Austin Real Estate FAQ

Top family neighborhoods include Westlake (Eanes ISD - Texas's #1 rated schools), Circle C Ranch, Steiner Ranch, Mueller, and areas in the Lake Travis ISD like Lakeway and Bee Cave. School district quality is often the primary factor for families choosing a neighborhood.

The typical timeline is 30-45 days from accepted offer to closing. The search phase varies widely - some buyers find homes quickly while others take months to find the right fit. Being pre-approved and ready to act when you find "the one" speeds up the process considerably.

Buyers should budget 2-5% of the loan amount for closing costs. On a $400,000 home, expect $8,000-$20,000 in closing costs including lender fees, title insurance, prepaid taxes/insurance, and other fees. Some sellers may contribute to closing costs as part of negotiations.

Yes! Texas offers several programs including TSAHC (up to 5% down payment assistance), My First Texas Home, and the Austin Housing Finance Corporation programs. These can significantly reduce the cash needed to purchase. Learn more about Austin first-time buyer programs.

Austin property taxes typically range from 2-3% of assessed value annually. Travis County, Austin ISD, and other taxing entities combine for a total rate around 2.2-2.5%. Texas has no state income tax, so property taxes are higher than many other states. Be sure to factor this into your budget - on a $500K home, annual taxes could be $10,000-$15,000.

The homestead exemption reduces your taxable value for your primary residence. You get at least $100,000 off for school taxes, plus additional exemptions from the county and city. This can save thousands annually. You must apply after purchasing - it's not automatic.

Home insurance in Austin typically ranges from $2,000-$4,000 annually for a standard policy. Factors include home value, age, location, and coverage amount. Areas in floodplains require additional flood insurance. Get quotes from multiple insurers before closing.

Austin has seen strong appreciation driven by tech job growth and population increases. While prices have risen significantly, the long-term outlook remains positive due to continued corporate relocations and limited housing supply. Cash flow can be challenging at current prices, but appreciation potential is strong. Read our Investment Guide for more details.

Market conditions fluctuate. Austin shifted from a strong seller's market (2020-2022) to a more balanced market. Current conditions vary by price point and neighborhood. Luxury homes tend to have more inventory while starter homes remain competitive. Contact us for current market analysis.

Austin's high prices are driven by: tech job growth (Tesla, Apple, Google, Oracle), limited housing supply due to geography and regulations, quality of life attracting relocations, no state income tax, and strong population growth. Compared to coastal tech hubs like SF or Seattle, Austin still offers relative value.

Average days on market varies by neighborhood and price point, typically 30-60 days in current conditions. Well-priced homes in desirable areas can sell within days. Read our Selling Guide for tips on selling faster.

Sellers typically pay: real estate commissions (5-6%), title insurance for the buyer, prorated property taxes, any negotiated repairs, and HOA fees if applicable. On a $500K sale, expect $30,000-$40,000 in total seller costs.