Minnesota vs. Wisconsin (St. Paul, Winona, Stillwater: insurance, buying a home, buying)

[ladyfish]

What are the advantages and disadvantages of buying a home on the Minnesota or the Wisconsin side of the border near the Twin Cities, as far as taxes and home prices?

[golfgal]

We looked into Hudson, WI vs a MN suburb and MN income taxes are higher then WI but WI property taxes are higher. Car/home insurance in WI is about half of what it is in MN but we would have spent more in gas for DH's commute then we would have saved on insurance so it pretty much came out as a wash for overall costs to live in MN or WI.

[Navelinski]

Originally Posted by ladyfish

What are the advantages and disadvantages of buying a home on the Minnesota or the Wisconsin side of the border near the Twin Cities, as far as taxes and home prices?

That really depends on exactly where you are looking to move. Stillwater is kind of spendy, but there are other areas that have better home prices.

The tax situation also depends exactly on where you are looking. I used to do taxes and several people who moved to Minnesota from Wisconsin told me that Wisconsin taxes were higher and the cost of living was a bit higher as well.

You should also consider the time and cost of transportation. If you job is in the Twin Cities, you may not want to spend the time waiting to get across the St. Croix river each and every morning.

Also gasoline is more expensive in Wisconsin.

[ihatefonddulac]

I grew up and lived most of my life in MN, and I lived for a year in WI. The property taxes are lower in MN, the cost of city water is lower (i.e., 3 months worth of city water in Winona, MN is about $50-$60; in Fond du Lac, WI, it's about $250 for 3 months worth, and the water there is much worse quality. We had to buy bottled water to drink). Gas is more expensive in WI. Groceries are about the same. My husband was making $60,000 a year in WI and with 4 kids, we were just getting by. He is now making $51,000 a year in MN, and we're doing fine, if that tells you anything.

[Lindenin]

The commute from Wisconsin can be tough (although it is not a cake walk in Minnesota either). Unless you are working in the far eastern suburbs, or St. Paul at the very furthest west, I don't think you'd want to subject yourself to the drive time involved with living in Wisconsin.

Minnesota does have higher income taxes, something to consider, I guess, especially if you are a very high income earner.

[Isaysos]

The traffic will be way worse commuting from Wisconsin in a decade or so because of all of the growth out that way.