Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My wife and I will be in our late 50s in a few years and are trying to explore moving to areas in or around Austin, where we will buy a home pre-retirement. I am aware that Austin is getting crowded with more and more people moving there everyday but we like the warm weather and the "vibes". We realize there is no “perfect” place and we may have to live with some trade-offs. Any suggestions you have for communities/areas are very welcome. Thanks! (We have considered houses in Roundrock and Cedar Park but our exploration has been preliminary and we are not really familiar with the areas.)
Some background information:
Wife wants to be sure it is a safe multigenerational area (not retirees only) with affordable housing where we can find at least a somewhat newer 3 or 4 BR 2000+ sq ft home for under $300K. (Is this even feasible?). She does not want a smaller house though I would not mind downsizing☺. Our ideal house will be ranch style, have a tiny lawn and require minimum maintenance (such as a garden home) and preferably wheel-chair access (who knows what the future has in store for us!). We are looking to take a mortgage (while we are still working) and rent out the house until we move. Proximity from Austin downtown and traffic may not be issues as we will not be driving during peak hours.
We will be living on pension income and some savings. We can budget for up to $8K for property taxes per year but the lower the better. Will $4k per month income (not including mortgage) suffice to cover living expenses, utilities, healthcare, eating out occasionally, and day-to-day stuff?
As we will travel out of town, to reduce property crime, a gated community may be safer. Diverse multigenerational community with a clubhouse offering various activities and tennis or proximity to decent tennis courts, will be good.
Proximity to nature - hills, lakes, parks will be good.
We will have to rely on Obamacare (if it survives) for many years until Medicare kicks in.
Being first-generation immigrants from India, it would be good for my wife to find Asian Indian communities/families/restaurants/stores/cultural associations nearby. Also I am politically independent and my wife leans liberal.
Gated communities aren't super common and those that do exist are above your price point. Central Texas as a whole is a very safe area.
A "somewhat newer 3 or 4 BR 2000+ sq ft home for under $300K"? Not absolutely impossible to find but not super abundant either, you will be in a suburb/outlaying area. In addition to Cedar Park/Leander, look at Georgetown too. Georgetown has trails, parks, water etc.
If you wanted something smaller, then maybe World of Tennis in Lakeway would work?
Central Texas isn't ideal for retirees because of the high property taxes, and while you rent out the house, you can't claim homestead exemption so expect your taxes to rise each year significantly and then when you can claim homestead, you will have a high base (homestead exemption will only limit the annual increase to 10%).
My wife and I will be in our late 50s in a few years and are trying to explore moving to areas in or around Austin, where we will buy a home pre-retirement. I am aware that Austin is getting crowded with more and more people moving there everyday but we like the warm weather and the "vibes". We realize there is no “perfect” place and we may have to live with some trade-offs. Any suggestions you have for communities/areas are very welcome. Thanks! (We have considered houses in Roundrock and Cedar Park but our exploration has been preliminary and we are not really familiar with the areas.)
Some background information:
Wife wants to be sure it is a safe multigenerational area (not retirees only) with affordable housing where we can find at least a somewhat newer 3 or 4 BR 2000+ sq ft home for under $300K. (Is this even feasible?). She does not want a smaller house though I would not mind downsizing☺. Our ideal house will be ranch style, have a tiny lawn and require minimum maintenance (such as a garden home) and preferably wheel-chair access (who knows what the future has in store for us!). We are looking to take a mortgage (while we are still working) and rent out the house until we move. Proximity from Austin downtown and traffic may not be issues as we will not be driving during peak hours.
We will be living on pension income and some savings. We can budget for up to $8K for property taxes per year but the lower the better. Will $4k per month income (not including mortgage) suffice to cover living expenses, utilities, healthcare, eating out occasionally, and day-to-day stuff?
As we will travel out of town, to reduce property crime, a gated community may be safer. Diverse multigenerational community with a clubhouse offering various activities and tennis or proximity to decent tennis courts, will be good.
Proximity to nature - hills, lakes, parks will be good.
We will have to rely on Obamacare (if it survives) for many years until Medicare kicks in.
Being first-generation immigrants from India, it would be good for my wife to find Asian Indian communities/families/restaurants/stores/cultural associations nearby. Also I am politically independent and my wife leans liberal.
With a housing budget and size requirement like that, you will have very few options in the city and will be relegated to the far flung suburbs.
The property tax issue is very real for retired folks. You will have no control over it, and the way things are going it could rapidly rise beyond your budget.
The population of Austin's age skews very young. It will be much harder to find and make friends in your age group.
I read your post in an earlier retirement thread regarding what your priorities are, and Austin misses the mark on many of them.
Quote:
Originally Posted by andy1918
My wife and I will be in our late 50s in a few years and we are trying to explore retirement cities/states, where we might buy a home pre-retirement. We realize there is no “perfect” city and we may have to live with some trade-offs. Any suggestions you have will be very welcome. Thanks!
The following are our criteria and preferences, roughly in priority sequence.
