Welcome ... if I may be of further service, please feel free to get in touch.
Trend Setter Realty
Better Homes and Gardens Real Estate Gary Greene
The area you selected is very beautiful with great oaks, beautiful homes and great locations for rentals. The West University & Southampton areas has beautiful old homes. Prices in the area for townhome purchase will be above $350's -$400. When it comes to purchasing a home you can find homes in the range of $500's which were built in the 1930's and higher. New construction in the area will be higher than $500's.
Renting is very competitive also due to all the people relocating to the area and proximity to the Houston Medical Center. You will be closer to Rice University, Rice Village (shopping and great dinning), proximity to downtown, museums, zoo and medical center. The Houston galleria is not very far from the area also (6-7 miles). It is a great area.
Rental rates for older property or garage apartments will probably run you around $1,000. I have located under that price for 1 bedroom sometimes. Purchasing a home is always the best option as rent rates area higher. Houses have appreciate at a rate of 7.4% and you can always find great programs in you are a first time home buyer.
Buying is always better. Let me know if I can help
I'm an EBA and I wrote a book called "Buying a Home: Don't Let Them Make a Monkey Out of You". It will be the best $6 you've ever spent.
Best of luck!
Barb Kelley, Realtor
SRES, CHMS, CNE
RE/MAX Realty Center
Houston has had an influx due to the growth in jobs and housing has gained tremendous momentum beginning in 2013. Houston is a rather large city with attractive areas like Katy, Bellaire, Sugar Land, Cypress, The Woodlands, Spring, etc. etc. that have good family amenities and schools. Since it seems like you want to be closer to the Rice area, your budget will play a big role in determining where you can purchase.
What would you like to have in a home? How important is it for you to be close to your work? What features/amenities must you have? What is your budget?
If you are not familiar with Houston, renting may be a good option for a short term if you prefer to buy eventually. I just helped some folks from UK settle into a short term rental because they are eager to buy within 6 months.
If you will have temporary acommodations when you first come into Houston, it will give you a chance to go around some areas to see what you feel comfortable with. Let me know if you have more questions. The contact information below is the best way to reach me.
REALM Real Estate Professionals
I have some clients who work at Rice University, and recently chose to purchase in the Museum District. We had a very difficult time finding them a 3/2/2 home under $500k, but it can be done. Anything inside the inner loop of Houston whether buying or renting---will be much more expensive than what you can find in the suburbs. It really depends on exactly what you are looking for. Please let me know if you need further information on either---the Museum District & Rice U areas are a few of my specialties. Talk to you soon...V
Also, it's a seller's market at this time, and I think it will remain so through 2014. However I believe there will be more inventory on the market in a year, and I think you'd be better positioned to buy at that time.
Please let me know if you have any other comments or questions- thanks,
Nadeem - Realtor
Keller Williams Memorial
Best of Luck and welcome to Texas!