Advice on Area for TCU Grad Student (Austin, Fort Worth: rental, condos)

[xms11]

Thanks in advance for your help. I've recently accepted an offer to join a TCU PhD program. My wife and I are very excited to move up to the Ft. Worth area.

We currently have a house in rural Texas, and once sold, will have about $100,000 in cash to work with. We don't want to take out a loan, preferring just to use the cash.

We are 29, have no kids, and don't plan to for a while. My wife is a teacher so the district schools aren't necessarily a big deal because kids years down the road would go with her.

We're interested in something small, within 20-30 minutes drive maximum to TCU, the closer the better, within our budget. I know $100K severely limits out potential possibilities, but looking for a 2/2, 2/1 or even 1/1, even land on which we could build a 400-500 sq ft tiny home, or whatever seems at least possible.

Realtor.com suggests there are a handful of small homes within the zip codes 76110, 76116, 76104, 76107, 76114(River Oaks?) that would fit the bill. None in 76109, but that was expected. I've also seen "Benbrook" recommended a lot.

So my question is: Would any of these areas be suitable? Are there any we should absolutely avoid? The major things we're concerned with are high crime and noise. Like I said, we don't need super high performing schools; we would simply like reasonably quiet neighbors (not frat streets) and the reasonable expectation not to be shot or robbed at any given moment.

This will be our third house. We are decently handy, but don't want to buy a complete money pit, and would obviously prefer it's mostly cosmetic work. I'm aware we're on the fringes of what is possible.

Unfortunately, we don't want to rent for a year to figure things out: We have 3 dogs, which would complicate our ability to do that.

Since we're just a few hours away now, we have the ability to come up and take a look multiple times at different neighborhoods and areas that might work for us, but some guidance from the many good people on here would be great before we get started.

Thanks!

[ChristieP]

$100k in a safe neighborhood? Ain't gonna happen. Even a 30 minute drive from TCU will still be too expensive.

Here's a recent thread looking for $150k... Best/safest neighborhood for MIL

76104 is high crime. Take it off your list.

[xms11]

Originally Posted by ChristieP

$100k in a safe neighborhood? Ain't gonna happen. Even a 30 minute drive from TCU will still be too expensive.

Here's a recent thread looking for $150k... Best/safest neighborhood for MIL

76104 is high crime. Take it off your list.

Christie,

Thanks for the reply. I'll check out the link. Are all the zip codes I listed considered high crime? Because as I noted, we have found a handful of homes in each zip code within our conditions.

[xms11]

Also, some supplementary questions:

If I stretched it out to an hour drive; does that open up any opportunities? The reality is I will be on campus three days per week, and I drove from Leander to South Austin (1.5 hrs one way in traffic) with little issue previously for two years. It wouldn't be my ideal, but I'm open to it.

Or is it more likely we're considering a condo or finding a privately owned rental that will work with three dogs while we save up some more money? I'm looking for solutions, not simple "It's completely impossible under any conceivable circumstance, the only safe neighborhoods here and anyone else for that matter cost at least 300 trillion dollars" type people/posts, for what it's worth.

I'm a reasonable person, and if you tell me they're going to rob me blind every other day while we're away from the house, I'll rule it out. But I also don't want to rule things out just because they aren't Mr. Rogers neighborhood.

[texas_nightowl]

Benbrook is a decent option if a small house comes up in your price range.

Since you are open to going further out, there are some small houses in Weatherford that are under 100k but depends on their actual condition. Depending on traffic, figure somewhere between 30-45 min.

There are land lots around but often they might require a minimum size square foot house. Example, my parents have a lot (not in FW though) that requires a minimum 1200 sq ft house. So you might now be able to put a "tiny" house up.

How long do you expect your studies to last? Do you plan on remaining in the area afterwards? Depending on the answers, it might make more sense to attempt to rent.

Also, I don't really know much about the makeup of Cleburne, but there are several quite decent looking homes there too and with the Chisholm Trail Parkway open (tolled), the commute wouldn't be terrible as far as traffic goes.

For City of Fort Worth, you can use the CrimeMapping site: http://www.crimemapping.com/map.aspx...1-9777a2cde15c

Also, 76104 and 76107 are definite high crime. The houses under 100k in 76107 are in "Como". Avoid.

[xms11]

Originally Posted by texas_nightowl

Benbrook is a decent option if a small house comes up in your price range.

Since you are open to going further out, there are some small houses in Weatherford that are under 100k but depends on their actual condition. Depending on traffic, figure somewhere between 30-45 min.

There are land lots around but often they might require a minimum size square foot house. Example, my parents have a lot (not in FW though) that requires a minimum 1200 sq ft house. So you might now be able to put a "tiny" house up.

How long do you expect your studies to last? Do you plan on remaining in the area afterwards? Depending on the answers, it might make more sense to attempt to rent.

Also, I don't really know much about the makeup of Cleburne, but there are several quite decent looking homes there too and with the Chisholm Trail Parkway open (tolled), the commute wouldn't be terrible as far as traffic goes.

nightowl,

Thanks for the info. I'll check out Weatherford and Cleburne.

Square footage is definitely a hurdle with any building considerations. I didn't actually consider that as super-realistic, but figured I'd throw it out there.

My program is meant to last five years; though my wife *really* wants to lay roots after this move, and I'm hoping to find a full-time job in the area after degree completion, so let's assume we're in it for the long haul.

Is Benbrook 76116? Realtor.com confuses me with what it lists as Benbrook, it seems like it considers a variety of different places as Benbrook; so want to make sure I'm looking at the real thing.

Thanks again!

[texas_nightowl]

Benbrook is mostly 76126. In a few places the boundaries are really weird. I don't see anything under 110k right now though. A couple at 140k. Good luck!

(Also, in case you missed it, I posted a crimemapping link for city of Fort Worth above).

[ChristieP]

Remember that a long commute, especially involving the Chisolm Trail Parkway, gets expensive. That money that you spend on gas could be spent on something else, and time you could be devoting to your studies. If your wife is also having to make a long commute to her job, that just doubles the problem, and if you plan to stay in the area, you could be looking at making that commute for years!

Como, Poly, Morningside, Meadowbrook, Northside, and anything east of 35W, are going to be high crime. Fort Worth can be VERY mixed. One street will be nice, but two streets over is the hood. Do use Nightowl's crime mapping tool and be careful.

If you could take out a mortgage for even $50-60k, that would really improve your choices.

[4Movingeast]

Nightowl and Christie have steered you well. I wish I had better news for you, but I think anything you found for that price would be way too far for either of your commutes and/or unsafe. Two areas to peek at (although you still need to consult crime maps) are Lake Worth and Saginaw. Try plugging in zip codes 76135 and 76137, and also 76179 for the heck of it and see what comes up.

[WorldKlas]

I don't agree 100% for the above posts if you are willing to commute. I am an investor and seek the same kinds of properties as you do with often a similar budget (I try to stay under $150K). So, here are a few suggestions:

1. Get a mortgage loan, the rates have been incredibly low! And the IRS tax credits for mortgage interest payments even reduces the loan interest your pay. Its a really great deal, especially if you are able to get assistance with closing costs. Put down $50K and put the balance in an interest bearing CD. Set aside about $10K for emergencies.

2. If you insist on paying cash and have to stay in your $100K budget, you are really looking at a place under $100K with closing costs. Pretty impossible but here are my recommendations for some areas with low house prices that I would consider as far as relatively safe:

*Kennedale -- close and safe to TCU -- but a commute
*Arlington zip code 76017 on the east side of Cooper. This area is quite safe and there are bargains here because everyone wants the west side of Cooper (which is the better investment because of better schools)
*The Bellaire Condos in Fort Worth
*Wedgewood and Edgecliff Villiage areas in South FTW -- you'll need to check the crime rates. My neice lives in Wedgewood and loves it; insists it is low crime. I have friends that say the same thing about their neighborhood in Edgecliff Village.