Quote:
Originally Posted by PoorLurker
I have heard some good things about Plano, TX. I know that someone else in your thread mentioned that area as well as an area that is showing a lot of growth.
I think that TX does have 2% property taxes though.
Do you already have relationships established with contractors to do flooring, tile, etc? Also, do you have a trustworthy handyman? One of my biggest issues is finding someone trustworthy who I can call and trust to replace the issue without trying to price gouge me.
I remember looking at Santa Ana condos near downtown like 3-4 years ago for like $100k for a 2bd. Looking back on that, I totally missed the boat!
|
Taxes are closer to 3% and houses in Plano need to be around $600,000+ for a good one. There are a lot of meh areas of Plano East/West are very different and many of them are getting older. Plano is essentially built out, so not sure about people saying there is growth. Frisco is growing and even that is getting basically built out. People are going even FARTHER north, which is crazy given the traffic in Dallas. People are driving almost 2 hrs to work in traffic and paying $25/day roundtrip in tolls.
The cheapness of real estate in Texas is sort of a misnomer because while some areas are cheap, many of the most desirable houses in Dallas County are quite expensive. $1m is nothing if you live in a more exclusive area. Unless you want to move so far North that you're essentially in Oklahoma, houses are not super cheap.
The taxes on a $500,000 house (which is really nothing great in a good area) would be right around $15,000/yr, so add another $1200/month to the mortgage. For some people, that's going to be a deal breaker. Most homes in Dallas County recently went up about 10% in taxable value and continue to go up yearly. And remember those taxes are never frozen and continue every year until you're retired or 60 years old, something like that.