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jordanmills wrote:That's new unincorporated pearland.

Do you mean unincorporated Harris or Brazoria county? How can it be unincorporated Pearland?

Definitely consider the plus and minus of a HOA. Some are pretty benign while others rival the infamous Condo Commandos of Florida. Personally I'll never own a home where there's maint fees and HOA rules because for me it negates the biggest advantage of owning over renting. Autonomy. Others look at their house as an investment and think a HOA protects their investment. Or they have large dogs or children and need a large backyard. Or whatever. Everyone is different and the great thing about America is the freedom to spend your money your way. For now.

The important thing is to consider what you really need and want from a home and consider all the costs, not just the financial ones, and weigh them against the benefits.

Also consider the economy and where you think it's going. If you think Hopey McChange will rebound the economy in 2010, now is a good time to buy. If you think it will stay about the same, maybe up or down a little, rent for 6 months and take your time deciding where (and if) you want to buy. If you think the ecomony will get worse in 2010, rent and sit on your cash until you find a real bargain.

Like TheArmedFarmer said recently, "As with all investments, you make money when you buy, not when you sell."