$750k budget - where to live? (Dallas, Greenville: real estate, condo, how much)

[CThopeful]

My husband and I will both be working in downtown Dallas. We're expecting our first baby this summer. Any thoughts on where we should live with a $750k budget?

Having a commute less than ~15 minutes is imperative and we'd love to live in a family friendly area where we can really be a part of a community. There are some older homes in the M streets and some duplexes in the Park Cities that might work. Any preferences between the two and any other areas we should be considering?

Thanks in advance for any responses!

[TurtleCreek80]

If you're ok with multi-family, HPISD schools are the best in the state. Fantastic family-centered community.

If you want a single family home, I'd look in Lakewood/ M Streets/ East Dallas where there are several strong elementary schools or in North Oak Cliff zoned to Rosemont Elementary.

You really can't go wrong with any of those areas. My guess is that once you visit you'll feel more "at home" in some more than others.

My real estate advice is not not buy on any major street in HPISD (Lovers Lane, Mockingbird, or Northwest Parkway) and to not buy within 1 block of Greenville Ave in the M Streets due to bar noise & traffic.

[brainofjjj]

The Midway Hollow area is very nice, lots of parks and homes right around your budget.

[lakeside15]

If you want good public schools, then M Streets and Lakewood would be a good fit. These areas are home to the best 2 public elementary schools in DISD, but things get shaky after elementary school, IMO. Just make sure the schools are zoned to Stonewall Jackson Elementary or Lakewood Elementary, respectively.

If you're not concerned with schools, then you can add the rest of the M Streets, and also the Preston Hollow/North Dallas corridor to your list.

[UnfairPark]

Since your baby isn't even here yet, you'll not need schools for next 5 years. You can live anywhere in Dallas and be minutes away from him and your home. Once your baby is about to enter grade school, you'll know better if you want public schools or private and move accordingly.

If your heart is set on public schools then Park Cities are your obvious choice. You can always move within that area to another house when you upgrade or upsize and still keep connection with your community.

[CThopeful]

Thanks to everyone for your responses.

We're torn on how much "more" home we could get outside of Park Cities, but clearly, the Park Cities has everything other than home size/condition going for it. I think we'll visit and have a better idea on what feels best.

[UnfairPark]

I fully understand the lure of bigger home but if both of you work full time then how much of it are you really going to use? Just more space to furnish, clean and cool/heat etc. :-)

[NP78]

Originally Posted by UnfairPark

I fully understand the lure of bigger home but if both of you work full time then how much of it are you really going to use? Just more space to furnish, clean and cool/heat etc. :-)

If the discussion is related to HPISD at that price point it isn't really about square footage of the house as much as it is about whether they want a SFH with a yard or not as TC80 notes above.

[TurtleCreek80]

Originally Posted by UnfairPark

I fully understand the lure of bigger home but if both of you work full time then how much of it are you really going to use? Just more space to furnish, clean and cool/heat etc. :-)

A $750k condo in HPISD is going to have roughly the same square footage as a SFH in M Streets/ Lakewood, about 2500. Might be able to get a house closer to 3000SFH if they can max out at $750k. We're not talking about the difference between a 2500sf condo and a 4500sf SFH.

[CThopeful]

Thanks, that's a valid point TC80.

I think it's the condition of the home - many of the $750k homes in HP are still older/not renovated (atleast the duplexes that I've looked at online) vs. a more updated/modern floor plan in a M streets home. There's also the perceived stigma of living in a SFA in University Park (not sure if that's just made up though by those that don't know or live in the Park Cities though).

Thanks again to all for the helpful responses.