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Old 04-27-2007, 06:23 PM
49 posts, read 243,091 times
Reputation: 21


Okay, I am feeling a bit overwhelmed right now. I just got off the phone with the loan officer, preapproving our loan to buy a home in TX. Well, apparently the homes we have been looking at all along are completely out of our price range (mostly around 240-269,000) She said that property taxes would run us approx. $500 a month! Now, we were aware they were high in TX, but that high??? And she also said that homeowners ins. is about $1200/yr- is that right? Right now in VA we pay about $400/yr. I was thinking maybe because of tornadoes but that still seems mighty high. With all that added in, and then factoring in a power bill that will be more than twice what we pay now. If we move out there, I am afraid we will have to live in a cardboard box Please somebody tell me these numbers are not right!!!
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Old 04-28-2007, 02:03 AM
Location: Fort Worth, TX
1,379 posts, read 6,188,793 times
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Property taxes run around 3% (for Fort Worth) of the value of the home and that changes and revalued every other year. There are homestead exemptions, but it depends on the city and county that you live in as to what those exemptions are as each city is different.

Tarrant County's taxing authority is here - www.tad.org (it comprises- city taxes, ISD, emergency services, hospital, etc).

Not sure if Virginia has them, but one benefit to us was that in CA we had state income taxes, so while our property taxes will be higher here in TX, we aren't paying any income taxes and for us it is about a wash.

Property insurance will be higher. I would definately shop it though, although that sounds about right. Its not so much the tornadic activity but the hail damage to roofs that is more prevalent here.

Not sure if you are building or buying a resale, but if it is a used home, ask your agent what the taxes were last year and that will give you a good idea of what they are. I know that we looked at some houses in the 300K range and was suprised when they had been about 9K because it was the particular area that we looked.
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Old 04-28-2007, 06:34 AM
35,428 posts, read 55,030,296 times
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There are some MLS sites that give taxes paid on homes they list...can't give you one because that is consider advertising...

think the mortgage money will be tighter now because of some of the fallout/foreclosure rates...

insurance for a larger new home will usually be cheaper than for smaller older home because of things like new electrical wiring, security system,--but that is certainly shoppable...

Older homes bought on resale market do not automatically get reevaluated at their selling price--goes by neighborhood evaluation and can only rise so much each year (capped at certain % of increase and value of home)...

check the TAD data and they can give general info over the phone if you have questions...not specific tax amounts but probably ball park figures...
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Old 04-28-2007, 06:59 AM
Location: Fort Worth/Dallas
11,884 posts, read 35,555,146 times
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Why not look at a less expensive house and just purchase one that is more within your means? You can find a really nice home for much less than the 250K range in this area, and things such as higher property taxes and insurance wouldn't be as much of a problem. If the difference between 250K for a home and 180 or 190K was like night and day, I could understand the dilemma, but it's not like you would be living in the slums at 190K or even much below that. We own a lovely home that's valued at 150K and love our area; it's clean, free of crime, and the neighbors are great. I can understand getting as much home as you can, but to get something that may be a little beyone your means might be pushing it. Just my thoughts. BTW, the property taxes are high, but there is no state tax so you need to figure that into your calculations.
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Old 04-28-2007, 10:47 AM
49 posts, read 243,091 times
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Thanks for the replies! Yea, obviously we are just going to have to adjust the amount of house we are looking for. Just upsetting because we have really been planning on things being a certain way and now we find out that it won't be that way at all. We thought this would be a move up for us, and hopefully be our 'forever' house or close to it, but that just isn't going to happen I guess. Well, at least we know where things stand finance wise, so we will move ahead from there. We will be out there in 1 1/2 weeks to look around. Hopefully we find a wonderful and CHEAP house!
Since homeowners ins. seems to be so much higher, does anyone know if auto ins. is higher as well?
And we have been looking at different taxes, seeing where we will save/spend more. Seems the lack of income tax will help us but not nearly as much as the property tax will hurt us. I gather there is not a property tax every year on automobiles, correct? Is there any food tax out there?
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Old 04-28-2007, 02:01 PM
Location: Fort Worth, TX
1,379 posts, read 6,188,793 times
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Default Cheer up!

Actually, it just depends on the size of the house that you are looking for. My Mom found her dream home for 165K in Saginaw. It is 1700 sq ft and completely upgraded and brand new. She has great neighbors and is in a very safe neighborhood. It was definately a step up from her house in CA that she sold for four times the price. So you just have to look. The good thing is that there is still a LOT of inventory and a lot of choices.

