Houston’s market has wide price pointselection for condo buyers
Houston condo living has something for everyone, with a wide and varied selection at a very expansive price point.
Across the board from midrise to high-rise condos, there’s plenty to choose from.
Houston’s condominium market is stable and diverse, according to Houston Association of Realtors’ article, Benefits to Owning Luxury Condo in Houston. With busy lives, the low-maintenance lifestyle and convenience are appealing to buyers.
HAR said the appeal lies in five factors: size, minimal maintenance, amenities, security and location.
Paige Martin, a broker with Keller Williams Realty, said if people are looking to move into a condo for the first time, Houston has about 50 different high-rise and midrise options.
The best thing is that most of these buildings are located in popular neighborhoods such as downtown, Midtown, River Oaks shopping area, the Medical Center, Museum District and the Galleria area. In addition to being in preferable neighborhoods, these buildings also provide great accessibility to grocery stores, restaurants and retail stores, Martin said.
Buyers also should consider several factors when searching for their dream home, including area schools. The Renaissance at River Oaks is zoned to River Oaks Elementary and offers two-bedroom units, typically selling around the $300,000 range. It is one of the lowest price points zoned to this school, Martin said.
In addition, buyers should be knowledgeable of the homeowners association, construction and views.
“It becomes incredibly important to carefully check the quality of construction and resale trends on each building. Some developers did a far better job soundproofing buildings than others. Furthermore, certain buildings have much stronger HOAs, which helps with resale,” said Martin.
Higher-end luxury condominiums, such as 2727 Kirby, Montebello, The Wilshire, Bayou Bend Towers, Houstonian and The Huntingdon, have quality construction, solid HOAs and good views, Martin said, adding that established buildings also have a good resale history.
In Houston, there are only about 40-50 condos that sell above the $1 million mark in any given year, Martin said. At this price level, luxury condo residents typically benefit with excellent staff and high-quality amenities. Amenities can range from pools to tennis courts, hot tubs, Jacuzzis, putting greens, state-of-the-art fitness centers, party rooms and movie rooms.
Quality of life at the highest level is expected.
“Residents benefit both from having a true ‘lock-and-leave’ home,” Martin said. “They don’t need to do any exterior maintenance and have a wonderful staff to assist with cars, groceries and access.”
If buying a high-rise isn’t in the cards right now, leasing also can be an option. Martin said as a general rule-of-thumb, it’s more advantageous to own if you plan on being in the same spot for four years or more. Downtown has numerous new lease options, including The Aris, Market Square Tower and Catalyst, to name a few.