New Neighborhoods South Austin
List of new neighborhoods in South Austin
NEW CONSTRUCTION IN SOUTH AUSTIN
Housing demand continues to be at an all-time high in central Austin, and properties priced under $500,000 are continuing to sell quickly. Because of the high demand and low inventory, new homes are popping up along with new neighborhoods. For a buyer in Austin’s market, it’s good to keep your options open and a new home may be something to consider. With new construction there are 2 basic options: production homes and custom homes.
A production home involves similar housing designs used over and over. These are typically seen in neighborhoods that are built by large-volume home builders. Builders typically provide a buyer with several floor plans for one neighborhood, with a menu of upgrades and customizations to choose from. Builders may also have “spec homes” in these neighborhoods. The term “spec” is short for speculative home. This is when a home is built with no particular buyer in mind. This limits your options to pick out customizations because a spec home is typically bought during or after production.
Another route is to build a custom home. If you’re an indecisive person, I would not go this route as this is truly a one-of-a-kind build. The buyer has complete control over the development and all design. Your options are endless! Just keep in mind that this option will be a bit more pricey, depending on what you pick out. Also, think about timing. If you buy a resale home, you typically can move in within 45 days after your offer is accepted. A custom built home can take, on average, 5 to 6 months.
Remember it’s important to have your own Realtor guiding you through this process. They are free to buyers (the seller/builder pays commissions) and are hired to look out for your best interest. When buying new construction, don’t be fooled into thinking the builder’s representative can serve as your real estate agent. They are representing the builder’s interest, not yours.
Zip Code: 78704
Zip Code: 78745
Zip Code: 78748