Live in, fix, then rent: thoughts and advice welcomed

[Nicholas Sanchez]

Townhome 2 bed 1 and 1/2 bath , two story. 955 sqft has a decent little fenced patio/yard section.

Price $225k

5% down rate around 7.95%

Will be my primary residence, Austin Tx, area is decent, breweries, food trailers, close to shopping center, and soccer stadium.

The residence isnt terrible just needs a few things, kitchen appliances, remove carpet for plank vinyl.

I know it won't cash flow right out the gate , I can maintain the monthly note and have a 6 month emergency fund. Goal is to live in it for 2-3 years, upgrade it within reason before moving on.

This pricing point is within my range (I know it's low for Austin), I have an investment property in a different city in Texas so my DTI won't allow more mortgage . I will try to negotiate closing cost with seller if I move forward.

Wanted to ask ya'll if you think this is reasonable or is the market too uncertain to act unless it cash flows day 1.

My current living situation is I rent an apt for $1,000 and fulfills my needs. Do you think I am better off staying put saving cash and investing elsewhere or move into something like this, reducing my cash I can save monthly but securing this 2-3 year live in project in Austin in the mean time (speculating that I could refi).