Why is Houston housing more affordable than others?
by Matías Bulox
on Tuesday, September 26th, 2017 at 11:24am.
As a homebuyer in the United States we know there's a question in your mind: what city should I move to?
There are a lot of factors to choose from in order to pick the city you want to spend the rest of your life and it's not a secret there is a very important one to look for: money.
Housing prices have become difficult to track, but the most important thing usually remains unanswered: do I have enough budget to take care of housing expenses? Should I try at all?
Well, if you are interested in living in the Houston, Texas area, we have very good news for you: it is maybe the most affordable of this country.!
According to a Real Estate study published recently by The Wall Street Journal, the percentage of income spent on mortage or rent payments is lesser in Houston than in other selected cities in the United States.
In places like San Francisco or New York, people usually spend more than half their income on mortgage, and almost two-thirds of it on rent.
Even if you haven't fell for those popular destinations, you may still watch your budget fade away if you try buying in Los Angeles (48.8% on mortgage, 58.6% in rent), Boston (36.3% in mortgage, 49.6% in rent) or Seattle (32.4% in mortgage, 38% in rent).
Well, this same study found out that on the opposite side, buying in Houston only represents spending 13.9% of your earnings on mortgage and 36.4% on rent, which means you can still use a great amount of your money on all the other necessities you or your family have, such as education, health or entertainment.
The investigation found out that places like Seattle or San Francisco are struggling with giving affordable prices since builders are only taking in consideration one kind of buyers: the wealthy ones.
On the other side, the article says, peers from Houston or even Phoenix have a huge housing stock accessible to a wider range of incomes.
Among other the reasons experts give for steady prices in Houston, they found that for instance, there seems to be an endless supply of flat land, making development easier and less costly. Another factor that brings better prices on the long term for people interested in a new home, like you, is the design of the city.
Even if people figure out Houston as a big city surrounded by suburbs, the truth is, there is a more accurate description of Houston as a set of "edge cities", since areas like The Woodlands, Pearland and Sugar Land have become cities on their own, which means, you don't necessarily have to go to Houstondowntown everyday to get education, jobs or other facilities. Those "little cities" are looking forward to satisfy them all.
As you can see, there are many reasons to buy your new home in Houston area, but there's only one question remaining unanswered: Who should I trust to get the best deals in the market?
The answer is: Tamborrel Properties, the No. 1 Real Estate Company in Texas.
-We have a strong relationship with home builders, in order to secure the best for your pocket. -We have an inventory of about 30,000 homes in all of Texas. -We offer you more than 100 new home inspections. -We help you select the best financing options. -Our realtors analyze all kind of data to let you make the best decisions.
Call us now at 281.796.0239 and get in touch with me, Matías Bulox. I'm ready to help you acquiring your new home as soon as possible.