Tempted to Buy New Build in Fast Growing Area

[Eric Barnett]

The area is west of Austin, Texas (dripping springs) where there are hardly homes under 300k. My wife and I have a few properties about 20 minutes away and have been looking at new neighborhoods in dripping springs. Have found a new build for 370 all in with the lot being on a green belt on 2 sides. It is very tempting and a nice house that we could stay in for a bit. This is about as cheap as you will find in Dripping for this type of lot and quality. Renting out a few years from now may cover the mortgage but without a crystal ball I can't speak to this. We would be happy in this home for many years but it may limit our buying power (lending issues possible after). Anyone in the area please help if this is a bad idea. The neighborhood is Founders Ridge on RR12. Or someone talk me out of the "new nice house" purchase that is tempting. What would you guys do? Opinions and advice welcome. We are both in our mid 20's and would like to have a steady home but also continue building to our portfolio. Thanks!