Bad time to buy in Houston?

[Texas Ag 93]

Many of those moves were due to my husband's career training.

We would never make moves where the cost is not 100% paid for us. In each case, the moves were either required (while training) or for career advancement. The size and other things we look for in a home are not available as rentals.

But, I definitely agree that from a financial perspective, it mitigates the risk to rent. Our past history would indicate that it is not outside the likelihood that we would move again, so that lends another good argument for renting. We've never made money on a home before, but we are putting our house on the market here in Denver next week, and will absolutely make money this time around.

For us, it all boils down to being willing to accept the financial risk of owning a home (with its variable value) versus the hassle factor of moving a very large household. Others choose differently.

[sbmccoy]

My partner and I just bought a house to build out in the burbs. His parents have told us their horror story of buying a home near Willowbrook in the 1980s, and then a few months later, the oil bust occurred and real estate market crashed. They weren't able to break even for about a decade, but ended up being just fine raising 2 kids in that house. They did move in the early 2000s.

Moral of that story for me: don't be too worried. If something happens, then we'll just be in place for a few years longer than expected, which is fine by me. :-)

[angiesu]

Originally Posted by sbmccoy

My partner and I just bought a house to build out in the burbs. His parents have told us their horror story of buying a home near Willowbrook in the 1980s, and then a few months later, the oil bust occurred and real estate market crashed. They weren't able to break even for about a decade, but ended up being just fine raising 2 kids in that house. They did move in the early 2000s.

Moral of that story for me: don't be too worried. If something happens, then we'll just be in place for a few years longer than expected, which is fine by me. :-)

Very true. Our other home we have been renting out for 8 years. We will be happy just to break even when we sell it. Which won't be for a probably another few years. Luckily rental market is strong in that area.

[thenewtexan]

cheryljohns? cheryljohns, you there?

[cheryjohns]

Originally Posted by thenewtexan

cheryljohns? cheryljohns, you there?

Yes.

Depends. If you are in town for 2.5 years or less and buy in one of the lesser demand areas, buy re-sale over new, no matter how much you want new.

Sugar Land - buy. If prices cool a little - it will just make it aggressive, rather than insane.

Three years plus - buy what you want. Except Alief and a few other areas.

[Htown2013]

Originally Posted by cheryjohns

Yes.

Depends. If you are in town for 2.5 years or less and buy in one of the lesser demand areas, buy re-sale over new, no matter how much you want new.

Sugar Land - buy. If prices cool a little - it will just make it aggressive, rather than insane.

Three years plus - buy what you want. Except Alief and a few other areas.

@Chery, what about Telfair I'm Sugar Land?