what are the pros and cons of living in an apartment in Austin ?

1. It’s Austin and Austin is awesome.
2. Figure out how to buy. Don’t throw your money away renting. Let me know if you need creative financing like seller financing or hard money to get you started.

The pros and cons of living in an apartment in Austin really depend on each individual's situation and only you can answer that question. The main pros are flexibility in the event that you make a move and the biggest drawback would be that you won't recoup any of your expenses when renting. Living in Austin is a lot like living in Durham, NC when it comes to buying vs renting. You'll have to make the determination yourself if it's worth it to buy real estate or rent an apartment!

The pros are you can use the apartment to build your credit and rental history. The cons are if you start being late on your rent you will see the down side of up coming credit issues. Staying focus and paying on time will always be the best way to handle your new task. I hope my info help you out with your report in Austin.

Thanks
Anthony Taylor Realty

Hi Justine,
When I was in my 20's I lived in an Austin apartment for 5 years. In the University/NW Hills/MoPac area and Loved it! It is convenient to everything.
My Colleague, Marcus Cruz gave you some great info. However, I will add 2 key factors to consider.
#1 is your Security.
While stairs or walking a dog is a hassle, your Safety would be the most important consideration. Check the PD or Sherriff's Dept. Websites for crime stats maps and choose the area wisely. Consider renting in a gated Apartment even if it costs a little more.
Second consideration...think long term! While Yes, there would be property tax and maintenance costs associated with home ownership, the accumulation of equity when you buy while a young person in an expensive market like Austin can set you up for much greater wealth later in your life. Talk to a tax professional about the advantages long term. Also, share your financial info. and income with a good Loan Officer at your Bank or online, as they can give you a home price that you would qualify to buy. Consider buying a Condo if you want common areas that you don't have to maintain. Or a house with an extra Bedroom than what you need and rent a Room to a friend or student to offset the cost of property taxes. I teach all of these strategies in a homebuyer education class.
I think home ownership is so rewarding in so many ways.

Margo Duke, REALTOR
ABR, SRES
Better Homes and Gardens Gary Greene
(281) 763-8099
Margo.Duke@
garygreene.com

I am based in Houston, but the answers may be the same.

Disclaimer: I specialize in renting apartments in the Houston area, HOU Apartment Locator.
I just moved to an apartment in Downtown Houston and this is what I found:

Pros:
One of the top reasons most would want to live an apartment vs a home would be that the property management company takes care of maintenance for you. Keeping up with home repairs while being in a home is no joke. That is where a lot of people end up losing a majority of their money in the long run.

Another pro of living in an apartment would be the amenity space. If you work from home, it is nice to be able to make use of the office area and club space offered by most apartment communities. Also, keep in mind there is a pool at almost every newer property. That is a nice addition for the Texas heat.

Community events are nice. You get to meet your neighbors and get more of an opportunity to be in social environments.

Most apartments are strategically located for location.

Cons:
Having a pet while living in an apartment can be a bit of an inconvenience. Coming from having a dog door and not having to worry about letting my pup out to use the restroom, having to walk down more than twice a day to do so is a bit of an inconvenience.

If you are not able to park on the same floor you live on, getting groceries up to the apartment can be a bit of a hassle. I recently bought a foldable cart to overcome this and it has worked wonders!