02 July . 2019
Declare your independence from renting with 15 homebuying tips
If you’ve been thinking about declaring your independence from renting, there’s never been a better time. To help you start enjoying the many benefits of owning your own new home in Austin, we have 15 pieces of advice for getting started.
Rates are low
Today’s historically low interest rates are a gift for homebuyers. Average rates for fixed-rate 30-year mortgages have been steady at around 4% or even lower. This translates into lower monthly payments that can save tens of thousands of dollars, or even more, over the life of the mortgage. Lower rates can also help you qualify to buy a more expensive home than you could at higher rates.
Rents are rising
Austin is one of the U.S. cities where rents are rising the fastest. Austin’s economic growth and emergence as a major tech city are terrific news, but they’re also pat of why rents are expected to steadily increase through 2020. When you own your own home, you lock in your monthly housing expense and start to build equity that you can grow, or invest in a larger home down the road.
Millennials and homeownership
Austin is one of the top U.S. cities that Millennials are flocking to. Austin’s relative housing affordability, compared to the rest of the nation, is a big reason why. Communities like Rancho Sienna combine new homes priced from the low $200,000s with great amenities and convenient access to all that Austin offers.
Owning is better than renting
Homeowners have a net worth 44 times greater than renters, on average, thanks to the equity-building benefits of owning your own home. And that’s just for starters. See 13 reasons why it’s better to own than rent.
Can I afford a new home?
Understandably, one of the biggest questions when starting to think about buying your first new home is, “What will my monthly payment be?” Learn more about what makes up your monthly payment and how to estimate what it will be.
New homes beat used homes
From integrating the newest technologies to enjoying the peace of mind provided by a warranty, there are many reasons why new homes are better than used ones.
The right place
Austin has a reputation as a pricey city for housing, but in truth, Austin is Texas’ top city for first-time homebuyers. Austin ranks No. 14 for first-time homebuyers among the 50 largest cities in the U.S., thanks mainly to relatively affordable new homes available in close-in suburbs like Georgetown. With new homes priced from the low $200,000s, Rancho Sienna offers a master-planned community lifestyle at a price point that’s affordable for many first-time homebuyers.
Time to move?
How do you know when it’s time to move? From needing more space, to a nagging feeling that “something’s missing” from your lifestyle, read about
8 possible signs that it might be time to move.
First-time Homebuyer Quiz
From the misconception that you need a 20 percent down payment to buy a new home, to the idea that it’s cheaper to rent than own, there are some nagging myths out there that could discourage you from pursuing your dream of owning a new home. Debunk those myths and learn the truth with our quiz.
Avoid homebuying regret
You’ve probably heard of buyer’s remorse. Did you know that “neighborhood regret” is also a thing? Learn four ways to avoid neighborhood regret and make sure you choose a community you’ll love living in for many years to come.
Suburbs vs. city
Most people agree that homes in the suburbs are much more affordable than those in the city, but there are other reasons many people prefer life in the ‘burbs. See five reasons living in a thriving suburb like Georgetown offers advantages over residing in the city.
What’s the difference between a master-planned community (MPC) and a subdivision? Many people know that MPCs offer a lot of amenities and activities, but there’s also the misconception that living in an MPC costs a lot more. Learn more about the value and benefits of MPCs like Rancho Sienna, and the broad range of home styles and price ranges available.
Who are the players when you buy a new home? From the builder sales consultant and the inspector, to the title clerk and the developer, our blog explains who’s who, so you’ll be an expert on the experts.
Quick move-in, or build?
Communities like Rancho Sienna offer a wide variety of new homes available for quick move-in, so you can touch, see and feel the new home you choose, and move in pretty soon. There are also advantages to building your new home from the ground up, which takes about 90 to 120 days, on average. Learn about the 10 steps of building with our guide.
Love your community
One of the best ways to learn more about a community is to ask some residents who already live there. For a head start, here are 10 reasons Rancho Sienna residents love their community, and why you might love it here too.
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