juggernaut wrote:I don't know what taxes are like where you're from but you might be surprised how high Texas taxes are. The mortgage payments on a $200k house might be $12k to $15k per year, with property taxes adding another $4k to $6k per year, especially in the suburbs. Half that is usually ISD taxes in the suburbs and you said you don't have children yet, so you could be paying $20k in school taxes before your first child starts school.
I'm born and raised Texan but spent a few years in California. When all is said and done, what I saved in property taxes in California vs. Texas, I spent in State income tax. It was pretty much a wash....taxes are taxes and I either spent $4,000 in state income tax in CA or I now pay about the same in property taxes here.
T.
and a wise person will include property taxes when comparing the costs and benefits of renting vs buying. I have friends who were surprised when the tax bill came and it was a lot higher than the 1% or so they paid in another state. Better for our Hoosier friend to know in advance.
