I know you’ve been paying close attention to this crazy Hot Real Estate market. I talk to people everyday who have been thinking about buying on the lake, but that “just right” property hasn’t materialized yet. Here’s why this fall might be the best time to buy:
1-Typically November and December are the slowest months for real estate activity. This means as a buyer, you may have more buying power and be able to negotiate a lower sales price.
2-Location, Location, Location- For Central Texas Lakes this is 2-fold. First of all, there is a finite amount of waterfront property. They aren’t making anymore of it! And secondly, the incredible growth that Central TX is experiencing with Tesla moving to Austin is bringing more people to the area who want a nearby option for a weekend getaway.
3-Piggybacking off of that idea of a weekend getaway- lots of people want that experience without owning a second home. And there are several neighborhoods around Lake LBJ and Lake Travis where short term rentals are allowed, which means a savvy investor can purchase a second home and have the rental income to cover many, if not all of the home’s expenses. Think about that, let your lakehouse work for you, while you sit back and enjoy the appreciation!
4-Interest rates are still low- This is a big one. It plays a huge part in affordability for buying a home and helping you get in and start leveraging your lakehouse.
5-Finally, since the lake market is a little slower in the fall, it means you will have less competition when trying to buy and a better chance of winning the contract! This one has been a real challenge lately and buyers have been missing out. Don’t give up now when you might have a little more time to put together the right offer.