Cross creek ranch vs cinco ranch northwest (Houston, Katy: for sale, 2014)

[Lrm123]

We are looking to buy a new house in the 500k range. We also know that we will be selling in 5-6 yrs.
So which of these two areas do you think will be easier to sell when time comes.


Thanks,
Lrm

[descovy]

Just a gut reaction... as someone who lives in the area... But I would choose Cross Creek Ranch, especially if you picked one out in an established part of the neighborhood (resale not new build)

[Houston321]

Cross Creek, find a completed new inventory home, if you can close this year, make a low offer. Now is the time to do this. Builders need to get their finished homes off the books this year, even if it means taking a very low margin.
This is how I buy my own homes, and I sell new homes for a living. Good luck.

[bghouston]

I recommend Cinco Ranch NW which optically comes with a Katy zip code, not that it makes a real difference practically speaking but you will have a wider base at the time of selling. Also excellent selection of homes in the 500K range (checkout Village Builders or Highland)

[96tahoe]

I would recommend Cinco NW just bc of the developer and easier access to I-10 & 99.


If it were me, I would also look into Elyson (Same Developers of Cinco Ranch). Since you plan on selling 5-6 yrs from now, homes are cheap right now but I expect prices to go up due to all the growth in NW Katy. I think most of the homes in South Katy have reached their ceiling in terms of Market Value.

[Lrm123]

Thanks a lot for all the advise. We looked at a trend maker spec house and the discount quoted was 50k for 4100 sq.fr and around 75k for a 4300 sq.ft home off the list price. Is this the normal range of discount for a house in the 500k - 575k range.

[Sollaces]

Keep in mind those $500,000 homes are hard to sell. More homes sell in the $300,00 range or under. You can still get an excellent home in the 300 range and add what you want to make it special. Add a pool or fancy storage in the garage.

Newer homes are out at Cross Creek Ranch and five years down the road I'm sure more commercial businesses will be out there. The Westpark Tollway is expanding west but not out to Fulshear. Of course the main way to get to Cross Creek is on 1093 unless you want to go back roads.

I'm not sure what to tell you. Five years isn't a lot of time for values to increase. What offsets that is the high property tax rates, the MUD's, HOA fees, property, and flood insurance. See which area is more reasonable to live in yet is safe from crime and the area is well kept. All of that factors more into whether a house sells and sells well than anything else. Very few can afford a $500,000 home, most can afford something in the 200 - 300's.

[jtothemak]

Why buy a house for only 5 years? Does not seem like a good investment. I would think you would be better off renting. I have never understood why people try to buy a home for short term investments. At the end of the day it just makes the housing market more unstable. More homes for sale equals lowers prices. If more people bought homes around here for long term then there would be fewer houses on the market and keep the market more stable.

[LocalPlanner]

I think some who ask this type of question are either from the West Coast, where short term housing price gains have historically been common (except for the 2008-2012 period), or have been conditioned by the exceptional conditions of housing value appreciation that existed in the Houston region from 2011-2014 and frankly may never be repeated.

[NTexas2010]

Originally Posted by LocalPlanner

I think some who ask this type of question are either from the West Coast, where short term housing price gains have historically been common (except for the 2008-2012 period), or have been conditioned by the exceptional conditions of housing value appreciation that existed in the Houston region from 2011-2014 and frankly may never be repeated.

Good insight.

Really, with exception to people who flip homes and/or own multiple properties, short term appreciation really should be pretty far down the list of priorities when buying a home. IMO, my list of priorities would be:

1. Location (including school district and commute time)
2. Structural integrity and major home systems i.e. plumbing, electrical, A/C and roof
3. Floor plan layout and ease/difficulty of future renovations, if desired.
4. Cosmetic finishes
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10. Long term residual value
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...... Short term residual value