Let’s do some comparison shopping, shall we?
Let’s say you’re looking for a four-bedroom, three-bath home in Northeast Dallas, something in the greater Lake Highlands area. In the $275,000 range you’ve got some options, but the most similar ones would be 10211 Longmeadow in the L-Streets area and 11710 Farrar in Lochwood.
The home on Longmeadow is 2,252 square feet and has two living and two dining areas, as well as landscaped backyard and some key updates. It’s marketed by Nathan Grace Realtor Amy Timmerman of pickaperch.com for $273,500.
The Farrar house has 2,243 square feet, an updated kitchen and master, fresh paint, hardwoods, and some original vintage features. It has an upstairs addition that includes what could be an office, playroom, fourth bedroom, or media room. It’s marketed by Coldwell Banker Residential agent Nathan Kaul for $274,900.
Both homes look great from the curb, but there’s one key difference between them that you absolutely have to consider when buying in Northeast Dallas: The home in Lochwood is inside the Dallas ISD boundaries, while the L-Streets home is inside Richardson ISD.
Now, considering how similar these two homes are, you’d think the one with Lake Highlands schools at 10211 Longmeadow would have a higher value. This home has some beautiful updates in the bathrooms, with fresh tile and hardware. The backyard is a great size and has a storage shed — perfect for families who want to keep some toys out of sight and for storing lawn equipment.
However, consider that the kitchen feels somewhat isolated, there is carpet in the living and dining rooms, rather dated light fixtures throughout, and the existing furniture doesn’t really do anything to stage the property, I can see how, when compared against 11710 Farrar, they would be priced more closely.
Why? Because the Farrar home has updates that buyers are clamoring for, including refinished hardwood floors, neutral cool gray paint, and updated kitchen that is more open, thanks to the lack of upper cabinets near the breakfast area. The living areas feel more open and airy because the seller has opened the draperies, which are light colored. The rugs and furniture compliment the decor and have some vintage pizzaz. While the hall bath isn’t updated, the existing pink tile (a 1950s favorite for retro decor enthusiasts) complements the original wallpaper. It’s super cute and I’m sure a buyer will appreciate that it was preserved. I am rather disappointed, though, that the listing agent didn’t include pictures of the backyard.
Now, tell us, which home would you choose? The L-Streets home on Longmeadow that feels somewhat dated but is inside Richardson ISD boundaries? Or the Lochwood home on Farrar, which has some great updates and some vintage charm, but is inside Dallas ISD boundaries?