Would you live in Aliana? (Katy, Briar: airport, swimming pool, parking)

[EasilyAmused]

Originally Posted by modster

A very long, long, long shot.

..and slow.

[K8T]

Thanks everyone. We aren't so much concerned with location, as my husband works in Sugarland and I work from home. Although it does seem like its out in the cow fields...

We have been on a loooonnggg house search focusing just in Sugarland - Greatwood and New Territory. We are to the point where we need to purchase within the next few weeks and still havent found anything we like in those areas. We went out to Aliana over the weekend and found a house we LOVE, but are a little unsure about Aliana. We noticed there weren't many people out looking at it and one builder mentioned they had inventory houses on the market for 5 months. We just relocated from up north, and having built a house there and not being able to sell it, we were pretty much dead set on not buying new construction here. But like I said, we LOVE the house. Any opinions on buying new construction down here? Would resale be better in Sugarland? We REALLY wanted a house with a pool. Would it be a really bad investment to put one in right away?

I know we should just pick a house we love - but we already have two rental properties and can't afford to buy a house here we wont be able to sell in a few years AND make a profit on.

Thanks!!

[modster]

A lot of times when you see marketing pieces for far flung developments or far out apartment complexes they trumpet the "easy access" to whatever freeway is around them, as if getting to the freeway was the destination.

[modster]

Originally Posted by K8T

Thanks everyone. We aren't so much concerned with location, as my husband works in Sugarland and I work from home. Although it does seem like its out in the cow fields...

We have been on a loooonnggg house search focusing just in Sugarland - Greatwood and New Territory. We are to the point where we need to purchase within the next few weeks and still havent found anything we like in those areas. We went out to Aliana over the weekend and found a house we LOVE, but are a little unsure about Aliana. We noticed there weren't many people out looking at it and one builder mentioned they had inventory houses on the market for 5 months. We just relocated from up north, and having built a house there and not being able to sell it, we were pretty much dead set on not buying new construction here. But like I said, we LOVE the house. Any opinions on buying new construction down here? Would resale be better in Sugarland? We REALLY wanted a house with a pool. Would it be a really bad investment to put one in right away?

I know we should just pick a house we love - but we already have two rental properties and can't afford to buy a house here we wont be able to sell in a few years AND make a profit on.

Thanks!!

I am usually one for buying the house you fall in love with, however, you have to do it with eyes wide open.

As for a pool, you absolutely will not get your money back out. That is a given.

As for resale in a few years, you probably will be able to at least sell it since the growth of suburban areas in Houston can happen at a blitzkrieg pace. It should be a lot more established in the upcoming years. The downside, however, is you will be competing with builders for a very long time. Why buy your house with carpet, paint, etc that is a few years old when you can get a bright shiny new one over in the new section? Houses that are way far out tend not to appreciate that well. If you sell within 5 years you might expect a loss. If you put in a pool, you can lengthen that by a few more years just to break even, (in all probability, who knows for sure).

[Topaz]

Originally Posted by K8T

I know we should just pick a house we love - but we already have two rental properties and can't afford to buy a house here we wont be able to sell in a few years AND make a profit on.

Thanks!!

I was going to say, "Just buy it," until I read your last sentence. Resale in Aliana in a few years is highly speculative. I think you'd have to be willing to stay for longer than that to reduce the risk.

[xavier1774]

I agree. Even in Telfair, where I live, it will be at least 3-4 years before development stops to be able to NOT compete with new construction. My situation is different, as I am here on a corporate relocation. If I decided to leave tomorrow (sticking with the same company) I would get what I paid back. I have seen a few houses where it seems like the owners bit off more than they could afford and those properties hit the market and had to be priced less than new construction.

Originally Posted by Topaz

I was going to say, "Just buy it," until I read your last sentence. Resale in Aliana in a few years is highly speculative. I think you'd have to be willing to stay for longer than that to reduce the risk.

[AK123]

Originally Posted by K8T

Thanks everyone. We aren't so much concerned with location, as my husband works in Sugarland and I work from home. Although it does seem like its out in the cow fields...

We have been on a loooonnggg house search focusing just in Sugarland - Greatwood and New Territory. We are to the point where we need to purchase within the next few weeks and still havent found anything we like in those areas. We went out to Aliana over the weekend and found a house we LOVE, but are a little unsure about Aliana. We noticed there weren't many people out looking at it and one builder mentioned they had inventory houses on the market for 5 months. We just relocated from up north, and having built a house there and not being able to sell it, we were pretty much dead set on not buying new construction here. But like I said, we LOVE the house. Any opinions on buying new construction down here? Would resale be better in Sugarland? We REALLY wanted a house with a pool. Would it be a really bad investment to put one in right away?

