The real cost of living in Houston (home owners insurance, home)

[jek74]

Originally Posted by va_residents

See this house 2527 Ralston Branch Way, Sugar Land, TX 77479 - HAR.com

They are asking for 229,900, but appraised at 222,420. The tax is 7,434. The asking price is very close to the assessment value. The status is pending.

I did a search on HAR in the Woodlands for all homes 300k and under.

15 N Spinning Wheel Cir, The Woodlands, TX 77382 - HAR.com

Home is listed for 300k

Here is the tax info.

Appraisal Value: $267,160 Tax Amount: $6,904 / Year
Comes out to 2.3%. You can see the history of the assessment over the last 3 years.

Tax Year Value Index Tax Assessment Change 2011 $97.61 $267,160 0.00 % 2010 $97.61 $267,160 3.44 % 2009 $94.37 $258,280 --

[ToyYot]

My HOA is $500/yr.

[jek74]

Originally Posted by BDFP

My HOA is $500/yr.

Ours is about $650 a year for the Woodlands. Not sure where that guy is getting several thousand from.

[Cabot]

We have a Civic Assoc and we pay the grand sum of $125 a year! One of the joys of living in an older subdivision and a well maintained one too.

[EasilyAmused]

My brother's house in The Woodlands was over 2,500 for the HOA when he lived there. Total BS pro-rating. The house was maybe valued at 550k.

Now we all pay under 750 a year for HOA's, close-in, bigger lots and houses. With the bonus of a private patrol contract and twice a week back door trash pickup. So in turn, housing may cost more closer in, but you do get some breaks in HOAs, lack of Mud, cheaper lawn and housekeeping...not to mention gas and car wear and tear.

If you are willing to drive, the cost of living is much cheaper than other cities. We have no state income, so you do get a break on that. You have the choice to live in a house below your means to escape the higher property taxes. There isn't an escape to income tax. But closer in, some areas are verging on LA pricing for fixer "bungalows." Like everywhere else, affordability is based on location. As to the OP's other concerns, i've had ac units over 20 years old, roofs over 30, insurance is based on what you have in the house really, but utility bills are major in the summer. also, I would never buy a house where the structure is worth more than the land. Jmho. In a major disaster, high property value will save you in many ways.

[detiah]

The Woodlands doesn't have an HOA fee anymore. It was replaced by a township property tax levy.

No more HOA Fees in The Woodlands

[colcat]

Originally Posted by detiah

The Woodlands doesn't have an HOA fee anymore. It was replaced by a township property tax levy.

No more HOA Fees in The Woodlands

Yes, I mentioned this in a previous post.

[uscgto]

Living in Houston is definitely cheaper. Remember what you're getting for your money before you actually "compare" costs.

I bought a 4800 sq-ft home for $500k in a top school district with warranty - The exact same home in California, for example, would set you back $2M easy.

- I pay 3.5% tax on 500k ($15,000) vs 1% on $2M ($20,000)

- My HOA is $975/yr , I know some people who live in 1400 sq-ft condos in Los Angeles and pay $400/ month.

- My utility bill for July/august was $185 for a 4800 sq-ft home. Theres a baby in the house, so the temp is ALWAYS 71 (summer) -73 (winter). The house is tight and has a excellent energy efficiency rating..

[crbcrbrgv]

Originally Posted by uscgto

Living in Houston is definitely cheaper. Remember what you're getting for your money before you actually "compare" costs.

I bought a 4800 sq-ft home for $500k in a top school district with warranty - The exact same home in California, for example, would set you back $2M easy.

- I pay 3.5% tax on 500k ($15,000) vs 1% on $2M ($20,000)

- My HOA is $975/yr , I know some people who live in 1400 sq-ft condos in Los Angeles and pay $400/ month.

- My utility bill for July/august was $185 for a 4800 sq-ft home. Theres a baby in the house, so the temp is ALWAYS 71 (summer) -73 (winter). The house is tight and has a excellent energy efficiency rating..

Comparing Houston to California makes no sense.

Comparing it to Chicago is a little more fair.

[lucky_seven]

Originally Posted by EasilyAmused

also, I would never buy a house where the structure is worth more than the land. Jmho. In a major disaster, high property value will save you in many ways.

Then you just eliminated virtually all the nicer houses. The typical $450k house in an affluent area in the suburbs has a land value of $100k and a $350k structure sitting on it.

what major disaster are you thinking about? Isn't that what insurance is for?