Condos in north Austin?

S

Strangest Tribe

< 25 Posts
I just started a new job in north Austin. I'm thinking about buying a condo (if possible) because I'm tired of living in an apartment.

Anyone own a condo in north Austin or have a lead? Just doing a little research first.
 
any reason you would not consider buying a home?

If you're tired of living in an apartment, living in a condo is not much different.

There are tons of condos in N Austin, fyi

Interest rates are so ridiculously low that you should consider looking at houses. They are a better longterm investment than a condo community. When owning a condo you are always subject to the condo association's decisions to add/improve things that you don't give a crap about, but will have to pay for.

I have a co-worker friend who bought a condo in N Austin off of Duval about a year ago and regrets that she didn't buy a house, for what it's worth
 
i live in a condo, which my roommate owns, on hart and east hill, over in between far west and 2222. there are a lot of condos available in the area. i like our little complex, but i'm not sure what the going rate is.
 
I'm really tired of paying rent, not the apartment itself. I'd rather the money I pay go towards some kind of equity, but I'm not ready for a yard. A condo seemed good to me.
 
take this for what it's worth, but your home buying decision shouldn't come down to cutting your lawn. You could pay a neighborhood kid to cut it.

Your right on about being sick of throwing money down the drain. The bottom line is if you can afford the down payment and closing costs associated with buying a home or a condo (and you'll be in Austin somewhat longterm), there is no reason to keep on renting. You are throwing money away and foregoing significant tax breaks.

Interest rates are the lowest they've been since the 60's. While home prices are still somewhat stable, there are hundreds of homes in the Austin market that have been reduced. 3 years ago when you made an offer on a house it had to be over the asking price. Nowadays, you offer $10K under the asking price.

Think longterm. That price of condos right now is still relatively high, meaning the room for appreciation is not too great. The value in the longrun will not increase as much as a house.

Anyway, there's many more reasons why to buy a house, but I've got to run. Maybe some others can elaborate or I'll check back later.
 
Hi! I was in the same position as you a little over a year and a half ago - have a job and tired of paying rent. Depending on what you consider "north Austin", I bought a townhouse very close to Parmer and Mopac. The awesome thing about my place, is that it has all the features you would want in a house, without any of the aches and pains of a house. I have a 2 car garage, 1440 square feet (huge kitchen and bedrooms), pool and hot tub, small yard (20 x 25, so you can bbq, but mow with a weed eater), but I don't have to worry about the upkeep of the exterior or front yard.

Even though I love my house, I have gotten engaged, and we have discussed buying a new house (for some reason my fiance LIKES mowing the lawn). If this area is one you would consider, I would be more than happy to discuss my townhouse, or my experience looking and purchasing!

J
 
closing costs vary. I assume your asking from the buyers point of view.

the 6% fee applies when you are selling your house. Part of that goes to the realtor. When you are buying, you pay no commission to the agent you are working with. Part of your closing costs as the buyer goes to paying the seller's commission costs.

If you are buying a "used" home, you can negotiate all or some of the closing costs to be paid by the seller. Most likely you will pay some.

Typically closing costs are 4-5% of your purchase price. Like I said though, you can probably negotiate some of this out.

also, If the person you are buying from is not using a realtor, typically your closing costs will be less since they do not have to pay anyone a commission
 
buy a house no doubt. As unpainted said, you don't have to deal with the often slow moving, idiotic condo owners associations.l Plus you don't have to pay them money. Some of those associations milk so much money out you in extras is absurd.

look in 360, Mopac triangle area for some good deals right now in North Austin.

Even better deals out in Cedar Park, Pflugerville areas with all of these new developments that were started during the boom of Austin.

Condo's are the thing of the past, get a yard and some freedom.
 
You need to figure out what you are looking for. If you want a yard and some distance from your neighbors then get a house. There are many other reasons to get a house which others have mentioned (some of which I do not think are true or that I agree with).

I bought a loft condo downtown in the Warehouse Distrct. I like going days without driving my car or dealing with traffic. I like living by other professionals and successful people and having a wide range of restaurants and bars very close by. My mortgage has a low rate the same as people who buy houses.

I have a condo board which I don't always agree with but I've also dealt with homeowner's associations who have been just as draconian.

Condos versus houses are personal preference, just as location is. As a fun-loving single guy I'd die living anywhere north of about Steck. You need to figure out what I want.

I paid ~$300/sq. ft. which is crazy to many people but the location and place I live in suit me to a key. I could live in a huge house north but I have no use for that, (others do and need that though which I understand!)

Good luck,
Rayfes -- just wanted to give an different perspective to this thread
 
well, he stated in his original post that he started a job in north Austin and was looking north.

secondly, the condos you live in downtown are very nice from an aesthetic perspective and a location perspective (if you want downtown). But $300/sq foot for a loft condo is beyond crazy relative to searching for a N Austin house or condo. I know how those things are priced because I looked into the Nokonah when it was being built a few years ago. All of the new downtown pads are very cool, but extrememly high priced. Considering the guy is looking to get away from apartment living, living downtown would do nothing to change that. A lot of the condos in N Austin are essentially "connected houses" with small yards, not apartment-like.
 
Unpainted-

you're right that living downtown probably doesn't work well with having a job in north Austin.

I need to refrain from posting after a night of drinking.
 
There's some expensive property downtown but there are some cheaper alternatives too like at the Railyard. There are some small studio units for under $100k there. Nice 3-2's have been available for $200k+.

Austin City Lofts just broke ground and I think they have some units below $300k.
 
Hi! Closing costs are based on the amount of the loan, the tax rate (you have to pay a couple of moths taxes to start off your escrow account), and some miscellaneouls fees (lawyer fee, courier fee, etc). I think for the buyer they come out to 5% or so of the sales price.

If you are really interested in buying a house, the UT informal classes through the union has an excellent 2 night class on buying a house. It is very thorough and I definitely learned a lot about the process from that class.

The buyer doesn't directly pay for the realtor fees. That money is paid by the seller at closing (usually 3% to the buyer agent, and the % to the sellers agent is negotiated between the seller and their agent). So these fees are usually a consideration when the seller determines what offer they will accept from the buyer. If the seller has to pay 3% less to sell the home, they are more likely to accept a lower offer.
 
As a realtor, let me throw in my two cents. There are a million options out there and there is no better investment than a home. It is a great time to buy. Interest rates are at a 30 year low and the market is saturated with options. Email me if you have any questions and i would be happy to help out...

as someone who obviously has a vesting interest in your purchase, i will show horn loyalty and answer any questions, unbiased, even if you use a different realtor.

Just FYI, the brown building has some condos that have been on the market for close to a year and they provide a great tax exemption for historical value. Obviously they are upscale and more expensive since the renovation, but the tax break will make up for their homeowners dues...
 
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