11/18/21 Boy Is Getting Ready To Leave The Nest?

     I know it's time and if this was 5-7 years ago I would be finding ways to slow the process down, but Boy is quickly approaching his 30's, so it makes sense that he wants to set out and buy his own house.  The only problem is that we live in Austin and the housing market is really not helpful for a starting out young person trying to make it on their own.  The median house price is now closer to $500,000, so the possibility of finding something in the $200,000's is almost impossible, unless he wants a "beater" house that is going to require extensive work, to that we say no.  We were discussing his finances and he thinks between his girlfriend and him they could possibly afford something close to $2000 a month.  This probably puts them in a house around $300,000.  This might be possible, if they move quickly and probably look out around Kyle or Buda.  I doubt anything in Austin is going to be in that price range.

    I went out, really to the next major exit point past Slaughter, that is where toll road 45 connects with I-35 and there is a new community that just opened out there.  It seems like a good spot, go out one side and the toll road is right there, or pop out the other way and you can be on I-35 in two minutes or so.  I really like that the builder is Meritage Homes and I have always liked them, they were voted best house builder a few times in a row when we were shopping for our house, so they know what they are doing.  I liked how the community is laid out, the terrain is a little hilly so it is possible to have some decent views, if you pick out the right lot.  I went out alone mostly because I am free during the day, but I want to scout what is out there to help Boy if he is really ready to do this.  I was a little set back by the saleslady, nowadays you need to schedule a visit, which I did, but even though the online information said the houses started from around $317,000, she was quick to say that houses really started from the $350,000s.  This starts becoming harder to do, and the longer he waits, the prices will only keep climbing.

    This really kind of sucks for any new home buyer, we bought our house in 2007, for $340,000, but it is a 4000 sq ft beast of a house.  These houses being sold for $350,000 are barely the size of our first house, around 1200 sq ft.  The size is fine, I guess, for a young couple, but they certainly are not getting the same bang for their buck that we did.  Still, if the markets keep doing what they are doing, maybe if he buys this house, in 5-10 years, he will have enough equity and be able to sell this house and move into something bigger with a good chunk of money from the sale of this first house.