Condo in the city or house in the burbs (Dallas: rent, HOA fees)

[sunnysky]

OK, so I think I've decided I may buy this year instead of next because of the tax credit, but I'm wondering where do young, single homeowners live.

I'd like to some hear some thoughts about a buying a condo in the city vs. house in the burbs. What would you suggest and why for a 20-something single female? Budget is about $100K.

I've been looking at condos online in North and Far North Dallas. I also have been looking at homes in Garland and Richardson. I hesitate on the condo because of the HOA fees. But then, I'm not a big fan of yardwork either in a SFH, but I figure I could hire someone for less than the HOA fees would be.

Can anyone suggest any other good locations or zip codes in my price range? I don't want to be more than 20 minutes from Addison, where I work.

Also, if anyone can recommend a buyer's agent please message me.

Thanks.

[ChristieP]

Originally Posted by sunnysky

I'd like to some hear some thoughts about a buying a condo in the city vs. house in the burbs. What would you suggest and why for a 20-something single female? Budget is about $100K.

$100k isn't going to buy much of a house, and it probably won't be in an area where a single female would feel safe. If you don't like doing home maintenance or yardwork, save yourself the trouble and get a condo or townhouse.

[Lakewooder]

Try searching 75206 for condos/townhomes - I found some in your price range at 5757 Matilda -- walking distance to Granada Theater, Snuffers and Lower Greenville and also check out the ones on E. University, Sandhurst, Birchbrook, etc -- that is an excellent area and a very good value.

[sunnysky]

Lakewooder,

Thanks for the input. That is one of the areas I have been considering.

Originally Posted by ChristieP

$100k isn't going to buy much of a house, and it probably won't be in an area where a single female would feel safe. If you don't like doing home maintenance or yardwork, save yourself the trouble and get a condo or townhouse.

I don't expect $100K to buy me much of a house. I also don't need to live in the shiny, new areas. I'm OK with older, maintained homes in a neighborhood with nice, working class people. Are there any safe areas where people buy starter homes around here? I've seen quite a few homes in North Garland (75040) in my price range. Can anyone tell me if this is a good area?

In addition to high HOA fees, reports like this scare me away from condos: Investigation: Homeowner's Hell (http://www.myfoxdfw.com/dpp/news/Investigation_Homeowners_Hell - broken link)

[Grainraiser]

There are some nice neighborhoods in North Garland that might suite your news. For your price range I would suggest you look in the burbs in the southeastern portion of the city. Garland, Mesquite and some older parts of Rowlett may fit the bill. You would still need to be very selective when checking out a particular neighborhood. Drive thru it during the week and weekend to get a feel for the area. You may be able to find a smaller home built in the 90's that need a little work. If I were in my 20's I would be looking for a townhouse or condo due to not wanting to do remodel work. I would much rather spend my time enjoying the social scene IMHO.

[Dallas native]

Originally Posted by Lakewooder

Try searching 75206 for condos/townhomes - I found some in your price range at 5757 Matilda -- walking distance to Granada Theater, Snuffers and Lower Greenville and also check out the ones on E. University, Sandhurst, Birchbrook, etc -- that is an excellent area and a very good value.

I agree with Lakewooder about this area. You can get a lot for your money plus you would be close to work. Also, lots of restaurants, Central Market, other services/activities and DART rail are nearby.

As far as HOA dues seeming high, you have to look at the components that make up the dues and compare that to the same expenses that you would incur with a house. In a condo, the dues ALWAYS include the blanket insurance policy on the entire complex. So you just need to buy a contents policy for $300 or so per year to cover the interior and your personal items. Frequently, HOA dues will include water, sometimes gas. They will always include exterior and common area maintenance like yardwork, roofs, etc... With a house you are going to have to purchase your own insurance, pay your own bills, pay for yard work and periodic exterior maintenance. If you really compare the monthly dues on a condo to the expenses involved with a house, there is not always a whole lot of difference. It's just that with a condo you lump all the bills together and pay them monthly and with a house you pay many separate bills.

[sxrckr]

Condo/townhouse in the city.

[killer2021]

Start with a condo in the city close to your job. When it is paid off you can just rent it out and buy a house in the burbs if you want.

Being 5 minute walk from your work is more than worth it if you ask me! No stress from rush hour, save tons of time.