Galveston County is one part of the greater Houston area that has been overlooked by property investors for several years now. The property market might not be booming in this sector as it is in some other parts of Houston, but there is some huge potential in some of the best Galveston County neighborhoods.
If you are looking for some of the top places to live in Galveston County, you will be happy to know that the entire Galveston Island was rated as one of the best new places to live in Texas this year. There are a lot of new developments, and that is primarily where the market attention seems to be focusing. The older homes are still getting some buyer attention, but there is increasing demand for units in some of the nicer new developments.
This demand is something that a savvy real estate investor can really turn to their own advantage. Most of the complexes that are considered to be the top places to live in Galveston County are pre-selling units at incredibly low prices. Many of them are going in the under $200,000 price range, and you can find a lot of smaller units closer to $100,000 if you look in some of the lower-priced developments.
If you are a student and thinking about transferring to the local University, there are a lot of good student housing options up for rent or for sale. Some of the best places to live in Galveston County are actually student areas, and the culture and night life in these neighborhoods is always worth a look.
Buyers looking condominiums and lower-priced homes definitely will not be disappointed, as they can find a lot of small single or two-bedroom homes for around $100,000. When compared to prices for the same size house in a comparable area in Houston itself, this is an incredible bargain.
One of the main reasons why people are interested in buying in Galveston is that the beach and the island are great places to explore and relax. The cool sea breeze that flows over the island reduces the temperature and humidity during the day, and provides a much nicer atmosphere than you get on the mainland.
Obviously the top places to live in Galveston County are near the beach where you get direct access to the sand and surf. A lot of new developments and housing blocks are being built along the water's edge, so take a drive along the shore and see if you can pick out any bargains!
If you are worried about being isolated on an island off the Texas coast, there is no need to be. The island is connected to the mainland via a two-mile causeway and free public ferries, which can greatly reduce your transport costs. If you live on the beach in some of the top places to live in Galveston County you might have to drive or take a bus to reach the ferry departure points, but this is certainly more affordable than driving across the causeway.
Return on property investments in Galveston is a bit of controversial topic at the moment. According to CNN Money the median price for a moderately sized family home across the city is $159,600, while buying a home in one of the top places to live in Galveston County will set you back at least $259,566. The interesting thing is that across the entire city the home price gain is reported at a little over 20%, while in the best areas the gain is less than 10%.
Generally speaking then if you are looking to buy a small home to rent out, Galveston is definitely a place you should look at. Likewise if you are looking for a stunning large home at a decent price, Galveston County has a lot to offer you if you are satisfied with a lower rate of return on your investment. These rates are only short term calculations, however, and there is a lot of evidence to suggest that the Galveston property market will catch a large boost from all of the new developments taking place.
Author Resource:-
Edgewater is the Bay Area's newest mixed-use, master-planned community on 538 acres in the heart of Webster, Texas. Visit http://www.edgewaterwebster.com for more information.
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