U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Texas > Fort Worth
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 02-14-2012, 01:03 AM
 
2 posts, read 7,104 times
Reputation: 12

Advertisements

Hi, my husband, myself and three kiddos will be relocating to TX soon and I am in some desperate need of guidance. My hubby will be attending Southwest Baptist Seminary in Fort Worth, so we're looking to live in the suburbs within 30-40 minutes of this college. We're planning on buying a house with cash (we don't want a loan) so we have about $90,000 to work with... not much but we'll make do . Looking for as good of a neighborhood as we can get with the amount of money we can buy a house for, specifically a city with low crime and good schools. Can someone help me out with areas to look into? Any info would be appreciated! Thank you!

Last edited by Jess81; 02-14-2012 at 01:21 AM..
Rate this post positively Reply With Quote Quick reply to this message

 
Old 02-14-2012, 05:50 AM
 
Location: Grapevine, Texas
10,564 posts, read 22,483,605 times
Reputation: 8385
That's really not enough money to buy a house (with no mortgage) in a safe area, with good schools, 30 minutes from the Seminary. You either need to increase your budget by at least $60k, or strongly consider renting. Another issue is that homes in DFW appreciate slowly, so at the end of his training, you would be looking to sell and would probably break even or possibly have to bring money to closing.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-14-2012, 06:23 AM
 
Location: Simmering in DFW
6,955 posts, read 20,766,507 times
Reputation: 7230
Burleson and Kennedale would work, maybe southwest Arlington and Alvarado, too

927 Harrison St Kennedale TX - Home For Sale and Real Estate Listing - MLS #11713821 - Realtor.com®

301 Oxford St Burleson TX - Home For Sale and Real Estate Listing - MLS #11711592 - Realtor.com®

Saginaw is also a possiblity, but the traffic is pretty bad.

8528 Hawkview Dr Fort Worth TX - Home For Sale and Real Estate Listing - MLS #11680406 - Realtor.com®
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-14-2012, 06:27 AM
 
Location: Simmering in DFW
6,955 posts, read 20,766,507 times
Reputation: 7230
Quote:
Originally Posted by ChristieP View Post
That's really not enough money to buy a house (with no mortgage) in a safe area, with good schools, 30 minutes from the Seminary. You either need to increase your budget by at least $60k, or strongly consider renting. Another issue is that homes in DFW appreciate slowly, so at the end of his training, you would be looking to sell and would probably break even or possibly have to bring money to closing.
In general, I agree with this. However, breaking even means this family gets their money back instead of depleting it on rent. Brining money to the table to sell the house is a strong possibility. It would have to be considerably less than what they had shelled out for rent in order for a purchase to make sense. So, you are going to have to estimate about $1300 a month on rent vs. the cost of the home and maintenance, taxes & insurance and closing costs on both the buy and sell side of the house. .....
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-14-2012, 07:35 AM
 
Location: Grapevine, Texas
10,564 posts, read 22,483,605 times
Reputation: 8385
Quote:
Originally Posted by Squirl View Post

Saginaw is also a possiblity, but the traffic is pretty bad.
Saginaw is on the northwest side of Fort Worth. The seminary is on the southeast side of Fort Worth. That commute would be ridiculous!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-14-2012, 08:28 AM
 
38 posts, read 53,075 times
Reputation: 35
Quote:
Originally Posted by Jess81 View Post
Looking for as good of a neighborhood as we can get with the amount of money we can buy a house for, specifically a city with low crime and good schools.
Look around in Burleson. It fits these criteria well and is in the right place for commuting to the Seminary.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-14-2012, 09:30 AM
 
32,598 posts, read 51,186,049 times
Reputation: 18464
Frankly I think that is a bad move--
there is no guarantee that if you can find a decent house (which I really doubt) that when time comes for your husband to find a church you are going to be able to sell it for your costs...

you might consider that buying vs renting is a better financial move but you are paying for options--
buying a house at your price is more likely to put your savings in jeopardy in the long run

How long will he be in seminary? Three years?
most RE pros advise people not to buy a home if they have reasonable expectation they will be moving within 5 yrs...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-25-2012, 10:15 PM
 
Location: Arlington
243 posts, read 225,937 times
Reputation: 448
loves2read nailed it.

Don't buy a house for such a short stay. My dad is a minister, so I know this first-hand.

It's a short stay at Seminary, then you're off to the First Baptist Church of Who Knows Where.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Fort Worth

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top