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Tc: 150k, yoe: 5, single in late 20s I got a job in Dallas, TX and I will be relocating. Should I buy or rent with the housing market on the high? p.s This will be my first house. Buying or renting, I am looking for a place near Galleria Dallas. I would prefer a closed/secure parking space for my motorcycle. Found some 2bd/2ba condos for ~185k with $300 HOA/month. I will be able to come up with 15% down. Renting 1bd/1ba will be ~1k while 2bd/2ba will be ~1.3k. What are your thoughts? Thanks!
R U sure that you are settled? Otherwise, renting is the way to go. Keep options open.
I am not settling down but rather I am looking at it as a rental investment in the future when I settle down. Does it make sense to pay towards the mortgage and own a property than paying rent? How is the rental market in Dallas (area near 645 and Dallas north tollway intersection - Addison, north Dallas)?
There's a lot of videos on YouTube teaching you about the financial perspective of renting vs buying. Mortgage and rent is not apple to apple comparison. Generally, the irrecoverable cost of owning a property is comparable to rent, which consists of maintenance cost, property tax, mortgage interest and the opportunity cost comparing with invest somewhere else other than real property such as stock and bond. If you really want to look at it in a financial perspective, you should calculate those factors for your own situation. That's just my 2 cents.
Rent first... Get a short lease 9 months or so to get a feel of the area. There are decent apartments by galleria around 1k. I would recommend you go that route.
Those prices make me want to leave Bay Area in a millisecond
Too bad Dallas weather sucks and it’s super boring. Nothing interesting besides TexMex and real BBQ
Not trying to challenge you at all here, but just curious what all in your area is so much more interesting? Obviously many people feel the same, I'd just like to understand.
Where do u work? Condos are much harder to resell in DFW than 3 bed 2 bath townhomes or homes.
Amazon is next to Galleria mall
AWS located in Galleria Dallas. Rather than reselling I was looking at it as a rental investment in the future when I settle down. How is the rental market in Dallas (area near 645 and Dallas north tollway intersection - Addison, north Dallas)?