Plano, Texas area - could we afford to live on this salary? (West: apartments, renter)

[clarity1971]

Hello everyone, this is my first post so I hope I have posted in the right place.

Myself and my husband are thinking of relocating from the UK (Visa's permitting) to Plano, TX with our 4 children. We have twins aged 16, plus a 12 and 10 year old.

We are currently doing as much research into jobs as we possibly can and it looks as if my husband will be able to get a salary of approx $150,000 (possibly a bit more).

We would be looking to rent initially and have seen houses approx 4000 sq foot for around $3000

We then have to factor in Taxes (would we pay property tax if renting?), Healthcare, cars, utility, insurance and College Fees (which would be double for our twin daughters).

The visa would also allow me to work too (possibly part time admin work) but right now we just want to get a feel of things to see if my husbands salary alone would be doable.

In the UK, taxes are very high (my husband pays a third of his income back in tax) and cost of living is very very expensive but we are unfamiliar with the USA tax system and general cost of living so all feedback would be appreciated.

Thank you

[CptnRn]

You should be able to live really well in Plano, and most anywhere in Texas, on $150,000. The median family income there is $77,140. Median House Value is around $220,000. Median Gross Rent is around $977.

There are also areas within commuting distance to Plano which have lower housing and rent costs.

Renters do not pay property taxes, it is built into the rental cost.

There is no State Income Tax in Texas but I'm sure your husband would have to pay Federal Income Tax.

Jan. 2011 cost of living index in Plano is 94.2 (less than average, U.S. average is 100)Read more about the demographics: http://www.city-data.com/city/Plano-Texas.html#ixzz1kssvMHFw

More about housing and rent costs here. http://www.city-data.com/housing/hou...ano-Texas.html

Try looking at Apartments for Rent - PadMapper Apartment Search for Oodle, Apartments.com, Rent.com, Kijiji, and Craigslist Apartments to see what is available in the Plano, TX area for the size of house you want to rent.

Most places in Texas cannot rely on mass transit for transportation, so you will probably need at least two cars, more if you have teenagers of driving age.

[loves2read]

it is much easier to qualify for a driver's license and own/operate a car in the US
gasoline is relatively cheap compared to what it costs in UK/Europe

I don't know what the tax situation is for someone coming from UK--do you have to pay tax back to your govt?

workers here have deductions from their earnings for Social Security, income tax, health coverage as the top three items

since you are here on work visa do you pay into SS since you supposedly won't be here to retire and collect?

[clarity1971]

Thankyou CaptnRN That is good to know, we were originally looking at a similar salary for a job in California and spoke to a few people there who thought we would practically be paupers on that amount. It is so confusing when it is not your native country! Is Texas really that much cheaper compared to California?

loves2read - thankyou If we come, we will have Green Cards so yes I would imagine we would pay into SS.

We have budgeted $12,000 per year for instate community college fees. Does this sound about right? Although if we move to Plano and our daughters do 2 years at Community College in Plano then It would be less I imagine. Then 2 years at Uni to fund too.

Golly gosh - it all adds up!

[ChristieP]

Yes, people on visas pay into SS tax. The only exception to this is a graduating student on a C31 OPT visa. As soon as they convert to an H1B, they pay taxes.

The healthcare insurance will be done through your employer, and the costs will vary depending n the plans the employer has suggested, and how much they contribute towards the cost. Average cost for a family is $1200 a month, and the employer usually pays about half.

The big ouch is going to be the college costs for your daughters. Since they are not permanent residents, you will pay the international student rate (even higher than the out of state resident rate) and they will have to get F student visas and renter the country in that status. It's not going to be cheap...

[clarity1971]

Hi Christie - if we come, we will have permanent resident status although for college fee calculations I think you have to have been living in the state for 12 months minimum. This is the case in California (where we were originally doing our investigations), not sure of 12 month rule applies in Texas.

[ChristieP]

Did you win the diversity visa lottery? If not, that is the only way to get immediate permanent resident status. If you a coming on an employer-sponsored visa, you have to wait for a few years while your 485 is approved.

To get the Texas resident status, you do have to have lived here for 12 months, and you have to be a permanent resident. Otherwise, even if your application is pending, you will still pay the international student rates.

Yes, I used to do immigration (international students specifically) for a living, although it has been a few years!

[FalconheadWest]

Originally Posted by clarity1971

Is Texas really that much cheaper compared to California?

Yes, TExas is MUCH cheaper than CA. It's not even apples to oranges but more like apples to grapes... VERY different pricing on everything. $150k a year on a single income would be a lot in the DFW area.

[Big G]

Not sure why you wouldn't just send the older kids back to the UK for university. Most UK universities have set admissions standards for US-educated kids based on assorted US exams (SAT, ACT, AP, IB), so they wouldn't have to do A-levels, O-levels, etc. to get in.

IMO, that would end up being cheaper (unless they came back to the US multiple times over the school year). Even the TX resident rate is far higher than UK tuition levels.

[clarity1971]

ChristieP we are looking at the EB1 Visa. It is potentially a lengthy and costly process but quite a few of my husbands collegeues have been through it recently. That would mean that all 6 of us would have PRS.

We might consider the L1/L2 route if the right transfer came up but our concern here is that our daughters would 'age out' within 5 - 6 years.

If we come to the States, it would be with a view to making it a long term move. At the very least, we would want to stay long enough to see our youngest through college as we want to avoid moving countries at crucial points during their education. But 'best laid plans' etc etc

BigG - yes, that is also an option although we would still have to pay Tuition and Living/Accomodation Fees upfront (would probably work out at approx $30,000 dollars equivalent per year/per child).

FalconheadWest - I see you are a realtor What are our chances of being able to rent a property that would also accept a large dog? Are such properties available?