Best areas to buy a home on a 200K budget (Sugar Land: rent, mortgage)

[Petty Pendergrass]

Where would you all recommend a family of 4 buy a home with a 200K budget? Is building a better option? We like the Lake Olympia/Olympia Estates area, or any area along Hwy 6 in the Missouri City/Sugarland area, but we seem to be priced out of those homes. We currently live in Fresno, and the area seems to be getting progressively worse.

Any ideas on hidden gems in these or similar areas, or the best times of year to buy to get a good deal would be really helpful.

Thanks,

[txdemo]

Check out this thread: http://www.city-data.com/forum/houst...99k-range.html

[Failed Engineer]

200k is probably the absolute low end of what you'd find in The Highlands, but I think it is the best area by far at <200k you could buy into in the Sugar Land area.

I'd say buy whatever house you can there.

[curbur]

Originally Posted by Failed Engineer

200k is probably the absolute low end of what you'd find in The Highlands, but I think it is the best area by far at <200k you could buy into in the Sugar Land area.

I'd say buy whatever house you can there.

There's actually a lot of these pocket communities in the nicer suburbs around town. You can find them in Spring just outside the Woodlands, in some of the older Cypress neighborhoods that border the newer ones, in Katy on the north side of I-10, in Kingwood area closer to the beltway, etc. The list goes on. Typically they're less desirable because they're slightly older, closer to areas that have a noticeable amount of crime, and will have the lesser performing schools in an otherwise good district. They're often a tiny bit closer in to town than their nicer adjacent counterparts though.

[ipuck]

Originally Posted by Failed Engineer

200k is probably the absolute low end of what you'd find in The Highlands, but I think it is the best area by far at <200k you could buy into in the Sugar Land area.

I'd say buy whatever house you can there.

Definitely think Highlands is better than Olympia Estates.

Plus the tax is lower in SL compare to Missouri City.

I think Olympia is on the way to decline and value is getting lower and lower.

I have a feeling FBISD will screw that area even more in the next rezoning so the decline will continue.

[westhou]

Your budget may be able to get you into some of the communities along Barker Cypress between I-10 and 290.

[curbur]

Originally Posted by westhou

Your budget may be able to get you into some of the communities along Barker Cypress between I-10 and 290.

Well there's a world of a difference south or north of fm 529, but there's homes under or around $200k on both sides. The north side is easily more desirable out of those two options, but I'm pretty sure they mentioned looking in the SL area, so Katy/Cypress may be too far.

[acrackl]

Don't buy a house - buy a 4-plex or a duplex even. Live in one and rent out the other(s) - even if you don't have cash flow, the rent would go a long way in paying off the property cost. You will come out ahead when the mortgage is paid.

Go to biggerpockets forum and ask for advice.

[AK123]

Originally Posted by mik1680

Where would you all recommend a family of 4 buy a home with a 200K budget? Is building a better option? We like the Lake Olympia/Olympia Estates area, or any area along Hwy 6 in the Missouri City/Sugarland area, but we seem to be priced out of those homes. We currently live in Fresno, and the area seems to be getting progressively worse.

There may still be some in a few of the neighborhoods near the Sugar Land airport. Just stay south of W Airport Blvd.
You might also check Richmond.
I don't think building is a better option unless you plan to stay there a long time. Look for a re-sale or inventory.

[ilikeme]

Check out Meadows Place, Sugar Mill, and Glenshire East/West, which is off of W. Airport and the Beltway.