First Time Homebuyer Guide 78748

Where Can I Find Affordable Homes Near Austin? Your Step-by-Step First-Time Buyer Guide to 78748

If you’re Googling “Where can I find affordable homes near Austin?”, there’s a good chance you’ve already seen the hype around South Austin—and for good reason. One ZIP code consistently making headlines for value and livability? 78748.

In this guide, you'll learn why buying a home in 78748 is a smart move, what first-time buyers need to expect in today's Central Texas real estate market, and how Brandon Holley, a top-tier Austin, Texas, Realtor, makes the process stress-free from showing to closing.

Why Buyers Are Flocking to 78748

Where Is 78748?

Nestled just south of Slaughter Lane, 78748 covers areas like Tanglewood Forest, Cherry Creek, and parts of Manchaca. It’s a fast-growing, highly livable pocket of South Austin that feels close to everything without the downtown price tag.

What Makes It Special?

• Affordability: While the average home price in Austin hit $590,000 in 2024 (ABoR), homes in 78748 often range from $350K–$500K—perfect for first-time buyers.
• Commute-Friendly: Quick access to I-35, Mopac, and SH-45 means you can reach downtown, Tesla, or the airport in under 30 minutes.
• Lifestyle & Amenities: Southpark Meadows, live music, hiking trails, dog parks, and breweries like Lustre Pearl and Moontower Saloon.
• Growth Potential: With new infrastructure from Project Connect and local commercial expansion, property values are steadily climbing.

“78748 has that sweet spot blend of convenience and potential—it’s where first-time buyers become long-term homeowners.” — Brandon Holley, Austin, Texas Realtor

Neighborhoods

Tanglewood Forest offers a laid-back, established neighborhood feel with mature trees, community parks, and a strong local identity. It’s minutes from Southpark Meadows and popular dining spots like The Local and Pho Thaison. Residents enjoy quick access to greenbelt trails and family-friendly amenities.

Shady Hollow blends large lots, serene streets, and a semi-rural atmosphere—yet it’s still within reach of downtown Austin. Known for its community events and strong schools, it’s ideal for those wanting space without sacrificing convenience. Locals head to Moontower Saloon or The Hive for bites, brews, and laid-back vibes.

Olympic Heights is a favorite among first-time buyers thanks to its affordability, dog park, and walkable layout. It’s just off Manchaca Road, placing residents near hotspots like Lustre Pearl South, Armadillo Den, and The Watering Bowl—perfect for a social night out with or without your pup.

Buckingham Estates delivers classic South Austin character with a mix of vintage charm and recent updates. Located near Slaughter and South First, it’s central to both shopping and quirky local joints like The Far Out and Thicket. It’s ideal for buyers wanting fast access to downtown and the airport.

Bauerle Ranch is tucked into a nature preserve and laced with hiking trails, giving it a Hill Country feel within city limits. Residents love the peaceful streets, community pool, and proximity to retail like H-E-B, Alamo Drafthouse, and eateries like Maudie's South and Chi'Lantro BBQ.

Rancho Alto offers newer construction homes in a quiet, suburban-style setting. It’s a great blend of affordability and proximity to local employers. Just minutes from the food truck courts and bars along Menchaca, it’s a top pick for buyers seeking both calm and connection.

Slaughter Creek is ideal for nature lovers who still want quick access to shopping and dining. It backs up to Slaughter Creek Preserve and is minutes from Brodie Lane favorites like Summer Moon Coffee and District Kitchen. It’s a great option for buyers seeking green space and convenience.

Southpark Meadows is the commercial heartbeat of 78748. This massive shopping center includes Target, Walmart, Best Buy, and dozens of restaurants—from Whataburger to MOD Pizza. The nearby neighborhoods benefit from walkable access to daily essentials and weekend entertainment.

Beacon Ridge is an up-and-coming pocket with newer builds and easy access to I-35. It’s well-positioned for commuting to Buda or downtown Austin and sits near popular spots like Aviator Pizza, Little Darlin, and the burgeoning bar scene along Menchaca Road.

New Construction

Tucked off Old Manchaca Road, Drew Lane by Ash Creek Homes is one of 78748’s most unique and low-key luxury new construction options. This 20-home micro-community is perfect for buyers who want something beyond the big-box neighborhood feel—think upscale design with a boutique, tree-lined vibe.

Ash Creek Homes is known for architecturally distinctive homes, and Drew Lane delivers with clean, modern elevations, open-concept floorplans, and curated finishes. Homes range from 1,300 to 1,700 square feet, with 2–3 bedrooms, flexible living spaces, and energy-efficient features.

