It’s no secret that home prices in Austin are on the rise. Although the market isn’t moving as quickly as it has in past years, inventory is still limited, and costs are still high. According to the Austin Board of Realtors, prices are up 7 percent year-over-year for single family homes in the Austin area. This rise makes things difficult for all potential homebuyers, but those likely to struggle the most are first-timers.
Historically, first-time homebuyers have a limited budget, and thus want to find the absolute best bang for their buck. So what can you get in Austin in the $200,000 to $400,000 range? The below neighborhoods might just be the perfect place to start.
Southeast Austin is known by many as one of the cheaper areas in and around the city, and its listing price proves that assumption correct. Currently the average home for sale in Southeast Austin is listed at $230,316. However, for a slightly higher than average price of $249,000, you can purchase a home like the one located at 5801 Shaded Cottage Ct., with four bedrooms, three baths, and 1,931 square feet. This home is located in a gated community, walking distance from Dove Springs Park, pool, tennis courts, and rec center. In addition, McKinney Falls state park is just a few minutes away via car.
One of the best areas for first-time buyers is South Austin's 78745 ZIP. For a slightly higher than average price tag of $375,000, you can purchase a beautiful home, like the one located at 4710 Round Up Tr. This adorable bungalow contains three bedrooms and one bath and sits on .32 acres. One of the key features of this home is that it backs up directly to Williamson Creek, but it is kept private by the copse of trees surrounding it. The home also features a wide-open floor plan and newly upgraded wood flooring.
South Austin is made up of many diverse, excellent neighborhoods with plenty of access to amenities and services. The current average listing price for the area is $329,210, a perfect midrange for the first-timer’s budget. One such home is 1112 Robert E. Lee Rd. currently listed at $400,000, and boasting a prime location. This two-bedroom, two-bathroom condo has a spacious entertaining area, spacious open floor plan, and easy access to Barton Springs Pool (and ACL Fest).
Cedar Park is also home to some great values for the first-time homebuyer. Not only does Cedar Park have great schools, but there is something for everyone, with easy access to the great outdoors, shopping, and foodie favorites (365 by Whole Foods Market, anyone?). The average listing price of the area is $367,408, but there are always deals to be found. One such deal is the cheapest property on our list at $200,000, a three-bedroom, two-bath home located at 832 Lone Star Dr. The home has plenty of storage; brand-new carpeting; and is located within blocks of grocery shopping, outdoor activities, and more.
If you're willing to commute, Georgetown offers great deals on beautiful homes. The average listing price for a home in Georgetown is currently $366,922. And because the area is removed from the hustle and bustle of Austin, it is very possible to find a home that offers a lot more space for your budget. For instance, the home located at 725 Vaughn St. nets out at 2,752 square feet and has five bedrooms and four bathrooms, and the price tag is $309,990. This home is also brand-new and energy efficient. The development is still under construction, but eventually, community amenities will include a clubhouse pool, splash pad, and trail system.