Average property taxes/home owner insurance in North Dallas (Plano: transplants, homeowners insurance)

[AlinSoCal]

Hi everyone,

I'm sure this is probably the millionth time you've read somebody from California is considering a move to Texas due to the outrageous housing prices we have here.

Can you give me an idea as to how much a typical homeowners insruance would cost in say Frisco/Plano area, and also what the property taxes might be? I'm thinking about buying something in the 3000SQFT range for around $275K or so.

Also, from what I'm being told, Frisco and Plano are two of the nicest places in the Dallas area. Is that correct? My job would be in Allen so I don't want to be too far from there.

Lastly, if there are any SoCal transplants here, can you tell me how you like the Dallas area? I've never gotten the impression that Dallas would something like AL or MS, you know, the really deep south. Am I correct on this assumption?

Thanks,

Al

[lpepping]

Plano/Frisco are nice suburban areas. It is not like the deep south here. There are lots of transplants. After your homestead exemption kicks in the property tax shouldn't be more too much more then 6k.

[AlinSoCal]

Thank you! What about homeowners insurance, do you know what the rough ballpark number is for a house that size?

[KantLockeMeIn]

A rough average of property tax is 2.4-2.7% of the fair market value of the home. Unlike other areas I have lived in, if you buy the home for 300k, you're getting taxed on close to 300k. The homestead exemption is a flat deduction, not a percentage, so it helps a lot more on a 100k home than on a 300k home. Most areas I think it's 15k and only on the ISD tax.

For a newer home with all the standard locks and deadbolts, security system, etc, I would expect a $275k home to cost around $800 a year to insure assuming a 1% deductible. Get multiple quotes... we saw some companies quoting 2.5x what others had quoted for the same coverage and deductibles.

[nativeDallasite]

Originally Posted by AlinSoCal

Hi everyone,

I'm sure this is probably the millionth time you've read somebody from California is considering a move to Texas due to the outrageous housing prices we have here.

Can you give me an idea as to how much a typical homeowners insruance would cost in say Frisco/Plano area, and also what the property taxes might be? I'm thinking about buying something in the 3000SQFT range for around $275K or so.

Also, from what I'm being told, Frisco and Plano are two of the nicest places in the Dallas area. Is that correct? My job would be in Allen so I don't want to be too far from there.

Lastly, if there are any SoCal transplants here, can you tell me how you like the Dallas area? I've never gotten the impression that Dallas would something like AL or MS, you know, the really deep south. Am I correct on this assumption?

Thanks,

Al

I have a friend in Allen whose property taxes were under $5k for a house that's over 3000 square feet.

I would strongly urge anyone wanting to buy a house with a lot of square footage to consider cooling/heating costs. Houses in Texas are very poorly insulated (even new builds) and depending on how cold you like it, your monthly electric bills in summer could get close to $1k.

Just to be pedantic...Frisco and Plano aren't "north Dallas". My parents live in north Dallas and their property taxes are nearly $9k per year for 2400 sq ft on .45 acres. Ouch!

Lastly...Dallas is nothing like Mississippi or Alabama. Nothing. Like.

[hamiltonpl]

Dallas isn't really southern, or western, or midwestern or eastern. It's a mix of all four.

However, anyone who thinks Dallas is "deep south" really doesn't know their history or geography. I know you're not implying that, but occasionally we get trolls on here that try to paint us with the same brush as Jena, La. Dallas is a huge metro area with 6 million people.

I'd also consider moving to DALLAS. And not just the suburbs. There are more things to do and your house will get more appreciation.

[AlinSoCal]

Thanks everyone, this is very helpful. When you say move to Dallas, what's a good part of the city and what are the prices like? Also, how far of a commute will that be to Allen?

[nativeDallasite]

Originally Posted by AlinSoCal

Thanks everyone, this is very helpful. When you say move to Dallas, what's a good part of the city and what are the prices like? Also, how far of a commute will that be to Allen?

Allen can be quite a commute; from where I am it can take anywhere from 30 minutes to 1 hour to drive to Allen. It'd be almost that bad to Plano and much worse to Frisco.

Dallas has some really nice areas but it really depends on your budget. The median price for a home is low in the city, but there is only a handful of areas in Dallas where I would buy a home that I could actually afford. If money is no obstacle, then...there's TONS of nice 'hoods in Dallas.

[hamiltonpl]

North Dallas and East Dallas have some very nice areas. I think the average house prices are 300k (East Dallas) to 500k (North Dallas) on the low end in both areas.

I didn't think about the commute to Allen. It would be pretty rough from the City of Dallas.

[FarNorthDallas]

Allen is very nice. You could live very close to your job if you lived in Allen.