A quick look through West University Moms website shows that this part of Houston has an impressive list of activities and resources. I’ll add to this impressive list with an aspect of H-town I’m passionate about: real estate and home- value appreciation.
Home-value appreciation isn’t necessarily why we live where we live, but it’s something that has benefited residents of this part of H-town in the past; it has the potential to benefit those of us who live here now as well.
Appreciation in neighborhoods near the Texas Medical Center (TMC) has been steady and constant. As the Medical Center grows, more people move to Houston for jobs in the medical industry and many want to live close to where they work. Home values in areas such as West U, Braes Heights, Bellaire, Southgate & Southampton tend to perform well even in times when home values in other areas of Houston are not doing as well. For example, when oil prices took a nosedive, home values in areas like Memorial went down, while areas close to TMC were flat or slightly up.
These neighborhoods have appreciated, on average, over the last 10 years by 40%.
Directionally correct. Actual percentage may vary depending on search criteria and specific property.
Projections for appreciation continue to look good as the TMC continues to expand. For example, construction on the new $1.5 billion, 30-acre TMC3 campus is scheduled to begin in 2019 with a completion in 2022; it is expected to bring 30,000 new jobs. These 30,000 new jobs will result in people needing to buy new homes and many will want to live close to TMC.
The future looks bright for your part of H-town. Home ownership within every neighborhood has both lifestyle and financial considerations. If your home no longer meets your lifestyle needs (need more space, school changes, or other), ask me about why there may be strong financial reasons to support a move or an upgrade. The combination of rising interest rates and capital gain exemption tax benefits may make now a perfect time to make a move to the next chapter of your story.
Every real estate transaction comes with a life story. Helping my clients through this major life transaction and on to the next chapter of their story is what motivates me as a Realtor.
About Margaret Vinson
Margaret is a top-producing Realtor with Martha Turner Sotheby’s International Realty. She is a native Houstonian who draws from 25 years of experience in the investment industry to address the critical business and bottom-line aspects of her clients’ real estate needs. She combines her corporate professionalism and her background of marketing, financial and negotiating expertise with her relentless desire to help her clients achieve their goals, to deliver a positive experience and to obtain the best possible outcome for her clients. For more about Margaret, please visit www.MargaretVinson.com