6 things you need to know about buying a condo in Austin
1. Hire a Specialist
Working with someone who understands how a condo operates is incredibly important. Understanding HOAs and the documents required. Before buying a condo you need documents like insurance coverage, HOA meeting minutes, condo resale certificates, etc. Having an agent help you make the best decision and help you prepare can make a HUGE difference.
2. Asses the Amenities
Understand what the building has to offer and whether or not it will fit your lifestyle. Do the HOA fees match the level of amenities? Austin is notoriously a city where the people spend the same amount of time working as they do playing. Looking for a condo with a club house, pool, and 24 hour desk presence, would be in your best interest if you like to play too.
3. Check out the Neighborhood
This should be obvious, but make sure you check out the neighborhood. Is the condo gated? First floor? Parking garage? If you aren’t in the best neighborhood, then it’s probably not for you. Is there a train near by or new construction site around the corner? The last thing you want to do is move into a noise box!
4. Analyze the Homeowners Association Meeting Minutes and Rules
By gathering the information from the HOA meeting you can get a better understanding of how the community is run. Who is in charge? Do all the tenants have an opportunity to speak up? Make sure you ask the critical questions before closing. This information should be gathered by your real estate agent.
5. Review the Rental-to-Owner-Occupied Ratio
If you’re thinking you’ll need a loan, it’s important to gather this information. It’s important to know how many units are rented versus unoccupied or owner-occupied. Ut also gives you a better idea of the average tenant is like....
About Railyard Condos
The Railyard is one of downtown Austin’s most affordable and unique condo buildings. Its two low-rise buildings, recognized for their Southwestern architecture, offer an experience of urban living on a budget without compromising on style. These 1-3 bedroom units include in-suite washers and dryers, hardwood flooring, carpeted bedrooms, multiple bathrooms, granite countertops and balconies. Residents can also enjoy the community outdoor pool and patio.
Railyard Condominiums are unique compared to other downtown Austin condos due to the fact that they offer short-term rentals. Railyard owners can open up their condo units as a vacation-rental-by-owner during SXSW, ACL, F1 and other conventions and yield more rent during those events than the total rent from a typical 12-month lease.
The Railyard Condominiums are located on 4th Street between Brazos and Trinity in the heart of downtown Austin. Lady Bird Lake, museums, dining, shops, bars, yoga studios, and entertainment venues are all within walking distance from these condos. It is also on a major bus route so it’s really easy to get to where you need to go without a car.
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OPEN HOUSE ALERT
Join us this Saturday, June 16th, 2018 from 11 AM - 1 PM for your opportunity to view this charming Oak Hill Condo.
6718 Silvermine Drive. #901
$169,997 | 1,062 Sq.Ft | 2 Bed | 2 Bath
Amazing condo in a great location. Airy open floor plan, tile and wood floors, many updates! Located near Y at Oak Hill offers easy access to downtown, Lakeway, Dripping Springs, and other Greater Austin Areas. From the private patio to the easy flowing living/dining spaces along with the community pool, ample area for friends and family to gather. You are going to love your new home!
Click here to learn more about this amazing Southwest Austin Condo!
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6718 Silvermine Drive. #901
$169,997 | 1,062 Sq.Ft | 2 Bed | 2 Bath
Amazing condo in a great location. Airy open floor plan, tile and wood floors, many updates! Located near Y at Oak Hill offers easy access to downtown, Lakeway, Dripping Springs, and other Greater Austin Areas. From the private patio to the easy flowing living/dining spaces along with the community pool, ample area for friends and family to gather. You are going to love your new home!
Click here to learn more about this amazing Southwest Austin Condo!
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Join us this Saturday, May 26, 2018, from 1-4 PM for a Southwest Austin Condo Open House. This spacious end unit is located in the ever popular Laurels at Legend Oaks Community and is conveniently located near an abundance of shopping, dining and entertainment options. The condo features vaulted ceilings, a floor to ceiling fireplace and a nice-sized kitchen open to the living and dining areas. All of the rooms are well-sized, and the spacious flex room upstairs would make the perfect game room or home office. The private backyard features lots of greenery and a quaint covered porch.
