I am in a relatively unique situation in that I am looking to purchase a house for myself, with the intention of converting it to a rental property when I leave Texas in the probably not so distant future (<2ish years from now). For that reason, my number one concerns are finding a property/location that will continue to appreciate as well as have a steady future supply of renters.
That being said however, I do wish to enjoy the remainder of my time in DFW.. and as a single guy in his mid 20's, I don't want to be completely removed from nightlife, bars, social settings, etc.
I work near DFW airport, and have been commuting from near Upper Greenville in Dallas. That commute sucks and I'd rather not extend it much further.. My max budget is probably around 220k but I'd like to spend quite a bit less - I'm not afraid to put in work on flooring, paint, non structural stuff.
Does anyone have any recommendations for areas that I should consider that aren't ridiculously far from DFW airport but carry a little more entertainment value than Euless?
@Kevin Hays I think something like
3222 Shelia Ln, Dallas, TX 75220.
What you want to do makes sense...I have done the same thing myself before and I always seem to come out ahead. I don't know if this helps much, but here is a breakdown of MLS properties available within 25 miles of Dallas under $220K.
I can set up a MLS portal for you so you can get daily emails from the MLS on Dallas properties. Just let me know what email you prefer. Good luck!
@Kevin Hays this is a great philosophy to have. Your primary home should meet your needs first. If it fits your needs it will meet other people's needs who have similar wants to you in the future. Real estate is never a guarantee but DFW has been pretty consistant over the past 7 years. I would highly recommend to work with a realtor, and @Adam Wright is a good one, to find your home. Keep in mind when you buy a home you do not pay the realtor...the seller does. So it's in your interest to use a realtor. Let us know if you have any othe questions. Thanks!
@Adam Wright @Andrew Postell thank you both for the replies. I will most certainly be looking for a realtor, particularly one with experience in DFW rental properties.
I think the first step for me is to identify the area. I spent sometime driving around Irving/Las Colinas area where housing prices seem to be pretty low, but it sure seemed like there wasn't a whole lot going on out there. Once I can identify an area that would place me within a reasonable commute time from DFW airport yet still provide more of a nightlife/downtown/main street feel, it would make the home choice much easier.
@Kevin Hays Have you thought about Downtown Fort Worth? It has Sundance Square which is one of the most popular downtowns in the state. You also have West 7th Street in Fort Worth, not too far from downtown. You might also try Arlington near the sports stadiums. Rangers Live is being built right now and will be even more of a entertainment destination. Roanoke is also up and coming area with a lot more restaurant/bars than we have seen there in the past. Grapevine has a nice mainstreet area as does Southlake. You could also go north to Denton, where you have a two college town with all the entertainment/culture you would expect from a city with two universities.
Just for kicks. I did a search for properties under $220K within 25 miles of DFW airport. Here is how it breaks down.
I would definitely look into North Arlington. As Adam mentioned there is a lot of new development underway and forthcoming and it’s very close to the airport. It’s also convenient to the nightlife in both Dallas and Fort Worth.
Most likely you will have to pay way more than 225k to get a property that is in an area with a vibrant nightlife in DFW. Whether on the Dallas or the FW side.
If I were you, I would pick something in a really good school district, with quick access to DFW, under the 200k price range, but not worry too much about the nightlife factor. Mid cities and north Fort Worth puts you in a 15-25 minute drive to the airport. And the express lane give you that extra boost if you need to get there faster during rush hour.
And for nightlife, you can always get an Uber. And the distance won’t be a factor since traffic is much lighter later in the evening.
From a rental perspective you will have a property that will always rent quickly. Keep in mind that you will reach far more interested people in a family friendly neighborhood than in a hip, close to nightlife area that appeals more to singles.
And from an appreciation standpoint you will have something in your hands that will gain in value even faster, because homes under 200k in good neighborhoods are slowly becoming extinct in DFW.
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