At the start of a new year, many families take stock in their biggest investment – their home. In 2020, many homeowners will be asking tough questions:
Have we outgrown our current home?
Is the value of our home appreciating at the rate we expect?
Are our neighborhood and schools improving or declining?
Is our quality of life as good as it could be?
The answers to these questions and others have led many central Texas residents who live in Travis (Austin), Hays and Williamson counties to consider building a new home in one of the most family-friendly and economically robust communities in the United States: MorningStar (https://www.livingmorningstar.com/community/).
Is 2020 a good time to move up to this suburban oasis?
Home Value Appreciation is Critical
While the value of homes can vary dramatically in the United States, according to a report from the Austin Board of Realtors, Williamson County – where MorningStar is located – is a sweet spot for home value appreciation:
“Housing statistics in Williamson County continue to make strong gains. Single-family home sales jumped more than 15 percent in July. Home sales prices made modest gains. New listings increased more than 10 percent, which indicates stable housing growth for the area.” Here are some facts to consider:
- Single-family home sales volume increased by 15.4 percent to 1,205 sales
- Sales dollar volume jumped 19.8 percent to $387,644,203
- The median price for a single-family home slightly increased year over year by 3.8 percent to $292,000
Buying a new home in this red-hot area, seems to be a great investment in 2020.
Mortgage Rates Are Historically Low
Most real estate organizations and consultants predict excellent rates for home buyers in the coming year. According to this source, “If you’re planning to use a mortgage loan to purchase a home, you have even more incentive to act sooner rather than later. Mortgage rates are hovering at historically low levels right now. In mid – 2019, Freddie Mac reported that the average rate for a 30-year fixed mortgage loan dropped (again) to land at 3.49%. That’s the lowest it has been since October of 2016.” Mortgage rates haven’t been this low in nearly three years which suggests that now is a great time to buy a home.
Location, Location, Location
MorningStar is located a few miles north of Austin, one of the hottest economic and job creation spots on the planet. Not surprisingly, this economic juggernaut has had the effect of driving up the prices of Austin homes, condos and apartments and making suburban communities such as MorningStar much more affordable.
There are other “location” advantages that the residents of MorningStar enjoy:
- Top notch schools in the Liberty Hill district
- Resort-like amenities
- Modern freeways that make for short commute times from Austin
When these factors and others (such as quality of life and quality builders) are considered, 2020 is an excellent time to move up to MorningStar. Click here for more information.