Looking at possibly making a move. (Huntsville, Madison: sales, rent, insurance)

[darthredskin]

My family of 5 are looking to make that next step and purchase a home. We currently reside in Lubbock, Texas and rent a house at the moment. While I like a lot of aspects about Lubbock, I hate that the property taxes here are outrageously high. It makes buying a home that you plan to stay in for the foreseeable future very unpractical and unaffordable with a modest income. The difference in home we can buy at $45k (yearly income between the two of us) between the two cities is staggering. Being a transplant from Maryland, not being used to as much isolation that Lubbock has, it's just not something I'm a fan of. Plus, I'm pretty big into rec sports and after I got out of college, there's not very much here minus the three basketball leagues and indoor soccer in terms of organized adult sports. And lastly, the wind, dust and sporadic weather has grown tiresome, like having 4 seasons.

I have family in Madison and in Harvest, we've both visited the area and love what it seemingly has to offer. We are currently looking at new builds, but don't really know the area as in terms of good schools to affordable homes. Trying to find a balance between the two is the main goal.

Does anyone have any advice or comments?

Thank you!

[RocketDawg]

School quality is an oft-discussed topic here, and the consensus seems to be that Madison City schools are all really good, most of Madison County schools are good, and some of Huntsville's schools are good. Harvest would go to Madison County. Huntsville is much like any other city ... as the city grows, problems of all sorts occur, and schools in certain areas suffer. There are several really good private college prep schools here as well.

You would probably be happiest most anywhere in Madison, Monrovia (an unincorporated but densely populated area), many neighborhoods in Huntsville (the northwest side is the worst), and if you like a little more room, in some of the more rural or less densley populated areas like Harvest.

Property taxes are not excessive, but there's a 9% sales tax on virtually everything in Huntsville and Madison, a bit lower in other parts of the area.

New residents seem to like it here really well.

[harry chickpea]

If you have never owned a home before, a word from someone who has owned a few. Take the mortgage payment that the online calculators provide and double it, then add $100. That is the real minimum of ownership cost on an ongoing basis. Insurance goes up, taxes go up, repairs and maintenance are ongoing and can slap you silly when you least expect it. You can easily get approved for more than is a comfortable fit, especially with a family of five to care for and the possibility of gasoline prices going up again.

Consider renting a home in Harvest for a year while you scope out the area.

[LCTMadison]

With a household income of $45k, you are probably not going to find new construction that you can afford in Madison city unless you want to be extremely house poor which I would advise against. The housing market in Madison under $300k is like Hunger Games right now...extremely competitive, houses getting multiple offers, exceeding list price. Its a sellers market no doubt. Under $200k is downright awful.

Best bet to stay near your family is to look around Monrovia/Harvest and maybe even out in Limestone County just west of Madison (for schools that is Creekside Elementary/East Limestone High).

Davidson is building some pretty affordable homes that start around $125k. in both those areas. They are pretty basic, but you can add upgrades as your budget allows, and Davidson is a very good builder.