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Old 12-24-2012, 07:40 PM
 
14 posts, read 20,894 times
Reputation: 10

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I've been lurking around this site since before I moved to Melbourne, FL and this is the first time I'm posting here.

I'm having a real problem deciding on where to live or how to live for that matter. I wanted to get others perspectives. I'm a Single 29yr AA male that has been in rural places(Cedar Rapids, Melbourne) for the past 5yrs but I'm originally from NYC and lived in Houston for 10yrs and now I'm looking to back to my roots of a more urban lifestyle.

Work: My new job will be near Ridgmar Mall.
Budget for Purchase: - 225k
Budget for Rental: - 1300/month

The Dilemma: I want a more social environment so the first place i focused was downtown. I couldn't find any apartments/condos in a high rise that I was looking for and the other rentals were not what I was looking for from a style and cost perspective. This is excluding the Lofts at West 7th which is currently my best option for downtown living.

I've also considered renting in downtown Dallas but I suspect that will be a nightmare in commute times. Then my final option is to just buy. There are a few condos at Lancaster and The Tower that are available but the HOA fees make it a nightmare.

Now i'm considering a single family home near downtown but I'm not sure where I should be looking. I know the Cultural District and Arlington Heights but I'm not sure of another areas that I should consider that are up and coming that aren't overtly expensive.

Style Choice: I'm more a new construction or newly renovated person. Not a huge fan of the older homes although I know those are more prominent in downtown within my price range.

This was a long winded way of say please help me lol.
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Old 12-25-2012, 03:07 PM
 
13,673 posts, read 8,935,742 times
Reputation: 10381
Quote:
Originally Posted by bxsteez View Post
I've been lurking around this site since before I moved to Melbourne, FL and this is the first time I'm posting here.

I'm having a real problem deciding on where to live or how to live for that matter. I wanted to get others perspectives. I'm a Single 29yr AA male that has been in rural places(Cedar Rapids, Melbourne) for the past 5yrs but I'm originally from NYC and lived in Houston for 10yrs and now I'm looking to back to my roots of a more urban lifestyle.

Work: My new job will be near Ridgmar Mall.
Budget for Purchase: - 225k
Budget for Rental: - 1300/month

The Dilemma: I want a more social environment so the first place i focused was downtown. I couldn't find any apartments/condos in a high rise that I was looking for and the other rentals were not what I was looking for from a style and cost perspective. This is excluding the Lofts at West 7th which is currently my best option for downtown living.

I've also considered renting in downtown Dallas but I suspect that will be a nightmare in commute times. Then my final option is to just buy. There are a few condos at Lancaster and The Tower that are available but the HOA fees make it a nightmare.

Now i'm considering a single family home near downtown but I'm not sure where I should be looking. I know the Cultural District and Arlington Heights but I'm not sure of another areas that I should consider that are up and coming that aren't overtly expensive.

Style Choice: I'm more a new construction or newly renovated person. Not a huge fan of the older homes although I know those are more prominent in downtown within my price range.

This was a long winded way of say please help me lol.
As for purchasing: I live in 'south' Benbrook, or that part of Benbrook that is north of I-20, and bordered on the north by Camp Bowie, on the west by Loop 820, and on the east by Cherry Lane. It is called the Western Hills area (due to the high school).

It is an older, established area, with lots of nice homes easily in your price range. Very quick access to Ridgmar Mall. I work downtown and it takes me 15 minutes or so by driving up to 820, thence north to I-30, and then east on 30. Anyway, a good area that has been overlooked by many newcomers, who seem to want to live where congestion thrives.

You are correct about the commute from Dallas. I would not advise that.

As for Arlington Heights: some of the area (within your price range, at least, south of Camp Bowie) is composed of older homes that are being torn down and replaced by larger homes. I mention it because you can still get some good deals and, if you are willing to live in an older house for a few years, you should make some money upon resale, giving you time to really get to know the Fort Worth area.

Also close to Ridgmar is White Settlement (a small suburb). A bit iffy, to me (my wife's family live there), but it is very close by and with your budget you can get a pretty fine house.
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Old 12-25-2012, 05:07 PM
 
Location: Kaufman County, Texas
11,816 posts, read 26,653,817 times
Reputation: 10537
The biggest question I have is how long do you plan to be in Fort Worth? Our home values appreciate very slowly here, so if you buy a house, and own it for less than 5 years, there is a good chance you will have to bring money to closing to sell it. If you are planning to move on shortly, then you need to keep renting.

Also, remember that with owning a home comes unexpected maintenance. You need to be prepared to replace a roof ($2500+), or a HVAC ($6000+) with short notice. If you can't do this, then keep renting.

White Settlement is likely not a good city for a home buying investment. "iffy" is a polite way to describe the town...
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Old 12-25-2012, 07:24 PM
 
14 posts, read 20,894 times
Reputation: 10
Quote:
Originally Posted by ChristieP View Post
The biggest question I have is how long do you plan to be in Fort Worth? Our home values appreciate very slowly here, so if you buy a house, and own it for less than 5 years, there is a good chance you will have to bring money to closing to sell it. If you are planning to move on shortly, then you need to keep renting.

