Buying a home the smart way! (cont.)

Welcome to City Park!

Continuing our theme of buying a home the smart way, I would like to highlight a great new community being built out presently here in South Houston called City Park! Located off highway 288 less than a mile before beltway 8, you will find one of the most affordable new home communities in South Houston!

Referred to as the last frontier by some, because of the lack of development in the area, the southern corridor of Houston, near Pearland has quickly become a hotbed of activity with the development of Pearland and the surrounding areas. At the intersection of Bwy 8 & 288 there is presently a huge retail development under construction with the first store being the Bass Pro Shop! This huge, big box retailer is the first in many stores to come to this area and eventually this will be one of the open air pedestrian friendly malls that has become ever so popular lately!

City Park is not a master planned community but it is the closest affordable planned community in the area and with homes starting as low as $100k, the potential for great appreciation going forward looks very good! (The average home in Houston is around $170k!)

Presently there are (3) builders with product in City Park, K. Hovnanian, Gehan Homes & Legend Homes! When I drove the area last week, there was plenty of activity going on with construction crews everywhere building as fast as possible and after talking with the sales reps from the builders and walking through the models, I definitely believe this is a great place to buy for those families wanting a suburban community feel within the city limits while being close to downtown & the Med Center! In fact, I would estimate the average driving time to the Med Ctr. at probably 20-25 minutes during early morning traffic and less than that during the non-traffic hours!

In the photo above is the Site Plan for the entire community which features over 650 residential homes, 3 luxury rental home communities and pad sites for several retail & office commercial buildings!

In my research, I have found that new communities in quickly developing areas like this that are still in the beginning stages of development represent great opportunities for appreciation as most of the price increases are yet to come. As the big box retailers complete and open their stores along with more of the homes being built out, the prices will continue to rise; therefore the sooner you reserve and/or purchase in an area like this, the more gains you are able to lock in!

Thanks for reading and please feel free to comment with any questions or comments regarding the blog!

Thanks

Tyron C. McDaniel, Real Estate Expert

tyron@tyronknowsrealestate.com