Areas to live in (commute to Rice) (Houston, Corpus Christi: real estate, to rent)

[dchsofabby]

My husband will be attending Rice University this fall so we're planning on buying a house in Houston. I know traffic is horrible there so he will have a commute but we're trying to minimize it as much as possible (we lived in San Diego for three years so have done the hour long commute before and hated it). I will look for a job in the area we live in so that's not a factor now. I'm not familiar with Houston but from the map it looks like it's closer to the SW side. I've heard great things about Sugarland but want to expand my search area. Any recommendations?

Also, any great Mexican restaurant recommendations? We'll be staying there for a week house hunting next month and I haven't had good Tex Mex in over a year. I grew up in Corpus Christi so I'm pretty picky about my Mexican food. Thanks in advance!

[Poltracker]

Need more info. Budget, schools for kids, etc.

[dchsofabby]

This is a starter home for us since we don't know where we will live after he graduates. No kids yet but would like to be able to rent the place out at some point so would like decent schools. Budget is $200,000. Have no problem living in the suburbs but would like to keep our commute to a minimum.

[lhafer]

I would look in Pearland and the northern side of Friendswood. Sugar Land is a great area too, but probably a little further than you want to commute.

What kind of work do you do? You said you would look for work once you got here.

[GIS_Gordon]

Are you looking for a newer home or would you be happy with a remodeled older house? There are many great neighborhoods in the SW area without having to leave Houston proper. You just have to be ok with not buying a brand new house.

[modster]

Westbury and Parkwest.

[TDAlmighty]

I have been down this road before (and seen others) and would like to send up a warning flag to you on your scenario. Due to your inexperience with real estate (starter home), the likelihood that you will get a good enough deal to come out ahead financially at the end of your schooling with your short time horizon and lack of knowledge of the area is very low.

If you have a friend or relative that is a good real estate agent (and will not be involved in the deal), I encourage you to get some honest feedback from them about your plan and time horizon.

I know quite a few people (myself included) that bought houses while they went to school. I have not heard of once where the person came out ahead. This is due to a multitude of factors that are in play, but is mostly due to the very short time horizon and the inability to cover closing/realtor/price variability costs. Most real estate agents would tell you 5-7 years is the MINIMUM you should plan to LIVE in a house before you buy. And renting is usually not as easy or as straightforward as it appears on the outside--many people that rent single-family homes NEVER make money month-to-month or overall.

I am sure that people will chime in to give examples where they have had or seen the outcome be positive, I can only provide you my experience and encourage you to talk with knowledgeable people and research this decision carefully before you execute. I wish I would have done so.

[modster]

Originally Posted by TDAlmighty

I have been done this road before (and seen others) and would like to send up a warning flag to you on your scenario. Due to your inexperience with real estate (starter home), the likelihood that you will get a good enough deal to come out ahead financially at the end of your schooling with your short time horizon and lack of knowledge of the area is very low.

If you have a friend or relative that is a good real estate agent (and will not be involved in the deal), I encourage you to get some honest feedback from them about your plan and time horizon.

I know quite a few people (myself included) that bought houses while they went to school. I have not heard of once where the person came out ahead. This is due to a multitude of factors that are in play, but is mostly due to the very short time horizon and the inability to cover closing/realtor/price variability costs. Most real estate agents would tell you 5-7 years is the MINIMUM you should plan to LIVE in a house before you buy. And renting is usually not as easy or as straightforward as it appears on the outside--many people that rent single-family homes NEVER make money month-to-month or overall.

I am sure that people will chime in to give examples where they have had or seen the outcome be positive, I can only provide you my experience and encourage you to talk with knowledgeable people and research this decision carefully before you execute. I wish I would have done so.

I concur. I have heard 5 years tossed around a lot as conventional wisdom, but especially in down times like we have had 7 seems more realistic.

Certainly there are exceptions to this rule, but they are definitely exceptions and not the rule.

[Mr. Krinkle]

I agree with the others. Rent a house in West U, Montrose, or Heights and you won't have to worry about traffic. Wait 6 -12 months and then decide to buy or not.

[Malvie]

Originally Posted by modster

I concur. I have heard 5 years tossed around a lot as conventional wisdom, but especially in down times like we have had 7 seems more realistic.

Certainly there are exceptions to this rule, but they are definitely exceptions and not the rule.

Agree with all the posters above re: 5-7 years, and would add: NEVER buy where you don't know the area. You really must know the area before you consider a house purchase. In Houston especially (no zoning), you can make a very big mistake very quickly. As has been stated on here many times, Houston is moving target. Just because an area "looks nice" doesn't mean that (1) it IS nice and (2) it is a good investment. It may be a formerly nice area on the decline; it may be in a high crime area (there are no signs saying, "High Crime Area!"); you'll have excellent, appreciating areas right next to burgeoning slums....

Just rent a nice house while your husband is in school and learn the ropes.