Heights house or Rice Military/ Washington Ave T

[txeconomist]

Houston Heights or Rice Military/ Washington Ave Townhouse

I am in the early stage of looking at houses in Houston. I work downtown and spend a lot of time at Memorial Park—golfing and running. I want to live somewhere pretty close in proximity to these places. Memorial is pretty high dollar and I am probably not looking to spend much more than 250K. A friend of mine about a year ago purchased a house in the Heights for about $225 that I like and would be happy with. Im afraid however that something along the lines what he bought a year ago, is no longer available for 225K, but perhaps more like 285K. This probably a little more than I’m looking to spend.

For about 250K, it looks like you can get a pretty nice 2 bedroom townhouse west of downtown. Would I be crazy to go for a new/ newer townhouse over an old house in the heights? I am afraid that there are still a lot more townhouses that are going to pop up over the next couple of years, and in 5 years if I wanted to sell… it might be a pretty competitive market.

I am 25, with no plans of having any kids anytime soon if that makes a difference.

Thoughts?

 

[RoundRobin]

Townhouses are a dime a dozen and you can probably get a good deal but you need to do your research. There are stories every week in the Chronicle of people who bought townhomes that are now falling apart.

I really like the Heights area but most of the stuff there is way overpriced. Check out some other areas near downtown as well(Montrose, Hyde Park, etc.).

 

[oak forest horn]

If those are your only two choices I would gow with the Heights. If you drive by the townhomes being constructed on Washington Ave, you will see that its a disaster waiting to happen. The area will be far over built and not sure that "density living" will ever take off in Houston.
On the other hand, you will own land in the Heights. The area has always been quite desirable and will continue for sometime. If you think the Heights are over priced, try Garden Oaks, Lazy Brook, and Oak Forest. These areas lag behind in the offerings of the Heights, but the proximity to downtown, Memorial Park, etc will keep this area desireable for a long time.

Good Luck

 

[txeconomist]

No, these are not my only options... I am willing to live other places... Like I said I have just began to look... keep the alternative location suggestions coming.

 

[DLev]

I live in Rice Military and work in downtown. I live between Westcott and Shepherd and Memorial and Washington. A lot of the new building is north of Washington and is a lot shadier a neighborhood at this point. I would definitely prefer my little neighborhood over the heights for your situation. Maintaining an old home is a lot more work than maintaining a town house. Also, many parts of the Heights are not that safe. On the other hand, I have very little backyard and wish I had more.

 

[TexasERod]

I live a block north of Washington (Center St) in between the Pearl Bar and the ugly new development with Joy Yoga. Sure, the area is a little suspect, but i have no problem walking in between townhomes (my sister lives down the street) at any time of night, but I wouldn't venture out too far into the neighborhood.

I was also worried about the over saturation of townhomes in the area, but most of the ones that go up for sale in my block have sold quicker than I expected. But there are still new ones going up all the time. I guess we will see how it goes. I will putting my up for sale in the next month or two due to a new job in a different city.

I've read some of the issues other townhome owners have had, but with our builder (HHN Homes), they have actually come back and fixed whatever problems we've had after 3+ years. (we had a bad leak on a huge window on the 3rd floor that was taken care of free of charge. Other owners had the same issue and they did theirs as well). I've had a couple of other Warranty Requests that were taken care of as well.

My .02. Good luck.

 

[Nonbryan]

Hands down, Heights.

 

[hollisdude]

I'm an appraiser and just did a 3 story new townhome in Rice Military on Rose St.

There is currently an 11 month supply of these homes in that area. It is a buyer's market.

That being said, I wouldn't give a dime for some of the stucco boxes they're building nowadays. Theyhave wood floors and granite countertops and a fireplace. So what.

Our research is pointing at stable prices right now in Rice Military area, but it will not appreciate like the Heights. If this is for an investment, you should plan to stay 5-6 years before seeing a return.

 

[Bevo04]

Heights. I lived in midtown for 3 years and a lot of my friends lived in the Heights. Although there was/is a lot of stuff to do in midtown, the Heights was a lot nicer and safer....at least least I felt safer in the Heights.

 

[NoleHorn]

The open drainage ditches in Rice Military drive me crazy.

 

[Mack Tripper]

In 10 years, the West End/Rice Military is going to be a huge townhouse ghetto of 15-20 year old townhouses in bad shape.

I've lived in the Heights since 2001, and I'm not sure what parts wouldn't be considered safe. The problem is the market -- not much value left here. For better values, take a look at Eastwood, just east of downtown, which was designed by the same guy who designed the Woodland Heights part of the Heights. There are also some decent deals to be had in Garden Oaks and Timbergrove.