Wife wants to be sure it is a safe city/area with affordable housing where we can find at least a decent 3 BR 2000 sq ft garden home (We would take a mortgage and can stretch to the low $300K if needed.) She does not want a smaller house though I would not mind downsizing ☺ Austin housing is the opposite of affordable now.
Not too cold in winter (no harsh long winters for us!), not terribly hot in summer though we prefer sunny Austin's temperatures are more extreme than many from other places expect. The low during the colder months dips into the low 20s and even teens. We have ice storms. It occasionally snows. Summers are hot and humid and temperatures can go well into the 100s. Ask anyone who lived through the Summer of 2011 what it was like.
Tax friendly state (we will be living on pension income and some savings) or low combination of property/general state/income taxes Property taxes are high and relentless.
Proximity to a large international airport will be good as we will travel a lot and also be making frequent long trips to India where we have extended family members. Austin's airport is not a true international airport. Houston's the closest.
Being first-generation immigrants from India, it would be good for my wife to find Asian Indian communities/families/restaurants/stores/cultural associations nearby. Also I am politically independent and my wife leans liberal. While Austin has a good sized Indian population, it is spread out. Some tend to live closer to the technology centers because of work, but you won't be able to afford those areas.
Proximity to the hi-tech/gaming/music industry as we hope our children (having interests in software engineering, music, game development, and multimedia) will eventually settle in the same city Right now the tech sector is booming and there are lots of opportunities for good, experienced people. Into the next 10, 20 or 30 years? I wouldn't be my retirement location on it. There are plenty of people starving in the music industry though.
Natural scenic places nearby but preferably a low allergy city/state Allergies in Austin are non-stop. Google "Cedar Fever" for an example.
We are generally healthy but will have to rely on Obamacare (if it survives) for many years until Medicare kicks in. My Crystal Ball is broken on this topic, but I don't see this as anything to count on. Please know that Texas is a low services state, and that will affect your healthcare as well.
(Initially, we had chosen Denver for a retirement city but it falls short on the weather criterion as it gets too cold in the winter and also the housing can be somewhat more expensive. The Austin area seems another possibility but the property taxes there seem to be increasing rapidly and can be unaffordable in the longer run, even if we could afford a house.)
The tennis court thing is tougher as you go north...until you hit a place like Georgetown Tennis Center or the small court complex at Old Settlers Park. Berry Creek Racquet Club is another small hard court club; but it's in the Berry Creek community where homes go up to the 700s(although, there is new construction in that area for $120-140/sq ft....just under $300K). Tennis 'clubs' don't happen much around here and soft courts are non-existent except at country clubs/resorts. For example, Avery Ranch has 4000 homes and FIVE tennis courts...no clubhouse. Some of the high schools have the best courts around but no other amenities for the players...about a 170 degree change from Atlanta(where we were prior to moving here).
Even at 60+, I don't feel anywhere near ready for a 'retirement' village; BUT, I've heard of one(55+ community) going in east of Teravista, Round Rock Outlet Mall, Bass Pro Shop area...just getting off the ground. They expect to have a very active social/activities program; but I have no idea about tennis.
Sun City has a dozen or so courts...don't know how active. Major league HOA there, for good or bad.
With high property taxes, low to no social services and your fixed (more or less) income, why would ANYONE retire in Texas? Of all the variables there, the one predictable thing is what your income taxes will be if you know what your retirement income will be.
I don't know where OP is now, but with 4K predicted and Austin's variables going up, I'd keep looking.
Also, someone should point out that, up until recently, large houses in Austin were rare. So putting a square footage requirement into your search mix almost guarantees a spot in the cow pastures outside of town where the winds blow and the trips to the store are long.
Thanks all for your inputs. We probably may have to keep looking at other cities or relax our housing needs. Though I am seeing in areas like Roundrock and Pflugerville, quite a few houses under 300K that are 2000+ sq. ft and constructed after 2005. And those do not seem to be far-flung areas. Am I missing something?
Gated communities aren't super common and those that do exist are above your price point. Central Texas as a whole is a very safe area.
A "somewhat newer 3 or 4 BR 2000+ sq ft home for under $300K"? Not absolutely impossible to find but not super abundant either, you will be in a suburb/outlaying area. In addition to Cedar Park/Leander, look at Georgetown too. Georgetown has trails, parks, water etc.
If you wanted something smaller, then maybe World of Tennis in Lakeway would work?
Central Texas isn't ideal for retirees because of the high property taxes, and while you rent out the house, you can't claim homestead exemption so expect your taxes to rise each year significantly and then when you can claim homestead, you will have a high base (homestead exemption will only limit the annual increase to 10%).
These parts of town are vast and contain housing from a number of different income levels. In particular, Northwest and North Austin both have fast-growing Desi populations [particularly the area between Research Blvd. (Hwy 183) and MoPac (Loop 1)]. Please explore these areas fully before deciding to choose communities away from diverse Austin and Travis County. Please tell us what you decide!
You are right. We are revisiting our priorities not finding the best place. Thanks for your posting; it is good to get informed perspectives.
Quote:
Originally Posted by A-Tex
I read your post in an earlier retirement thread regarding what your priorities are, and Austin misses the mark on many of them.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
