Considering a move from CT to Austin.... (Cedar Park: apartments, renters)

[CTtoTX]

Hello-

I am considering moving from CT to Austin to attend grad school at St. Edwards. Anyone out there moved from CT to Austin before?? Can anyone recommend a safe place to live near St. