Buying Town Homes in La Villita, Las Colinas (Dallas, Irving: for sale, real estate)

[puding]

Hi,

We are interested to buy a townhome in La Villita of Las Colinas. We are living in one of the apartment communities near by for the past 2 years and we really like this area. We like the near by play parks, walking trails etc. It's pretty close to my work too (about 2 miles one way). We saw some townhomes which were built between 2005 -2008 but never lived in listed for $225k - $280 K. I guess they were bought by a corporation from the builder and they are trying to sell them. What are the pros/ cons of going with these homes? We are pre-approved for about $235-$240 k from both my bank and my credit union and I'm planning to put 10% down, so the finances are kind of ready. Would really appreciate some insight / advises on this. Thanks in advance.

[Squirl]

I live in the area and I strongly believe if you will own the property for another 10 years it will be a fine investment. However, if you think you'll be trying to sell before that, I'd stay with a SFH. The LC area is posed for great growth, but townhouses just don't do as well in the resale market. If you like the convenience of townhouse living, suggest you look at some SFH properties in the LC/VR area before you decide.

[Squirl]

Here's an example of a single family house that is in The Casitas. It would need some updating, but you can buy this in your budget and take your time. This community is on the canals of Valley Ranch, located in the general area where you are looking, in Coppell schools, has a very very low homeowner association fee that includes lawn maintenance and a pool. Because it has no shared walls and is in Coppell schools, I believe it is a better investment. There are other similar properties.....

619 Fiesta Cir Irving TX - Home For Sale and Real Estate Listing - MLS #11615630 - Realtor.com®

[LoveDallas]

I agree with Squirl. Buyers in Irving typically want some kind of yard and the townhome market just has not taken off like it did in Dallas. If you want the low mainanence of a townhome or condo what about turtle creek or uptown area? If you really want Irving then go for a house.

[puding]

Appreciate your input Squirs & LoveDallas. Yes, I'm planning to live in the home atleast 6-8 years and as I said earlier its pretty close to my work. Thanks again for your inputs. Will think over this and keep you posted with updates.