If you’ve lived in South Austin for a while, then you already know how much property values have sky-rocketed in red-hot neighborhoods like Bouldin Creek, Travis Heights and Zilker. Without a doubt, Austin is a seller’s market right now.
I moved back to Texas and bought my house in South Austin in the Bouldin Creek neighborhood in 2014. I thought our house was expensive back then. Well, in just under 2 years, my Travis county property value assessment has gone through the roof – increasing by over $100,000.
Now don’t get me wrong. I still love Bouldin Creek and it’s close proximity to South First St., Congress Ave, and the playground that is downtown Austin. My young family walks and bikes everywhere, and we love the location. But, maintaining a home in Bouldin Creek is becoming painfully expensive.
For example, some of my neighbors are retired and live on fixed incomes. They complain about the strain of ever-increasing property taxes (more than most) because they’re living on fixed incomes. In fact, some long-time residents are publicly asking this question on our neighborhood list serve, “Is it time to sell?”
And the answer is: it depends.
If you’re retired or nearing retirement and/or you’re an empty nester without kids living at home, then you should seriously considered selling right now. Here’s why:
- property taxes are only going to go up in South Austin. That’s a fact.
- you don’t need as big of a house when you get older. It’s costly and a burden to maintain.
- you can buy a comparable house in a place like Dripping Springs for half the price and pocket the savings to bolster your retirement funds.
- you can get a great price for your house right now. The Austin real estate market is red-hot right now, but it won’t stay that way forever. Experts predict that US interests rates will start to rise in the second half of 2016 and in 2017. When that happens home prices will start to cool off in Austin.
- Houndstooth Cash Buyers are actively buying homes in South Austin and will make you an all cash offer.
Want to discuss the pros and cons of selling your Austin house now? Give us a call, let’s talk about the options and let us make you an all-cash offer.