Lakewood Questions? (Lipscomb: schools, child, certification)

[relocatingmd]

Originally Posted by ChristieP

Did your agent tell you that there is a good chance you will lose money only owning a house in Dallas for 5-7 years? At best, you will break even, and at worst, you will have to bring money to closing when you sell. Our real estate market appreciates rather slowly in most years. You honestly might look at renting.

If her 4th birthday isn't until April 2016, that means she won't even be starting kindergarten until fall of 2017, right?

I was under the impression based on multiple people, not solely my realtor, but others in real estate that as long as we plan on staying past five years that we will at least break even. I'm not sure if I've been misinformed, but they are trusted sources.

We aren't against renting (and it was our original plan), but honestly the rental market in Lakewood (or M Streets) seems pretty poor. At least what we are used to in NY. I'm not sure if I didn't do my due diligence in regards to researching, but there seemed to be very little on the rental market. I do plan on continually checking the rental market.

Her 5th birthday is not until 4/16. She will attended Kindergarten in September 2016.

[relocatingmd]

Originally Posted by TurtleCreek80

There will definitely be more homes listed around/after Texas spring break (mid-March), but the number of buyers multiplies as well. I would also be open to buying a well-built/maintained $400k 3-2 and putting $200k into it (2nd story, add on, etc) to make it into what you want. Totally agree that $500-700k is not really a "sweet spot" for Lakewood area.

Thanks! We are definitely considering this as a viable option.

[JTC Mom]

Originally Posted by relocatingmd

I was under the impression based on multiple people, not solely my realtor, but others in real estate that as long as we plan on staying past five years that we will at least break even. I'm not sure if I've been misinformed, but they are trusted sources.

.

I would trust your realtor on this. No one knows the future of course but you should be fine after 5-7 years. Prices do appreciate slowly here, which is why it takes on average 5-7 years to break even. Each situation is different, details matter, etc. but 5-7 years is fairly safe time frame to expect to at least break even.

[LakeDad]

Originally Posted by TurtleCreek80

2. Lakewood Heights has a great location. Lee is not as well regarded as Stonewall Jackson or Lakewood elementaries although there are good things happening at Lee, too. The most unfortunate thing about Lakewood Heights is that it has really been attacked by "McMansion" builders and didn't have the conservation protection in place that other East Dallas neighborhoods like the M Streets or Swiss Avenue Historic District have. The flip side is if you want a well-priced new build, it is a good area to look in.

Lakewood Heights is bounded by Abrams, Monticello, Skillman, and Richmond. (Although you sometimes hear people extending it north to McCommas.) Inside of Lakewood Heights, the area bounded by Richmond, Skillman, Llano, and Abrams is zoned to Lee plus the two blocks above Tietze park where Skillman Church of Christ is. The blocks bounded by Monticello, Abrams, Llano, and Clements are zoned to Stonewall Jackson.

The houses inside of Lakewood Heights zoned to Stonewall tend to sell at premium compared to those zoned to Lee. Both areas are great and have many young families with kids, but most of the middle and upper class families from Lakewood Heights that are zoned to Lee tend to go to private schools.

[HockDad]

You may consider the Alcuin school. They start at 18 months, have a great reputation, have all day school, but is expensive. They have an equal or better reputation than any school you called.

[relocatingmd]

Originally Posted by HockDad

You may consider the Alcuin school. They start at 18 months, have a great reputation, have all day school, but is expensive. They have an equal or better reputation than any school you called.

Another attending recommended this school, (his children go to Greenhill) but he felt like the drive from Lakewood could be lengthy. True?

[jennifw]

Originally Posted by relocatingmd

Another attending recommended this school, (his children go to Greenhill) but he felt like the drive from Lakewood could be lengthy. True?

Not true. My daughter attends Dallas International which is right across the street. We can get to DIS in about 20 minutes. There are many ways to go as the streets are all in a grid. The only challenge we have is that her friends are all over town instead of right in the neighborhood.

Good luck!

[Lacajun76]

I just moved to Lakewood Heights and like the area, so much so that we bought into it

I think it's a great area, with close proximity to the lake, downtown, restaurants, bars, friendly neighbors etc. A house just recently went on sale on my street, Belmont, that might work for you.

We're currently applying for St. Thomas for our daughter, 3.5 for the PK3 program as she just misses their September cutoff. We were a little concerned about her having to repeat many of the things she's already learning / learned from her pre-school. However, we've come to terms with the idea that she is transitioning to a new school and could use the reinforcement of fundamentals. It would probably work out in the same way for your daughter. My understanding of Dallas schools is that the good ones can be tough to get into, not as tough as NYC or LA, but can be work nonetheless. Be persistent.

As others have said, Spring is better for the supply, but there's an increase in people looking. I think that now is a good time to look as houses on the market now will be more willing to negotiate on price.

You can always just compromise on the house and look for that piece of land in the area to build your forever house.

[HockDad]

Originally Posted by relocatingmd

Another attending recommended this school, (his children go to Greenhill) but he felt like the drive from Lakewood could be lengthy. True?

Depending on where in Lakewood, it can be 20-30 minutes.

[bencronin04]

Originally Posted by jennifw

The only challenge we have is that her friends are all over town instead of right in the neighborhood.

Good luck!

THIS! This is why my parents pulled me out of private and put me into public. However, if you're in Lakewood they will have others kids more than likely around. The closest person in age to me on my cul de sac block was 40+ years old.