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Old 06-05-2020, 05:12 PM
 
5 posts, read 1,381 times
Reputation: 10

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Hello -

I will be moving to Austin in the next 3-6 months for work and could use some help to decide where to live. Below are some key stats:

Total Comp: ~$150K
Liquid Net Assets: ~$150K (student loans in my 20s ate into this...)
Desire: likely a house (really don't want a condo and even less so an apartment). I would also prefer a home that I can rent out either long-term or AirBnB as I travel a lot for work
Work location: downtown but I WFH a lot

What neighborhoods do you think would be good?

TIA!!
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Old 06-05-2020, 05:22 PM
 
Location: Austin, TX via San Antonio, TX
6,955 posts, read 9,468,228 times
Reputation: 4095
Do you want to be close to downtown? What do you want to be close to? What type of rent/mortgage are you willing to pay? And also, you 128 thirty year olds move to Austin every day. Try a search if the forum. You’ll get a lot of good answers about relocating.
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Old 06-05-2020, 06:41 PM
 
4,707 posts, read 1,905,666 times
Reputation: 3663
I'm assuming that's $150k salary and up to $150k to liquidate? If the liquidations arent going to burden you, I personally would buy, unless you see yourself moving again in the near future. That would cut your mortgage in half. As for where to live? I would look into Pfugerville.
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Old 06-05-2020, 09:27 PM
 
6,810 posts, read 12,186,729 times
Reputation: 3441
Quote:
Originally Posted by Waldo_on_6th View Post
Hello -

I will be moving to Austin in the next 3-6 months for work and could use some help to decide where to live. Below are some key stats:

Total Comp: ~$150K
Liquid Net Assets: ~$150K (student loans in my 20s ate into this...)
Desire: likely a house (really don't want a condo and even less so an apartment). I would also prefer a home that I can rent out either long-term or AirBnB as I travel a lot for work
Work location: downtown but I WFH a lot

What neighborhoods do you think would be good?

TIA!!
use austinhomesearch.com

I would definitely do the east side. Close enough to downtown that you can rent for festivals, SXSW, and also close lots of new restaurants and bars.

Junky houses might drop in price to the 350-400K range which you should be able to swing.
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Old 06-05-2020, 09:29 PM
 
6,810 posts, read 12,186,729 times
Reputation: 3441
Quote:
Originally Posted by Need4Camaro View Post
I'm assuming that's $150k salary and up to $150k to liquidate? If the liquidations arent going to burden you, I personally would buy, unless you see yourself moving again in the near future. That would cut your mortgage in half. As for where to live? I would look into Pfugerville.
150K salary and 150K in net assets.

I wants to be close to downtown, which is totally doable in the 350-450 range.

He could get 250-350K if he was willing to go to the montopolis area.
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Old 06-06-2020, 09:18 AM
 
457 posts, read 133,690 times
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The one thing that is missing is size and age expectations for the house. Would you do one of the 1000 sqft unit B's? Etc.

In general I would recommend the east side. That would be close to work, close to nightlife, close to the airport, and great for Airbnb. The ideal neighborhood is probably Holly.
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Old 06-06-2020, 10:43 AM
 
Location: Austin, TX via San Antonio, TX
6,955 posts, read 9,468,228 times
Reputation: 4095
OP hasn't been back in a while. Yes, it hasn't been that long, but it sure sounds like he wants us to to do the work for him. I'm here to help, but I'm not your relator or lifestyle expert.
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Old 06-06-2020, 04:03 PM
 
4,707 posts, read 1,905,666 times
Reputation: 3663
Quote:
Originally Posted by ashbeeigh View Post
OP hasn't been back in a while. Yes, it hasn't been that long, but it sure sounds like he wants us to to do the work for him. I'm here to help, but I'm not your relator or lifestyle expert.
Being a realtor isnt bad though, I mean...a paycheck for every post you see like these sounds pretty enticing.
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Old 06-06-2020, 06:29 PM
 
5 posts, read 1,381 times
Reputation: 10
sorry for the lack of detail. Some additional points are below -

1. Size: 1500-3000 sq ft
2. Feature: pool and decent sized backyard are nice to have but not critical
3. Yes, I could liquidate $150K but I prefer not to. My financing situation is a little unusual and I prefer not giving additional detail.
4. Credit: excellent
5. Mortgage: trying to keep under $2500/month
6. Other: I hear West Austin/Lakeway/DS/Bee Caves has a massive amount of $$$ coming in from like California and while overpriced is a safer investment than East Austin. I’ve also heard that East Austin while safer than before still isn’t great (let me emphasize: this is just anecdotal so if your experience is different let me know)
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Old 06-06-2020, 06:55 PM
 
4,707 posts, read 1,905,666 times
Reputation: 3663
Quote:
Originally Posted by Waldo_on_6th View Post
sorry for the lack of detail. Some additional points are below -

1. Size: 1500-3000 sq ft
2. Feature: pool and decent sized backyard are nice to have but not critical
3. Yes, I could liquidate $150K but I prefer not to. My financing situation is a little unusual and I prefer not giving additional detail.
4. Credit: excellent
5. Mortgage: trying to keep under $2500/month
6. Other: I hear West Austin/Lakeway/DS/Bee Caves has a massive amount of $$$ coming in from like California and while overpriced is a safer investment than East Austin. I’ve also heard that East Austin while safer than before still isn’t great (let me emphasize: this is just anecdotal so if your experience is different let me know)
I'd say If you come in with no money down or a minimal down payment you're going to be pretty close to if not at your $2,500 mark after you add property tax. With something between 1500 - 1900 sqft in the suburbs you will probably be below your target however.

West Lake Hills area is going to require the liquidations to even consider given your budget. Likewise for Lakeway area.

Last edited by Need4Camaro; 06-06-2020 at 07:07 PM..
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