Moving to Austin, Texas

Quick insights

• Austin offers homebuyers a diverse range of places to live such as family-friendly areas like Barton Hills and Circle C Ranch to neighborhoods like East Austin and the Domain that cater to young professionals and boast numerous cultural, dining and entertainment options.
• The city’s thriving job market is bolstered by major employers like Apple Inc.^® and Dell Technologies^®, providing abundant opportunities especially in tech, healthcare and education sectors.
• Living in Austin offers a rich tapestry of cultural events such as South by Southwest (SXSW), Austin City Limits (ACL), Texas Book Festival and the Austin Film Festival.

As a first-time homebuyer, moving to Austin means stepping into a city brimming with opportunity, culture and excitement. Imagine settling into a welcoming community where every day offers a new experience – from exploring family-friendly neighborhoods like Barton Hills to enjoying the energetic vibe of East Austin. Picture spending your weekends at great BBQ spots, soaking in the city’s warm, southern hospitality. In this article, we will delve into various neighborhoods catered to families and young professionals, uncover the city’s lively entertainment scene, and explore how the blend of southern hospitality and community life can enrich your living experience.

Living in the city of Austin

Living in Austin offers an exciting opportunity for first-time homebuyers to immerse themselves in a city renowned for its vibrant culture, multicultural community and outdoor recreational activities. For families, neighborhoods like Barton Hills and Circle C Ranch offer good schools, lush parks and a strong sense of community, making these areas ideal for raising kids.

Family-friendly neighborhoods in Austin

Residents of Barton Hills can enjoy proximity to Zilker Park, a sprawling 351-acre green space great for picnics, sports and festivals. Many family-friendly neighborhoods offer a range of community amenities like playgrounds, sports fields and a community pool with a splash pad for kids.

Bustling neighborhoods in Austin

For young professionals, areas like the Domain and East Austin are buzzing and appealing. The Domain, often referred to as the “second downtown” features upscale apartments, trendy shops and a bustling social scene. East Austin has an eclectic mix of art galleries, hip cafes and lively music venues such as Mohawk Austin. The city’s job market provides different employment opportunities in technology, healthcare and education. Some of the largest employers are Apple Inc.^® and Dell Technologies^®.

Activities in Austin

Outdoor enthusiasts will appreciate the city’s bountiful recreational options, from hiking trails in the Barton Creek Greenbelt to kayaking on Lady Bird Lake. Families can enjoy the annual Austin City Limits Music Festival at Zilker Park or take their kids to The Thinkery, which includes outdoor play areas and interactive exhibits. Young adults can check out hotspot venues like The Domain’s Rock Rose Avenue with live music and entertainment options.

What to consider when buying a home in Austin

When buying a home in Austin, there are several crucial factors you may want to consider to ensure you find a location that fits your lifestyle, needs and housing goals.

Location and neighborhoods

Austin has many diverse neighborhoods, each offering distinct characteristics and numerous amenities.

• Zilker: Known for its proximity to Zilker Park and Barton Springs Pool, Zilker provides a family-friendly atmosphere with a mix of historic homes and modern developments.
• Clarksville: A charming neighborhood with a historic ambiance, Clarksville features tree-lined streets, extensive dining options and a strong sense of togetherness. Its central location provides easy access to downtown.
• Downtown Austin: Downtown offers proximity to major employers, dining, nightlife and cultural events. The area’s walkability and public transportation options make it a convenient location for commuting throughout the city.
• East Austin: Renowned for its artistic and cultural scene, East Austin provides a range of trendy cafes, live music venues and an energetic nightlife.

Proximity to essential services

When looking at different neighborhoods in Austin, consider how close it is to various essential services, as this can greatly influence convenience and quality of life:

• Banks: Easy access to banking services can help you manage your finances efficiently. Look for neighborhoods with multiple bank branches or ATMs close by.
• Post offices: Proximity to a post office is important for mailing needs, including managing deliveries. Having FedEx and UPS services nearby means you can easily drop off and pick up packages without long drives or multiple trips.
• Grocery stores: Having grocery stores within a short drive or walking distance saves time and effort in managing daily food and household needs.
• Healthcare facilities: Access to clinics, pharmacies and hospitals is critical for managing health and emergencies.
• Public transit: If you rely on public transit, proximity to bus stops and light rail stations can significantly ease commuting and reduce reliance on personal vehicles.

Housing market and affordability

Exploring different neighborhoods can help you find housing that fits your budget and needs. When shopping for a home, it's important to stay updated on current mortgage rates, which could fluctuate based on economic conditions and Federal Reserve policies.

