Dallas Housing Market (Houston, Plano, Richardson: 2014, condo, house prices)

[Kenro911]

Originally Posted by Titus Pullo

I recently retired from the FDNY and have always considered northern dallas as my retirement destination. But the area has seen tremendous property price increase and I'm wondering if it's still sensible for a retiree.

I currently rent a single family home in Long Island. My monthly expenses are $3300 with the rent being the major chunk. We have 3 vehicles all fully owned. You can add $1500 per year for the car insurance. Not every one in NYC lives car free. So all this talk about living in Manhattan sans vehicles made me chuckle.

I only put about 3-5K miles on each of the cars which would be way more in Dallas due to everything being spaced far apart (shopping, restaurants etc).

I would like to purchase a house and that fact seems unobtainable around NYC. There is nothing less than $500K in decent areas from Long Island to Upstate NY to New Jersey. The next big issue is property taxes which are a minimum of $11K in Long Island.

My question is how much more or less is Dallas in the following areas:

Property Taxes
School Taxes (If additional)
Car Insurance
Gas & Electric Utilities

My future home is desirable to be 4 bedrooms with 3 baths. I LIKE Plano. Is Murphy, Richardson & Wylie comparable? I know pre-pandemic one could get a nice ranch in Wylie for about $260 to $280K. I am looking to spend no more than $500K.

Thank you to all in advance. BTW, why Dallas? It's mainly due to the amount of house you could get for your money...especially before the recent boom. The second reason is my pension will not be taxed.

Your property taxes will be same if not more.
There is no additional School taxes
Car Insurance in DFW is highest in the nation
Gas and Electric is expensive.

Buying a decent house for 500K will be difficult.

What made you chuckle about the car? You live on Long Island, of course you need a car. How many people who live in Manhattan have a car? A minority. What so funny?

[Leonard123]

Originally Posted by Kenro911

Your property taxes will be same if not more.
There is no additional School taxes
Car Insurance in DFW is highest in the nation
Gas and Electric is expensive.

Buying a decent house for 500K will be difficult.

What made you chuckle about the car? You live on Long Island, of course you need a car. How many people who live in Manhattan have a car? A minority. What so funny?

I'm not sure if you've checked, but $500K is not difficult unless your definition of "decent" is unrealistic. In Wylie, that's above the median and would likely support something brand new. In Plano, that's not far off from the median. I suspect you're more focused on the McMansion market.

[EDS_]

Originally Posted by Kenro911

Your property taxes will be same if not more.
There is no additional School taxes
Car Insurance in DFW is highest in the nation
Gas and Electric is expensive.

Buying a decent house for 500K will be difficult.

What made you chuckle about the car? You live on Long Island, of course you need a car. How many people who live in Manhattan have a car? A minority. What so funny?

Where are you getting the DFW has the most expensive auto insurance in the country?

[mastershake575]

Originally Posted by Titus Pullo

My future home is desirable to be 4 bedrooms with 3 baths. I LIKE Plano. Is Murphy, Richardson & Wylie comparable? I know pre-pandemic one could get a nice ranch in Wylie for about $260 to $280K. I am looking to spend no more than $500K.

Murphy is most likely a no. 95% of the houses that are at least 4 bedroom 3 bath are well over your budget. It's a combination of the houses being relatively newer + a lot of them are massive. Wylie is a little far out for my liking. Richardson would have been a great value 5 years ago but now, prices are really high (4bd 3bath in any of the good areas of Richardson like Mohawk, Heights Park, Canyon Creek, Prairie Creek, Breckinridge, Sherill Park, Waterview estates is a no). In most of those neighborhoods' builders are paying close to your budget just to tear the house down.

South and Central Plano is most likely your best bet. Good central proximity (Close to Allen, Frisco, North Dallas, Richardson), good city services, and most importantly a fair amount of houses in your budget.

Originally Posted by Titus Pullo

Thank you to all in advance. BTW, why Dallas? It's mainly due to the amount of house you could get for your money...especially before the recent boom.

DFW was extremely under-valued up until 2017ish but houses have doubled in most areas in the last 6 years. Alot of the "bang for your buck" has dried up + a lot of the value people who moved here desired was the abundance of public schools that are ranked top 8% in the nation which doesn't even apply to you since you don't have kids.

[Kenro911]

Originally Posted by EDS_

Where are you getting the DFW has the most expensive auto insurance in the country?

https://www.outdoorsy.com/blog/us-ci...gerous-drivers

DFW is most dangerous city in USA to drive in.

[EDS_]

Originally Posted by Kenro911

https://www.outdoorsy.com/blog/us-ci...gerous-drivers

DFW is most dangerous city in USA to drive in.

That's not what you claimed above.

[Kenro911]

Originally Posted by EDS_

That's not what you claimed above.

You do realize insurance companies are not a charity? Right?

[ThomasCrown]

Originally Posted by Kenro911

You do realize insurance companies are not a charity? Right?

What you posted is not proof that DFW has highest insurance rates in the country. If you're going to make a claim, at least back it up with some factual information that supports your assertion. Otherwise you just look foolish.

[numbersguy100]

Originally Posted by Kenro911

You do realize insurance companies are not a charity? Right?

They aren't a charity but there are lots of factors that go into insurance rates. It's like saying that Seattle has the best lakes because there is so much rain. Not a causal relationship between the statements. Texas has very high homeowners insurance rates, but auto I don't find to be to offensively high.

[EDS_]

Originally Posted by Kenro911

You do realize insurance companies are not a charity? Right?

Well, my wife worked for an insurance company for years.....that's why I knew you claim was bogus.