According to many economists and real estate professionals around the country, 2015 looks to be the year of the first-time home buyer. Although long over-due in the eyes of many, looser lending guidelines have finally been enacted, while lower insurance premiums and a strong pent-up demand among the Millennial generation are also expected to be key contributors to what looks to be a very busy year in the local DFW real estate market.
If you happen to live around the Dallas-Fort Worth area and are also looking to make that initial leap from renting to buying, you’re definitely in the right market. According to a recent study by Wallet Hub, the DFW suburbs are among the best cities in the U.S. for first-time home buyers when considering affordability, community environment, and various other real estate-related categories like property taxes, median home price appreciation, median home prices, and price-to-rent ratios. Crime rate, recreation, and employment opportunities also played a role in the study, and in all, six of the top 10 cities for first-time buyers are located in the DFW region: Allen (#2), Denton (#4), Frisco (#5), Plano (#6), McKinney (#7), and Richardson (#10).
For a closer look at Wallet Hub’s study, check it out here, or learn a little bit about DFW’s best locations for first-time home buyers below!
Situated almost 50 minutes from Dallas, the Allen lifestyle is very similar to that of McKinney in that it allows for a pretty nice buffer between the big city and where you call home. The community amenities here are also worth mentioning and include a couple different golf courses, plenty of public park spaces, and even a nature preserve that’s just south of town. [View Allen homes for sale...]
A charming community that’s surprisingly diverse in terms of shopping, dining, and entertainment, Denton is the perfect place to call home for a number of different home buyers, but especially those who are looking for a long-term place to call home. The downtown square provides a classic small-town ambiance, while the numerous festivals and events that are hosted all year long help give residents that true sense of community. [View Denton homes for sale...]
Wallet Hub certainly isn’t the first media outlet to honor Frisco in recent months. Other recognitions include a mention on CNN’s “Best Places to Live” list, Forbes’ “America’s 25 Best Places to Move” list, as well as taking home the top spot on NedWallet’s “Best Place in Texas for Young Families” list. With all these impressive accolades, there’s really not much more we can say…[View Frisco homes for sale...]
As one of DFW’s larger suburbs, Plano is a great place to start your home search mainly because of its larger inventory and wealth of great housing options to buyers with almost any budget. Along with that, the job market is extremely healthy around the Plano area, making it the perfect place for those who want to both live and work in the same DFW community. [View Plano homes for sale...]
Situated just north of Allen and nearly 35 miles from downtown Dallas, McKinney is the perfect location for home buyers wanting plenty of separation from the hustle and bustle of downtown Dallas. In addition, real estate prices here are extremely competitive and are among the most affordable in the entire DFW region, depending of course on what you’re looking for. [View McKinney homes for sale...]
Like Frisco, Richardson has also received numerous accolades that relate to being among the best places to live in both Texas, as well as all of America. Perhaps most known most for its safety, top-notch school systems, and thriving economy, there’s not much to dislike about Richardson, especially when you consider its location that’s not terribly far from downtown Dallas. [View Richardson homes for sale...]