Rent vs buy in Austin

Renting vs Buying in Austin, Texas

I always advise my clients when they are searching MLS for homes, that they actually plan on staying in that home for at least 3 years, and even that is cutting it close. The fact of the matter is that we will have a recession at some point. It may not be next year but it will happen. And that’s why we advise on 5 years to be a safer bet for appreciation and being able to sell your home with enough equity to move up in the house when you buy the next one.

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Buying to trade up in just a couple of years is risky unless the person plans on doing a lot of work themselves to improve the property. Without that, the target trade up house is probably increasing in value too. That’s not going to help.

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So unlucky. When trading up, you wish that it is a bear market and the mortgage rate is low :grinning:

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What’s the exact difference between renting and buying price in Austin?