Dallas affordability (Plano, Paris, San Diego: how much, house, luxury)

[kyam11]

Originally Posted by txfriend

Assume I purchased a house in LA the same time I purchased my house here in Texas in 1983. In Plano the house cost $250K, in LA area $350K. Today the Plano house is valued at about $500K, the house in LA valued at $1.5M to $2M. The property tax for the $1.5M LA house are about $5K annually, in Plano it would cost about $33K, but the $500K Plano house is taxed at $9K annually. In Plano, tax can increase 10% annually the LA house only 1%. My insurance and utility's in Texas are also higher than in LA. Thank you prop 13.

Yes and if you did that in 1983 and asked if you should leave or were still in the same house that you bought in 1983 the advice might be very different.

[BigDGeek]

Can y'all start a new thread to argue about property taxes and who's richer?


The OP's original question isn't getting a whole lot of answers here.

[keribeth818]

I lived in Rochester for 5 years, still have family there. Upstate NY has a huge tax burden. Property tax might be a little higher here depending on where you live there and where you live here. But you dont have the income tax. Homes are newer here, cost of heating/cooling there is more than cost here. Homes are in better condition here and require less maintenance. NO SNOW! Your car will last longer, gas is cheaper (not counting recent events). Sales tax is about the same, a little less. I think you will find that Dallas is a little cheaper and you will enjoy your winters much more.

[NoClueWho]

People can talk about DFW's affordability compared to obviously overpriced places like NY, LA, SF, all they want to. But a good barometer of whether a place is too expensive in and within itself is when your solidly middle class people---like teachers, police officers, fire fighters, nurses, etc.---can no longer afford to live there without struggling. And DFW has definitely reached the point where many solidly middle class working professionals can no longer comfortably afford it, and it's quickly getting worse. That's what a lot of you self-proclaimed "rich ballers" who allegedly don't have to worry too much---if at all---about money fail to understand.

[coffeebreakwhatever]

Originally Posted by Mentallect

People can talk about DFW's affordability compared to obviously overpriced places like NY, LA, SF, all they want to. But a good barometer of whether a place is too expensive in and within itself if is when your solidly middle class people---like teachers, police officers, fire fighters, nurses, etc.---can no longer afford to live there without struggling. And DFW has definitely reached the point where many solidly middle class working professionals can no longer comfortably afford it, and it's quickly getting worse. That's what a lot of you self-proclaimed "rich ballers" who allegedly don't have to worry too much---if at all---about money don't understand.

You are right there. I have been trying to relocate back to Texas for a year now.. and as a retired/senior...can't afford it! And for one reason...high property taxes. Generally speaking, PT's add $300 - $500 (usually closer to $500) to your mortgage payment! I know there is no state income tax and that might help a little if you get a paycheck, but for us retired folks, it helps us none! I used to be a mortgage loan processor.. I know how the qualification works. I can't find a single "loop hole" other than the homestead exemp and senior exemp and they don't tell me specifics....but that I have ato apply and be approved.
I see housing sky rocket all over the state and just wonder.. how are they affording it? I look at $230k homes with $100k down.. and the payment with PT's is $1250 plus. If I didn't have that down, it'd be so much higher. Most don't have that much down. I only have it when I sell my house in CA. So, other than apartments, I just don't get it. And most of the houses I see... are more in the $300plus range.

[TheOverdog]

I look at $230k homes with $100k down.. and the payment with PT's is $1250 plus

$1250 is approximately the rent for a 1 bedroom apartment in most major cities in the US. If that's your mortgage payment, then you are doing pretty well.

[BLDSoon]

Originally Posted by Mentallect

People can talk about DFW's affordability compared to obviously overpriced places like NY, LA, SF, all they want to. But a good barometer of whether a place is too expensive in and within itself is when your solidly middle class people---like teachers, police officers, fire fighters, nurses, etc.---can no longer afford to live there without struggling. And DFW has definitely reached the point where many solidly middle class working professionals can no longer comfortably afford it, and it's quickly getting worse. That's what a lot of you self-proclaimed "rich ballers" who allegedly don't have to worry too much---if at all---about money fail to understand.

Personally I'm tired of the comparisons to NYC and San Francisco, Rome and Paris(okay I'm exaggerating)

Apples and meatballs comparisons in my view. Yes, DFW is less costly than any of those places. AS IT SHOULD BE.

Question is whether it should cost what it does now to live here. It being cheaper than Los Angeles isn't enough why for most people. California's cities / NYC and environs / Seattle/ Toronto/Paris/ Chicago/ Rome etc are expensive for a (good) reason. I wouldn't lump Dallas in there with those cities.

[BigDGeek]

Originally Posted by BLDSoon

Personally I'm tired of the comparisons to NYC and San Francisco, Rome and Paris(okay I'm exaggerating)

Apples and meatballs comparisons in my view. Yes, DFW is less costly than any of those places. AS IT SHOULD BE.

Question is whether it should cost what it does now to live here. It being cheaper than Los Angeles isn't enough why for most people. California's cities / NYC and environs / Seattle/ Toronto/Paris/ Chicago/ Rome etc are expensive for a (good) reason. I wouldn't lump Dallas in there with those cities.

Exactly.


The only things DFW had going for it were:


1.) Jobs
2.) Affordability (below national average cost of living)




Now one of those is gone.

[icecream1717]

Originally Posted by BLDSoon

Personally I'm tired of the comparisons to NYC and San Francisco, Rome and Paris(okay I'm exaggerating)

Apples and meatballs comparisons in my view. Yes, DFW is less costly than any of those places. AS IT SHOULD BE.

Question is whether it should cost what it does now to live here. It being cheaper than Los Angeles isn't enough why for most people. California's cities / NYC and environs / Seattle/ Toronto/Paris/ Chicago/ Rome etc are expensive for a (good) reason. I wouldn't lump Dallas in there with those cities.

Amen! 100% agree.

[NoClueWho]

Originally Posted by BLDSoon

Personally I'm tired of the comparisons to NYC and San Francisco, Rome and Paris(okay I'm exaggerating)

Apples and meatballs comparisons in my view. Yes, DFW is less costly than any of those places. AS IT SHOULD BE.

Question is whether it should cost what it does now to live here. It being cheaper than Los Angeles isn't enough why for most people. California's cities / NYC and environs / Seattle/ Toronto/Paris/ Chicago/ Rome etc are expensive for a (good) reason. I wouldn't lump Dallas in there with those cities.

THANK YOU!!! Very well said!