Best place to buy a house in Houston?
I was wondering where the best place in Houston is to buy a house or condo if you work on and want to be close to Louisiana St.
Don't want:
A place more than 300,000
A place that has had large run up in price recently
Want:
A place that is as "walkable" as possible for Houston.
A place close to at least one good nightlife area
Any ideas?
Your $300 price limit may be an issue if you want to be able to walk anywhere. How many bedrooms do you require?
2 bedrooms is what I'm looking for.
Price is more important to me than walking...buying an expensive place and then being murdered on yearly property taxes doesn't sound appealing to me.
Midtown/Montrose is your best bet. Good nightlife. I am not sure if it will fit your price range. You might be able to buy a condo somewhere. How many sqft you looking for? Also if you are not looking for a place with a large run up in price, it contradicts you wanting a safe area. All the good spots have had price run ups.
I want two bedrooms at least, so I can rent out the bedrooms I'm not using. I don't really care about square feet to be honest.
Houston sucks. Don't buy there. You will want out.
That. Why don't you look at Sugar Land?
My parents already have a place in Sugar Land, so I would just live at home if I wanted to live there.
I would look for two-bedrooms in a high rise. Several have been built lately along Allen Parkway and in the Galleria area along Post Oak. These have all kinds of sweet ammenities and may put you over the $300K price point. The economy in Houston is completely on fire right now and it is a total seller's market. While prices have gone up, it is not at the disgusting level that you saw in other markets pre-crises. Things that sold in the $350-400K range in 2008-2009 are now in the $425-450 range.
The estimates are that about 10,000 jobs per month are coming to Houston, so the residential real estate market is seeing that effect right now. These jobs are likely here to stay as they are mostly established positions coming from other states fleeing the high taxes and high cost of living in California and the Northeast. Many properties are having bids placed on them without the potential buyer even seeing the property in person. Most of these jobs are in the mid-level engineer and mid-level manager postions at big companies. This disproportinately is putting incredible demand on the residential real estate market in your price range. Since you are looking for nightlife, I am assuming you are single and probably in your 20s. This, and the fact that single family homes with only 2 bedrooms are notoriously tough to re-sell would definitely push me towards recommending a high rise.
Several?! This is what I call several:
http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Miami
Thanks for the response. It seems like there has been a 15-20% price increase since 2008-2009.
My parents own a house in Sugar Land, and we have to pay 2.5% of the assessed value in taxes every year. This turns out to be a yearly 5 figure expense, and paying that much in tax per year isn't something I want to be burdened with if I can avoid it.
High rise condos are nice, but I also don't want to pay a monthly condo fee.
I am thinking that the Heights is the best place for me right now because it's in my price range and reasonably close to work/nightlife.
Double post.
Speeddemon, ignore Ibra, he hijacks every thread about Houston. He actually lives in Houston and loves it, so he comes on to WSO to dissuade people from applying to positions in Houston. This way he has more opportunities for himself.
Only a madman would want to walk in Houston.
Scratch walking from the list.
The only things I am looking for are 300,000 + reasonably close to Louisiana St and one nightlife area.
What do you guys think of the Heights? Maybe a place like this:
http://www.har.com/homevalue/dispSoldDetail.cfm?mlnum=50857604
This or somebody who enjoys the thrill of being yelled at by the driving by trucks/cars. Apparently in Houston walking signifies gay tendencies or means you need help...Talk about troglodytes...
A friend was in Houston for work. We were at a bar speaking Dutch. Some typical ignorant Texan close by asked: "What language is that?". My friend says: "Dutch. We are speaking Dutch". Ignorant Texan: "Oh...Are you guys from Dutch or how long have you been living there?".
That pretty much sums up the general culture (or lack there of). Troglodytes.
Washington has some awesome townhouses/condos in your price range. Three stories, 2-3 bedroom, roof with view of downtown, and walking distance to a bunch of bars/the most decent night light in Houston
So apparently the Heights has the largest population of young artists around...if your into that kind of thing. I'd also stay away from Montrose, pretty big gay scene that's up and coming. Even though Texas is seen as a conservative state, Houston is probably one of the most liberal cities in the country.
Yeah, I would go for the Washington corridor
Washington Ave it is then...thanks for all the help everyone
I think washington ave fits your criteria - but wouldn't go expecting much of a return on that type of property. Houstonians don't want condos and townhouses are overbuilt in that area + youll always be competing with new construction.
Don't mind lbacadbra - his time in houston didn't go so well.
Wait...can you possibly recommend me something that will get me a higher return?
Better question: what would you do with 300,000 in Houston?
I would rent and buy a decent rental property in the a sketchy area. Coworker of mine owns 2 properties (in LLC) in the hood and government guarantees the rent as long as you have a tenant.
