To build or not to build...... (Austin, Canyon: HOA, how much, homes)

[billmarland]

Originally Posted by texasgirl1

Keep interviewing builders....those prices are absurd unless you are using the best of the best of everything!

We just built a custom 2 story home that was just under 4000 sq ft for @ $128 per sq ft. That does not include the lot price or landscaping costs.

Thank you for that nice bit of news. I don't want the best of the best...but I do want premium materials since I plan on being around the house a lot and enjoying it.

[scm53]

Originally Posted by billmarland

By the way---Italy is my favorite country, followed by Spain. Wait until you get hit by the Euro-----you will need much more than the cost of utilities for an entire year in Austin for those summers in Eruope. Have fun---make sure you see Portofino!

I retired after 27 years in Germany, and stayed as a civilian contractor while the Euro was introduced. Went from .85¢ for one, to $1.30 - and I had no COLA, rent in €, and paid in $. Yeooooow.

We will be insulated from utility costs, as we will do monthly HomeAway rentals. But having lived there, and living in Austin, there is no way, if I were to pay utilities there, that the cost would equal electricity and water here. Even with PEC, you will be astonished what it costs to cool the 4000 sq. ft house you are building in August.

One thing that makes it all work is that Tricare works outside the US. We will be there more than 90 days at a stretch, so we need resident visas. Can't get them in the EU unless you have health insurance valid there.

We will probably spend most of our time in Germany and France, maybe N Italy. Maybe Ryanair trips for a week to some cool places. We just want to live like Europeans. It is pretty cheap if you don't live like a tourist.

[billmarland]

Originally Posted by scm53

I retired after 27 years in Germany, and stayed as a civilian contractor while the Euro was introduced. Went from .85¢ for one, to $1.30 - and I had no COLA, rent in €, and paid in $. Yeooooow.

We will be insulated from utility costs, as we will do monthly HomeAway rentals. But having lived there, and living in Austin, there is no way, if I were to pay utilities there, that the cost would equal electricity and water here. Even with PEC, you will be astonished what it costs to cool the 4000 sq. ft house you are building in August.

One thing that makes it all work is that Tricare works outside the US. We will be there more than 90 days at a stretch, so we need resident visas. Can't get them in the EU unless you have health insurance valid there.

We will probably spend most of our time in Germany and France, maybe N Italy. Maybe Ryanair trips for a week to some cool places. We just want to live like Europeans. It is pretty cheap if you don't live like a tourist.

Thank you for your dedicated service. Never spent a lot of time in Deutschland---that was Army and Air Force territory and not many ports for the "squids". I am paying $500-600/mo for my electric bill here in VA in the summer and flip that amount to natural gas in the winter. Are you telling me Austin is worse? I might have to get a job at Home Depot just to cover the utilities.

Lake Lugano and Lake Como are a must-see if you go through in Switzerland, Northern Italy,and the Dolomites. Sounds like you've lived like a European long enough!

[scm53]

Originally Posted by billmarland

Thank you for your dedicated service. Never spent a lot of time in Deutschland---that was Army and Air Force territory and not many ports for the "squids". I am paying $500-600/mo for my electric bill here in VA in the summer and flip that amount to natural gas in the winter. Are you telling me Austin is worse? I might have to get a job at Home Depot just to cover the utilities.

Lake Lugano and Lake Como are a must-see if you go through in Switzerland, Northern Italy,and the Dolomites. Sounds like you've lived like a European long enough!

USN as well. Had to go to a joint job at EUCOM to get to Germany. Add yes - you will have $400-500/ mo. electricity bills in the summer here w/ a 4K sq. ft. house and home every day. You need to look into the community propane set up at Rough Hollow. It is higher than gas bills, and you don't have a choice. Water is pretty bad in Austin, but don't know about Rough Hollow.

I had leave planned the day after 9/11. Took off and drive down to Lake Como, staying in Bellagio. Came back to find we were now at war, and life wasn't the same until I retitled.

[iamwayne]

Have you thought about getting some acreage and building a log house? There are plans for over 3,600sqft. It should come out to less than $200sqft easy, last I checked it was around $150sqft with a metal roof and the building goes up quicker too. USAA also has the cheapest rate," for insurance, State Farm and others couldn't even come close. Save on building cost and retire sooner.

[hoffdano]

I suggest the OP reconsider Rough Hollow for the following reasons:

- oppressive, expensive HOA
- community propane, including restrictions on your home appliances (no electric heating equipment allowed)
- high property taxes (almost 3.1%)
- McMansion like style

Nearby you could buy a lot and build for less with more personal freedom. Areas to consider include Travis Settlement and The Homestead.

[G Grasshopper]

Hoffdano's suggestion is a really good one.

[billmarland]

Originally Posted by hoffdano

I suggest the OP reconsider Rough Hollow for the following reasons:

- oppressive, expensive HOA
- community propane, including restrictions on your home appliances (no electric heating equipment allowed)
- high property taxes (almost 3.1%)
- McMansion like style

Nearby you could buy a lot and build for less with more personal freedom. Areas to consider include Travis Settlement and The Homestead.

Thank you for your suggestions. I will do my homework. Rough Hollow had a community marina that appealed to me, but I didn't feel that the HOAs were excessive. The ones quoted me were $17/mo---I'll double-check that also. Wow...3.1% property taxes---is that ALL of Lakeway?

[Austin97]

Originally Posted by billmarland

I am considering moving to Austin to retire in approximately 5 years. I have made several trips to the area over the past 3-4 years and the changes have been phenomenal. I am probably part of the problem Austinites have had to endure the last decade, so I will apologize to you for having an attractive and vibrant city and warm and friendly citizens. I am looking at a lot in Rough Hollow (Lakeway), but I need to know if I can afford high-quality new construction on a home between 3600-4200 sqft. I set my budget to build at $700K (lot excluded). I have been told by some spec builders the current price per square foot is at $200 or above, which I cannot see or afford). I know many knowledgeable people, including those in the real estate world read these forums, so my question is "Is buying a lot and building a new home in Austin a good idea?" Unfortunately, for what I want in a retirement home---home theater, sports bar and a small workout room---the 3600 sqft is truly a minimum. Thank you.

they are smoking crack.. You should be able to get a really nice house for 150/sq ft.

$100 for a lower end tract home

[billmarland]

Originally Posted by Austin97

they are smoking crack.. You should be able to get a really nice house for 150/sq ft.

$100 for a lower end tract home

Thank you Austin97. The area where I was looking to buy a lot is not open to outside builders, thus the two construction companies that are allowed to build in the community have the market "cornered." I guess I have one of two options: 1) request from the developer permission to bring in my own builder or 2) walk. I am encouraged by your succinct, but relieving answer. I won't write Austin off just yet.