Downsizing DFW (Dallas, Plano, Henderson: condos, townhomes, neighborhoods)

[UnfairPark]

We are hitting retirement age and about to be empty nesters and dreaming up diffrent scenarios for downsizing. In first one we sell our West Plano home since we don't need as much space, schools or location. We'll be quitting our jobs and start an internet business so any suburb would work. We'll need a three bed single story or townhome. If you were in our shoes, where would you buy? We would like to stay in DFW and buy on cash so preferably <$300k.

[TurtleCreek80]

I would buy a condo or townhome in the Uptown or Knox-Henderson neighborhoods. Great for empty nesters - take advantage of all the culture and entertainment that Dallas offers! There are more empty nesters there than one would think, too.

[Katana49]

Originally Posted by TurtleCreek80

I would buy a condo or townhome in the Uptown or Knox-Henderson neighborhoods. Great for empty nesters - take advantage of all the culture and entertainment that Dallas offers! There are more empty nesters there than one would think, too.

Solid advice, but finding a 3 bedroom for under $300k there is doubtful. 2 bedroom is probably doable.

[Rakin]

You and thousands of us older folk have the same problem of finding a smaller home at a lower price. You're competing with all the 1st timers and Investors. This is one of the things creating a logjam in housing. Your home may never come on the market unless you can buy and that can be a challenge. I downsized in 2009 and would not mind again but where do I go ?

Like a 1st time buyer, under $300 means you have to go out a distance for a SFH. You can pick up a nice 1 story in Lantana for about $350. You might try Celina or North Ft Worth. One stories can be a challenge since most homes built now are 2 due to smaller lots.

[mSooner]

What do you care about being close to? What are your hobbies?

[TurtleCreek80]

Originally Posted by Katana49

Solid advice, but finding a 3 bedroom for under $300k there is doubtful. 2 bedroom is probably doable.

You are right. I missed the part about 3 bedrooms. That will be hard under $300k.

[UnfairPark]

Our hobbies are pretty standard, eating out, watching movies/plays/sports events, visiting museums and parks. Most of our family is scattered around the country, most friends live in Collin/Dallas counties. We would like to be near good healthcare facilities.

I'm not sure if we would can handle rural life so moving towards Dallas makes more sense. I understand that budget is quite low but if I have to pay >$500k then it won't be a true downsizing.

[TXNGL]

Originally Posted by UnfairPark

Our hobbies are pretty standard, eating out, watching movies/plays/sports events, visiting museums and parks. Most of our family is scattered around the country, most friends live in Collin/Dallas counties. We would like to be near good healthcare facilities.

I'm not sure if we would can handle rural life so moving towards Dallas makes more sense. I understand that budget is quite low but if I have to pay >$500k then it won't be a true downsizing.

Yep. Factoring in property taxes, too. Hubby and I are in the same position. He wouldn't mind moving north, I'd rather move closer in. Another issue for us is trying to find newer (his preference, not mine) but not multi-level...who knows how well we might be dealing with stairs ten years from now? >500k is difficult. And then you add in monthly fees for newer townhomes/condos. Sigh.

[UnfairPark]

It seems most of us are in same boat as new home buyers, at least we don't have to worry about schools and commute.

[TXNGL]

Originally Posted by UnfairPark

It seems most of us are in same boat as new home buyers, at least we don't have to worry about schools and commute.

Yep. When I search around on a certain site (can't name it here but it's my favorite) I have to stop myself from looking at schools! Done. So done.