Why San Antonio is a Great Place to Buy
By Jennifer Riner, Trulia
Buying your first home is complicated, especially when you realize a smaller budget may not buy the necessary square footage. Trulia found that 43 percent of Americans wish they had a larger home, with more than 60 percent of millennials desiring more living space.
Luckily for buyers in Texas, the Lone Star State offers the largest entry-level price point homes compared to out-of-state listings. In addition, Texas trade up homes and even high-end properties tend to be more spacious than those found in other parts of the country.
San Antonio, in particular, offers more seasoned buyers a chance to size up the second time around. Trade up homebuyers gain 579 square feet, or 51.7 percent more space, when seeking out a new property.
Is everything really bigger in Texas?
The median square footage of starter homes in San Antonio is 1,121 for an affordable $83,563 median price. At just $75.90 per square foot, San Antonio’s first-time homebuyers get the most out of each dollar compared to buyers with bigger budgets.
For $152,700, second-time homebuyers in San Antonio can find homes offering around 1,700 square feet. Homes for sale in the trade up category cost $88.08 per square foot, on average.
At $116.75 per square foot, premium homebuyers in San Antonio can sprawl out across 2,556 square feet. The median price of top-tier homes remains relatively affordable at $274,151.
Buyers trading up from a starter home can expect to find a 51.7 percent increase in square footage in their second property, while buyers switching between trade up and premium gain slightly over 50 percent more space.
Texas cities permitting room to grow
Nearby Austin affords first-time homebuyers an average of 1,428 square feet, which is the most space for the entry-level home price category than any other metro offers. Houston’s first-time buyers face slightly smaller – albeit spacious – homes around 1,320 square feet, making Space City the fifth best locale for entry-level buyers looking to sprawl.
Second-time homebuyers also might consider Houston, where trade up homes average 1,997 square feet. In addition, Austin’s trade up house hunters can look forward to around 1,893 square feet. Dallas, too, ranks no. 3 for second time homebuyers prioritizing space at an average of 1,900 square feet.
Meanwhile, upscale homebuyers looking for room to sprawl might consider house hunting in Dallas, where premium homes average approximately 2,945 square feet.
Living in San Antonio isn’t just about stretching your legs at home. Top-rated schools, including Stone Oak Elementary and the Young Women’s Leadership Academy, offer unparalleled education opportunities for families. With a 65 percent homeownership rate, the San Antonio real estate market is both strong and accessibly priced, no matter how many square feet you prefer.