::Moving to BigD, young couple and working at Parkland:: (Dallas: loans, how much)

[jcaughron]

Hello everyone. I've been perusing this site for a couple days now and have become almost obsessed with looking at online MLS searches. Here's the scoop:

1. I will be a resident at UTSW/Parkland med center and will need to be there daily by 7:30

2. I will be living on my pay ~45K gross and my wife is currently looking for a job (she has a master's and we're hoping for at least 35-40K). We really don't have much debt (other than deferred med school loans) other than a $250/monthly car payment. Probably looking for putting down ~30K and financing up to maybe 180K

3. We're probably looking at the burbs for the most part. We would like a small yard (a pool is always a plus), but are not completely ruling out townhomes w/ small fenced in backyards. But at the same time, we certainly want to be able to take advantage of what uptown, deep ellum, downtown has to offer in regards to dining, nightlife, etc.

4. I have heard taxes are absurd! Like appx 6K on a 200K home? Is this true?

5. I have been looking at areas like Irving/Las Colinas, Carrollton, Lakewood? Any other suggestions? What can I expect in regards to commute?

6. Schools are NOT an issue.
7. Will probably sell and relocate in appx 5 years.

Thanks my soon to be fellow Texans!

[bookworm2768]

Originally Posted by jcaughron

Hello everyone. I've been perusing this site for a couple days now and have become almost obsessed with looking at online MLS searches. Here's the scoop:

1. I will be a resident at UTSW/Parkland med center and will need to be there daily by 7:30

2. I will be living on my pay ~45K gross and my wife is currently looking for a job (she has a master's and we're hoping for at least 35-40K). We really don't have much debt (other than deferred med school loans) other than a $250/monthly car payment. Probably looking for putting down ~30K and financing up to maybe 180K

3. We're probably looking at the burbs for the most part. We would like a small yard (a pool is always a plus), but are not completely ruling out townhomes w/ small fenced in backyards. But at the same time, we certainly want to be able to take advantage of what uptown, deep ellum, downtown has to offer in regards to dining, nightlife, etc.

4. I have heard taxes are absurd! Like appx 6K on a 200K home? Is this true?

5. I have been looking at areas like Irving/Las Colinas, Carrollton, Lakewood? Any other suggestions? What can I expect in regards to commute?

6. Schools are NOT an issue.
7. Will probably sell and relocate in appx 5 years.

Thanks my soon to be fellow Texans!

Hello there! I think since you need to be at work by 7:30 you will miss the worst of the commute times.
Irving/las colinas is lovely in some areas, packed like sardines in others.
Carrollton, where I live, is not a pretty town. Nice parks, good school system but not pretty. However I think Carrollton will be more in your budget than Irving.
You are right about the taxes - around 3% but there's not state tax so you do save on that. There was a thread somewhere hereabouts about things people did not expect when they moved to Dallas. You might want to take a gander at that.

[Spree]

>. 5. Lakewood?<<

This would be the best area imo but it might be out of your budget, but would be the best for a return in 5 years.

[lpepping]

Originally Posted by bookworm2768

Hello there! I think since you need to be at work by 7:30 you will miss the worst of the commute times.
Irving/las colinas is lovely in some areas, packed like sardines in others.
Carrollton, where I live, is not a pretty town. Nice parks, good school system but not pretty. However I think Carrollton will be more in your budget than Irving.
You are right about the taxes - around 3% but there's not state tax so you do save on that. There was a thread somewhere hereabouts about things people did not expect when they moved to Dallas. You might want to take a gander at that.

3% is a bit much don't you think? Then when you take into account the homestead exemption it is even less. Of course it depends on what city/county you are in.

[Spree]

>> 3% is a bit much don't you think? <<

3% is the top end, the range is 2.1% to 3%

here's a link to a pdf for the property taxes in Dallas Co. http://www.dallascad.org/forms/2007rate.pdf

[ufcrules1]

Originally Posted by jcaughron

Hello everyone. I've been perusing this site for a couple days now and have become almost obsessed with looking at online MLS searches. Here's the scoop:

1. I will be a resident at UTSW/Parkland med center and will need to be there daily by 7:30

2. I will be living on my pay ~45K gross and my wife is currently looking for a job (she has a master's and we're hoping for at least 35-40K). We really don't have much debt (other than deferred med school loans) other than a $250/monthly car payment. Probably looking for putting down ~30K and financing up to maybe 180K

3. We're probably looking at the burbs for the most part. We would like a small yard (a pool is always a plus), but are not completely ruling out townhomes w/ small fenced in backyards. But at the same time, we certainly want to be able to take advantage of what uptown, deep ellum, downtown has to offer in regards to dining, nightlife, etc.

4. I have heard taxes are absurd! Like appx 6K on a 200K home? Is this true?

5. I have been looking at areas like Irving/Las Colinas, Carrollton, Lakewood? Any other suggestions? What can I expect in regards to commute?

6. Schools are NOT an issue.
7. Will probably sell and relocate in appx 5 years.

Thanks my soon to be fellow Texans!

My wife and I are going to move to Irving, Tx. as well. We are currently waiting for the right house to come on the market so I know what you are saying about the MLS listings. I want to clear up some things for you.

1. The property taxes are high. A 200k home would be approx 5 to 6k range in propety taxes. The catch is you do not pay any state income taxes or local taxes. Take a look at how much you & your wife have paid to state this year. My wife and I paid 10k. I'm sure you and your wife are close to that range. Even if you are at 5 or 6k, that will pay your property taxes! So they are high but thats only because you do not pay state taxes out of your check.

2. I have looked at several areas and for my wife and I North Irving/Las Colinas area is the best. It's a little more upscale, plenty of restaurants, 10min from the airport, and plenty to do. Its about 13 to 20miles away from Dallas. Carollton is decent but not near as nice as Irving (Valley Ranch) area. It may be more in your price range though. We are looking in the 300K+ range. I would still check out townhouses if I were you and see if you like anything in your price range.

3. I have a buyers agent helping us. If you would like his contact information you can email me at aoliver@targetdist.com

[lpepping]

Originally Posted by Spree

>> 3% is a bit much don't you think? <<

3% is the top end, the range is 2.1% to 3%

here's a link to a pdf for the property taxes in Dallas Co. http://www.dallascad.org/forms/2007rate.pdf

Anyone know off the top of their heads which areas are 3%? (Don't really have time to add them all up, unless I am just blind and missed it )

[nsumner]

The highest is Addison at 2.99, Highland Park is 1.82 These are for 2007.

Naima

[lpepping]

Originally Posted by nsumner

The highest is Addison at 2.99, Highland Park is 1.82 These are for 2007.

Naima

Thanks...yea I remember Addison taxes being pretty high when I was looking for a house.

[mancia22]

Does anyone know the property tax for Grand Prairie?