Yet another "Where should I buy a house" ? (Dallas: sales, apartment)

[Leonard123]

It's not like you'll have a lot to choose from. The selection is going to be paltry and expensive whether you rent or buy.

Either way, you'll probably want to look in or around Fort Worth. I could be wrong, but my guess is that it won't be quite as crazy as the Dallas side, and it will be closer to your work. You might try posting in the Fort Worth forum.

[albert648]

If your office is in Fort Worth - forget anything in Dallas County. Not to familiar with the FTW side but I'd imagine somewhere in downtown FTW might appeal to you. Grapevine and Colleyville are pretty family oriented and you probably won't get something you like for your budget in either of those areas, and particularly not Colleyville.

Second the recommendation to rent first before buying.

[Leonard123]

Originally Posted by Rakin

Just be prepared for an extreme shortage of homes, 20+ offers and thousands over the asking price if you buy a home.

If your budget is say $500k then look for homes in the $450 range and be prepared to pay more. Don't look at $500k homes.

That may be in some of the most popular cities and neighborhoods, but that's definitely not the case all over, and I doubt even most areas. You wouldn't see anything like that where I live. I have no idea what it's like around Fort Worth though.

[Rakin]

Originally Posted by Leonard123

That may be in some of the most popular cities and neighborhoods, but that's definitely not the case all over, and I doubt even most areas. You wouldn't see anything like that where I live. I have no idea what it's like around Fort Worth though.

It pretty much is everywhere the OP describes / mentions he wants to live. Unless he wants to go somewhere far south out of town or maybe Forney.

[TurtleCreek80]

Originally Posted by UP 270

I want a house so I can build wealth. I'd consider a condo also if I could find one in my price range in a good location.

Not knocking your goal of home ownership. Just saying, spend a year in FW to get to know the various neighborhoods and suburbs as well as traffic patterns before panic buying a home just to get one.

[ChristieP]

Originally Posted by UP 270

I want a house so I can build wealth. I'd consider a condo also if I could find one in my price range in a good location.

What is your price range? It does no good for us to point you towards Colleyville if you can only spend $350k.

The mid-cities and Fort Worth are just as hot as Dallas.

[texstout]

Originally Posted by TurtleCreek80

Not knocking your goal of home ownership. Just saying, spend a year in FW to get to know the various neighborhoods and suburbs as well as traffic patterns before panic buying a home just to get one.

Especially if you are looking to focus on the dating scene. It'll be a lot easier to date centrally located near restaurants, nightlife than out in a family focused suburb. My single sister and her friends always prioritize dates that are geographically desirable (aka close to them).

[elnina]

Not a good time to buy house now. The prices are inflated, you will pay big bucks for a house that is worth less.

Also, you should rent first and explore areas yourself, not get influenced by internet strangers.

[biafra4life]

My two cents: No disrespect intended to the other posters who have advised the OP to wait a year, but while that would have been spot on advice 3 years ago. It's probably the worst thing he can do in today's environment. My younger brother just learned this the hard way. He could have bought a year ago, but he and his newly married wife decided to wait a year to explore and what not. Well fast forward today, the same houses now cost anywhere from 50-100K more, and as we all know, the inventory has dropped even more. He's kicking himself.

The difficult thing for the OP is that if he wants to build wealth, then buying right now is the way to go while he can still afford to. Only problem is that this can have a limiting effect on finding a spouse, due to the large size of the metroplex. If he buys in say Forney but meets a girl who lives in Prosper, well someone is going to have to change jobs/move to make the dating aspect work. Now he might get lucky and find someone who lives closer, but that is the risk he takes.
Now it's not an insurmountable risk, people have lived in different states and even different countries and found a way but just to keep that in mind. That being said, I would say try and get the house now, the prices will probably jump even more in a years time.

[Lorne]

^

Prices for real estate are projected to increase in 2022. Even if the fed raises the interest rate, it won't be anything like what we saw during the 2000s. US has so much debt that raising the interest rate too high will be detrimental. Unlike 2008, short supply and strong demand is what's causing the market to climb. Whereas, prior to 2008, supply was not an issue.