Market Conditions in Texas>Question Details

Karin, Home Buyer in Los Angeles, CA

is it better to buy an investment property in Houston or Austin Texas?

Asked by Karin, Los Angeles, CA Fri Jan 4, 2008

I want to invest in a property in Texas that can get me some revenue but I wonder where is easier to keep the proeprty rent out, Houston or austin?

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Dear Karin,
I lived in Houston for 25 years and Austin for just over 20. In my opinion austin is the better choice. There is a thriving economy and the outlook for new jobs is good, raising 4% this year. Catipiller is building a new plant in Seguin 30 min south of Austin. Prices here have been steady so far. There are plenty of people to lease homes. In my experience centrally located homes lease faster than ones further out. If I may be of further service just give me a call. I wish you the best of luck with your purchase!
0 votes Thank Flag Link Wed Dec 31, 2008
Always buy near a major school and state gov my dad always told me. The UT campus drives up to $1000 a bedroom for rent.... BTW- the schools growing at 20% a year
0 votes Thank Flag Link Sat Jan 26, 2008
soooo many cali and az folks have come here to do what you are thinking of, as a matter of fact I came to austin with the same idea. I don't mean to discourage you but we all know what happens to investor driven markets. Austin inventories are going up quite a bit with pending sales going down, so it is probably a decent time to buy, just make sure your investment model works for the time you need it to WITHOUT appreciation for the next few years. BTW I ended up in the hill country west of austin.
0 votes Thank Flag Link Sat Jan 26, 2008
Austin, buy near the University of Texas campus, if you can afford it.
0 votes Thank Flag Link Sat Jan 26, 2008
Wow, tough question. I can't speak about the Houston market but know that the Austin market is good. Are you looking for long-term investment or short-term investment property? What type of ROI are you anticipating? Here's a great link to check out the real estate market here...
0 votes Thank Flag Link Wed Jan 23, 2008
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