Are you a downtown Austin resident debating whether to renew your lease or explore a new apartment? With so many new properties opening each year, packed with modern amenities and innovative features, it’s not always an easy choice.
What matters most to you? Are you looking for upgraded features, a fresh start and access to new amenities? Or do you value staying in a familiar space that offers comfort and convenience? Taking the time to weigh these factors can make all the difference in finding the best fit for your lifestyle.
At Paseo, our leasing team knows the ins and outs of downtown Austin living. Whether you’re looking to stay or explore something new, we’re here to help.
To make your decision easier, we’re breaking down the pros and cons of moving to a new apartment versus renewing your lease near downtown Austin.
Moving to a New Apartment in Downtown Austin
Pro: Next-Level Amenities
Austin’s thriving housing market means new apartments are continuously being developed, and many come with impressive amenities designed to outshine their competition.
From luxury rooftop pools and coworking spaces to smart home systems and gourmet kitchens, newer buildings offer exciting upgrades. If having the latest and greatest is high on your list, a brand-new apartment could be just the upgrade you need.
Con: The Moving Process
Let’s face it—moving is rarely fun. Between packing, coordinating logistics and unpacking, the process can be time-consuming and tiring. Even if you hire movers to lighten the load, moving day often feels like a major production.
While movers can take care of the heavy lifting, they can’t completely eliminate all the challenges. Moving day often turns into a full-day event, requiring significant energy and attention. It’s worth weighing whether the excitement of a new place outweighs the hassle of relocating.
Pro: A Fresh Start
Choosing a new apartment gives you the opportunity to start fresh in a completely new space. You get to be the first person to take a shower in your bathroom and sleep in your bedroom. Moving into a recently built property often means upgraded finishes, state-of-the-art features and innovative design that can elevate your living experience. Whether it’s floor-to-ceiling windows, smart home technology or stylish community spaces, a new apartment can provide the perfect setting for a lifestyle upgrade.
Additionally, moving to a new building can introduce you to a new community and environment. You’ll have the chance to meet new neighbors, explore a different part of downtown Austin and create new routines. If you’re someone who enjoys change and thrives in a fresh environment, a new apartment may be just what you need.
Con: Higher Costs
Newer apartments often come at a premium. Rent in downtown Austin can range from $1,500 to over $10,000 per month, depending on the location, size and features. While the cost might be worth it for the latest amenities, it’s important to evaluate whether the higher price fits your budget.
Pro: Less Crowded
If you move into a newly opened property, there’s a good chance the building won’t be fully occupied. This means you could enjoy perks like having the gym, pool or lounge spaces mostly to yourself during the early months.
Beyond the amenities, fewer residents also mean less competition for parking, shorter wait times for elevators and a quieter overall environment. If you value peace and the ability to use community spaces without interruption, a newly opened property could provide an ideal living experience.
Renewing Your Lease in Downtown Austin
Pro: Comfort
Renewing your lease means sticking with a home you already know and feel comfortable in. You’re familiar with the community, the staff and how everything operates. This predictability can be a major stress reliever.
The comfort of familiarity often makes renewing a lease a hassle-free choice, especially if you have an established routine and enjoy your current living situation.
Con: Lack of Variety
While staying in the same apartment can feel comforting, it can also lead to a lack of novelty. You may find that you’ve outgrown your current space or become bored with your living environment.
If your building is older, you might miss out on the modern amenities and innovations that newer developments offer. Features like upgraded fitness centers, rooftop pools, or smart home technology may not be available, which can make the idea of moving to a newer property more appealing.
Pro: No Moving Fees
One major perk of renewing your lease? No moving costs. Avoiding expenses like movers, deposits and furniture setup can make a big difference in your budget. Renewing means your home stays the same, and you can continue enjoying your current routine without the disruption that comes with relocating.
Con: Potential Rent Increases
While staying put can save you the costs and stress of moving, it’s important to be aware of potential rent increases. Many apartment communities adjust rental rates upon renewal to reflect market trends and rising property values. While moving has its costs, staying in the same place may not be as cost-effective if your rent jumps significantly.
Key Questions to Ask Yourself
When deciding whether to move or renew, ask yourself these questions:
- Am I happy with my current apartment management? Are they responsive and receptive?
- Do I feel safe and comfortable at my current property?
- Are there amenities I need (or no longer need) in my lifestyle?
- Is my rent increasing significantly?
- Would I like a change of scenery or upgraded amenities?
- Is the time and effort of moving worth it?
If your current space still checks all your boxes, renewing could be the hassle-free choice. On the other hand, if you’re ready for something new or looking for a property with the latest features, it might be time to make the move.
No matter what you decide, downtown Austin offers a variety of options to suit your lifestyle. If you have questions or want help finding your next home, our Paseo leasing team is here to assist!
Katie Stafford
Katie is a regular contributing author for Paseo, covering leasing tips and all things downtown Austin. She has 2 years of experience in multifamily leasing and marketing. In her free time, you'll find Katie baking, hiking, or planning her next trip.
March 4, 2025