Maybe your deal works if you can rent out your spare bedrooms, but just looking at buying a property for x and selling it for y - this market is overheated and the townhouses are going to be the first to get hit when things settle down. Just my 2c. Advice probably worth what you paid.
Double post
You guys realize Ibra is from Houston. He is upset because out of towners like us are moving there.
The fact that "swanky" hotels and lounges are your metric for the quality of a city makes you perfect for a city known for little more than murder, fist-pumpers (and fisters), flipping condos, and giving the Real Housewives of New Jersey and their ilk somewhere to spend the winter. Tell me the last time Miami was considered a top 10 restaurant city (http://bit.ly/fGSNxL)...or when the Times profiled 2 of its new restaurants (http://nyti.ms/ZlKz1q). What is its Rothko Chapel? MFAH? I guess there is Art Basel - but that is akin holding an antique show at the bunny ranch.
Do you know what my favorite Rolling Stones album is? Exile on Main Street. Ever heard that one?
http://blogs.miaminewtimes.com/riptide/2013/08/miami_was_europeans_thir…
I guess the Europeans are missing out on Houston, Texas...BWAHAHAHA
Obviously when you shift to rich Latin Americans, Miami moves from the third to the first most visited.
It also helps to observe that Miami is considered an Alpha- city while Houston is in the Beta+ category.
http://en.wikipedia.org/wiki/Global_city#GaWC_study
I'm still curious about whether you identify with that Rolling Stones album ...have you ever been Exiled on Main Street? Any Main street?
So far your metrics for quality city appear to be "swanky hotels", and telemundo fans/Euro tourism. With that in mind I guess if Disney world gets a four seasons you'll be headed north.
Now on to your point - if alpha is 30k millionaires, extras from Bad Boys II, and an economy that revolves around bottle service and robbing convenience stores, consider me beta.
You know who must love Alpha? Poor people:
Percentage of residents living at the U.S. government established poverty income level 1. Detroit, Michigan 36.2 2. Buffalo, New York 32.9 3.Cleveland, Ohio 29.6 4. Miami, Florida 27.7 ---- Lolpoors 5. Cincinnati, Ohio 27.4 6. Milwaukee, Wisconsin 27.0 7. Newark, New Jersey 26.1 8. St. Louis, Missouri 26.0 9. Memphis, Tennessee 26.0 10. Philadelphia, Pennsylvania 25.6
You know who seems to have a thing for beta? Rich people: http://www.economist.com/blogs/graphicdetail/2013/05/daily-chart-7
If I am ever tired of my beta life I might look for a job at a bucket shop investment bank in miami. Any leads?
And do you identify with this one: "Texas? Only W. Bush's and hicks come from Texas Private Cowboy! And you sure don't look like too much of a W. Bush to me so that kind of narrows it down."
To get back to your request for work in Paradise, nobody would ever hire an anglo Texan in South Florida. People from the fly over states (or redneck coast/riviera as your username indicates) tend to be too naive and ignorant to survive in an international environment. I mean they usually cannot even wear a properly fitting suit, speak a second language or hold their silverware and remove their hat at restaurants (farming roots after all), let alone impress a rich and powerful Latin America client who likes to talk about futbol and women. Not to mention they usually don't even know the difference between the language of Brazil and that of Mexico.
One good thing about Texas is that the women are usually very easy if you are from anywhere else (and especially foreign) and they love to be sluts when traveling to Miami or anywhere abroad behind their boring uncultured Texan husband/boyfriend's back. How could you blame them after all for wanting to experience once in a life time something better than a man who plays beer pong, dips tobacco, wears baggy shorts and sandals in 50 degrees weather, and whose idea of romantic get away weekend is tubing on the river in Austin with a koozie in their hand? These women are great fun because you hit 'em and you quit 'em.
I think that's enough internet for today
God you just dont know when to quit. If only you had moved to New York or some other place that actually has culture. But starting an argument with the virtues of Miami is like arguing the fashion merits of Ed Hardy. They are basically analogues. And I'm (HIV) positive that your definition of a proper fitting suit is going to come off looking like an extra from Philadelphia (probably the antonio banderas character?).
Enjoy all those wealthy clients. All these oil guys are totes broke! No dough in energy. Guess the real money is in $50mm debt restructuring for companies no one has ever heard of.
Also, have you listened to exile on main street yet? I think it would really speak to you. Can't fear Main St. forever, amiright? Get back on the horse buddy.
xoxo hth
Not interested in getting into a flame war but most places where rich people live like Coral Gables, Key Biscayne, Fisher Island, Miami Beach itself, etc don't fall within the city of Miami proper.
