Moving back to Dallas. Deciding on location. HP or PH (Houston: sale, houses)

[txinmyblood]

I grew up just outside of Dallas, went to college in TX and came back to Dallas after college. Well, living in Plano and Frisco, actually. Not technically Dallas, I know. I moved away for a little bit and I am not wanting to move back. I miss it. So I am thinking that by the end of the year I will be back. Here is my situation.

I am a single guy in my early 30's. Like I said, I have lived in Plano and Frisco. They were great suburbs, but I was too young for that at the time and found myself only there to sleep. Otherwise I was always south. Now that I am looking to come back, I have narrowed my choices down to two places. Highland Park and Preston Hollow.

With Preston Hollow I really like the larger lots. Good room for my labs to be able to actually have a yard. Since I am single with no kids, the schools are not a top of the list priority, but definitely something I want to think about. I like the easiness of this neighborhood.

However... Highland Park has a lot going for it. I love the location. I love the homes, parks, etc. The location can't be beat. And, should I meet the furture Mrs., this is an incredible school district.

So all of that to get to my main question. For those of you in/around these areas, which would you think would be better suited? I really do want to get plugged in to the neighborhood, make new friends, etc. I understand this may be a little bit of a challenge. I guess I am a little self-conscious, but I don't want to be "that single guy down the street."

Anyway, I am open to hearing your thoughts and ideas. Thanks.

[ChristieP]

What's your budget? That's the biggest consideration.

You do realize that these suburbs are family central, and there will be very few, if any, singles like yourself there, right?

[TurtleCreek80]

I would probably say neither and point you towards the adjacent neighborhood of Devonshire (immediately west of the Tollroad, between Lovers/Inwood/Northwest Hwy). The more northern streets have the larger lots you seem to be attracted to. Houses are well-built and well-maintained and prices reflect that. It is a younger neighborhood than both HP and PH and although there are a lot of young families, there are also a lot of single professionals and young couples without kids. Probably a bit easier to connect and make friends with neighbors. A big "outside" neighborhood with tons of people walking both dogs and babies!

Walking distance to Inwood Village (Eatzi's, Breadwinners, Inwood Theatre, etc) and all the great restaurants & bars at Inwood & Lovers (Shinsei, Rex's, Neighborhood Services, Timeout Tavern, etc). It's a fun neighborhood, less staid than PH and less family oriented than HP. And will hold it's value well so that by the time you meet your Mrs and have kiddos going to kindergarten, you'll make a nice little profit, too.

I have a few single guy friends in their 30's who live in the Park Cities and the single / no kids ones are not super involved with their neighbors. They just live there- great place to park $1-2M in cash for these private equity guys, but I've jus picked up that they don't tend to know who their neighbors. The ones who are divorced and have kids living with them part-time tend to be much more connected. Just FWIW.

[thenewtexan]

If you are single and can afford HP, go for it. It's much closer to the action, and the reputation speaks for itself. Worst case scenario, you get married, and decide you want to move out for more yard space, your house will sell in about 20 minutes, probably above asking price.

[Lovindallas]

Neither for all the reasons stated above. Also, you never mentioned your budget.

[txinmyblood]

Thank you for the responses.

With regard to budget, it is not a particular concern. In saying that, I certainly will not be purchasing any $15M estate, but would be comfortable at a little less than half of that. Commute is not an issue, as I will be able to conduct any needed business from my home.

Turtlecreek, I actually hadn't even considered the Devonshire area. I will certainly give that some thought. I want a property that will certainly hold its value and appreciate, but I also want to feel part of the neighborhood. This sounds like a viable option.

The majority of my friends from school and college have either moved to the burbs/mid-cities or out of DFW to Austin, Houston and NY. So it will be like starting over again. I find it funny that at my age I still get the feeling of being the "new kid in school" at the idea of moving.

[HockDad]

I live in PH and I previously lived in UP, and I would say that UP/HP is a "safer" investment. You put very little down about your financial situation, and really want you want in life, but I would lean toward HP before PH (although I like TC 80's suggestion of Devonshire-I would also add Greenway Parks).

One factor to consider is that HP houses will probably appreciate faster than PH homes. I think there are numerous factors why this is the case, but three of the most important: 1) schools. HPISD is the best public school district and people are willing to pay extra to live in that District. I sold my ex 3 bedroom home for almost 1 million to a banker with two kids. The house was not great (no garage, leaked air, etc.), but he was not willing to pay for private school and did not want to live in the burbs. 2) selection. HP is just limited in space. Thus, there are only so many homes that can be built and the overall space is not large. Moreover, unlike PH, most of the homes in HP have already been remodeled. 3) private school inflation. We have kids at multiple private schools. The tuition goes up at least 5% every year, and it is not uncommon for it to go up 7%. At some point, and we are not there because application are at an all time high, I would expect that tuition will play a large part in people's decision. At the rate that we are going, a first grader at St. marks today will pay 50k a year when he graduates.

[EDS_]

OP as you may be looking to buy in the $3/6M range I'd take a good look around. Lakewood, PH (Strait Lane, Essex, Park Lane, Inwood and Royal & Devonshire etc.) along with HP/UP each has homes that may speak to you. To my eye, because of the schools mostly, UP and HP are significantly worse buys than these other areas. I'd be surprised if you don't like the Devonshire area especially.

[txinmyblood]

HockDad,

My financial situation is very stable and secure. I purposefully did not expound on my personal finances because I did not want this to take an appearance of bragging. Through the sale of businesses and inheritances, there is enough to purchase a home in cash and retire. Although, I would go mad if I did not have something productive to do with my time.

As for what I really want in life... it is simple. I want to meet my better half and raise a family, providing them an uplifting/supportive atmosphere and the highest quality of life (please do not infer that as material possessions). A materialistic and entitlement attitude is the last thing I want for my family. But, that cart well ahead of the horse.

That is very good information with regard to private schools. That was actually a concern I had about PH (for the future). It seems to make sense that, if planning on a family, one should take advantage of the HPISD. Why pay for a private education when you can send your children to one of the best school systems for free?

[txinmyblood]

EDS,

I actually really like PH, Strait Lane area. I guess it comes back to my original question/concern, though, about being able to plug in to the community.

Maybe I am just looking at this too minutely and should approach the home as a place where I would feel comfortable and happy and look for community/social outlets elsewhere.