• Average home prices and mortgage rates: The media home price varies widely based on neighborhood, home size and other factors. Consult with a home lending advisor in Austin to explore various financing options such as 30-year fixed-rate mortgages and adjustable-rate mortgages (ARM).
• Property taxes, insurance & calculating mortgage: According to SmartAsset, the average effective property tax rate in the Lone Star State is 1.60%ec-smart-asset-texas. Property taxes may vary by county and neighborhood. Homeowners insurance can be a major expense, with costs varying based on factors such as the home’s location, age and value. You may want to use a mortgage calcuator to get an estimate of your monthly mortgage payments.

Home inspection and maintenance

• Importance of home inspections: Home inspections are highly recommended to give homebuyers more insight into the condition of the home, identify potential issues and negotiate repairs with the seller before purchasing. It can help you avoid costly surprises in the long term.
• HVAC maintenance: Given Austin’s hot climate, ongoing HVAC maintenance is essential. Ensure the system is in good working order, with no strange noises and check that the filters and ducts are clean.
• Ongoing maintenance costs: Budget for lawn care, gutter cleaning and appliance servicing. It might be a good idea to save 1-2% of your home’s value annually for unexpected repairs.

Cost of living in Austin

Housing expenses

Austin’s housing market is one of the primary factors driving up the cost of living. According to BestPlaces, Austin has a cost-of-living score of 129.1, which means the total cost of housing, food, childcare, transportation, healthcare and other necessities is 29.1% higher than the U.S. average and 37% higher than the average for Texasec-best-places-austin. 

Living expenses

• Utility costs: Utility costs in Austin generally include expenses for electricity, water, internet and other services. Specific amounts will vary based on your provider and usage.
• Groceries and dining out: Groceries come in a wide range of options at various price points depending on the location of the store and your shopping habits. Dining out in Austin offers unique culinary experiences, from affordable options to higher-end dining, catering to various budgets.
• Transportation costs: Major highways in Austin are Interstate 35, U.S. Highway 290 and State Highway 71. The main public transit provider in Austin is Capital Metro, which offers buses and light rail services (MetroBus and MetroRail).
• Travel: The primary airport serving Austin is Austin-Bergstrom International Airport, offering both domestic and international flights. This airport is about 10 miles southeast of downtown Austin.

Pros and cons of living in Austin

Pros of living in Austin

• Arts and music scene: Enjoy live performances, art galleries and year-round music festivals, reflecting Austin’s vibrant cultural landscape. Austin hosts major music festivals like South by Southwest (SXSW) and Austin City Limits (ACL), featuring top artists across different genres.
• Tech and job opportunities: Austin’s booming tech industry and thriving job market provide many career opportunities particularly in technology, education and healthcare.
• Cost of living: Compared to other major tech hubs like San Francisco and New York City, Austin has a relatively lower cost of living.
• Culinary delights: Austin’s food scene is diverse and dynamic. You find many exceptional BBQ joints and delectable, authentic tacos. Local farmers’ markets and annual events like the Texas Farmers’ Market provide fresh, regional ingredients and culinary experiences.
• Outdoor recreation: The city’s natural beauty offers plenty of outdoor activities. Popular spots include Mount Bonnel for hiking with panoramic views of Austin, Lady Bird Lake for kayaking and paddleboarding and Barton Springs Pool or Hamilton Pool Preserve for a refreshing swim.

Cons of living in Austin

• Traffic congestion: Austin experiences major traffic jams and has limited public transit options, leading to longer commutes and transportation challenges.
• Increased cost of living: Rising housing prices, high property taxes and overall expenses may affect your budget and impact affordability.
• Competitive job market: Securing employment could be a challenge, particularly in competitive industries, requiring extra effort and qualifications.
• Limited affordable housing: Finding affordable housing can be difficult due to the increasing demand, making it challenging for some homebuyers to find suitable options within their budget.

In conclusion

Embarking on your homebuying journey in Austin can offer a wonderful chance to enjoy the city’s high-spirited environment, dynamic job market and unique neighborhoods, making it a desirable place to settle down.

There are a few key steps to ensure a smooth and successful homebuying experience such as getting prequalified, obtaining a preapproval letter from a lender and working with a real estate agent. Check out down payment assistance programs such as Home Sweet Texas Home Program and Austin Housing Finance Corporation (AHFC).

You can also utilize the Chase city vs. city website (Ex: Austin vs. Washington, D.C.) to explore a range of properties, browse homes by zip code and gain insights into neighborhoods, amenities and local attractions.