Austin - Buy a house on H1B

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Feb 12 19 Comments

With apple announcement and other optimistic business news , is it work buying a house in austin ?
looking for at least 3% appreciation per year for next 10 years or so

Concerned about possible 20% correction due to a recession

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TOP 19 Comments
  • New hpGM70
    Same situation as you and I did. The market is much better for buy than rent right now.
    Feb 12 2
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      OP
      Where did you buy ?
      Feb 12
    • New hpGM70
      I bought in lake Travis school district market there was cold and I got a good price and good schools. Last house I kept for 13 years so I am going got the long run
      Feb 12
  • Broadcom Ltd. honestkid
    You buy home for living and not an investment. No one can predict future you can just hope it is better. You do what is in your control
    Feb 12 2
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      OP
      Absolutely fine with me but as mentioned just concerned about any corrections , Since I am planning for short term
      Feb 12
    • Indeed 6m2xi96
      There will be no massive corrections in Austin market even during a recession. The local economy is absolutely storming and will be insulated from even a national economic slow down. You would probably experience flat prices for a year or so. The only negative for you is the real rocket ship growth phase for Austin was 2012-2017 when home prices literally doubled across the city.
      Feb 14
  • Investment or primary?
    Feb 12 4
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      OP
      Primary
      Feb 12
    • For primary , it's not that tough a decision ... for 300k 5% loss is 15k....a lot of it would be recovered in tax breaks..... talking about worst case scenario. Besides living in a house is priceless , more so if you are raising a family.
      Feb 12
    • PayPal GkNQ32q
      OP
      How come 5% drop is a worse case scenario , I have seen drops like 20-30% during recession
      Feb 12
    • Homeaway skinnyguy
      In Austin? Show me the stats on that plz
      Feb 12
  • PayPal GkNQ32q
    OP
    Is apple announcement to add jobs worth anything ?
    Feb 12 1
    • Splunk gdetes
      No - Austin real estate has been super hot for the last decade. Apple announcement doesnโ€™t change anything
      Feb 12
  • Google / Eng big๐Ÿ’ฐ
    For 3% get a CD
    Feb 12 1
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      OP
      Not really an investment , just to live well but some want to loose money . At least 3% appreciation is equivalent to paying rent otherwise
      Feb 12
  • If you are staying there for the long term then definitely buy.

    5x low cost leverage and tax free appreciation. You also get to live rent free.
    Feb 12 0
  • New ktFx33
    Hmm with H1B.. not sure. Because the buying is usually only worth it if you live at least 5 years in it. Transactions costs are insane with a house buy and sale. And yeah itโ€™s easiest to make money with a house if you live in it yourself.. you have more control over its state etc
    Feb 12 0
  • eBay BigSanta
    Home isn't an investment. Stick with stocks index fund etc. If you're settling down and wanting a family go for it, but doing expect much. You will be putting money into the house every year.
    Feb 12 0
  • Intel haksun
    No. Buy a small one
    Feb 12 0