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Old 07-25-2021, 11:59 PM
 
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Hi there. My husband and I just moved to Dallas to be closer to his family. He has family in Houston but his siblings now live in Dallas. We are renting in Mckinney until we figure out where to buy.

We are first time home buyers in our mid-30s. Combined income of $140s (no debt except 1 car payment). We do not, and will not, have kids so schools do not matter. We are home bodies and not super fancy but would like a safer area. We will get a dog so a middle size yard or up is ideal (just not like crazy small). We would like a 3 bedroom, 2 bath about 1,350+ square feet. We are okay with newer homes or homes with cosmetic needs (new paint, floors, etc).

We both work from home right now, but he would like to be within Dallas in case or future commutes. We are okay with suburbs or smaller nearby towns. Our concern is that we both have health issues and worry about only having one income in the future. This could happen or might not happen, but because of this, we only want to pay around $250k to $275k. Do any areas come to mind?
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Old 07-26-2021, 05:50 AM
 
Location: Dallas, TX
1,069 posts, read 1,097,675 times
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Obviously a tough price range right now, but without schools as a consideration I might suggest looking in Garland/Rowlett/Sachse general area.
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Old 07-26-2021, 08:41 AM
 
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At that price range, you're looking at something older ('90-'05 vintage) for the sizes that you're looking for. You're realistically looking at a fixer or a condo, and I would make sure to have the place inspected inside out, upside down and backwards for anything older than 10 years. If you're commuting downtown, it'll likely be a nightmare. Your options are very limited for SFHs at that range, less so at $300k-350k, and even less so at $350k-450k. You might get more house for your money in Tarrant County.

You might get more bang for your buck if you look at townhomes that check your boxes. The market's been bat**** crazy the past few months and it's only cooled to 'mildly bat**** crazy' in the past couple of months. Homes on my block sell in less than a week at 3%+ over asking, and they're not anything crazy special.
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Old 07-26-2021, 08:58 AM
 
11,230 posts, read 9,231,684 times
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You might get into Casa Linda, Farmers Branch (not in Dallas, I know, but fairly close and decently convenient), over by Love Field, many areas of Garland, older portion of Richardson near Central on both sides, for that. You'll be looking at houses built 1940-1975 primarily. As long as they're pier and beam, or you can get a good structural report on the ones that are slab, you'll basically be OK.
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Old 07-26-2021, 09:31 AM
 
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Thank you very much! We are actually okay with condos (would love if it had a little grassy area). We can also go a bit smaller. Our apartment is 1025 sq feet, and we don't use all of it. The market is crazy!

Do you think it's smart to buy based on what might happen with future health stuff or pay a little more for a house now and downsize later if one of us can no longer work? This is the question we go back and forth on.
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Old 07-26-2021, 09:39 AM
 
8,181 posts, read 2,768,654 times
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Quote:
Originally Posted by Kimandben View Post
Do you think it's smart to buy based on what might happen with future health stuff or pay a little more for a house now and downsize later if one of us can no longer work? This is the question we go back and forth on.
Up to you really. Whatever you do though, I'd buy a property that would be net cash flow positive if you rented it out. That way, if it becomes too much for you if you have to go down to 1 income, you can downsize out of it by renting out the house and renting something more affordable for yourselves. Assuming, of course, you expect the single income situation to be temporary.

That's the only use case for you to consider schools. If you have to rent it out, your main market is families, less so if you got a 2/2.5 condo/townhouse.
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Old 07-26-2021, 09:39 AM
 
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Even in the hood of Garland are shy of 300
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Old 07-26-2021, 12:48 PM
 
Location: Kaufman County, Texas
11,822 posts, read 26,749,841 times
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Finding a house for $275k when the median sale price in Dallas County is $462,500 is going to be a tough sell.
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Old 07-26-2021, 04:25 PM
 
3 posts, read 4,530 times
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Quote:
Originally Posted by Kimandben View Post
Hi there. My husband and I just moved to Dallas to be closer to his family. He has family in Houston but his siblings now live in Dallas. We are renting in Mckinney until we figure out where to buy.

We are first time home buyers in our mid-30s. Combined income of $140s (no debt except 1 car payment). We do not, and will not, have kids so schools do not matter. We are home bodies and not super fancy but would like a safer area. We will get a dog so a middle size yard or up is ideal (just not like crazy small). We would like a 3 bedroom, 2 bath about 1,350+ square feet. We are okay with newer homes or homes with cosmetic needs (new paint, floors, etc).

We both work from home right now, but he would like to be within Dallas in case or future commutes. We are okay with suburbs or smaller nearby towns. Our concern is that we both have health issues and worry about only having one income in the future. This could happen or might not happen, but because of this, we only want to pay around $250k to $275k. Do any areas come to mind?
Quote:
Originally Posted by ChristieP View Post
Finding a house for $275k when the median sale price in Dallas County is $462,500 is going to be a tough sell.
It doesn't have to be Dallas County. It can be further suburbs or towns further out. We both work from home right now (and not because of Covid). We can go higher and have about $50k for a down payment.

We know it's a tough sell, though, which is why I am seeking ideas on areas where it might be more doable.
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Old 07-26-2021, 05:58 PM
 
Location: Kaufman County, Texas
11,822 posts, read 26,749,841 times
Reputation: 10541
Look in Euless on the west side of DFW Airport. There are small, older homes there (particularly in the streets named after Texas counties) that may fall in your price range. Tarrant County has less expensive property taxes than Dallas County, too.

If you need the name of a realtor in that area, send me a PM. I know a great one!
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