Is Austin a good empty-nester pre-retirement option? (Dallas, San Antonio: sale, rent)

[CatWarmer]

Hi - We're planning to relocate from the Chicago area and are looking for options if our first choice of San Diego is not financially possible. [SIZE=2][SIZE=2]We are looking for a warmer weather climate somewhat near a coast with an active Jewish population, within easy reach of a major metro area, single family housing with a little lawn, good socialization options for empty nesters, maybe adult education possibilities, and day and vacation trip opportunities. [/SIZE][/SIZE][SIZE=2][SIZE=2]

We are looking for a single family home with a yard in the $450,000 to $700,000 range with at least 3 bedrooms and 2 baths, upgraded. Depending on the price we might be able to cover the cost from the sale of our current home (mortgage is paid off). I'd like to be able to walk to places like restaurants, parks, and the library, and not have to drive too far for groceries, hardware, etc. We'd like to be within about 15-20 minutes of synagogues. We don't want to be in a family suburb, don't need jobs (husband consults occasionally and we're otherwise essentially retired), don't need to rely on public transportation.

Is Austin a good choice for us, and what neighborhoods should we consider? We haven't been to Austin but have relatives in the area and in Dallas. We've vacationed in San Antonio, Dallas, and Galveston over the years but otherwise are not too conversant with Texas. Oh - we're both 62 if that helps.

Thanks!



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[G Grasshopper]

Since Texas uses property taxes, not state income taxes, for revenue, it is not the best place for retired people to live. If you live in Austin, you need to minimize the size of your property to avoid very steep taxes. The taxes vary by location, but in my location, a $300,000 house may cost $6,000 or so in annual taxes. Depending on what your retirement income will be, you might want to look for a state that has state income tax and lower property taxes.

[Idlewile]

Subjective of course, but based on 1) the other city you are considering 2) where you are coming from and that city's size and 3) this (copying from another thread inquiring about retirement in Austin):

Originally Posted by Austin97

the thing that is bad about texas for retirement is high property taxes. It is great while you are earning because you can control how much tax you pay. High income with an inexpensive house means you minimize your taxes.

When you retire your income will probably drop and the last thing you want is to basically be paying rent on your paid off house.

...I would easily choose other places over Austin, especially adding in the desire for an active Jewish population (depending on how you define "active".)

[winkosmosis]

$700,000 house = $21,000/yr property tax

That's not a typo... Your property tax would be slightly lower than my take-home pay.

[GreenPlastic]

Look at the central areas, including Far West Blvd. Active Jewish population there. Property taxes will be around 2.5%, not including your homestead exemption. RE taxes freeze at age 65, I believe.

[mesmer]

Originally Posted by GreenPlastic

Look at the central areas, including Far West Blvd. Active Jewish population there. Property taxes will be around 2.5%, not including your homestead exemption. RE taxes freeze at age 65, I believe.

IIRC, the school taxes freeze. The rest don't.

[scm53]

There are so many things in there, so let me answer them one by one:

We are looking for a warmer weather climate somewhat near a coast

Austin is at least three hours from any coast. Definitely warmer weather

Active Jewish population, within easy reach of a major metro area. Maybe adult education possibilities, and day and vacation trip opportunities.

The Jewish population of the Austin metro is about 16,000 in a metro of 1.8 million, or about 1 in 100. Certainly, there are areas in the metro with higher Jewish percentages than that. Still a rarity. Plenty of adult education, plenty of day trip opportunites.

Single family home with a yard in the $450,000 to $700,000 range with at least 3 bedrooms and 2 baths, upgraded. with a little lawn,

Emminently do-able. The hard part comes next:

Be able to walk to places like restaurants, parks, and the library, and not have to drive too far for groceries, hardware, etc. We'd like to be within about 15-20 minutes of synagogues. We don't want to be in a family suburb

Single family residences in close proximity to the things you want, are generally not available in your price range. If they are, they require updating. What you want is available nearby in downtown Georgetown -- but it is 25-30 min to the closest Reform synagogue in Cedar Park.

[Westerntraveler]

Austin is relatively far from the coast.

[CatWarmer]

Thanks everyone - I realize that Austin is quite a distance from the Gulf but you could do a day trip. I sort of rewrote my old criteria which included "by the coast". Those property taxes are a definite consideration; interesting what you learn. I've already discovered that both state income and property taxes would be lower in San Diego than our Chicago suburb. I keep reading about what a great city Austin is; doesn't sound like we could get everything we want under $700K?

[CptnRn]

Originally Posted by Westerntraveler

Austin is relatively far from the coast.

We kept our sailboat in a marina at Rockport for 3 years, its the prettiest part of the Texas coast, along the NW shore of Aransas Bay, close to Corpus Chrisiti, Port Aransas and the Aransas Wildlife Refuge.

It typically took us 3.5 hours to drive down, spend Friday and Saturday on the boat and drive back to Austin another 3.5 hours, via Gonzalez and Victoria on the way to the coast. It is a nice route that passes through some nice small towns and beautiful wildflower country in the spring.

Nice trip, but it did get old after 3 years of doing it fairly often. But we still make that trip in April each year and still enjoy the visit even though we don't have a boat there anymore.