Gas Prices Fuel Urban Living

As the economy seemingly continues to take a nose dive, prospective condo buyers are looking more than ever to save money. According to the Dallas Morning News, the Dallas area still has a big edge in providing affordable housing for relocating corporate employees. That is an example of just one of the ways people are saving when buying a Dallas condo.

More Good News for Dallas condo buyers…The nationwide average of a single family home in Dallas has an average price of $326,425, which is substantially lower than the nationwide average of $403,738 according to a survey conducted by Coldwell Banker. According to this survery, all of the houses surveyed that were used in the comparison were in neighborhoods with a high population of corporate transferees.

Another option for homebuyers is to look for housing options closer to their jobs. This cuts down on not only commuting time but also money spent on the high prices of gas! Many Dallas residents are making a housing move to cut down on fuel costs.

In choosing a Dallas condo that is in close proximity to work, DART stations, and even grocery stores, the choice to live downtown becomes more and more an obvious choice. Developers have come to this realization as well, which is why more and more new developments continue to boom in central urban areas of Dallas.

According to the Dallas Morning News, homebuyers may opt to trade the higher purchase price of a close-in home for the lower monthly gasoline expense and still save on time spent in the car each day.

“It’s the wave of the future if you believe what we are seeing in energy prices is not a spike, but a long-term trend, according to a former executive at the newspaper. “We will start looking at housing differently.”

With the rising gas prices, one must have to consider the convenience AND savings that urban living has to offer now more than ever. There appears to be a growing trend in urban condominium living , attracting not only suburban professionals, but small families and baby boomers as well. The financial burden high gas prices have created play a major role in the decision to purchase an urban condominium.

Here at CondoDomain Dallas, we are well aware of the rising price of gas and continuously seek to keep up with the trends to help you find you your next Dallas condo. Not only are we a buyers brokerage, working solely with buyers, but we offer a flat-fee commission to our buyers that helps to save thousands at closing! Regardless of the purchase price of your new Dallas condo, it is the same flat-fee, refunding you the remainder!

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Source: The Dallas Morning News, Coldwell Banker

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