The Austin area has received national attention in recent years for its rapid growth and robust economic activity. Compared to other metro areas in the country, the city’s vibrant culture, thriving job market, and affordability have attracted young professionals, families, retirees, and international buyers. As a result of this prosperity, Austin real estate prices have increased by nearly 50% between June 2019 and June 2023. Up-and-coming Austin neighborhoods and surrounding cities are also benefitting from more interest in the area as new residents invest in the housing market.
Kay and Michael Lambert decided to move back to the United States after living and working as educators in Asia for 40 years. They were looking for a house in a diverse, safe, and up-and-coming area near a large city. Austin’s friendly vibe and proximity to urban and outdoor activities drew the native Texans in. It also helped that the Lamberts’ adult children made Austin their home.
The Lamberts had many promising neighborhoods in Austin to consider, including Hyde Park, the North Loop, Rosedale, and Allendale. Suburban cities, including Georgetown, Cedar Park, Leander, and Round Rock, also offer convenient and affordable alternatives to the city.
In a robust and sought-after market like Austin, Texas, homes for sale in many of these neighborhoods are selling after only four to six weeks on the market, on average. This is similar to how real estate in Texas markets are generally selling. Homebuyers willing to look at properties outside the city can spend more time looking for their dream home and find it at a lower price.
After talking with Kay and Michael about their preferences, they narrowed the options to three beautiful houses:
They chose house #1, a beautiful home in the Forest Oaks community in Cedar Park. Forest Oaks is in the heart of Cedar Park near shopping centers with a variety of retail options and features ample greenspace and two pools for residents. The neighborhood association also organizes events to foster a community atmosphere. The Lamberts are happily settling in, finding their way around Cedar Park, and are loving it!
Austin has become an international attraction and a destination for people eager to join its colorful communities and put their money into the Texas real estate market. To understand what exactly makes Austin such an attractive investment destination, let’s dive into the factors that are contributing to its growth.
There are several advantages to purchasing real estate in a burgeoning area. Properties in these areas tend to be more affordable, allowing investors to maximize their budget. Additionally, as the area develops and becomes more desirable, the value of your property may increase, offering significant potential for capital appreciation. Savvy property investors who strategically target emerging areas around Austin stand to reap substantial benefits. As the city continues to grow and develop, property values in these areas are likely to rise significantly, leading to impressive returns on investment.
Real estate investment is a potent tool for wealth creation, and Austin, with its thriving economy and dynamic lifestyle, is an ideal location to leverage this tool. So, if you’re a property investor looking to capitalize on an exciting, up-and-coming market, Austin is the place to be. Don’t miss out on the opportunity to grow your wealth in this promising city. Act now and invest in real estate in Texas!