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Spring Condos is Austin's first "Point Tower" with 44 floors of residential and shared use space located in the hip Market District of Austin. Spring stands 132 m (433 ft.) over west Austin. It was designed by Vancouver–based architect Foad Rafii.
The Spring is one of the most popular condo buildings in Downtown Austin. It offers its residents unmatched privacy, maximized floor plans, and amazing corner views from almost every unit in the building. One, two, and three bedroom homes feature hardwood floors, carpeted bedrooms, modern kitchens with granite countertops and high-end appliances. Each unit makes the most of the views with large floor-to-ceiling walls of glass and private terraces.
This skyscraper features a handful of amenities. There is a resort style pool at the rooftop with outdoor kitchen and dining. Two guest suites are available for visiting friends or family. Other amenities include a fitness center, full-service concierge, club room, meeting room, and a welcoming resident’s lounge.
Conveniently located in the downtown Austin area, it is within walking distance to Town Lake, ACL, Whole Foods grocery store, the hike and bike trail, and the beautiful Lady Bird Lake. Spring Condos offers a true urban living experience close to restaurants, shopping, and nightlife.
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The Giant's starting quarterback sold his waterfront home in Hoboken, NJ for $3.55 million - a record-breaking price for the area. This is the most expensive price anyone had paid for a condo in the city's history. The second most expensive residential sale was $3.3 million back in 2015. 
This stunning three bedroom, three-and-a-half bathroom home in Frank Sinatra's old "hood is in the Hudson Tea Building," which was once the headquarters and factory for ever-popular Lipton Tea. The condo features 10-by-12 foot windows that overlook the Hudson River, a state of the art chef's kitchen, and a master suite wing.
Manning and wife, Abby McGrew have lived in the condo since 2008 when they moved to accommodate their expanding family. This posh pad has a famous history including, former Giants star Jeremy Shockey, "The Bachelor" star Jesse Palmer, boxer Arturo Gatti and an ex-NJ governor and ex-senator Jon Corzine.
Are you looking for a Condo in the Austin Area? The Austin real estate market is full of condominiums all vying for the attention of buyers. Our team specializes in condominium listings and sales, and we’re here to help you sort it all out. There’s a lot more to getting the right Austin condo at the best price and without hassles than just loving the floor plan and the view.
We have worked with quite a few Austin condominium buyers, and we’ve found that the way to assure happy clients and repeat and referral business is to provide the most knowledgeable and thorough condominium buyer service package available in the Austin real estate...
Condos aren’t for everyone, but you’ll find that there are a whole lot of people very satisfied with their condominium lifestyle in the Austin real estate market. We wanted to highlight a few things here as tips about a condo lifestyle and whether it’s for you instead of a detached single family home.
It’s not maintenance–free, but it’s close! The condominium association pays for and supervises the exterior maintenance and repairs to all units and common areas. You won’t be mowing the lawn on a beautiful Saturday morning.
You save money on some things. The association normally covers water, sewer, common area and exterior upkeep, and trash services. The fees you pay are normally less than you’d pay individually for these things. You only pay for interior walls and personal belongings insurance, as the association pays to ensure the structures.
You do trade off some control and decision–making ability. There will be rules to keep the exterior look uniform throughout the project, and there will be limits to what you can do to the inside of your unit as well.
Neighbors are closer. With units having common walls, there is more opportunity to get to know your neighbors. The common areas will provide enjoyment for all, but some sharing is necessary.
You have a voice with your vote. As a member of the condo association as an owner, you can participate in decisions that influence your property and how you enjoy your ownership.
Let Cain Realty Group help you with more information about condominium ownership in the Austin real estate market.
Give our team a call to schedule a no-obligation buying...
About Brazos Place
Brazos Place is a 14-floor high-rise located at 8th and Brazos in exciting Downtown Austin. Completed in 2008, Brazos Place Condos, or lofts rather, feature concrete floors, exposed ceilings, and the most upscale and current interiors around. Brazos Place lofts vary from studio-sized (378 square feet) to 3-bedroom penthouses and are priced anywhere from $250K to $1.5M, depending on their size. Just a few blocks from the Texas Capitol, Brazos Place residents live in and near some of the most historic areas in Texas.
