House or townhouse in Houston (Pasadena, La Porte: apartment complex, rent, condos)

[davidt1]

Hi,

I will be moving to Houston soon. I have 100K to buy a place to live. I am trying to decide if I should buy a townhouse or a house. If I buy a townhouse, I want to keep it under 100K. I might spend slightly more for a house, but not more than 120K. Basically, I want to pay cash for it. I also want to be able to sell in 5 years should I need to. I hope you can answer some questions for me.

1. Is it true that it is harder to sell a townhouse/condo than to sell a house?

2. Does a house appreciate faster than a townhouse?

3. Is there room for more RE appreciation in the future in Houston?

3. Does it make sense to pay cash for a property?

4. Is the property tax the same everywhere in Houston?
This is a big issue for me.

I don't want anything fancy, just a roof over my head in a safe neighborhood. I am leaning toward purchasing a townhouse/condo at this point because it is less expensive to buy and to live in. I appreciate your thoughts and comments. Thank you.

[Kandy]

As with anywhere, it's all about location. Pin down a good place, then find what you can afford. Or find a great location with a home that needs a little work...fix it up over the next five years and then sell for a profit. You can change a lot about a home, but it's hard to change the location. ~K~

[Mustang1]

I wouldn't put down 100k for 2 reasons...1)you may not be there long-term and 2)interest rates are still managable

[Mustang1]

BTW, property taxes are simply a percentage of your home's appraised value so it's more or less the same with differences being based on what city and school district you are in.

[dinotp2]

i'm moving from maryland to houston,texas. i want to buy condo in safe neighborhood, under 100,000 dollars

[predatorprey]

1. Is it true that it is harder to sell a townhouse/condo than to sell a house?
Yes

2. Does a house appreciate faster than a townhouse?
If they are in the same area, yes.

3. Is there room for more RE appreciation in the future in Houston?
Depends on area, but more or less yes

3. Does it make sense to pay cash for a property?
Personal preference. Nothing wrong with it.

4. Is the property tax the same everywhere in Houston?
This is a big issue for me.

Outside beltway 8 has higher property taxes generally.

[cheryjohns]

Originally Posted by dinotp2

i'm moving from maryland to houston,texas. i want to buy condo in safe neighborhood, under 100,000 dollars

Where is work location?

For the most part, condos and townhomes are Inner Loop - and then west all the way to Highway 6 between I-10 and Richmond. Some, but not many in the far north. Some, but scary, to the east of 290. In fact, there are a few scary pockets in the first group.

Again, work location is key.

[westres1]

dont buy until you can afford to spend more. Nothing for under 100,000 is going to be in nice area. Townhomes have high maint fees that may push your purchase price much lower.

[texas7]

It's do-able and in safe areas but those areas might not be desirable by some people because they aren't in the "it" and "new" areas. La Porte has Bay Colony - nice townhomes, also Garden Walk. Clear Lake and Pasadena have some apartment style (meaning they look just like an apt. complex except you own) that are reasonable priced and in safe areas. I'm sure other, older areas of town have similar complexes if there is a particular side of town you need to be on. Just be sure you check the maintenance fees of the ones that grab your interest. Some have great fees while others are outrageous.

[DanielWayne]

Originally Posted by texas7

It's do-able and in safe areas but those areas might not be desirable by some people because they aren't in the "it" and "new" areas. La Porte has Bay Colony - nice townhomes, also Garden Walk. Clear Lake and Pasadena have some apartment style (meaning they look just like an apt. complex except you own) that are reasonable priced and in safe areas. I'm sure other, older areas of town have similar complexes if there is a particular side of town you need to be on. Just be sure you check the maintenance fees of the ones that grab your interest. Some have great fees while others are outrageous.

Yep we rent in what was once an apartment complex in Clear Lake, and all the units are owned by different people. Most owners live in the units. Safest area I have lived in so far. I think the smaller units would sell for $100,000. It's an older complex, and it shows, but the neighborhood is great.