What are the most upscale/desirable areas to live in Austin?

[FromCalitoSteinerRanch]

Originally Posted by ITChick

Wehotex, don't you think it's all relative? I mean, aren't the pay scales higher in LA higher too?

I can chime in on this. My IT job would fetch about $105K/year in L.A., and add the wife's teacher's salary to bring it up to about $150K/year. That would let us qualify for a townhouse, but probably at least a 2,000 sq. ft 3 bedroom 2 1/2 bath one so definitely livable.

The part I would really NOT like is our AGI would probably put us at about 7% state income tax, on top of Federal at about 22%, and if we had Mello-Roos assessments on the townhouse, then the total property tax would about about 2.05% on $600K valuation, so we would be paying about $12K per year in property tax! I think relatively speaking, we would feel poor, but it may still end up being the same amount of spending power between Austin and L.A. for our particular circumstances.

I do like living near the lake out here too much to even worry about running the most accurate scenarios.

[wehotex]

Originally Posted by ITChick

Thanks.

I hope I can find an older established neighborhood where I don't feel I have to "Keep up with the Joneses". That is what I am used to now and hope to find in Austin.

Wehotex, don't you think it's all relative? I mean, aren't the pay scales in LA higher too?

depending on what type of work you do, you would find that the salary ranges are higher, but not enough to compensate for the higher costs like gasoline, housing, renting, state income tax, food, other taxes (state & local).

[ITChick]

Originally Posted by FromCalitoSteinerRanch

I can chime in on this. My IT job would fetch about $105K/year in L.A., and add the wife's teacher's salary to bring it up to about $150K/year. That would let us qualify for a townhouse, but probably at least a 2,000 sq. ft 3 bedroom 2 1/2 bath one so definitely livable.

The part I would really NOT like is our AGI would probably put us at about 7% state income tax, on top of Federal at about 22%, and if we had Mello-Roos assessments on the townhouse, then the total property tax would about about 2.05% on $600K valuation, so we would be paying about $12K per year in property tax! I think relatively speaking, we would feel poor, but it may still end up being the same amount of spending power between Austin and L.A. for our particular circumstances.

I do like living near the lake out here too much to even worry about running the most accurate scenarios.

I have heard those Mello-Roos can be a killer taxwise. And the more you earn, the more you get taxed. Sometimes getting a raise never really seems to show up on a paycheck after taxes.

To me it doesn't make sense from a property tax perspective to buy a larger home here as one will be paying more yearly for it. Unless someone else can afford it with all the cash they bring with them.

[berkeleyres]

Here is something you should consider. A $1 million house in LA has annual property taxes of $12,500, whereas an 800K house in Austin will have annual taxes of $20-22K per year. You do, however save some money of state taxes...maybe 3-5K on 100K income per year in CA. I live in Sf BAy area and plan on relocating to either Austin or Seattle, most likely the latter. Since I have family there I visit quite a bit and I really like it. It's got many urban amenities without alot of the garbage that comes with big cities.

[FromCalitoSteinerRanch]

Originally Posted by berkeleyres

Here is something you should consider. A $1 million house in LA has annual property taxes of $12,500, whereas an 800K house in Austin will have annual taxes of $20-22K per year.

The $1 million dollar house in L.A. can range from $400-$800+/sq. ft., but out here the $800K house can range from $200-$300/sq. ft.

At the top of my estimates, it may mean that in L.A. you get 1,500 sq. ft., and here you get a little over 2,600 sq. ft, but again those are just different numbers. It all depends on the person and what their wants and needs are. $20K-$22K in taxes may be a wash when other things factor in.

I have worked in, and been in L.A. enough to know I prefer it here. I am not a small guy, 6'1" and 230#'s when I was in shape, but some of the areas I went to in L.A. showed if yo' ain't street, you are gonna get smoked real quick. I have never ever worried about that here. A CCW is much easier to get in TX, however I have never felt the need in Austin, whereas getting a CCW in L.A. is much harder.

[hts]

What in the world were you doing in those LA neighborhoods in the first place? We have parts of DC (we live in Northern VA) that are deep in the hood (SE, parts of NE, etc), but you'd never catch me anywhere *near* those quadrants. They just don't like white guys coming around very much, if you know what I mean.

