homeowner is responsible for indoor maintenance, the exterior is largely the responsibility
of a management company appointed by
the homeowner’s association of the condominium complex. The Austin market has
become flush with high-rise lofts downtown
and in the University of Texas campus area,
making them good investments for students,
young professionals and empty-nesters.
Buyers want more options, and Austin
homebuilders have responded by building
more townhomes, garden homes and condos
to accommodate those desires. Find garden
homes, zero-lot line homes and condominiums in heavily populated areas like
Round Rock, Cedar Park, downtown and
south Austin. Find duplexes throughout the
city, usually sprinkled throughout a development to maximize development versus
higher property costs.
The inner city loft and condo developments
have become also more popular as the Warehouse District has rejuvenated downtown,
especially for those who have relocated
from larger cities like Chicago and New
York, where they live in the same building
they office out of, or don’t care about a yard
or living in an isolated format. Lofts in the
downtown and West Campus areas have
also become viable options for students
attending the University of Texas at Austin.
LAWS IN TEXAS
Before settling on the home of your dreams,
it’s important for future homeowners to
understand a few basics about Texas real
estate laws. A homestead is defined in Texas
as the place of residence for a family or
individual and is secure from forced sale by
The Texas Constitution guarantees the only
way a person can lose his or her homestead
rights is by death, abandonment, sale of
property, or foreclosure of a lien against the
homestead. Texas has two types of homesteads: urban and rural. In most cases, Texas
homeowners file for homestead exemption
as a way to help lower their taxes. To qualify
for homestead exemption, homeowners must
move into the property by January 1 of that
year. If a buyer purchases his or her home on
January 2, application for the homestead exemption must wait until the following year.
Once filed, a homestead exemption is valid
as long as the homeowner lives on the property and is using it as the primary residence.
If the homeowner moves out of the property
BE A WIND FAN
Wind can make kites soar
and chimes sing. Wind can
take care of your energy needs, too.
Be a wind fan the Austin Energy way.
A City of Austin program © 2016 Austin Energy
The housing market in Austin is
thriving and is an excellent investment
opportunity for homeowners.