hills or greenery that will give us a 6 month lease and then month to month. I imagine Georgetown is just too far. Amenities are a plus but not required. We have no pets, but my partner wants a dog for our son.
I've read on this forum that the housing market is crazy competitive. Is that true for the northern parts as well? I watch a lot of house hunters and I saw a decent 3 bedroom in Pflugerville for $229k! Is that impossible nowadays?
How hard is it to find an under $200k house in the north? I have all these housing expectations in my head and I'd rather be corrected about them now.
Thank you!

[JH6]

I paid $124k for a 2 bedroom 1100 sq foot house in Round Rock 3 years ago.

House is 9 years old, and needed a little work but nothing major.

Get a preapproval for a loan, then get a good realtor, and be ready to bid full asking price or over asking.

You can get a bunch of decent housing for under 200k north of Austin, the farther you go the cheaper it gets.

[TexasHorseLady]

Currently 32 3/2 houses for $200,000 or under in MLS Area CLN, which is the area that Leander is in.

[Lafemmenikita1]

Wow!
Thanks for the perspective, JH6.
We want to rent a 2 bedroom, but buy a 3 bedroom.
I really hope I get this position so I can start the paperwork to buy. I've attempted to buy a house twice now, before and during graduate school, but it's never worked out. I'm hoping that real job=real mortgage!
I've been in contact with my credit union and they advised me to wait until I have employment there.
Unfortunately, my partner has a a high student debt, and so I'm worried that we'll be unable to buy a place together.
Thank you too, TexasHorselady.
I've been looking at austinhomesearch.
I had initially put in 200k max, but there were so many that I decided to decrease it.
I'm concerned about taxes, but my credit union told me that there's a way for me to put the taxes into the total price/mortgage?
What is your opinion on all those rent to own deals? Are they scams?

[TexasHorseLady]

Originally Posted by Lafemmenikita1

Wow!
Thanks for the perspective, JH6.
We want to rent a 2 bedroom, but buy a 3 bedroom.
I really hope I get this position so I can start the paperwork to buy. I've attempted to buy a house twice now, before and during graduate school, but it's never worked out. I'm hoping that real job=real mortgage!
I've been in contact with my credit union and they advised me to wait until I have employment there.
Unfortunately, my partner has a a high student debt, and so I'm worried that we'll be unable to buy a place together.
Thank you too, TexasHorselady.
I've been looking at austinhomesearch.
I had initially put in 200k max, but there were so many that I decided to decrease it.
I'm concerned about taxes, but my credit union told me that there's a way for me to put the taxes into the total price/mortgage?
What is your opinion on all those rent to own deals? Are they scams?

Here in Texas, the real estate commission has promulgated forms for everything to do with real estate. Well, almost everything - there's one thing they don't have forms for, and that's lease purchase (rent to own). Their advice to an agent with a client who wants to do that is to refer them to a real estate attorney and to step away carefully, because those are so fraught with peril.

[AustinDude360]

You can find in North at or under $200K if you are going smaller (under 2000 sq ft), pre-existing, 3 bedrooms, and okay for getting less amenities in the community (e.g. - no masterplanned community).

You should probably look at the lower property tax rate areas. Buttercup Creek is one of the cheaper tax rate I think in CP. For Round Rock, there are several areas where the tax rates can be in the 2.3%'s. Since you are tight on your max, the tax rate is going to make a big difference. E.g. - if you buy in Leander tax rates can be at 3.1% vs. Cat Hollow which is 2.4%. That difference in a $200K home is $117 a month on the combined mort + escrow payments for you. Also note that your utility bills will be cheaper if you are housed in the city of CP and Pedernales.

You will have to put your taxes in an escrow if you put less than 20% down. You can pay taxes yourself after you have over 20% equity.

You could also consider townhomes to get you down to under $200K. They are popping up in CP now and are actually quite new and central to the Lakeline mall area.

My thought for your budget is to check out Buttercup Creek. Here is an example of a $170K listed home that was recently sold. It likely sold for at least $10K over list:

MLS 5623441 (google it)

Be prepared to have all your financing pre-approved and have strong offers ready (above asking). Homes under $200K will not last long in this market.