Buying a home in Bridgeland (Houston, The Woodlands: first time home buyer, safe area, construction)

[xkrix]

We are first time home buyers and are thinking about buying a home in Bridgeland (or nearby parts in Cypress). My question is will home values in Cypress and specifically Bridgeland not appreciate because of the extensive constructions planned in Bridgeland for almost the next 20 years?

We currently live in the Woodlands, while we love it here, the commute to Energy corridor (at least 3 days a week) is a leaves very little time for anything else

Thanks!

[waterdamaged]

Originally Posted by xkrix

We are first time home buyers and are thinking about buying a home in Bridgeland (or nearby parts in Cypress). My question is will home values in Cypress and specifically Bridgeland not appreciate because of the extensive constructions planned in Bridgeland for almost the next 20 years?

We currently live in the Woodlands, while we love it here, the commute to Energy corridor (at least 3 days a week) is a leaves very little time for anything else

Thanks!

The homes will still appreciate over time as the area is only becoming more desirable, but probably moderately and at a slow pace for at least the foreseeable future unless a huge corporation decides to build off of 99 or 290 immediately. Once the area is more built out/inventory becomes scarce and if the huge plans a lot of the mpc developments have for retail/office mixed use centers, then that could make appreciation much more dramatic, but nevertheless a long time away if it even happens. Specific to Bridgeland, you would probably have some difficulty selling your home, since selling a home in a neighborhood that's still building new ones is always harder, and Bridgeland is going to be building out for at least another 10-15 years. If you like the area and/or commute better, and you don't plan on leaving that house for the next 5-10 years, then I say pull the trigger and do it.

[xkrix]

Thanks waterdamaged!

Commute apart what would be the pors and cons of Cypress vs Woodlands. We are looking of a place with good elementary schools, safe area, lots of greenery- that is why we like woodlands; and a good quality 3bed home for around 350k.

I felt Katy was to dry- absolutely no greenery; not very familiar with other parts of Houston.

[waterdamaged]

The Woodlands has a lot more going on for it in terms of retail space, offices, dining, and the mall, especially higher-end retail, and it has a nice proximity to the airport. Cypress is a much closer commute to the energy corridor, especially if not during peak hours, a bigger bang for your buck in terms of price/sq. ft. of home, and some of the nice neighborhoods north of 290 have a very secluded feel, although this could start to change once 99 is completed from 290 to 249.

The main reason the Woodlands has more in terms of office space and higher-end retail is due to the sheer volume of wealthy households that are in or around it. Cypress has a decent amount of households in that range too, and the 77429 zip code directly north of 290 actually has the 2nd highest median household income of any zip in Greater Houston as the zip is largely upper middle class, but admittedly less truly rich families, which usually translates to less in terms of amenities which is the case. Personally I think Cypress is going to start catching up in terms of retail quality and volume, but it's going to take a good while before any of that happens. I highly doubt anything as nice or well planned as Hughes Landing will be built there though. I actually prefer having the bigger house for the same price, slightly less congestion on the surface streets, (if we're ignoring 290, although I-45 feels pretty rough too). I think those pros are worth it, and don't mind not having as much retail and dining options, but a lot of people feel the other way around. I'd say you should drive around both and see what you like the feel of more.

[smuggy_mba]

Originally Posted by xkrix

We are first time home buyers and are thinking about buying a home in Bridgeland (or nearby parts in Cypress). My question is will home values in Cypress and specifically Bridgeland not appreciate because of the extensive constructions planned in Bridgeland for almost the next 20 years?

We currently live in the Woodlands, while we love it here, the commute to Energy corridor (at least 3 days a week) is a leaves very little time for anything else

Thanks!

Bridgeland is nice; commute big problem. Also, tomorrow you might get a job at some place.

[chris_ut]

If you give your house budget people can recommend areas besides Bridgeland.

[Cypresstosocal]

Look at Towne Lake. Lots of folks there work in the Energy Corridor

[westhou]

Originally Posted by Cypresstosocal

Look at Towne Lake. Lots of folks there work in the Energy Corridor

Yes. If I ever decide to move back to Cypress I'm going with Towne Lake. That is going to be a truly unique community for that area.

[xkrix]

Thanks. Will surely look at Towne Lakes. Our budget is 350-400K. Would like to stick closer to 350...

[haudi]

Good luck finding that in Towne Lake. You might be able to find a few resale homes for that price, but you'll be closer to $400 - $425k for building even the smallest homes offered in TL once you deal with lot premiums and any upgrades. TL also charges a foundation fee due at closing.

For that budget, look at Cypress Creek Lakes right next to TL in the 60' and 70' sections. I was in the same position and ended up building with my favorite TL builder in CCL and stayed under $400k.

Originally Posted by xkrix

Thanks. Will surely look at Towne Lakes. Our budget is 350-400K. Would like to stick closer to 350...