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re: Best area of Houston/DFW starter home
Posted on 6/13/19 at 2:41 pm to Zappas Stache
Posted on 6/13/19 at 2:41 pm to Zappas Stache
quote:
I've averaged 7.5%/year over 20 years plus tax benefits
If you are going to be in it 20 years then it's almost never going to negatively affect you. If you are 24 there's no way in hell you can realistically sign up for that.
1
Posted on 6/13/19 at 2:42 pm to NIH
quote:
I’m sure plenty of old men look back and think, “man if only I had forgone having fun when I was single I could’ve retired 5 years earlier”
The should’ve, could’ve, would’ve scenario. And the Boomers wonder why they’re working into their 70’s.
Posted on 6/13/19 at 2:52 pm to themasterpater
quote:hmm wonder if I know you
I currently live in DC
Posted on 6/13/19 at 3:01 pm to themasterpater
If you are young and single, live downtown in an apartment . You’ll be bored to tears in the burbs
Posted on 6/13/19 at 3:06 pm to themasterpater
Mont Belvieu Tx.
Posted on 6/13/19 at 3:07 pm to crazycubes
quote:
If you are young and single, live downtown in an apartment . You’ll be bored to tears in the burbs
Agreed.
As someone who has lived in Houston, both single then married, Inner Loop Houston and Outer Loop Houston are two different planets.. Inner Loop, while it doesnt have the ‘Things to Do’ level of NOLA or Austin, there is some character and some cool areas.. if single, it’s a no brainer to live there and rent, while continuing to save for a house.. We had the best of both worlds, when my wife and i bought, we bought in the loop (River Oaks) but it was a townhome and this was 7 or 8 yrs ago so it was relatively affordable. Today it is not.
Posted on 6/13/19 at 3:18 pm to Sweltering Chill
A River Oaks townhome has probably appreciated 50-60 percent in the last 8 years, but as you know, that is definitely not normal for the vast majority of places in the city (or anywhere). I believe some parts of Bellaire are actually going down in value, especially post-Harvey.
Posted on 6/13/19 at 3:30 pm to Mingo Was His NameO
quote:
If you are going to be in it 20 years then it's almost never going to negatively affect you. If you are 24 there's no way in hell you can realistically sign up for that.
In today's market, you'll make money in a couple of years. The big question is when does the bubble burst. Nobody can answer that but if you are ready to be in the house for 5 years if real estate goes south in the next couple of years, you'll be good.
Posted on 6/13/19 at 3:31 pm to themasterpater
Possibly Celina or Argyle. Granted, you said starter, not me. But in 10 years either will double in value as was the trend 10 years ago. It's not stopping.
This post was edited on 6/13/19 at 3:32 pm
Posted on 6/13/19 at 3:32 pm to Zappas Stache
quote:
In today's market, you'll make money in a couple of years. The big question is when does the bubble burst. Nobody can answer that but if you are ready to be in the house for 5 years if real estate goes south in the next couple of years, you'll be good.
You are saying two completely different things in one paragraph. You can't say definitely you'll make money on your house in a couple of years and then the very next statement say there is a bubble that will burst. Those are directly contradictory.
Unless you have a crystal ball, of course.
Posted on 6/13/19 at 3:47 pm to Brood211
quote:
Best you would do inside the Loop is Eado
Even that's getting tight on $250k 77003 Under 250k
As for the OP, the burbs are not likely what you want right now. I moved to Jersey Village (NW suburb of Houston) when I was 24. I hated it. The instant my lease was up I got an apartment in the Heights.
To get inside the 610 Loop for your budget, you'll need to take a gamble on an area that's being gentrified. You will have some sketchy neighbors for a few years but you'll get in cheap and hopefully profit a nice sum when/if you move. The ship has long sailed for Montrose and The Heights and is getting there for Eado. If you up to 300k you'll start seeing some options.
Posted on 6/13/19 at 4:58 pm to Mingo Was His NameO
quote:
You can't say definitely you'll make money on your house in a couple of years and then the very next statement say there is a bubble that will burst. Those are directly contradictory.
There are caveats in any investment strategy. Unless you have a crystal ball, of course.
Posted on 6/13/19 at 5:03 pm to Zappas Stache
quote:
There are caveats in any investment strategy
Yeah its called risk. You dismissed risk in your first sentence and then said it was risky in your second.
Posted on 6/14/19 at 9:23 am to FunroePete
What makes you say that?
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