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Old 10-07-2021, 09:21 PM
 
1 posts, read 1,921 times
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Hi There!
I know house prices in the Austin area are going up like crazy. Right now I live in an apartment in Pflugerville. Would it be possible to purchase a home in the area with a monthly payment around 2k to 2500? I have looked on zillow and I have a feeling property taxes are not correct. I'd only be putting down about 3.5%. I looked at Manor and it seems like an okay area but I have been told taxes are high... Thoughts??
Thanks!
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Old 10-07-2021, 09:24 PM
 
11,779 posts, read 7,992,594 times
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At 3.5% down in this market with taxes and insurance considered, I would say it would be pretty difficult to hit $2,500 or less just about anywhere in Austin metro.

Here's a home going for ~ the avg price in Pflugerville and that is aprox your price range with a 20% down payment with taxes and insurance considered.

https://www.redfin.com/TX/Pflugervil.../home/88618548

I'm unsure about taxes in Manor but most people I know avoid it because of the schools rather than property tax.

Last edited by Need4Camaro; 10-07-2021 at 09:37 PM..
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Old 10-08-2021, 01:35 AM
 
572 posts, read 325,001 times
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3.5 down payment is quite low and it is hard to get instalment plan less than 2500.
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Old 10-08-2021, 03:11 PM
 
Location: Round Rock, Texas
12,946 posts, read 13,330,473 times
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Look at Taylor.

Here are some listings: (I am in no way affiliated with, or know anyone in that agency).

https://texas.primeranchland.com/idx...rt=pra&start=1

Last edited by ScoPro; 10-08-2021 at 03:20 PM..
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Old 10-13-2021, 10:04 AM
 
7,736 posts, read 4,985,166 times
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Quote:
Originally Posted by Need4Camaro View Post
At 3.5% down in this market with taxes and insurance considered, I would say it would be pretty difficult to hit $2,500 or less just about anywhere in Austin metro.

Here's a home going for ~ the avg price in Pflugerville and that is aprox your price range with a 20% down payment with taxes and insurance considered.

https://www.redfin.com/TX/Pflugervil.../home/88618548

I'm unsure about taxes in Manor but most people I know avoid it because of the schools rather than property tax.
I just bailed out of Cedar Park and went to Kempner.. Bought 2 acres 500k 3110 sq ft brand new... only put 5% down while my house here sold (just so I made sure I found a property first) and mortgage is 2900 with taxes.


The property taxes next year will explode and a lot of people are going to drop over when their mortgage payments jump 500+
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Old 10-13-2021, 11:56 AM
 
Location: Austin, TX
15,268 posts, read 35,622,212 times
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Quote:
Originally Posted by Jimmyp25 View Post
I just bailed out of Cedar Park and went to Kempner.. Bought 2 acres 500k 3110 sq ft brand new... only put 5% down while my house here sold (just so I made sure I found a property first) and mortgage is 2900 with taxes.


The property taxes next year will explode and a lot of people are going to drop over when their mortgage payments jump 500+
If you are a homeowner/homestead exemption, that would have to be a pricey house to jump that much in a single year - around $3,000,000 or so.
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Old 10-13-2021, 06:05 PM
 
7,742 posts, read 15,121,973 times
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Quote:
Originally Posted by Joey1133 View Post
Hi There!
I know house prices in the Austin area are going up like crazy. Right now I live in an apartment in Pflugerville. Would it be possible to purchase a home in the area with a monthly payment around 2k to 2500? I have looked on zillow and I have a feeling property taxes are not correct. I'd only be putting down about 3.5%. I looked at Manor and it seems like an okay area but I have been told taxes are high... Thoughts??
Thanks!
you could get a condo. If you can get an interest rate of around 2%, a 500K amount would do it.

There are houses for under 350k east of 183 or in montopolis.

What I did in your situation was buy a house i could barely afford, then get 3 roommates that 100% paid my mortgage.
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Old 10-19-2021, 07:31 AM
 
Location: SW Austin & Wimberley
6,333 posts, read 18,050,807 times
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Use an online calculator that computes everything. Use a tax rate of about 2.5%, and insurance cost of about 0.5% of home value.

https://www.bankrate.com/calculators...alculator.aspx


A home at $350K, 30 yr loan, 3.5% down, 3.5% interest, would have a PITI of $2,446/mo. PITI means Principle, Interest, Taxes, Insurance.



The Total Cost of Ownership also includes HOA fees, repairs/maintenance, commuting costs if you drive to/from work, utilities, etc. Cheaper is not always cheaper, especially if commuting costs are high.



Austin will never be affordable, ever again. Two words - San Antonio.
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Old 10-19-2021, 08:44 AM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,544,472 times
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Quote:
Originally Posted by austin-steve View Post
Use an online calculator that computes everything. Use a tax rate of about 2.5%, and insurance cost of about 0.5% of home value.

https://www.bankrate.com/calculators...alculator.aspx


A home at $350K, 30 yr loan, 3.5% down, 3.5% interest, would have a PITI of $2,446/mo. PITI means Principle, Interest, Taxes, Insurance.



The Total Cost of Ownership also includes HOA fees, repairs/maintenance, commuting costs if you drive to/from work, utilities, etc. Cheaper is not always cheaper, especially if commuting costs are high.



Austin will never be affordable, ever again. Two words - San Antonio.

For now, two other words..... Lam pasas
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Old 10-19-2021, 10:56 AM
 
Location: SW Austin & Wimberley
6,333 posts, read 18,050,807 times
Reputation: 5532
Quote:
Originally Posted by 10scoachrick View Post
For now, two other words..... Lam pasas

Lampassas is pretty cool. I've driven over 19K miles across country the past 15 months in my campervan and Jeep camper before that. There are a multitude of somewhat interesting small towns across the US that would be cheap to own/live in. As I travel through these places I wonder, assuming they have good enough reliable internet (all will eventually with Starlink), if they might someday get repopulated with remote workers.


I'm out in Wimberley now. It ain't Austin, much fewer places to choose from if "going out" to eat, grab coffee, etc, but there is enough for me.



So, for people posting that they can't afford Austin, I'd say switch to a remote job where you can live anywhere, then go live where it's cheap and "good enough", within an hour or two of a major metro and airport, and live cheap and safe.
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