A Catch-22 with guys like Houston. You can try and draft the next stud EDGE guy, but that doesn't always pan out or you overpay for one in Free Agency and that can backfire.
If the Packers are considering Houston, hopefully, the Chiefs are only parting ways due to Cap and change in defensive scheme. Packers have a great source to know more about Houston in new LB coach Mike Smith. I would put a lot of faith in Smith knowing if Houston still has gas in his tank and just how valuable he would be to the Packer defense.
With Matthews probably on his way out and Perry either gone or mostly injured and unreliable, I would be in favor of combining the 2 approaches to landing 2 decent EDGE players. Sign a guy like Houston and then still use your first pick on another one. If both work out, you have just drastically improved your defense, if only one is a winner, you are still better off.