Just moved back to Dallas from Finland (Plano, Richardson: house, neighborhood)

[TX75007]

Originally Posted by New to Dallas2

Yes we've consider that,but Dave Ramsey advises against that.We hope to be millionaires one day,and a mortgage even a small one make that pretty hard.Oh I forgot to mention we plan on buying a small lake home in Austin(Lake Travis) in a couple of year,plus we like to travel about 6times a year (avg trip about $5,000 x 6= $30,000). Wouldn't mind a smaller cottage(spent the last 5years in a 1200sqft flat in Finland)but do they"Parkies" look down on that?

True.

The Park cities RE is low right now. It will definitely go back up. So a small mortgage in this can be to your benefit to your benefit, given the right appreciation rate and mortgage interest rates. However, the real estate taxes are not trivial on that value.

I'd rent the home on Lake Travis when you need it. Or just visit the B&Bs there and on Lake Granbury. The problem with homes in TX is that you have to pay taxes on the value. A 200K home will cost in Taxes and insurance, etc. When you compare renting or B&B vs owning, the renting comes out on net present value approach.

For both of these, running the numbers is worth it. You may find out that renting a small condo in the zip code you want is best use of your money. Renting for 2K per month vs 4K a month for taxes & insurance means the renting is the best approach.

As for Dave Ramsey. Not to get OT, but some types of debt are worth it. Again, you have to run the numbers. Raw farmland in a down market near a major growing metro area is a no brainer. Certain kinds of businesses with certain kinds of balance sheets are another. Some kinds of foreclosures are another. Estate auctions in rural areas are another.

[Lakewooder]

Originally Posted by TurtleCreek80

3. Lakewood is a beautiful, historic, charming neighborhood on the west banks of White Rock Lake. Great neighborhood. Schools are controversial- those who support them are steadfast, but a big chunk of the neighborhood goes private. Lakewood itself is close to lily white (similar to HP in that regard), but the schools draw from a larger geographic area and are something close to 75% Hispanic & 80% lower income come middle school. The middle and high school are in their first years of offering the rigorous IB program. I would recommend you come and visit all schools yourself since your kids cover middle & high school ages. Your budget is good for Lakewood but be prepared to move quickly because the spring market is hot there, too.

.

"A big chunk" goes private? How do you define a "big chunk"? City-Data figures show from 70 to 80% of 75214 (Lakewood) students go to public school. I have seen info that the Park Cities also has around 20 to 25% going private, but you would know that better than I - you said 20%. Recent stats from Lakewood Elementary show that the percentage of students going on to J. L. Long Middle School have risen from about 70% to 80 or 85% (I have seen two different figures).

Woodrow has around the Texas average of economically disadvantaged students, around 53-55%. J. L. Long has a higher percentage, which has been in the 60 to 70% range, but the info at both schools is old information and there is anecdotal evidence that it's lower now. There is also an possible attendance zone change which will switch some of the lower-income students to another high school - Woodrow has seen a 200 student increase since being accredited as an IB World School and implementing college prep academies while zones attending other schools to the west and south have fallen dramatically in enrollment. About 40% of that increase is students coming from private schools for IB. I have heard that there are 150 applications from schools other than J. L. Long for the freshman Pre-IB class next fall.

However, it is seen by many in Lakewood as a plus that the schools have a large range of economic diversity...some people outside the area may not understand that...

[New to Dallas2]

Ok we just got back from looking at homes all day!Looked at a home on Mockingbird(West HP non HPISD) that we thought was awesome for only $485,000.We also looked at a nice home in Preston Hollow area off of Preston( Mel shire she said)that looked awesome.The only downside is Dallas public school(I really miss Finnish schools!).So it looks like we have to go the private school route.We really like Greenhill.Which is better HP or PH?

[TurtleCreek80]

Originally Posted by New to Dallas2

Ok we just got back from looking at homes all day!Looked at a home on Mockingbird(West HP non HPISD) that we thought was awesome for only $485,000.We also looked at a nice home in Preston Hollow area off of Preston( Mel shire she said)that looked awesome.The only downside is Dallas public school(I really miss Finnish schools!).So it looks like we have to go the private school route.We really like Greenhill.Which is better HP or PH?

I would find out if your kids can even get into Greenhill or another private before buying anything anywhere.....because if they don't get in, you're stuck with the local neighborhood schools (which could be great like HP or awful like DISD TJ). The admissions deadlines have all passed for 2012-13 so you need to dialogue with the schools of interest ASAP.

If you do get into Greenhill, Melshire Estates is a great location! However, HP West has the leg up to PH as far as much lower taxes and HP's fire/ police/ trash services.

My favorite neighborhoods are Greenway Parks, Bluffview, and Devonshire in 75209- between Mockingbird and NW Highway just west of thr toll road.

[TurtleCreek80]

Originally Posted by Lakewooder

"A big chunk" goes private? How do you define a "big chunk"? City-Data figures show from 70 to 80% of 75214 (Lakewood) students go to public school. I have seen info that the Park Cities also has around 20 to 25% going private, but you would know that better than I - you said 20%.

20-30% IS a "big chunk", in my opinion.....

[New to Dallas2]

It looks like HP for us

[mami2emily]

Originally Posted by New to Dallas2

Ok we just got back from looking at homes all day!Looked at a home on Mockingbird(West HP non HPISD) that we thought was awesome for only $485,000.We also looked at a nice home in Preston Hollow area off of Preston( Mel shire she said)that looked awesome.The only downside is Dallas public school(I really miss Finnish schools!).So it looks like we have to go the private school route.We really like Greenhill.Which is better HP or PH?

Mockingbird is a major thoroughfare for the area...busy busy street. Make sure you visit the house you like on that street at different times of day so you get a clear picture.

TC suggested Greenway Parks. I love that neighborhood, it is beautiful.

There is no such thing as HP or PH being better than the other. It's more like which will be a better fit for your family based on what you are looking for. The same can be said of just about any place.

[Considering Coming Back]

Originally Posted by Lakewooder

There is also an possible attendance zone change which will switch some of the lower-income students to another high school

I have a hunch, but what exactly are you hearing?

[ANLr]

Originally Posted by New to Dallas2

We are looking for small class size, diverse student/teacher population, small town fill(everyone knows everyone)and walk ability . Lakewood/ Lake highlands looks like the place for us.

Lakewood fills the bill perfectly for what you are seeking. The only drawback is that some parts are very walkable and some are not. Some sections near the lake are very woodsy and feel remote even though you are just a few miles from downtown.

The schools also offer International Baccaluareate, which is not offered in other areas mentioned. If you are coming from Finland, perhaps that is importants.

[New to Dallas2]

We have also heard of a place called southlake,does anyone know anything about that place?Are the schools good? Is it diverse? and yea I know its far away!