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Old 09-25-2007, 07:49 PM
 
1 posts, read 1,956 times
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I am in the process of getting a promotion and will be moving down to the north dallas area. I'll be working in plano (W Park Blvd) and need some insight as to where my wife and i can move to in the area. I would like to stay relativily close to work, 30 min commute is fine. My wife and I are 24 yrs old and will be looking at homes in the $120K-130K range. I love the outdoors, specifically mountain biking, and my wife just wants something in a safe neighborhood. We're not much for fancy things, would like for this house to be a stepping stone towards a larger home in the future (as kids arrive). So we are debating on Condos/townhomes or small sq ft houses.

what are everyones thoughts on Condo's in the area? 1 bed, 1 bath?? Whats the resale on places like that? I would love to find a nice 2 bed, 1 bath condo if possible.

I've looked into lewisville a lot, basically because its close to some good mtn biking, but whats the town/surroundings like?

Hackberry is another town with brand new houses in my price range, but unsure about the commute and not close to mtn bikes trails...

I know for sure i want to live in Collin or Denton county, don't want the Dallas county insurance and taxes. other than that I don't know what to expect from the big city...

I APPRECIATED ANY HELP EVERYONE GIVES!!!
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Old 09-25-2007, 08:21 PM
 
Location: Kaufman County, Texas
11,241 posts, read 24,590,539 times
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If you're going to be working in Plano, I'd recommend living in Plano. Lewisville to Plano would be a LONG commute with heavy traffic the whole way on 121 or lots of lights and school zones on Hebron Pkwy.

You might consider looking to the east in communities like Wylie or Sachse. There are smaller homes there that will fit your price range, too.

GOod luck!
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Old 09-26-2007, 07:43 AM
 
Location: Dallas, TX
937 posts, read 2,767,993 times
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I wouldn't recommend a condo out in the burbs. They do not tend to appreciate well out there. I would guess this is because most are looking for single family homes out there.
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Old 09-26-2007, 08:00 AM
 
Location: West Bloomfield
418 posts, read 1,724,002 times
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Quote:
Originally Posted by lpepping View Post
I wouldn't recommend a condo out in the burbs. They do not tend to appreciate well out there. I would guess this is because most are looking for single family homes out there.
Totally agree with this. They don't appreciate well, and are very difficult to sell, when you're ready to move on. I've had a few friends that had condos on the market for well over a year, and when they finally did sell, they didn't earn any kind of a profit from them.
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Old 09-26-2007, 08:43 AM
 
1,067 posts, read 5,465,526 times
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I would find a good apartment around the place you would be working and then scoop out areas you would like to live. jmo. Don't jump into buying a home if you don't have kiddos.
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Old 09-26-2007, 09:34 AM
 
93 posts, read 446,600 times
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Quote:
Originally Posted by stargazer View Post
I would find a good apartment around the place you would be working and then scoop out areas you would like to live. jmo. Don't jump into buying a home if you don't have kiddos.
That's a very good point. There's no reason to rush into purchasing a home as the real estate market is in a questionable state right now, and interest rates don't appear as if they're going up anytime soon (my best guess is that we'll see at least another 1/4% drop if not more).

Condos/Townhomes in the suburbs seem to be a recent phenomenon in the DFW area. Previously one would find them closer to the city, but not nearly as prevalent in places such as Plano, Lewisville etc. They're great for people who don't want to do deal with maintenance, but I would be worried about long-term resale. Try pricing some of those townhomes to existing homes in the same area, and i'm willing to bet that pricing is fairly close. When you're ready to sell, what would be a buyer's incentive to buy an existing townhome vs. an existing "real" home if both are similarly priced?

It's my understanding that in areas with extremely high population densities (California, Chicago, NY, etc.), one would start off in a Condo, move up to a townhome, and eventually work your way up into a house. In DFW however, a house isn't all that much more than a condo/townhome in some cases, and you typically don't have to deal with high maintenance fees that you encounter in a townhome/condo.

I'd suggest finding something close to work, or at least trying out your commute in the morning when you plan to commute to see what traffic is like. If you don't have a compelling need to live in a certain neighborhood, why bother with a long commute. When you consider your time (and if you're driving alone, there isn't much else you can accomplish during your commute as opposed to public transit where you could be reading a paper, or doing something productive), the cost of gas, wear and tear on your vehicle, and stress, it might be best to keep your commute as short as possible.

The best type of real estate to buy, is the type you can sell quicly and easily down the road, and hopefully make a profit. For this i'd be somewhat hesitant to buy a condo/TH out in the suburbs.
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Old 09-26-2007, 09:42 AM
 
Location: Seattle, WA..Seattle Sucks: GO AWAY!
170 posts, read 823,384 times
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Sounds like the Addison area would be best for you. It is a quick 5 minute drive up the tollway to W Park. The area is relatively hip and urban when compared to the rest of the metroplex.

Plus there are plenty of restaurants, bars, clubs, and activities there. Just this past weekend Addison wrapped up their annual Oktoberfest which is always a blast. Then there is Taste Addison and other festivels which are very fun.

Homes range from 100k to over 300k. There are also some very nice condos and townhomes which go for roughly 800 to 1100 a month depending on the number of bedrooms.

The main thing about Addison is location. You will be near everything; Plano is up the road, Downtown Dallas is 15 minutes south, DFW Airport is 20 minutes west, and you have easy access to all major points of the city. I highly recomend the area.
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Old 09-26-2007, 10:05 AM
 
Location: Dallas, Texas
3,589 posts, read 3,768,389 times
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Quote:
Originally Posted by Embraer View Post
Sounds like the Addison area would be best for you. It is a quick 5 minute drive up the tollway to W Park. The area is relatively hip and urban when compared to the rest of the metroplex.

Plus there are plenty of restaurants, bars, clubs, and activities there. Just this past weekend Addison wrapped up their annual Oktoberfest which is always a blast. Then there is Taste Addison and other festivels which are very fun.

Homes range from 100k to over 300k. There are also some very nice condos and townhomes which go for roughly 800 to 1100 a month depending on the number of bedrooms.

The main thing about Addison is location. You will be near everything; Plano is up the road, Downtown Dallas is 15 minutes south, DFW Airport is 20 minutes west, and you have easy access to all major points of the city. I highly recomend the area.
I live just south of Addison and I like where I live. It's great for people who don't have kids and don't want/aren't ready to buy a home yet. I'll be in Addison until August next year, then I'll be ready to leave; but it suits me right now.
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Old 09-26-2007, 11:10 AM
 
Location: Dallas, TX
2,346 posts, read 6,586,883 times
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Default Re:

There are a wide variety of condos in the Park/Preston area. The area around Legacy/Tollway is the hot new townhouse location in Plano.

I agree with the other posters - I think you'd be better served renting an apartment or leasing a condo. In Plano, I doubt you'd be happy with the kind of single-family house that goes for $120K. If you can save $$$ and advance in your career until you're in the $180K range, you could swing something decent.
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