Also, remember that with owning a home comes unexpected maintenance. You need to be prepared to replace a roof ($2500+), or a HVAC ($6000+) with short notice. If you can't do this, then keep renting.

White Settlement is likely not a good city for a home buying investment. "iffy" is a polite way to describe the town...
I know at a min I will be in Fort Worth for 2yrs but likely much longer. I can't predict the future but my plan is to be there indefinitely. I'm aware of maintenance and that is part of my calculations. I have allocated 1% of the cost of the home for home maintenance per year. This is light for the first year but since it will compounded it should be OK assuming no big issues in the first year.

I saw White Settlement on the map but didn't really see any properties there that I liked. I have been looking at Arlington too. I've seen a few properties around Road to Six Flags and they look pretty nice but I'm worried about the commute again.
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Old 12-25-2012, 08:52 PM
 
Location: Kaufman County, Texas
11,816 posts, read 26,653,817 times
Reputation: 10537
Quote:
Originally Posted by bxsteez View Post
I saw White Settlement on the map but didn't really see any properties there that I liked. I have been looking at Arlington too. I've seen a few properties around Road to Six Flags and they look pretty nice but I'm worried about the commute again.
You should be worried about commuting from Arlington, through downtown Fort Worth, and over to Ridgmar. That will not be an easy commute. If you lived in the west or southwest part of Fort Worth, your commute would be a lot shorter.

North Arlington is very mixed. There are good parts, and there are sketchy parts. Keep in mind that much of the homes that were razed to build Cowboys Stadium were old and mostly in poor condition. So, when you see places that are close to the Stadium, be careful about the neighborhood. You would do well to check out crime statistics for the area, too.

Also, keep in mind that traffic around the stadium when there is one game can be outrageous, and on the couple of times when there are TWO games (one at the Rangers Ballpark and one at Cowboys Stadium), it is an absolute nightmare.
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Old 12-25-2012, 09:23 PM
 
14 posts, read 20,894 times
Reputation: 10
Yikes! I thought it wouldn't be so bad since it was so close to I30. This is proving to be even more difficult... How is the commute from North Fort Worth, around the Fairway Bend? I heard there was construction being done on 820 for the new few years.
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Old 12-29-2012, 10:25 PM
 
83 posts, read 168,434 times
Reputation: 72
If you want to be real close to work look at the 76108 zip code, some neighborhoods in this zip code are Chapel Creek, Tejas Trails, Silver Ridge, and Willow Wood. These neighborhoods are about 10 minutes away from Ridgmar mall. With all the construction being done around IH820 & IH35 I would not want to be making that commute everyday from Fairway Bend. I know those areas I listed are "far" from downtown, but to find a decent home in a safe neighborhood close to downtown is going to be difficult, your best bet is the Arlington Heights area, but like a previous poster said, some of the homes in that area are being torn down, so that newer houses and townhomes can be built. I should also mention that White Settlement is located in the 76108 zip codes, so you should only look at the houses that are in the Fort Worth portion of that zipcode. I would also advise against buying a residence in White Settlement, the town has become really worn down over the past 15 years or so. It got bad enough that both Walmart and Sam's club moved out of there in about 2005 and relocated closer to Ridgmar. Target also closed it's store that was in the area( the old cherry lane location, south of IH30) and also relocated to Ridgmar.

Last edited by CelestinoZ; 12-29-2012 at 10:38 PM..
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Old 12-31-2012, 07:34 PM
 
Location: Kaufman County, Texas
11,816 posts, read 26,653,817 times
Reputation: 10537
Quote:
Originally Posted by bxsteez View Post
Yikes! I thought it wouldn't be so bad since it was so close to I30. This is proving to be even more difficult... How is the commute from North Fort Worth, around the Fairway Bend? I heard there was construction being done on 820 for the new few years.
Yes, it's a real mess right now, and its about to get a whole lot worse. TxDOT has just announced plans to totally rebuild I35W from downtown to 820 over the next 4 years. No way would I sign up for that commute until at least 2017 when all of the construction is done!
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Old 01-01-2013, 11:56 AM
 
Location: DFW
1,002 posts, read 1,290,132 times
Reputation: 1726
Quote:
Originally Posted by ChristieP View Post
You should be worried about commuting from Arlington, through downtown Fort Worth, and over to Ridgmar. That will not be an easy commute.
Of any freeway commute in this area, the one that you describe is probably the easiest. I've made a commute that covers most of that route for the last 15 years and I can count on one hand the number of times I would call it anything other than easy. And that is including the 3 or so years of reconstrution of I-30 through downtown.
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Old 01-03-2013, 08:54 PM
 
Location: Milwaukee, WI
26 posts, read 42,146 times
Reputation: 31
Doesn't Dallas have the DART?
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