Buying a Houston new home is a sound way to invest and make a profit, although after living in Houston for a while and experiencing the low costs of living and pleasant weather, the owner may decide not to resell after all.

Houston New Home

Those planning to purchase a Houston new home will be pleasantly surprised at the affordability of real estate in the area. Although Houston is the fourth largest city in the United States in population, the local costs of living and housing remain much lower than other prominent cities such as L.A., New York, Chicago, and Philadelphia, and since Houston is growing much faster than these other cities, buying a home in Houston will likely prove a better investment. Future residents of Houston will also appreciate the warm winter weather, the public school system, and the ethnic diversity of the population.

Cost of Living Statistics:

For 2001, on an index where the number 100 represents the national average cost of living (higher is more expensive), Houston ranks a 60, where New York City merits a whopping 413 and Los Angeles earns a 145. On top of that, Texas charges no state income tax and Houston charges no local income tax, so Houston residents can experience a much higher standard of living than they would be able to elsewhere. Nearly half of Houston residents are homeowners, and since the median price of a Houston home was under $80,000 in the year 2000, it’s not hard to see why.

Houston’s Growth:

Houston has grown almost 20% between 1990 and 2000—a higher rate of growth than any of the other largest U.S. cities. The city among the U.S.’s top five largest with the next fastest rate of growth was New York City, which grew 9.4% between 1990 and 2000. So what does this mean to prospective buyers of a Houston new home? It means that a home in the area is likely to prove a sound investment, since areas with high growth rates also enjoy quick home appreciation. A good local real estate agent can help lead buyers to the neighborhoods with the best appreciation trends.

Houston Weather:

For those who like it warm, Houston is home to some of the best weather in the nation. Its proximity to the beach moderates the climate and prevents it from getting unbearably hot during the summer as do many other Texas cities. Houston’s average daily high during January is a pleasant 63 degrees, and during July, a toasty 93. Residents will also enjoy the continual ocean breeze during the spring.

Houston Public Schools:

According to many studies, the Houston public schools (and in particular the Houston Public School District) have made remarkable strides recently, and were held up as an example to other schools by President George W. Bush. During 2003, the Houston public school district won the title of Best Urban School District in the United States, from the Broad Foundation, based on a study conducted by the Manhattan Institute. Many Houston parents are actively involved in their children’s education through the non-profit organization, Parents for Public Schools of Houston, which was officially established in 1992. A Houston new home may provide buyers with not only a good investment opportunity in a pleasant location, but also with a great place to raise a family.

Houston’s Ethnicity:

Houston is one of the most ethnically diverse cities in the nation. Although there are too many ethnic groups and racial combinations present in the city to list, the predominant three groups are Hispanic (37.4%), White (30.8%), and Black (25.3%).

In Conclusion:

No matter what your race or background, a Houston new home provides you with the opportunity to make an affordable and probably highly profitable investment, in addition to a great place to live. It’s probably a good idea to purchase sooner rather than later, before Houston’s home values rise any more!

A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®