Apart from the rich history surrounding Brazos Place, residents can also take advantage of the nearby entertainment, retail, and dining—some of the best in town. With Stubb’s Barbeque, a popular concert venue and restaurant, the Alamo Drafthouse on 6th St, and some of Austin’s finest art galleries close by, Brazos Place residents will never have to travel far for a good time. Amid the history and exhilarating atmosphere of its surroundings, Brazos Place offers one of the best places from which to enjoy all that Downtown Austin has to offer. Brazos Place is located at the intersection of Brazos Street and 8th Street. The zip code for Brazos Place is 78701.
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After years of touring apartments, John and Kim Andrews of Laguna Hills were soon to give up on finding a spot in their beloved New Orleans area. The Andrews typically looked in industrial buildings and had yet to find anything that really knocked them out.
The couple recently walked by the sales office of the Standard, still under construction. The building, designed by Morris Adjmi, offers 89 luxury condos, an outdoor pool, outdoor kitchens, a concierge, and covered parking. This property included features that reminded Mr. Andrews of the properties in New York or Los Angeles. They signed a contract for a 1,407-square-foot two-bedroom with two baths for just over $1.1 million.
For the first time, New Orleans has a critical mass of luxury condos set to enter the market, deluxe finishes and amenities included.
"Developers—some local business people relatively new to real estate—are betting they can lure a more discerning, affluent buyer: empty nesters shedding suburban houses for the city’s walkable downtown, and newcomers ready to buy into the Big Easy’s eclectic lifestyle."
To learn more about various Luxury Condos construction in the U.S click here.
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Sabine Condos
The Sabine On 5th Condos is a former iconic office building in downtown Austin recently renovated and repurposed into residences. It is located on the banks of Waller Creek, between 5th Street and 6th Street. This unique location gives Sabine Condos distinct views of the State Capitol, University of Texas, Lady Bird Lake, and the Hill Country.
Sabine Condos houses 80 units with floor plans ranging from one-bedroom units, 600 square feet, to two-bedrooms with 1400 square feet. It features stained concrete floors, massive windows, soaring 11' ceilings, stainless steel appliances, maple cabinetry and contemporary kitchens and baths with stunning glass tiles.
The building is close to chic cafes, museums, theaters, and a variety of Austin venues, perfectly blending prestige with trendiness, luxury with affordability. It is adjacent to the Red River District, with 3 blocks of live music venues and close to the famous 2nd Street District with a wide range of restaurants, shops, outdoor cafes, museums and outdoor activities in the nearby Town Lake complex.
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About Riverwalk Condos
If you are looking for an established condo community in South Austin with peaceful surroundings and a short commute to the heart of the city, then look in the way of Riverwalk Condos. The 144-unit condo development boasts a strategic location for individuals who need to be in downtown for work and at the shores of Lady Bird Lake for fun on weekends. A gated community with a diverse mix of residents, living in Riverwalk Condos means you can mingle with students, career professionals, and retirees alike. Truly a gem, the spacious units of Riverwalk Condos can offer you two- and three-bedroom layouts, each with their own exterior entrances and a share of the well-tended community landscaping.
Residents can choose between hiking at the 10-mile Lady Bird Lake Hike and Bike Trail, kayaking on sunny weekends, or a simple dip at the well-maintained community pool. Big Stacy Park and the Blunn Creek Nature Preserve are close by too-- perfect destinations for short day trips on weekends. For shopping and dining options, Riverwalk Condo residents can simply head to South Congress Avenue and the myriad of shops and food bistros that can keep you urban busy the whole day. Thanks to its close location to downtown Austin, it’s easy to spend time in the concrete jungle when you want to, or simply relax in the tranquil setting of your home when you feel like it. If what you need is a peaceful home right at the center of the action, Riverwalk Condos is the home for you. Located off of East Riverside Drive between Alameda Drive and Newning Avenue, the condos are on the shores of Lady Bird Lake and use a 78704 zip code....
