Posted by
Lauren Park

When is a good time to buy in Houston tx?

We are newlyweds first time home buyers looking in the spring area. Is this a good time to buy or would it be better to wait 6 months or so? Additionally, would it be better to get into an apartment for the meanwhile in this market? We want a good deal up to 150k and preferably in a place that will eventually have a higher resale value.

Post an Answer
Report Abuse:
Click Here
Asked by
Consumer
Status
Open

When is a good time to buy in Houston tx?

By Lauren Park   
Posted on Oct 27, 2016 in Topic: Housing Market
Add to Favorites
 
We are newlyweds first time home buyers looking in the spring area. Is this a good time to buy or would it be better to wait 6 months or so? Additionally, would it be better to get into an apartment for the meanwhile in this market? We want a good deal up to 150k and preferably in a place that will eventually have a higher resale value.
Status: Open
Viewed: 2535
Asked by: Consumer
Posted: 3 years ago
Report Abuse: Click Here
Diamond
Darby Grimmett
about 3 years ago
Hi Lauren!!
Congratulations on recently getting married and beginning to think about home ownership!! :)

There are two parts -- When is a good time to buy based on the real estate market trends as well as when is a good time to buy based on your individual purchasing situation.

Real estate market trends are dependent on the specific area of Greater Houston, the price bracket and the quality of the property for sale. In short, some areas have seen a lull in sales due to the over saturation of properties or attributed to overpricing. Currently, we are seeing positive activity under the $400K range and less activity in the luxury price bracket (which booming a couple of years ago). Properties that are show ready and have updates that appeal to today's Buyer don't spend a long time on the market (unless they are grossly over priced, of course). Speaking specifically about the Spring area, it really depends on the area of Spring you are looking at. Spring ranges from east of 45 to west of 45 and covers a pretty large area. You have the actual city of Spring and The Woodlands (very different markets). Happy to discuss in further detail if you'd like to reach out, I'm simply limited by HAR in how much I can write here.

All that being said, honestly, the best time to purchase a home is when you are ready to purchase a home. :) Your Realtor will help you to find the best area based on what you are (and aren't ) looking for in your home and work to negotiate a contract for you that is to your advantage (the goal of course to go in with as much equity as possible in an established area with demonstrated appreciation over time). Your lender will help decide the best price based on your situation (income, assets, debt, credit, etc.).

If you want to shoot me an email I'd be happy to send over info that I send first time home Buyers. Happy to help!

Darby Grimmett / KW / darby@darbygrimmett.com / 936-827-9217


about 3 years ago
Silver
Eboni Taylor
about 3 years ago
It really depends on you and your husbands comfort levels financially and economically. The market under normal circumstances only fluctuates and appreciates over time so if you are maybe waiting for the market to drop then that may not be best method. I have had buyers that I helped purchase a home 1-2 years ago that has gain tons of equity and others that have not earned as much. Spring is.a really great side of town to by because they have a steady market. I have sold homes in less than 2 days and helped buyers buy homes that are in that competitive market and get them assistance with closing cost. I guess it's all up to you on what part of Spring you would like to live in and if this is a good time for you and your family.

If you have anymore questions feel free to contact me anytime 24/7/365.

Thanks
Eboni Taylor
Keller Williams Realty
Emtaylor@kw.com
832-453-7440


Source:


Har.com

about 3 years ago
Platinum
Mark McNitt
about 3 years ago
Hi Lauren. Congratulations on the wedding! The best time to buy IS WHEN YOUR READY! Ideally you would A) have your financing ready and B) feel comfortable with the area your thinking about buying in! If your not ready...lease for 6 months. Give yourself time to have full knowledge of an area. An experienced Realtor can set up an auto-search and a personalized real estate portal to keep track of homes coming on the market. There will be more to look at in the spring. Looking in the fall/winter may allow you to see homes without other Buyers competing with you, but the inventory may be a bit low. Your price range is HOT right now so be prepared with your lender to make an offer quickly when you see that home come on the market. Let us know if we can help as we work in the Spring area. Good Luck! Mark McNitt, Bernstein Realty. 832-567-4357


