Explore answers to the most common questions about purchasing a condo in Plano, Texas. Whether you're a first-time buyer or an experienced investor, this guide will help you understand the market, costs, and benefits of condo living in this thriving Dallas suburb.
The average price of condos in Plano typically ranges from $200,000 to $400,000, depending on location, size, and amenities. Luxury condos in prime areas like Legacy West or near corporate headquarters can exceed $500,000, while more affordable options are available in established neighborhoods.
HOA fees for condos in Plano generally range from $200 to $600 per month. These fees typically cover exterior maintenance, landscaping, common area upkeep, insurance for the building structure, trash removal, and amenities like pools, fitness centers, and security services.
Yes, Plano condos can be excellent investments due to the city's strong job market, top-rated schools, and proximity to major employers like Toyota, Liberty Mutual, and JPMorgan Chase. The area's consistent population growth and rental demand make condos attractive for both personal use and rental income opportunities.
Popular neighborhoods for condo buyers include Legacy West for upscale urban living, West Plano for family-friendly communities, East Plano for affordability and convenience, and the Shops at Legacy area for walkable lifestyle options near dining and entertainment.
Yes, condo owners in Plano pay property taxes based on the assessed value of their unit. The average property tax rate in Collin County is approximately 2.14%. However, HOA fees may cover some insurance and maintenance costs that would otherwise be separate expenses for single-family homeowners.
Most Plano condos allow rentals, but it's essential to review the HOA bylaws before purchasing. Some associations have rental restrictions, minimum lease terms, or caps on the percentage of units that can be rented. Always verify the rental policy during your due diligence process.
Common amenities in Plano condo communities include resort-style pools, fitness centers, clubhouses, business centers, secure parking or garages, gated entry, dog parks, and outdoor grilling areas. Luxury developments may also offer concierge services, rooftop terraces, and entertainment lounges.
Condos typically offer lower maintenance responsibilities since HOAs handle exterior upkeep and landscaping. They're generally more affordable than single-family homes and offer amenity-rich lifestyles. However, condos usually have less privacy and more HOA regulations compared to townhomes or detached homes.
Key factors include reviewing HOA financial health and reserve funds, understanding monthly fees and special assessment history, checking rental restrictions if applicable, evaluating the location's proximity to work and amenities, inspecting the unit's condition, and researching the neighborhood's resale value trends.
Yes, Plano continues to see new condo developments, particularly in urban mixed-use areas like Legacy West and along the Dallas North Tollway corridor. New construction condos offer modern designs, energy-efficient features, and contemporary amenities, though they typically come at premium prices compared to resale units.
Property Address
Address
2701 West Plano Pkwy Suite 650 Plano TX 75075
2701 West Plano Pkwy Suite 650 Plano TX 75075
