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Old 01-09-2015, 01:48 AM
 
3 posts, read 3,004 times
Reputation: 10

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Hello all:

I'll be moving from the midwest down to Dallas for work. I am a 28 year old male and have lived with a room mate my entire adulthood, so I'm always used to people around (which is both good and bad). I'm looking into purchasing a 1 bedroom condo in Far North Dallas/Addison or maybe go halves on renting a two bedroom unit in The Village. I hear The Village is almost a rite of passage for young out-of-staters moving to Dallas and would be a great way to meet people. I'm a professional and will be working near North Dallas Parkway and 635. As far as my lifestyle, I tend to be social and frequent bars often. This may change though as I've gotten older and not really into the bar scene much anymore. I do however love house parties/get-togethers. Besides bars, I also appreciate the arts and have been to the DMA my last visit there. I eat out often (usually on the cheap, thank you $ filter on Yelp), so cheap restaurants near me would be great. I do not have a flash lifestyle (thinking Uptown), prefer bars to clubs and live well in my means. I also have two very close friends in the area (one in North Arlington, the other in Bedford) and may visit them often, or they may crash at my place over the weekends (need quick access to get there and back). If I buy, I may be living with either of them for the short term until I close on a potential condo. These are the pros/cons I've gathered. Perhaps someone can give me a nudge in the right direction?

Far North Dallas/Addison
Pros:
-Home ownership, adding equity into my home.
-Close drive to work, less than a few miles.
Cons:
-I hear it's boring.
-Perhaps my tastes haven't refined, or that I'm still living with the college mentality, but going out in Addison seemed too high end (even though I could afford it, I just couldn't justify spending $25 for an okay meal + $10 for a beer when I was there last).

The Village
Pros:
-People my age/same place in life.
-House parties, perhaps?
-Seems like the thing "to do."
Cons:
-Further drive, I hear Dallas traffic is terrible. It is 17 miles each way.
-Why rent when I can just buy?

I feel like I'd be cheating myself if I don't get The Village experience. Is The Village that great of a place to live in for young singles? Would the extra commute to and from work be worth it? Are people really that friendly in The Village? On the flip side, is Addison really that boring? I'm open to other areas too, so suggestions are welcome.

Thanks!
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Old 01-09-2015, 05:32 AM
 
603 posts, read 679,150 times
Reputation: 743
I've never lived in the Village but I wouldn't sign up for a long commute just to live there. I'm not a huge fan of Addison either, but some people like it. I'd recommend you rent first. You may want to consider North Oak Lawn (75219). It isnt that close to your work but it would be a reverse commute on the tollway and it's not bad at all (15 min to addison). Good luck!
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Old 01-09-2015, 07:10 AM
 
3,171 posts, read 1,754,487 times
Reputation: 3401
Go to The Village, do not buy a condo right now.

You shouldn't buy the condo that you talk about for 4 reasons....

1. It is a one bedroom condo. One bedroom condos have much more difficult re-sale.
2. You are new to Dallas. Better to rent in an area for at least a year and see if the area is a good fit in all facets of your life.
3. It is in Addison/Far North Dallas, which is not a good fit for your current phase of life as a single male.
4. In general, I don't think never married, single males under 35 or 40 should own property. Way too much responsibility at a time in life when responsibility can be avoided.

Now, I'll make the case for The Village, some based on your criteria.....

1. There are inexpensive restaurants near The Village. Many of them. You won't be lacking for options.
2. The Village isn't the #1 destination right now for young singles. It is Uptown. The Village was the #1 destination from the 1970s-mid 1990s before Uptown revitalized. It is still a hub for young singles, but if you live in The Village, you will be going out in Uptown. It is a 5 mile drive. Granted, if you live in Far North Dallas or Addison, it is a much further drive to Uptown, but you will likely be making it because Addison's scene is not nearly as well regarded as Uptown's.
3. As a 28 year old guy, it is better to be in close proximity to other singles. You are more likely to get that in The Village than in Far North Dallas or Addison. The single females who are 21-27 are likely to be living in Uptown, Downtown, Knox-Henderson, or The Village.
4. If you have an active lifestyle, The Village has so many amenities right there. Tennis courts, a gym (including group fitness classes), a swimming pool, a putting green, and 2 softball fields. These activities are way to meet people.

Other things...

1. In both locations, you will be far from your friends in Arlington or Bedford. It is possible that you will not see them as much as you think you will.
2. The commute from The Village to Addison is okay. Expect about 30 mins each way, but the upsides make up for it.
3. Uptown may also be a fit too. I wouldn't be so quick to write that option off.
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Old 01-09-2015, 07:17 AM
 
11,688 posts, read 21,304,953 times
Reputation: 10092
Some things to consider:
1. If all you can afford is a condo, you only want to buy one in the uptown/Turtle Creek/SMU area. Aside of those stronger condo markets, the DFW area is a terrible place to buy a condo. Appreciation rates are much slower than single family houses and in many parts of the metroplex, condos actually have negative appreciation once they're not brand new. There are a lot of mismanaged condo HOA's who don't have adequate reserves to address deferred maintenance. You probably won't be building the equity you are counting on, especially if you only plan to own for 5ish years where the majority of your mortgage goes to interest, not principal.

2. I would pick the Village over Addison based on how you described yourself. I think you will find yourself hanging out along Lower Greenville, East Dallas, and maybe Deep Ellum. Those are the laid back neighborhoods where you can find cheaper good eats, great bars, live music, etc. Much less pretentious scene than Uptown and even Addison.

3. Traffic: the Village to 635/Tollroad is NOT a bad commute at all! You'll want to learn the side streets as it will be faster to take Southwestern to Hillcrest to Alpha to DNT or Greenville to Forest to DNT feeder than to take 75 to 635 to DNT or Northwest Hwy to DNT. I don't think it would ever take more than 20 minutes. That's really not bad in Dallas.
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Old 01-09-2015, 09:53 AM
 
487 posts, read 523,213 times
Reputation: 828
I'd say live in the village and stick to lower greenville and house parties as your social hubs. Uptown has managed to get even clubbier and more pretentious in the last few years. The hotspots like Renfeld's Corner where you could at least sit down and talk to the people next to you have given way to the new bar/club hybrids on cedar springs like Concrete Cowboy and Kung-Fu where they have bouncers, dress codes, $10 rail liquor, etc.
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Old 01-10-2015, 02:47 PM
 
Location: San Antonio
4,055 posts, read 4,445,810 times
Reputation: 4617
Quote:
Originally Posted by RJ312 View Post
I don't think never married, single males under 35 or 40 should own property.
Wow...
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