Hyde Park
- Thread starter The Bloak
- Start date
William Cannon
250+ Posts
My mother bought a 750 square foot 2/1, with a detached one car garage, in the North Loop area in 1989 for $26,500 (for my 16 year old brother who was kicked out of the house). It was sold for $56,000 to an industrious UT graduate student in 1995, who renovated it and sold it again. I don't know what he got for it, but it's still the same size, and is now on the tax rolls for $169,000. That area is not going to depreciate. Period.
We paid $286 per sq. ft. for a 25 year old tiny efficiency 1 BR condo (long term investment & future use by our two year old) just South of HP (North Campus) last year.
There are 75 million rapidly reproducing people 450 miles South of Austin that can increase their annual income 8-10 times, minimum, by making that trip North. That's not going to change in our lifetime. Border state real estate values, for properties in desirable locations (proximity to flagship university), are tremendously pressured, positively, by this fact.
In hip cities like Austin, this effect is magnified, and wealth driven urban flight goes in both directions, suburban sprawl and inward, to inner loop boutique neighborhoods, like those mentioned here, providing an insulating effect to value. The nearest lower valued neighborhoods to those mentioned here are now appreciating at rates similar to the example described above, meaning you can expect an even better return. You are making a very wise investment.
We paid $286 per sq. ft. for a 25 year old tiny efficiency 1 BR condo (long term investment & future use by our two year old) just South of HP (North Campus) last year.
There are 75 million rapidly reproducing people 450 miles South of Austin that can increase their annual income 8-10 times, minimum, by making that trip North. That's not going to change in our lifetime. Border state real estate values, for properties in desirable locations (proximity to flagship university), are tremendously pressured, positively, by this fact.
In hip cities like Austin, this effect is magnified, and wealth driven urban flight goes in both directions, suburban sprawl and inward, to inner loop boutique neighborhoods, like those mentioned here, providing an insulating effect to value. The nearest lower valued neighborhoods to those mentioned here are now appreciating at rates similar to the example described above, meaning you can expect an even better return. You are making a very wise investment.
LOL....yeah, were it not for that bump in pay, the house we are buying would have never been in the equation. A lot of luck with some good timing.
I like you REALLY enjoy "house projects". Already have plans for landscaping, painting etc so long as they don't interfere with college football.
I like you REALLY enjoy "house projects". Already have plans for landscaping, painting etc so long as they don't interfere with college football.
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