Buying a Condo in Dallas, TX
For many home buyers, a big decision that they will need to make is whether to look for a single family home or a condominium. There are advantages and disadvantages to both. If your home search includes single family homes and condos in Dallas, Texas, you will have a wide selection of options to choose from. Before you begin your search, here are some common considerations that you may wish to think about when making your decision:
Maintenance – without a doubt, one of the biggest advantages to living in a condominium complex is the fact that much of the maintenance is covered by your Home Owners Association, or HOA, fees. Although coverage varies, most condo owners do not pay for the upkeep/maintenance of their yards, roof, exterior of the building, and in many cases major systems such as plumbing, electrical and HVAC.
Remodeling/Renovation – on the other hand, one of the biggest disadvantages to condo ownership is the fact that you may not be able to make changes to the building or yard. Most HOAs are very strict about landscaping as the goal is for all of the yards to blend together and provide a uniform appearance. You will also likely not be able to paint the outside of your home, put up a fence, or install a pool or if you are allowed to do so you will have to abide by the HOA regulations regarding things such as colors, height, style, and size. Although you will be able to paint, change the flooring, and even renovate the kitchen inside, major renovations that substantially change the appearance of the home will probably be vetoed by the condo Board.
Common Areas – though your individual yard may not be as large as you would like it to be, it is possible to find condominium complexes that have several large, open spaces and landscaped gardens to admire.
Privacy – you will have at least one neighbor living right next to you if you choose to pursue condos in Dallas. Therefore, if privacy is at the top of your list a condo may not be for you.
Amenities – unlike single family homes, condominiums typically come with a long list of amenities, such as pools, a business center, workout facility, clubhouse, and even car wash facilities.
HOAs – of course all of the amenities, maintenance and upkeep isn’t free. Condo owners are usually required to join an HOA when they purchase the condo. Monthly HOA fees are in addition to your monthly mortgage payment. Along with covering repairs and upkeep to both your unit and the common areas, your HOA fee may also cover things such as trash removal or even cable television.
If you plan to purchase your condominium in Dallas, you are in luck as there are several neighborhoods in Dallas that offer a superb selection of condos. Uptown, Downtown Dallas, and Victory Park, for instance, are known for having an excellent selection of condos for sale in Dallas. What you will pay for your Dallas condo will depend on where you decide to buy and how much room you need. A homeowner can find a Dallas condo in the $200,000 price range; however, luxury condominiums, such as those found in Victory Park, can easily run over $1 million.
To ensure that you successfully navigate the rapidly changing Dallas real estate market, be sure that you consult with a real estate professional for your house hunt.