Relocating to Dallas, where to live? (Plano, Richardson: real estate, to rent, how much)

[Deadmaster200]

Hello everyone,

I will be relocating to Dallas sometime in July, and my workplace will be basically be the area where the Frisco Mall is located. I will be staying at a friend's place, who lives in Frisco, so I don't need to secure a place immediately.

Having said that, I would like some perspectives on where to live considering two different perspectives. Here are some basic info: Married, but no kids at the moment. Only I will be working for now. Budget is around 250,000. Max one-way commute of 30 minutes unless there is a REALLY good reason to make it longer (I currently travel 75 minutes one-way, so more than 30 minutes is a definite possibility if there is a good reason).

So, where would you recommend to live? and why?

I would like to hear some fresh perspectives considering the info above.

Then: where would you recommend if I were going to sell and move again in 5 years?

I would really like to get different sets of info on this as I have no idea if I will really move again in 5 years, but it is just something I promised as a possibility in case my wife cannot adjust to living in the US (she is Japanese).

I am completely out of touch with current economic situations, lifestyles, etc as I have been here in Japan for nearly 10 years, so any and all info would be greatly appreciated!!!

[kreeyax]

For 250K I'd buy a house in.... Frisco. If you are interested in new construction there is plenty of it along El Dorado road. It's close to the tollway and they widened the road to 6 lanes not too long ago. (It was a 2 lane nightmare before) From that area you're only looking at about a 20 minute (or less) commute to Stonebriar Mall.

When you get to Dallas, drive Main Street in Frisco, west of the tollway. Also drive Legacy south from Main Street to SH-121. All nice areas. Good schools if you and your wife decide to have kids some day.

If you're unsure if you'll want to move in a few years though I'd just rent. With closing costs and realtor fees, selling and buying another house can be very, very expensive.

[Squirl]

Makes good sense to rent and let your wife determine when/if she is ready to make the commitment to purchase a home. Sometimes it is a nightmare to sell a house. One of the happiest days is when you buy a place, but an even happier day is when you sell it.......

[TurtleCreek80]

If you really want to buy and think there is a strong possibility you will sell within 5 years, buy in Richardson or Plano. You will get an older home than in Frisco/ Allen/ McKinney, but in a more established & 99.5% built-out suburb. Schools are better and with a longer track record of proven academic success. Commute to Stonebriar in the 10-30 min range, depending on exactly where you buy.

Frisco, Allen, & McKinney are still being developed. Your 5 year old home will have to compete with brand new homes when you sell- and for whatever silly reason, people looking in the far northern burbs want "shiny & new" as opposed to "pre-owned.". Schools are not as established and with rapidly growing populations, school boundary lines are often moved. You could live in the same home for five years and have your kids attend multiple schools as boundaries are re-drawn and new schools open. You are also farther away from other job centers in case you don't stay with this job forever.

Lastly, Richardson & Plano have a bigger Asian population than the far northern burbs, if that matters at all to your wife.

[Deadmaster200]

Thanks for the replies so far. I am a bit familiar with Frisco as I lived there for a few years before going to japan from 2000 to 2002. My wife has already discovered Plano by herself looking for info on Japanese people living in Dallas. If Plano, what areas specifically? I remember my friend advising me to avoid Plano because it was either too expensive or too old.

[Ryan Kirkpatrick]

I agree with TurtleCreek80 on Plano and Richardson. Plano's real estate prices will be much more stable than Frisco's given that Frisco is still building out and will be for some time. I think you will be very surprised coming back to visit at how much Frisco has exploded since you left in 2002.

Plano does have a large Asain population and there are quiet a few communities with good schools that you'll want to look into. A few that come to mind are Russell Creek, Stonehaven Place or Bradford Estates just to name a few. These are all generally around the Coit/Legacy area. You will have quite a few options in your price range as long as you are not committed to a new shiny house just out of the box. Many Plano homes are still very newish so there wouldn't be too much compromise regarding this point.

Though you don't have children, school districts influence real estate values as you probably know. I would recommend narrowing your search to Central to West Plano as East Plano's schools are spotty in comparison.

[Lakewooder]

Buy in more established areas, not in "Frisclosure". If your job should change you don't want to be stranded so far away if you hate commutes. It can take 30 minutes just to get on to the tollway on those country roads up there.

[FL70]

I'd agree with most of the above. Frisco is a nice place, but selling in ~5 years will be a bit tougher because of competition from new builds. I usually hate to advise renting, but maybe for a year or less it makes sense.

That said, search the web in Frisco and see what $215K-$235K will buy and go from there.

[Grainraiser]

Originally Posted by TurtleCreek80

If you really want to buy and think there is a strong possibility you will sell within 5 years, buy in Richardson or Plano. You will get an older home than in Frisco/ Allen/ McKinney, but in a more established & 99.5% built-out suburb. Schools are better and with a longer track record of proven academic success. Commute to Stonebriar in the 10-30 min range, depending on exactly where you buy.

Frisco, Allen, & McKinney are still being developed. Your 5 year old home will have to compete with brand new homes when you sell- and for whatever silly reason, people looking in the far northern burbs want "shiny & new" as opposed to "pre-owned.". Schools are not as established and with rapidly growing populations, school boundary lines are often moved. You could live in the same home for five years and have your kids attend multiple schools as boundaries are re-drawn and new schools open. You are also farther away from other job centers in case you don't stay with this job forever.

Lastly, Richardson & Plano have a bigger Asian population than the far northern burbs, if that matters at all to your wife.

This advice is spot on.

[Deadmaster200]

Hey guys, thanks for the replies. Could anyone recommend any more specific areas within Richardson or Plano? I did a quick search on the 3 mentioned by Kirkpatrick, but didn't really like anything I found (again just did a quick search though).