New projects bring more condo options

Finding your dream luxury condo is as easy as knowing what exactly is going on in the market for where you’d like to be.

With so many different properties in progress, the options are incredible for those looking to live in one of Houston’s most in-demand living spaces.

Paige Martin, a broker with Keller Williams Memorial, said there are about 15 new construction buildings that are actively selling.

When a condominium is under construction, how long can it take before you can actually reach a move-in date?

“Construction depends a lot on the size of the building. Midrises are typically built a lot faster than high-rises. Generally speaking, construction takes about one to two years,” Martin said.

Many buildings in various stages of construction are available at the moment. New on the horizon is The Chesterfield, which was just launched.

In mid-construction, find The Marlowe, Giorgetti, The River Oaks, The Sophie at Bayou Bend and Arabella. Move-in ready properties include The Belfiore, The Wilshire, 1011 Studemont and Astoria.

When buildings are under construction, buyers have choices on numerous options.

“The single best thing about buying under construction, especially early on, is being able to choose the best units based on views and floor plans,” Martin said.

“Typically, most buildings have one or two ‘best floor plans,’ based on the layout of the building and the direction it faces. High floors with the premier units usually end up being taken early.”

Also, as an early buyer, you have the ability to customize, Martin said. These can include finishes and more.

“The second-best thing about buying early on is that you get the ability to customize your unit with the selections that are most important to you,” she said.

Knowing the right questions to ask when looking to buy is the most important aspect of the process, Martin said.

“At the earliest stages, it’s important for the buyer to understand if the project will ‘make’ at all. Buyers should analyze the location, pricing, equity backers, debt backers, developer and how likely it will be that the developer can really sell enough units to be able to be completed,” Martin said.

In the middle stages of a new construction condo, Martin said to learn about potential pitfalls as well.

These can include knowing about getting a deposit back, handling independent inspections on your unit, whether the principals on the project had similar endeavors, and if so, have they faced any lawsuits and why.

Two final notes: Ask about how homeowners association fees are funded and managed, and find out what guest parking is available.

Photo courtesy of Arabella Arabella will offer high-rise living in the River Oaks District.

Photo courtesy of Giorgetti Giorgetti recently began construction in the Upper Kirby area.

Photo courtesy of The Wilshire The Wilshire is a move-in ready property.

Construction is underway at The River Oaks. Photo courtesy of The River Oaks