It’s no surprise that Austin can be a tough market for homebuyers. As prices continue to rise in and around the city, it’s becoming harder and harder to buy an affordable home that’s actually, you know, in Austin’s city limits. One alternative? Condos — which can often be half the price of single-family homes in the same sought-after neighborhood.
For example, in East Austin off Manor Road (think of that hip little pocket nestled between the buzzing neighborhoods of Cherrywood and French Place), a single-family home is averaging a sold price of nearly half a million dollars.
But pricing for EastGate, a modern condominium project slated to be completed this summer, starts in the low $200,000s, meaning you'll still have the funds to get out and experience what your new neighborhood has to offer.
And in East Austin, that’s a whole lot. Hot foodie spots like Unit-D Pizzeria, Sour Duck Market, and Dai Due are all just a short walk away from EastGate. And Longhorn fans will be in heaven, as EastGate is just down the road from UT’s baseball field and a hop, skip, and jump away from Darrell K Royal-Texas Memorial Stadium.
A condo may be smaller than a single-family home, but EastGate residents won’t be missing much, with 17 different floorplans to choose from. The modern condominiums, developed by Pearlstone Partners, are all outfitted with quartz countertops, custom cabinetry, stainless steel appliances, designer tile, walk-in closets, and beautiful wood laminate flooring throughout. Some even offer some of the best views of downtown Austin from their private rooftop terraces.
The trade-off for less square footage isn’t just getting to live in the middle of Austin’s buzziest neighborhoods — you’re also building equity in one of Austin’s fastest-growing areas, which has seen housing prices appreciate at a steady rate for the past few years. An EastGate condo can easily become an investment property. Or, better yet, that earned equity can make finding a single-family home further down the road much more affordable. Plus, a condo means property amenities and no exterior makeup. You heard that right: property ownership doesn’t have to mean mowing your own lawn.
Condos are becoming an increasingly attractive option for young professionals and families who want to live near the action of downtown Austin without the hefty price tag of a single-family home. But the low-maintenance lifestyle condos offer are perfect for empty nesters looking to downsize, too. With HOAs handling upkeep for features like pools and rooftop decks, EastGate offers residents the chance to enjoy luxury amenities — without the extra cost or hassle.
The EastGate condos are slated to be finished by summer 2019, but don't wait to secure yours. Contact an agent today by calling 512-522-1001 or emailing live@eastgateaustin.com for more information.
