TRUE Utility Costs (Allen, Frisco: real estate, rent, HOA)

[AndyRoddy]

Hi,

I'm considering moving from NJ to Allen, TX or one of the surrounding areas.
I've talked to several realtors and even owners, and I have received widely ranging reports on what to expect for utility costs. Some people tell me it should be $2,000 / yr for heating and cooling, and others say it'll be closer to $1,000 per month for the 4 summer months.

Obviously, I realize the age of the home is a factor.

I am looking for a home in the 300-350k range, mid 2000s construction, 3500-4000 SF, and a decent sized yard (which can be hard to find in these parts unless you want a corner lot). If you own a home like this in the DFW area, can you please provide some kind of guidance?

My current costs in NJ are:

heating (oil) + cooling - $1,300 / yr - set to 70 in the winter, and 79 in the summer
water - $400/yr
gas - $400/yr
electric - $1,200 / yr
rent - $22,000 / yr
insurance - negligible - $100/yr
state tax: $8,000 / yr

total : $33,400 / yr


Based on what I have heard about DFW, I EXPECT:

heating (oil) + cooling - $2,500 / yr
water - $600/yr
gas - $400/yr
electric - $1,500 / yr
mortgage - $18,000 / yr
insurance - $1,200/yr
RE tax + HOA - $8,000 / yr
State tax - 0

total: $32,200 / yr

Of course a more modest home will have lower utility, mortgage, and RE tax rates. The numbers above represent my estimates for a home at the upper end of my price range, or $350k.

Obviously one of the reasons for the move is the lower cost of living and the better quality of life, proximity of family, etc, but if my utility costs go are going to be $1,000 or more per month, that offsets many of the reasons for wanting to make this move.

Hope you can help provide some real-world data.

Thanks

[sossie]

Big house -big family

Water trash about $100 per month
Heating is usually gas-not oil our gas bill is about $60 per month -we have tankless water heater and and gas range -our house was built 2012 and we have our gas fire on alot-cause it looks pretty!
electricity in winter has been around $120 per month-my dryer runs everyday at least once if not twice
no state income taxes
real estate taxes depend on where you live they do vary alot-you can look up any potential property you want to buy online through the county appraisal district -that will give you a better idea

Our insurance costs actually went down (previous house in MA)
And our house is much bigger in TX
Food prices seem cheaper here to me and gas for your car is cheaper than MA too
Hope it helps

[AndyRoddy]

Originally Posted by sossie

Big house -big family

Water trash about $100 per month
Heating is usually gas-not oil our gas bill is about $60 per month -we have tankless water heater and and gas range -our house was built 2012 and we have our gas fire on alot-cause it looks pretty!
electricity in winter has been around $120 per month-my dryer runs everyday at least once if not twice
no income taxes
real estate taxes depend on where you live they do vary alot-you can look up any potential property you want to buy online through the county appraisal district -that will give you a better idea

Our insurance costs actually went down (previous house in MA)
And our house is much bigger in TX
Food prices seem cheaper here to me and gas for your car is cheaper than MA too
Hope it helps

Thanks Sossie. Can I ask what type of cooling you have, and how much that costs in the summer months?

[TheOverdog]

heating (oil) + cooling - $2,500 / yr
water - $600/yr
gas - $400/yr
electric - $1,500 / yr
mortgage - $18,000 / yr
insurance - $1,200/yr
RE tax + HOA - $8,000 / yr
State tax - 0

I would say your water bill is low, unless you are going for a zero-lot line home. It should be about double, around $100 a month and up.

Gas is correct, but expect to pay most of that in the winter. The rest of the year, it's pretty cheap.

Electric is a little low unless you have a very efficient home; I'd expect $200 a month and higher, with most of that in May/June/July/Aug/Sept when the A/C is running.

Your insurance is low. I'd say it should be about double for such a large house.
Your taxes seem a little low depending on which county you are in the metroplex for a $300k house.

You could have those prices in the DFW area, but I think the house would be bit smaller than what you are asking for.

[sossie]

Central air 3 units -high seer numbers-electricity

We haven't had a summer in this house-but I dont expect it to be any worse than our old house in MA-we had 3500 sft house up there and it ranged from $350-$450 PM in the summer-but our new house is much more energy efficient -I suspect it will be around $350 pm

also HOA's vary alot-ours is $50 pm but one other house we really liked was $250 pm-I guess once you know what area you want then you can really narrow down the taxes/hoa/mort part.

[AndyRoddy]

Originally Posted by TheOverdog

I would say your water bill is low, unless you are going for a zero-lot line home. It should be about double, around $100 a month and up.

Gas is correct, but expect to pay most of that in the winter. The rest of the year, it's pretty cheap.

Electric is a little low unless you have a very efficient home; I'd expect $200 a month and higher, with most of that in May/June/July/Aug/Sept when the A/C is running.

Your insurance is low. I'd say it should be about double for such a large house.
Your taxes seem a little low depending on which county you are in the metroplex for a $300k house.

You could have those prices in the DFW area, but I think the house would be bit smaller than what you are asking for.

Thanks Overdog. I had actually assumed $120/mo for electric IN ADDITION to $200/mo for cooling and heating. If I understand you correctly, you're suggesting that $200/mo includes the A/C?

Thanks again.

[enjen]

allen is 2.54% of appraised house price for property tax. So on a 350k house you're looking at 8-9k.

Also, Sossie's house was built in 2012 which means it's pretty efficient. I know some highland homes can cool/heat a 5,000 sq ft house for about 185-200 a month on average.

[TX75007]

Originally Posted by AndyRoddy

Based on what I have heard about DFW, I EXPECT:


Thanks

We rent an early 80s home with 3000 SF. I also own two other homes built in the 70s that are 3000SF and rent those out.

Using the current home we rent:

heating (oil) + cooling - 0$ / yr (Mostly electric - see below)
water - $700/yr
gas - $400/yr
electric - $2,400 / yr
rent - $18,000 / yr
insurance - $100/yr
RE tax + HOA - $0/ yr

total: $21,700 / yr

The newest homes will have about half the utility costs listed above. They are VERY efficient.

We get a deal on our rent because the owner and realtor (property manager) like us a lot. You might have to pay $1800 a mo for a comparable place.

[stephwin]

We live in Frisco and our house is about 4400 square feet I think. It was built in 2005 and we have solar screens on the west side and tons of insulation in the attic. Our home was in the same price range as what you are looking for when we purchased it in 2009. We have a gas fireplace, hot water heaters, furnaces, and cooktop. Our A/C and dryer are electric.

There are only 2 of us living here right now, so the water bill and gas/electric is lower than what you will see if you have kids. In the winter our temps are set to 67 and in the summer it is 78. We set them a little higher/lower upstairs. We both work so when we leave, our thermostat raises or lowers the temperature so that the A/C and heater don’t run all day when no one is home.

Electric + gas = $1249 over the past 12 months
water + trash = $732 the past 12 months
insurance = $1,768 a year (multiple discounts due to other policies we have with them)
RE tax + HOA = taxes were just under $7800 + $480 HOA a year

[AndyRoddy]

Thank you all for your help. It's great to see so many replies in a short period of time. These numbers are well within range, and they help me overcome the concern of "$1000/mo for electric during the summer" that some others have suggested.

We're truly looking forward to doing more research on this part of the country, and to call it home by the end of the year.