Build on my own lot in 77096 (Houston, Bellaire: new home, safest neighborhood, purchasing)

[kevinleungcp]

I've been contemplating building my dream home on my own lot. I have made final decisions about materials and design details, found the interior design consultants and builders to assist me at every step of the way.

What I haven't figured yet is the location of the lot. I have a few friends of mine (in their late 30's early 40's) who live in Meyerland (north of Breaswood, between 610 and Rice) and I have to say I just fall in love with that particular area (love those matured trees and the peaceful neighhorhood). I think Meyerland as a whole still has a lot of potential for significant home value appreciation for the following reasons:

1) At the moment, I see a lot older homes being torn down to make room for new homes in the million dollar range and I expect this trend will continue if not accelerate in the near future
2) Great schools (zoned to Bellaire High, Lovett, etc)
3) Close proximity to fine dining, shopping malls and major amenities
4) Only 10-20 minutes away from Galleria, downtown, medical center, energy corridor, etc
4) Lot sizes >10,000 sf are not uncommon
5) One of the safest neighborhood in Houston
6) Desirable demographics
7) Still affordable compared to West U and Bellaire

Obviously building a million dollar home is a serious decision not to be taken lightly and I want to be as thorough as I can in the purchasing process by listening to as much advice as I can. Greatly appreciate your comments, concerns, suggestions, critique, etc.

[travelguy_73]

If you are building a home that fits with the newer construction in the immediate area (both sides of Braeswood), I don't see much downside or risk. You have highlighted the positives (and IMO, they are all accurate). Watch the school boundaries, and that is a big determinant of the value of the lot and home. Many of the neighborhoods in 77096 are zoned to Westbury High, so you can get a better deal on a lot, but your upside will be limited. I would also have a look across S Post Oak at Willow Meadows, part of which is also zoned to Bellaire. The teardowns will be more affordable.

Also watch out for the flood waters in this area. The water movement is pretty well documented, so I think you can look at the flood maps to get a good idea.