The community is HOA-maintained, so you get low-maintenance living with high-end design, plus walkability to the Menchaca entertainment corridor. You’re minutes from live music at Armadillo Den, tacos at El Borrego de Oro, and outdoor breweries that make South Austin so magnetic.

“Drew Lane hits that rare South Austin sweet spot—custom-feeling homes with zero pretension and all the personality.” – Brandon Holley, Austin, Texas Realtor

Located in the growing Estancia master-planned area near I-35 and Slaughter Lane, Creekside at Estancia is an exciting new offering from KB Home. With pricing from the mid $300s to upper $400s, this neighborhood brings first-time buyer accessibility to a part of town seeing rapid growth and infrastructure upgrades.

Homebuyers can choose from a variety of one- and two-story floorplans, all Energy Star® certified, and personalize design finishes at KB’s Austin Design Studio. Square footage ranges from approximately 1,200 to 2,800+, offering options for singles, families, and multigenerational living.

Community perks include a private amenity center with a pool, playgrounds, open green spaces, and access to future trails and nearby Estancia amenities. With quick access to SH-45 and I-35, Creekside also makes commuting to Downtown Austin, Buda, or Kyle a breeze.

This is one of the best-value new home communities in 78748, especially for buyers who want new construction without the price tag of Central Austin.

Novel by New Home Co. brings modern architecture and urban energy to South Austin, right off Dittmar Lane and Vertex Blvd. This newly developed neighborhood features detached homes and townhome-style condos designed with sleek lines, stylish finishes, and smart functionality—perfect for professionals, creatives, and first-time buyers.

Homes range from 1,315 to over 2,000 square feet and include 2–4 bedrooms, open-concept layouts, and 2-car garages. New Home Co. puts a focus on design-forward living, and buyers can expect contemporary interiors, stainless appliances, smart thermostats, and energy-efficient construction throughout.

What sets Novel apart is the urban-suburban balance—you’re a short ride to downtown, close to Southpark Meadows shopping and dining, and surrounded by the laid-back, local charm of 78748.

Bonus: It’s a low-maintenance community, ideal for buyers who want lock-and-leave flexibility without sacrificing style.

The First-Time Buyer Process, Step by Step

Step 1: Get Financially Ready

• Check your credit score
• Speak with a lender (Brandon can recommend trusted pros)
• Get pre-approved, not just pre-qualified
• Understand total monthly costs: mortgage, taxes, insurance, HOA fees
• Budget 1–3% of home value annually for maintenance

Step 2: Shop Smart in 78748

• Tour homes and review neighborhood comps
• Understand what conveys with the property
• Evaluate HOA rules, dues, and special assessments
• Spot hidden costs (repairs, upgrades, location trade-offs)

Step 3: Make a Strong Offer

• Use Brandon’s CMA
• Discuss compensation and strategy
• Ask for closing cost assistance or seller-paid warranties
• Understand earnest money and the option period

Step 4: Inspection, Appraisal & Loan Finalization

• Schedule inspections (home, termite, mechanical)
• Appraisal process
• Maintain financial stability during underwriting
• Secure title and insurance

Step 5: Closing Day and Beyond

• Review Closing Disclosure
• Final walkthrough
• Signing and funding
• Post-closing tasks (homestead exemption, address updates, lock changes)

Local Buyer FAQ – Answered by Brandon Holley

What if the appraisal comes in low?

You may renegotiate or terminate without penalty. We’ll walk you through it.

Can I buy new construction in 78748?

Yes. Some builders offer incentives. Brandon will help compare builder lenders and warranty timelines.

Will I regret buying here?

Not likely. 78748 homes appreciated 7.3% YOY in 2023—faster than Pflugerville or Cedar Park (Redfin MLS data).

How Will This New Development Impact My Home’s Value?

• Austin job growth: Tesla, Oracle, H-E-B Digital HQ
• Walkability upgrades: Sidewalk improvements, Violet Crown Trail
• Demographics: Mix of families, professionals, and creatives
• Retail & dining: Southpark Meadows expansion

Final Thought: Buying a Home in Central Texas Shouldn’t Be Overwhelming

Buying your first home in 78748 isn’t just doable—it’s smart. With the right guide, it can even be fun. Brandon Holley will make sure your offer is strong, your risk is low, and your future is secure.

Ready to Take the First Step?

Call or text Brandon Holley at 512.487.9242

Email: brandon@holleyhomesrealty.com

YouTube: Your Austin Home Guide | Holley Homes Realty​

Schedule: Book Here

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Disclaimer: This article is for informational purposes only and does not constitute legal, tax, or financial advice. Always consult a licensed professional.