Just out of curiosity, I'm assuming you're still around 6'1", but if you were 230 when you were in shape, what are you running now, 250-260?

Originally Posted by FromCalitoSteinerRanch

I have worked in, and been in L.A. enough to know I prefer it here. I am not a small guy, 6'1" and 230#'s when I was in shape, but some of the areas I went to in L.A. showed if yo' ain't street, you are gonna get smoked real quick. I have never ever worried about that here. A CCW is much easier to get in TX, however I have never felt the need in Austin, whereas getting a CCW in L.A. is much harder.

[FromCalitoSteinerRanch]

Originally Posted by hts

Just out of curiosity, I'm assuming you're still around 6'1", but if you were 230 when you were in shape, what are you running now, 250-260?

I wish, I am up to a 40" waist, and pushing 275. For some reason when I go in to Rudy's BBQ, they all smile and someone in back calls for some more brisket to be put in the smokers.

Luckily though, people think I weigh about 250, so let it be just our secret!

Oh, the parts of town I found myself in were the result of USC's Frat Row being next to some pretty tough areas. We had to walk to Tommy's Original Burgers, and a BBQ place I can't remember now usually around 2-3AM after a party.

Also I started a job later, in L.A. about a month after the Rodney King Riots, and I passed by many different businesses that were burned down on the way to work each day. That was pretty weird. As long as I stayed on S Vermont Ave, or Torrance Ave. I was OK. Then, I was a field tech, and had to park my car in alleys in Downtown L.A. to carry out printers and PCs that needed repair. Come to think of it, I must have developed not showing fear because I did survive.

[redpanda]

Coming from someone who lives in an area where $350k DOES only buy a "starter" home (and one in a somewhat icky neighborhood at that), don't be too hard on people who are looking in the higher ranges for homes.

Personally, we want to relocate to Austin so we can live comfortably below our means rather than struggling to scrape by. After all these years of working, working, working just to make ends meet (and afford that starter home in the not-great neighborhood!); I can certainly see the appeal of jumping up a "class level" when moving.

Think about it--if there was some mythical place where $150k bought you a giant dream home in an affluent area with great schools, but nice homes could still be had for $45k, wouldn't you go for that $150k dream home (assuming you could nicely afford it with cash left over each month!)? I'm betting you would. It's much the same for those of us who are looking to leave super-expensive areas behind...suddenly our potential buying power can get us much more than we ever could have had elsewhere.

Like I said, I personally am not planning to go that route. But I don't think it's necessary to vilify those who are.

[ITChick]

Originally Posted by redpanda

Coming from someone who lives in an area where $350k DOES only buy a "starter" home (and one in a somewhat icky neighborhood at that), don't be too hard on people who are looking in the higher ranges for homes.

Where I live, starter homes in iffy neighborhoods are also going for $350K too.

Personally, we want to relocate to Austin so we can live comfortably below our means rather than struggling to scrape by. After all these years of working, working, working just to make ends meet (and afford that starter home in the not-great neighborhood!); I can certainly see the appeal of jumping up a "class level" when moving.

I wouldn't argue with that. It's just when I see so many posts requesting information on top of the line areas, it makes me feel embarassed to even ask about something in a low price range. I guess that's just my problem and you are free to ignore it.

Think about it--if there was some mythical place where $150k bought you a giant dream home in an affluent area with great schools, but nice homes could still be had for $45k, wouldn't you go for that $150k dream home (assuming you could nicely afford it with cash left over each month!)? I'm betting you would. It's much the same for those of us who are looking to leave super-expensive areas behind...suddenly our potential buying power can get us much more than we ever could have had elsewhere.

If I felt that I was able to afford a much more affluent area and not feel I was overextending myself financially, I would do just that. No argument there.

Like I said, I personally am not planning to go that route. But I don't think it's necessary to vilify those who are.

I didn't think I was vilifying anyone for their choice in property purchase. I was just explaining my discomfort in reading several posts with similar requests for information. No offense meant at all.