About Austin City Lofts
Austin City Lofts feature living spaces that can be described as a mix between a simplistic-modern and elegant, embellishments influenced by European architecture. All lofts include floor-to-ceiling windows, as well as access to the pool and fitness center located in the building; perfect for a relaxing finish to any day. Austin City Lofts for sale range in price from the mid $300’s to $1.3M, and include everything from smaller, 1-bedroom lofts, to the penthouses located on the top floors of the building.
For those living in Austin City Lofts, everything is walking-distance from the building, making it easy to grab a quick bite at Frank and Angie's Pizzeria or enjoy the night-life of West 6th St. Austin City Lofts offers luxury and convenience for those looking to live in the heart of downtown Austin.Austin City Lofts is located at the corner of West 5th Street and West Avenue. The zip code for Austin City Lofts is 78703.
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1829 Coronado Hills Dr.
Welcome to Coronado Hills. Situated in a secluded neighborhood with easy access to cross town highways. Enjoy over-sized bedrooms, welcoming kitchen and living dwellings, refined wood and lavish finishes throughout interior and exterior. Beautifully equipped media room and surround sound system to allow for comfort and ample opportunity for guest entertainment! Luxurious backyard resort-style pool, outdoor kitchen, and patio provides for an instant vacation featuring waterfall, hot tub, covered patio overlooking greenbelt and beautiful Austin hill country.
Easy access to beautiful Downtown Austin and close shopping in the area. With a plethora of community amenities such as tennis courts and pool, undoubtedly this fantastic home will be top of mind for all that have the opportunity to view it.
For more information about this listing, please click here.
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Buying a condo is just like buying a home-- it has its pros and cons. Condos are cheaper, rarely requires you to do "the dirty work" (thanks to shared maintenance), and provides you with great amenities such as gym membership, pool use, and other facilities that are available in the property. However, the downside of living in a condo is that monthly dues are expensive (you don't do your landscaping but you're paying someone to do it for you) and you have to strictly comply with the rules of the condo board that regulates condo living.
To prepare yourself for the condo life ahead of you, you have to ask these important questions to your condo board to know what to expect before you actually purchase or move in:
How much is the monthly fee?
Condos charge a monthly fee that pays for the entire upkeep of the residential building. Ranging from $200 to $400, this monthly fee covers costs OUTSIDE your condo such as pool maintenance, landscaping, security, etc. Since you're going to pay this every month for the next X number of years that you're going to live in the condo, you have to ask the board exactly what your monthly fee covers. A general rule of thumb is that anything outside your condo should be taken care of by the board. The maintenance INSIDE your condo, on the other hand, should be taken care of by you.
Can I see the financial statements?
Condo owners are entitled to see the condo's financials, and you as a [future] condo owner should check this out. The financial statements will tell a story about your chosen residence: too much money going out compared to what is coming in almost always means "mismanagement" and headache for you as a future condo owner.
Are there assessments scheduled in the near future?
Assessments are one-time payments that cover capital improvements and repairs. If you are going to buy a condo, you have to ask if there is...
Good news for all condo buyers-- the H.R. 3700 or "Housing Opportunity Through Modernization Act"-- was finally signed into law by President Obama. Hailed as a "significant step" by the National Association of REALTORS®, the new law will eliminate barriers that prevent buyers from acquiring safe and affordable mortgage credit for condos. NAR has been a staunch supporter of the bill and has lobbied in Congress for its passage. Realtors believe that the passage of the bill will help buyers across the country who look into buying a condo as a cheaper option for their first home or investment.
The newly-passed law will make the Federal Housing Administration’s recertification process “substantially less burdensome”. NAR also reports that the law will lower FHA’s owner-occupancy requirement from 50% to 35%. Lastly, the law requires the FHA to replace an existing policy on transfer fees with a less-restrictive model that has been previously adapted by the Federal Housing Finance Agency. Ultimately, the law will help qualified potential home buyers to buy their own home in spite of tight housing inventories, fast-rising home prices, and strict mortgage credit underwriting guidelines, among others.
To know more about this newly-passed law, you can access the original article from which this post was based at the official REALTOR® website.
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