In an earlier blog post, we’ve discussed buying luxury properties in Houston, and we’ve touched upon some really amazing reasons to consider moving to the “Space City”.
Besides being a good choice for living, Houston is also a booming real estate market. Many of the city’s neighborhoods are currently being constructed or rebuilt after being seriously hit by Hurricane Harvey in 2017. Moreover, Houston is expected to see the biggest population rise across the USA – unsurprising if you consider beautiful weather year-round, a thriving job market, and some of the lowest living costs in the entire US.
So, pushing forward the idea of realty investment in Houston is a great opportunity to learn, network, earn, and strengthen your investment portfolio.
Still, everything we have seen during the course of the pandemic has shown that nothing is foolproof and that without proper research and in-depth planning, you shouldn’t jump into some new project.
Whether you’re an experienced investor, or a real estate agent looking to build their investment portfolio, teaming up with experts in real estate investing in Houston will help you make wise and informed choices.
Therefore, we’re outlining x steps to find your perfect real estate investment property in Houston.
Define What You’re Searching For
It’s very easy to get overwhelmed by the variety of real estate properties available on the market. Plenty of natural light, unique features, exclusive location, and well-thought-out layout are only some of the aspects that can make you fall in love with a property.
However, all the way during your property hunt, stay focused on your desires and keep looking for a property that will help you make your dreams come true.
Plan Long-Term
It might not seem that way, but real estate is actually quite a stable industry, especially compared to some others, such as the stock market. Thus, prior to sealing the deal on your next Houston property, it’s a good idea to consider the future in several aspects.
First, what is your plan with the property itself. Do you plan house flipping or transforming it into your dream home/office? Define your next steps to avoid any legal issues or unplanned costs.
Secondly, does your plan fit the property’s looks, location, and future building plans in the neighborhood? Conduct thorough research into the prospects of the surrounding area, and make sure there aren’t any designs detrimental to your ideas.
Feel the Pulse of the Property
Realty isn’t just concrete and numbers – it’s people’s memories, dreams, and lives – and their connection with the places where they live, work, and enjoy is something to take into account.
Before finalizing a purchase, check the pulse of the area surrounding your property, get to know the people you’re buying the property from (of course, if possible), talk with the neighbors, and generally, try to spend some time there.
Leverage Technology
Tech is all around us, and realtors have been using different tools for developing marketing strategies, lead generation, data management, etc.
Utilizing technology in finding your perfect property is a no-brainer. Besides online Houston property listings, technology can help you estimate expenses, cap rate, cash flow and return, and much more.
Get to Know the Right People
Knowing the right person is sometimes half of the job done. Still, there are many players in the realty game, so you’ll have to step up yours.
While searching for the perfect property, mingle and get to know some of the top investor-friendly real estate brokers in Houston, real estate appraisers who deal with properties you are interested in. Moreover, find some property wholesalers and rehabbers/flippers in the area.
Establishing connections with many people with different real estate backgrounds and experiences can help you discover your ideal property – or at least help you run away from the wrong one.
Check the Weather
We’ve already said that Houston is blessed with mild, sunny weather throughout the year. However, some pretty extreme weather conditions affect certain Houston neighborhoods, so it’s a good idea to double-check the potential issues in the area.
Certain parts of Houston are prone to flooding, so before finalizing your property purchase, consult your realtor on the city’s flood zones.
Moreover, Houston’s proximity to the Gulf of Mexico makes it predisposed to hurricanes, especially in the near-shore areas, with the most beautiful views, unfortunately. Thus, you should think twice about whether you feel comfortable navigating a hurricane from time to time.
Wrapping it Up
How do I find a good investment property in Houston? If you’ve been pondering this issue for a long time, we hope we’ve answered some of your questions.
To find a perfect property in Houston, you will have to do thorough research of the weather conditions across different neighborhoods, building plans in the area, and check the pulse of the locals.
Utilize technology, but remember to meet a variety of real estate experts in the Houston area, who can share their unique insights with you, and help you make the best investment choice.
Last, but certainly not least, define in advance what you expect from the property, what will be its use, and what are your future plans with it. Make long-term plans, including a financial one.
Houston is an amazing city for real estate investments. Its job market is booming, the population is constantly on the rise, and it boasts powerful and well-developed industries. Besides, living costs in Houston are generally low, so whether you’re aiming to buy a residential property or create a modern business office space, you can definitely count on making a good choice opting for a Houston property.