The Austin real estate market isn’t slowing down. Both home prices and rent hikes are on the continual rise, incentivizing more and more renters to buy their first place. Buying into a real estate market while prices are rising opens the opportunity to gain equity in a home relatively quickly. This means a higher profit for you when you eventually sell.
In addition to rising prices, Austin is also in an inventory shortage. This means that the demand for new homes is very high, which is bringing more home builders into the city. The inventory shortage and influx of builders has created a unique opportunity to ‘hack’ some extra home equity.
Six #homespacehomebuyers are currently under contract doing just this, and I’d love to help more of you do the same!
Here’s how it works:
Instead of buying an existing home, talk to me about purchasing a brand new house in one of the new home communities currently going up in Austin. The big advantage of this is that a new home takes 6-8 months to build.
Why is this a good thing? Because the purchase price for the home is locked in at the time of contract. This means that for 6-8 months you can be ‘collecting equity’ as the market appreciates, yet you don’t pay anything other than earnest money on the home until you close on it.
The reality for several of my clients is that by the time closing date rolls around, they’re moving into a brand new home with a few thousand dollars of equity already in their pocket.
Of course, this isn’t the right move for everyone. If you’re locked in on a certain location that doesn’t have much new construction or want to live in a non-HOA neighborhood, traditional home sales are still the way to go. But for those who have some flexibility on location, it’s definitely worth looking into.
I’d love to be your resource on all things real estate, so please reach out any time!
July 24, 2019