I know we should just pick a house we love - but we already have two rental properties and can't afford to buy a house here we wont be able to sell in a few years AND make a profit on.

Thanks!!

I will try to help best I can here:

- So you didn't see anything you liked, until this one house in Aliana. Am I correct? That sounds like an easy decision then.
- It is not going to be cow fields for much longer. Unless something really dramatic happens with the economy or housing market. For now, things seem to be holding steady after bottoming out. Give that area a few years, and there won't be so much field left.
- Inventory homes on the market for 5 months: This doesn't seem like that bad a thing in the current economy. 3+ months is not that abnormal in our subdivision, which is supposedly one or two of the home builders' best-selling in the Houston metro. People are having problems getting financing compared to a few years ago, and there are not as many people looking, waiting to see what the economy will do. The fact that there are inventory homes sitting there a few months will work to your advantage; you should be able to negotiate the asking price down quite a bit!
- Pools: I don't think people usually get their money back on those. Pools are for your own enjoyment... don't expect them to be an investment.
- Selling in a few years: What do you mean by "a few" years? Two years? 5+ years? Usually if you buy in a new construction area, if you sell within a few years you'll probably take a loss. If you don't think you'll be here long, you might look somewhere like First Colony instead. If you plan to be here at least 5 years (hopefully longer), go for the new construction home you fell in love with.
-Is resale better in Sugar Land: Depends on where specifically, among other factors. Now, Aliana has Richmond postal addresses, but realize this is not Richmond city limits or even Richmond ETJ. Word is -- and this is just word but from a good source -- is that Sugar Land wants Aliana. It would take an ETJ swap with Houston however. We'll see what happens...

Right it is accessible to Sugar Land town center, First Colony Mall, and additional shopping up toward Katy. Even West Oaks Mall/Alamo Drafthouse because FM 1464 turns right onto Westheimer north of Westpark. Eventually, Aliana will have all its own shopping. A new elementary school in the subdivision within a year or two.

Bottom line (my opinion only) -- Aliana will eventually be very nice, but it's going to take quite some time to build out and reach its full potential. Many years. Probably not someplace for a "short term" investment. For someone in on it for the long term, I think it will be nice.

Hope that helps...

[DrLizardo]

Buying a house is more an investment in a lifestyle than a financial investment. Especially in Houston where most houses keep up with inflation or do a little better. A pool is also just an investment in lifestyle, and will never ever be something you will make money on. While a pool can attract some buyers, it will also repel many others. Buy a pool if you're going to use it and don't expect to get your money back when you sell.

From what you've said about how slow it is in Aliana I would be very hesitant about buying there at the moment. Houston's economy, although much more diversified that it once was, is still very dominated by the oil & gas industry. There have been layoffs in the energy sector, but nothing like the wholesale slaughter that will come if the price of oil drops below $70 a bbl and keeps going down. It's been hovering there for a while, and there are some good arguments out there that say that the price won't hold. Who knows? But if the bottom drops out, you will see major impact on the local economy. Housing will take a major hit.

While prices will take a dip all over town in such a case, I wouldn't want to be competing with the builders who can suddenly lower their prices by 15-20%. It happened to me in the mid-80's; six months after buying I found myself so far under water it took almost nine years for the prices to recover, but I had left long before that. I took a big loss, but was able to buy my current home in Sugar Land at a great price.

Considering that you want to sell in a few years and have to do it at a profit, I would think you would be better suited for a rental. If you really insist on buying, I would look at a more established neighborhood away from all the new developments and hope for the best when you get ready to sell.

[Jonathz]

If you are looking at new construction I would prefer Telfair over Aliana. Telfair is closer to be built out than many people would expect. My realtor told me that for Meritage homes / Ryland homes / Beazer homes, the 60 lot area, they are now in phase 3 section 15A, Meritage home only has 8 lots left. Once they finished that section 15A, they will only have one last section left section 15B. then they are done for 60 lot section for Meritage/Ryland/Beazer, (in the range of low 300Ks), other than that half of the patio home section in the low 250Ks is also finished. I think telfair will be built out in 2 years.

[westres1]

There is a beautiful two year old home in Rivers edge with a 50,000 pool. they are taking a loss on it for sure. It is listed in HAR