about 3 years ago
Gold
Andrea Cloud - Wagner
about 3 years ago
Hi Lauren, congratulations on your wedding and this very exciting time of your life! The answers above give you several great points to think about. There are many, many things to consider when it comes to purchasing a home. That's why it is so beneficial to have a professional on your side representing you. I do suggest interviewing at least a few agents and then choosing one to represent you in this process. Real estate services are provided at no cost to Buyers. Take advantage!

As to your specific situation, if you are unfamiliar with Spring, then leasing in that area first is a great idea (as mentioned above). That gives you time to learn at least one part of the large Spring area to decide if you really like the feel of it. It also gives you an opportunity to talk with neighbors to see if they love living there or if they have a lot of concerns. If you have specific neighborhoods in mind already, you may want to take some time to search for their Facebook pages or any other information you can find online, which will give you at least some idea of the "tone" or attitude of the neighborhood specifically. Truly you want a Neighborhood Specialist on your side who can help you determine the best fit for you. There are many excellent REALTORS® who work the Spring area and would be happy to assist you.

The link below is to a question similar to yours. You may want to read over the answers there as they pertain to best time of year to buy in Houston. As mentioned in the answers above, it depends. If we can be of help to you at Cloud Realty, please give us a call. All the best to you in your search and may you be happy in your new life and home!

Andrea, Cloud Realty, 281-359-9999


Source:


https://www.har.com/question/2240_is-there-an-on_off-season-when-purchasing-a-home-\n

about 3 years ago
Bronze
Good luck Lauren! very much support.
Check out our website at https://www.TexasMoveIt.com
before your upcoming move,
we got awesome guides that will surely save you big time on your moving day,
also, feel free to contact us with any additional questions, we'll be happy to help!


Source:


https://www.TexasMoveIt.com\nhttp://shop.texasmoveit.com

about 3 years ago
Bronze
Beoulah McIntyre-Dozier
about 3 years ago
Congratulations on your marriage!

I am assuming you are not from Houston, if this is the case, i would suggest maybe leasing a home rather than an apartment in an area that you may have been considering. If you are new to the area, by leasing, it will give you time to explore more areas around you that you may have not considered before. Leasing a home versus an apartment will give you the experience of living in your home and the maintenance that comes with owning, such as mowing a lawn, keeping landscape maintained, paying the utilities for that size home.

The next important factor is knowing how much the home you desire will cost you to stay within your monthly mortgage budget. This means, will you have to save a certain percentage to stay within your monthly comfortable payment. Second, do you have an established credit line?

Anytime is a great time to purchase a home in Houston it all depends on how ready the buyer truly is to make that commitment. Don't let interest rates bog you down. They change daily and you can always refinance if you purchased at a time of high interest rates.

Best Wishes!


about 3 years ago
Diamond
Francois Delille
about 3 years ago
Hi Lauren, congratulations on your wedding!
Spring area is a fantastic area in Houston. Regarding the best time to buy: it will depend on the price range as some price categories are more dependent on the economy than others. The houses with your price range tend to go vey quickly, so it might be a good idea to start looking early and go to open houses to know what you want exactly. You will also experience less competition (less buyers) during the winter than spring and summer but there will also be less houses for sale.
Call me if you want to discuss further.
Francois: 713-397-8857


about 3 years ago
Gold
Matthew Wigtil
about 4 weeks ago
There's a saying I've grown to appreciate..."the best time to buy was yesterday." With the market continuing to drive home prices higher, and interest rates at historic lows, the question becomes when is the right time for you personally? If you are financially confident in your decision to buy, then it will be a "good" time to buy.


about 4 weeks ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
Advertisement
Advertisement

Find a Pro

Search Real Estate Professionals

Advertisement