Is the American dream all about buying a home in Texas or California or New York or any of the other thousands of cities across the country? Or is it really about moving up and up and up to bigger and better homes in whatever city you’ve chosen? That’s part of the premise of this new Realtor.com article that took a look at the “10 Places where trading up is toughest” for those looking to buy a home.
“It might be time to move to a bigger home. After all, that's the home-buying circle of life! Right? Not so fast,” they said. “You may have thought that getting one foot on the ladder of homeownership was the hardest part, and that you'd easily be able to ascend to bigger, better, and more spacious digs as you moved up through life. But in fact, trading up has become an increasingly difficult prospect across the nation, leaving many homeowners stuck in their starter homes. Sometimes for good.”
But that’s not necessarily true when buying a home Texas. Here, home prices have been on the rise for several years but, thankfully, fall far short of the exorbitant prices in many other markets. This makes the idea of “moving up” a reality for those who choose to.
The new home and masterplanned development market in Texas serves numerous different subsets of buyers, from first-timers to those looking to move up to a larger home to individuals and families who want to buy Texas land to build their custom dream home. SouthStar communities is proud to provide beautiful and valuable solutions for each segment of the market, from the single-family homes of Mission del Lago in Southside San Antonio to the Hill Country homes of The Crossings in New Braunfels to the expansive Hill Country homesites at its flagship community, Vintage Oaks.
SouthStar also looks to offer a wide range of real estate offerings within their communities. Case in point: Vintage Oaks, which presents new custom and semi-custom homes, a wide range of land buying options, and just introduced its newest neighborhood, The Grove, with homes from three of Texas’ top builders on smaller footprints that have been a draw for retirees and pre-retirees looking for the Vintage Oaks lifestyle without the maintenance that comes with a large lot in the Hill Country. It’s not unusual for buyers to move into Vintage Oaks and later move up to another home, or move down to a lower-maintenance home that might be more appropriate for retirement.
Moving up in Texas
A recent report from Coldwell Banker Real Estate “found that Austin, Boerne and Georgetown have the highest average listing prices in Texas; the average listing price in Austin for a four-bedroom, two-bathroom home is $414,563. Boerne, northwest of San Antonio, trailed at $362,230 and Georgetown, north of Austin in Williamson County, was not far behind at $354,266,” said the Austin Business Journal. The data came from “51,000-plus properties…in 2,168 markets nationwide.”
What was perhaps most telling, but not necessarily surprising, was the disparity between Texas’ top price points and other popular cities across the country. The most expensive city on their list was Saratoga, in California’s Silicon Valley, at $2,453,718, followed by 10 more cities in California. Austin was No. 519 nationally, and, for reference, other Texas cities ranked as follows: “Houston comes in way down the list at No. 1,139 with a $274,061 list price, while Dallas is No. 1,383 at $240,689 and San Antonio ranked No. 1,500 at $227,024. The average listing price in Texas is $231,272.”
Also interesting is looking at how some of those markets rate when on industry insiders’ “best buy” lists. Forbes’ “Where to invest in housing” list for 2017 ranked a Texas city (Dallas) at the top and also had “the second most spots overall, with Forth Worth at no. 9 and San Antonio at 20,” they said. “The recession and housing crisis did not hit Texas quite as hard as the rest of the country, meaning it came back quicker and has been adding jobs longer and faster than the rest of the country. Opportunity and affordable housing led more people to move from other states to Texas in 2015 than any other state besides Florida.”
Forbes noted that while Austin was on the previous year's list and “would easily make a top 30 list,” they left it off this year due to the city’s rising home prices. Those prices haven’t deterred people from moving to the city; Austin remains one of the most popular relocation spots in the nation, but areas around the Texas capitol have also grown quickly, as buyers seek out options for enjoying the Hill Country’s natural setting and remain convenient not only to Austin but also to San Antonio. New Braunfels, homes to SouthStar’s Vintage Oaks and The Crossings communities, is the second-fastest growing city in nation for its size, and Vintage Oaks is the San Antonio-New Braunfels metropolitan area’s fastest-growing community for the last four years.
Want to learn more about buying land in the Hill Country, buying a home in the Hill Country, or living in San Antonio? Visit SouthStar Communities. You can also click below to learn why SouthStar is the leader in masterplanned development.