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April 28, 2019 ashbyadmin

Is Now the Right Time to Invest in a Custom Home in Austin?

With a local market that has been characterized as being on fire yet with a limited housing inventory, now could be the right time for you to invest in building a custom home in Austin. Austin recently topped the list of the 10 fastest growing cities in the country. Based on a population analysis released by the Census Bureau, the report showed that Austin has a population of just under two million people and has experienced a population growth rate of 2.6%. While Austin may be one of the hottest housing markets in the country right now, many buyers coming to the area have found a limited number of existing homes available.

Overall, the state of Texas currently has a population of around 26 million people. State demographers have estimated that number could more than double by the year 2050 to reflect an increase of 120%. Due to such a rapid and vast growth, the state will need a dramatic increase in housing to keep up with the pace of demand.

Between 2000 and 2010, approximately half of the state’s growth stemmed from migration from other states. Many of the people coming to Texas during this time relocated to the Lone Star State from states such as California, Florida, Oklahoma, Illinois, and Louisiana in order to take advantage of Texas’ booming job market. A large percentage of those people were looking to settle in and around the Austin area including Leander , Georgetown, and Round Rock and the influx is not over.

Texas is certainly a big state, the largest in terms of land mass in the Lower 48, but approximately 70% of the estimated future growth will likely settle in the heart of the state. With continual economic growth opportunities luring transplants to Austin and the surrounding area, more homes and quality neighborhoods are needed. Consequently, investing in a custom built home today makes for a great future investment.

Building a custom home in Austin or the surrounding area today will give you and your family the opportunity to enjoy years of wonderful memories living in a home that is customized to your specific needs. When you are ready to downsize or simply make a change in the future, you can benefit from knowing that your home will make an excellent addition to a future market that will need homes such as yours.

The most recent reports indicate that home prices in the Lone Star State have hit new highs. In January, home prices reached a 10% increase over last year. While much of the state experienced record-breaking winter conditions, complete with rare snowfalls, those winter temps hardly seemed to faze homebuyers.

While now is clearly a great time to consider investing in the construction of a new home in Austin, there are a few tips to keep in mind to ensure that your home is as attractive as possible if you decide to sell it in the future.

Include Energy Efficient Features
With more buyers focusing on the importance of energy efficient homes, including those features in your custom home now can help you to save on utility costs while you own your home and make it more appealing to buyers if you decide to sell in the future. Investing in green upgrades while building your custom home is also a good way to boost its value down the road. Tankless hot water heaters, water saving plumbing fixtures, and renewable flooring choices are all great choices.

Make Your Kitchen a Centerpiece in Your Home
The kitchen is still considered the heart of the home. Make sure your kitchen suits that concept by making it stand out in your home. Cabinetry forms the largest percentage of a kitchen’s overall appearance, so opt for custom cabinets. Add in custom features such as wine racks, crown molding, custom woodworking, and glazing to ensure that your kitchen makes an impression.

A Usable Garage
In the process of designing your custom home in Austin, be sure to include plans for a usable garage. Not all homes in the area have garages, ensuring that homes that do possess this feature have increased value. You might also wish to consider completely finishing your garage so that it can be easily converted to alternant living space in the future. With a rapidly aging population of parents, many homeowners have found that a fully finished garage can be quickly converted into an independent living suite for parents, perfectly fitting the “sandwich” generation in which many people find themselves today.

You Can Never Have Too Many Closets
Be sure to include ample closet space in the plans for your new custom home. The general rule of thumb is that a home can never have too many closets. Storage space is often considered a premium in most homes.