I think the hardest part is going to actually pick where you want to be.

I can't tell you the difference if it is going to be higher than VA, I can only tell you that it was a little higher on car insurance from CA because of the tendency for hail damage. Also in CA they only have uninsured. Here in TX they also have "underinsured" as well as uninsured. I would shop that as well.

Not sure about the property tax on the car, but I don't think so. I know that the registration and gas is a TON cheaper here than in CA.

There aren't any taxes on purchasing food items (non food items are) at the grocery store, but taxes on eating out.

I guess in short, don't get discouraged, I think that you will find that overall you will be able to find a really nice house out here for that money and there are so many other things to do here, you don't want to get saddled with too big of a house.
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Old 04-29-2007, 07:49 AM
Location: Fort Worth, Texas
103 posts, read 657,317 times
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There are definitely some wonderful homes in nice areas in the DFW area that are WAY under the prices you listed above. It is all going to depend on where you want to live. Some areas are in higher demand than others, therefore those areas' homes are going to be higher prices. Some have more shopping and amenities closer by than others. Etc...etc.

What area of Fort Worth are you thinking of moving to?...perhaps we all can take you to some nice areas with homes more in your price range.

We just purchased a house that is being built at this moment. The exact model house with the same builder is different prices from one neighborhood to another. Originally we were going to stay in the general area we currently live in...but the model home we wanted was $142,000 to start (1800 sf, one story), as opposed to moving just ten minutes west where that model starts at $119,000! The area we are moving to isn't as "built up" than our current area...and, I'm sure this may have someting to do with the cost. However...they are building the area up and improving it quickly, so in no time we may have additional amenities (we're moving from the Park Glen/Summerfields/Fossil Creek area to "Lake Country" near Eagle Mountain Lake/Marine Creek Lake).

With this said...the final cost of our new home with LOTS of upgrades (taller cabinets, ceramic tile, study, shower upgrades, appliance upgrades, blinds, hardward upgrades, etc) is still under the starting price of the home in the neighborhood closer to where we live now w/o the upgrades! I'm sure we could have easily gotten up to $180,000 with the same floorplan/model after we put the upgrades in!

Good luck with your search!...and, don't feel discouraged! Like I said above...there are plenty of beautiful homes in a lower price range all over Fort Worth and the Mid-Cities area.
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Old 04-29-2007, 08:07 AM
49 posts, read 243,091 times
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Thanks for the help. We are looking and yes, we have found some that are still acceptable yet in a lower price range. It's just been difficult to adjust our thinking, but that's okay- I know we will still find something we are happy with.
We are looking in Burleson/Joshua and Aledo/Weatherford areas (mostly interested in Burleson though), with min. sq ft of 2100. We were really hoping to get 1-3 acres but now we are settleing for .3 acres. I love the idea of getting new construction but it is SO hard to find homes that have any yards, not to mention that we would really like to be able to move in around 1st of july.
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Old 05-21-2007, 07:24 PM
Location: San Antonio, Texas
34 posts, read 148,938 times
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We looked at a house out by Eagle mountain Lake that had 1 acre and about 2300 sq ft, one story, 4 bedrooms, 2 baths, a couple of years old and it was $219. We didn't get it cause we wanted a half bath and a little more space cause we have 4 kids.

You may want to check it out! It was right across from an elementary school. I like to use realtor.com, you can set the criteria and find great stuff. I send the MLS to my realtor and she sets up the appointments.

The house we went with was in Park Glen, 2660 sq ft, 2 story, 4/2.5/2 for $169...very nice house with lots of great upgrades, plantation shutters, hardwood floors, etc. We are very happy although we had looked at homes that were up to $229, this one was the one that fit us best that someone didn't snatch out from under us. The houses are going fast; if you find one you like be prepared to make a move on it! My husband is already there and I am still in San Antonio so he wanted me to see all the ones he liked, but they didn't wait

Good luck and hope you find something that is perfect for your family.
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Old 05-25-2007, 02:50 PM
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In Arlington, Tx. at least in the Woodland West subdivision which is very quiet and most of it very nice, for around $165,000 you can get a 2200-2300 square foot custom type home on a quite tree lined street.

For the price you just can't get much better in this area.

The neighborhood shopping is constantly being upgraded and everthing you need is very close and it even has a small town feel. Shady Valley country club is just down the street and a few of the homes are even lakefront, with a couiple of small lakes around.

Keep looking you can find hidden gems all over the metroplex if you just stick with it.
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