Understanding the Housing Market

Texas Housing Market offers many choices in styles, locations

Every housing market is different and unique, with a variety of products, locations and choices in new homes. In many major metropolitan areas in Texas, the housing markets offer a wide variety of community and housing types and it’s always helpful to be familiar with the different terms.

Following are terms and descriptions relating to communities and housing styles, which are heard in locations throughout Texas.

Master-planned Community
Master-planned communities are an important part of many Texas markets including Houston, Dallas, Austin and San Antonio. The term master-planned defines a large-scale community that has a plan in place at its inception. That plan, which includes a diverse mix of housing and amenities, and in many locations, schools and commercial development, is carried out throughout the community’s development.

New-home buyers like master-planned communities because they have an idea, at any phase of development, what to expect of that community at its completion. The master plan will define the community’s borders, and will outline neighborhoods, common areas and amenities that can include walking/greenbelt trails, lakes, and neighborhood parks and pools. Master-planned communities are often compared to small towns and typically hold their housing value, particularly during times of economic downtown. Master-planned communities benefit from strict deed restrictions which preserve the integrity of the community.

Deed restrictions designed to protect the integrity and long-term aesthetic appeal of the community.
These restrictions maintain a uniform look throughout each neighborhood and offer residents the peace of mind that they and all of their neighbors are held accountable for things like the property maintenance of the exterior of their home, the care of their yard etc.

Deed restrictions also protect residents by making sure that their community maintains its character as a residential community, with all-residential development and commercial development remaining in areas designated in the community's master plan.

Active Adult
A term that has become very familiar across America in the last decade, Active Adult is best described as age-targeted housing and communities.

The aging and healthy baby boomer population is more important than ever, and meeting their needs has become a priority among builders and developers.

Active Adult communities are typically designed for buyers age 55 and up and include a mix of housing and amenities. Many active adult communities are gated, and offer a central social center, such as a recreation/activity center. Just as the name implies, this buyer has an active, bu sy lifestyle and wants all of the luxuries and amenities to which they have grown accustomed, in a home that is designed to meet their needs.

Active adult housing is created for luxury and low maintenance, with innovative floor plans and all of the features and appointments buyers in this market demand with design features that include open living areas, ample storage and work/hobby rooms. Many active adult homes offer more than one master suite, or two-bedroom plans with a study, second-floor options and covered porches and courtyards. The homes reflect the changes in the lifestyles of this market – those who no longer need a lot of bedrooms and a game room, but want enough room to accommodate their furniture and important items, as well as enough space to entertain family and friends.

While many active adult communities are age restricted, other communities offer an active adult or age targeted product.

These communities are also located close to major roadways, medical, retail and recreation centers.

Urban/Loft Living
Urban living in many cities has taken on several different looks. Lofts in most cities are often commercial or commercial style buildings that have been converted into residences. The designs are open and flowing, with high ceilings and in many places, exposed beams which add to the home’s urban charm. Lofts can be ground-floor or in mid- and high-rise buildings. They are usually at the center of a city.

Other urban styles include townhomes and brownstones which have long been and continue to be popular among urban dwellers. In many cities, brownstones are often historic buildings that are urban residences, while in other places, are built to resemble classic townhomes or brownstones. The homes share in their open, flexible designs, expansive windows to bring in the city views and luxury appointments. Other well-known features in urban lofts, townhomes and brownstones can include patios, balconies and rooftop terraces.

Affordable, luxury, custom
Many builders like to describe or even categorize the homes they build.
Most communities will offer a wide variety of styles and prices, but some neighborhoods will focus on a specific product.

Affordable, in a market like Texas, is considered a home priced under $150,000, and there is still a good selection of new homes in that category. Luxury can be considered a home that is priced $250,000 and up and include production and custom homes.

A custom home is one that can be built from the builder’s floor plan or set of floor plans, or the buyer can work with a builder and create a design, or hire an architect to design a home and bring the plan to a custom builder. Custom homes in planned communities often have to meet deed restrictions that are in place, which a build on your lot builder, who will build a home on a home site-owned by a buyer, may not have the same restrictions, depending on the location of the land.

Confused by housing options? Don't know if you should buy or rent? We can help, just ask.    

First Time Homebuyer