According to a UBS study:
Ranking: The richest cities in the world (By domestic purchasing power) Rank 2012
100 highest-income places in the United States 1. Fisher Island, FL 8. Indian Creek, FL
And that's not accounting for places in Palm Beach and Broward counties which are considered integral part of the Miami metropolitan area.
^ Do you have a link to that study? Are you trying to say Miami is a "richer" city than NYC???
citymayors DOT com SLASH economics SLASH usb-purchasing-power DOT html
The actual UBS study is easily found googling "Prices and earnings UBS"
I was just pointing out to the previous poster that most rich people in the Miami area live outside of its city limits. In comparison in Houston for instance, 30 miles from downtown, it is still Houston.
Even looking at places with a population of at least 50,000:
In general, higher cost of living/housing, tends to be correlated with desirability of location. Well, in that regard Miami has a cost of living below that of NY and SF but higher than that of any place in Texas.
To infer that Miami is a city of poor people like Detroit seems inaccurate based on the above. Besides, a % of people living in poverty doesn't mean much per se. The richest man in the world for instance lives in Mexico.
Rents in Houston are getting ridiculous in the desirable areas. You can spend 1500 on a 1 bedroom in Midtown, which would have been 1000 a few years ago. I don't even know if you classify Houston housing as cheap anymore to be honest.
Agreed, rents are insane right now. If I add vehicle & insurance I could easily be renting in NYC, although my apt would be significantly shittier...
I would not buy at the moment if I were you. Houston continues to set monthly home-sales records; you're just asking to lose money.
When do you think will be a good time to buy?
I've seen a few houses that are listed for 50% more than their 2012 tax assessment value, which makes me skeptical as well.
If it makes any difference, my parents could buy this house/condo/rental property with cash right now. This would help my brother save on rent next year.
.
.
Or better put, to quote the song of a famous Texan: "You got to know when to hold 'em, know when to fold 'em, Know when to walk away and know when to run."
Ibra you are something special.
One thing to keep in mind though....Houston is one of the fastest growing cities in the US. I'm not saying that it'll necessarily correlate with sustainable real estate price increases such as are the case now, but I don't think you can reasonably expect a huge decline the way the city is expanding.
Yes rents are exploding, but still aren't at other big city levels yet. However, the city doesn't have the same livability in terms of mass transit, etc, so I don't like it for a primary home type investment. My rent went up about 10% recently when I signed a new lease here. (Was on a 6 mo lease, signed another 6 mo lease)
On a side note....It's too damn hot here. Still heat index in the 100s and it's almost October...
So 1300-1500 minimum per month for a pretty small 1 bedroom isn't at other big city levels?
HOU rents may not be at stratospheric levels like NYC/SF/DC/BOS/MIA rents, but I'm pretty sure it has "caught up" to almost every other big city.
I'm not expecting a real estate crash or anything, but there is no way rents can go up 10% every 6 months for a long period of time.
I forgot to add to be sure to keep telling yourself that you are happy and that Houston is great so you don't have to throw up to feel better about your lack of quality of life. It would be like someone from Liverpool or Manchester telling someone in Barcelona that life in their industrial cesspools is great and better than in Barcelona. (Hint: you may not get what I mean given most Texans have never traveled or could not name the president of the country next door.).
I'm happy for you and I am sure you are enjoying riding your horse like a true redneck Texan, playing beer pong, and hunting but let me remind you of the fact that Texans are looked down upon in the rest of the country/world and thought about as uncultured troglodytes. So when you talk about "culture" think about that next time.
Bottom line, as stated, you are riding a horse and I'm riding high on quality of life, sexy south beach, and gorgeous Latinas, something you will never have the pleasure of riding.
Also, bringing up your hate for minorities and protected categories (in this case gays but earlier it was a reference to Cubans) is not a great idea in a public forum.
Talking about exile...have you heard about what happened to that "succesful" VP also on "Main St" who had a great dossier of derogatory jokes for a protected category in public display on his facebook page that every single UT student came across during recruiting? Probably clients looked him up too and weren't too entertained, then you wonder why the deal flow takes a hit... Lol, amazing what happens when you don't have enough "attention to details" with the privacy settings!
Last I heard things didn't go to well for him...and for the Senior Management who failed to recognize his true character. Sometimes you don't get exiled, you just happen to "resign" or take sabbatical "leaves".
woah, calm down
You guys realize this poster lives in Houston. He doesn't live in Miami like he claims.
Bump. Where did RedneckCoastBorn go? Was that enough to put him in his place? I hope not, I was just starting to have fun with the Texan idiot...
Quod maxime animi voluptates molestiae. Autem iste nostrum placeat error minus.
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