Is Now a Good Time to Buy a Home in Houston, TX?
Or in Cypress . . . or in Kingwood . . .or in Spring . . . or in Tomball, TX?
You be the judge . . .
- Interest rates are at all-time lows.
- There is a huge and wonderful selection of homes to choose from in every price range.
- Houston, Cypress, Kingwood, Spring (including The Woodlands), Tomball and all surrounding areas' home prices are extremely reasonable, especially compared to a lot of other cities in the U.S.
- You have to live SOMEWHERE and either pay a mortgage or rent, unless of course, you are living with someone and not having to pay either.
- In many cases, rent on a home is higher than a mortgage would be on the same or similar home.
- Even if you like the neighborhood, your home and your neighbors -- a landlord can make you move at the end of your lease if he wants.
- If you are buying the home, and as long as you make your mortgage payments, whether you stay or move is up to you.
- If you rent, you usually have to stay with neutral paints, etc. If you
are buying, you can take advantage of the fun and colorful trends for interior walls. The money you spend on flowers and landscaping will enhance the value of YOUR home, not your landlord's. You can personalize your home to make it your own.
- If you have children, they may feel an extra degree of security in not having to switch schools and neighborhoods frequently and also in knowing this is THEIR home, and that it’s not a “borrowed” home.
- If you are buying your home, the monthly mortgage payment goes toward something YOU own. If you are renting, your monthly rent goes toward helping your landlord own the property.
- No more parking beside strangers in an apartment parking lot or parking garage and wondering who scraped the side of your car; or driving around at midnight looking for a parking spot halfway close to your apartment.
From what relocation buyers tell me, compared to other a lot of other areas, you get a lot of house for your money when you buy a home in Houston. Many subdivisions have fantastic amenities such as subdivision pools, basketball courts, tennis courts, clubhouse, walking trails, and the list goes on.
To answer the question: Is now is a good time to buy a home in Houston, TX? -- It really depends on each individual’s situation.
The answer is “yes” for all the reasons above.
However, the answer may be “no” for reasons such as:
You are unsure of your job situation; you may be transferred in the near future with no company buyout; you are buying to make a quick and huge return on your money.
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