Home in Austin Suburbs

[Rebecca DuPuy]

Hello! My family and I are planning to move to Austin in about 2-3 years. I'm considering buying a home this year in a suburb of Austin and renting it out until we're ready to move. I've heard Austin housing prices are continuing to sore so my thinking is we should get in sooner than later. I'm not necessarily trying to make money off the property, breaking even each month would be nice. The goal would be to buy a home that my family could move into and stay in until my husband and I are old. My thinking is why wait to start investing in ourselves. 

Cedar Creek and Round Rock have stood out to us so far but open to explore other areas. We're able to put 20% down and will have enough in savings for emergencies, repairs, house sitting empty for an extended period of time, etc. My question is, is this a stupid idea? Should we just wait until we're ready to move? Do people rent homes in the suburbs or typically buy?  I honestly don't even know where to start with all this. Any advice is welcome! Thanks :) 

[Stephen J Davis]

I love the idea. I love both your locations of choice. However, do you know how to screen tenants and run the property? If not, take a course. The $500 or $1000 will be well spent and way less than hiring a property manager.

Don't over buy though. Get exactly what you need and don't go crazy. A home (unlike a rental property) is not an asset, it is a liability. All that money comes out of your pocket each month after you move in.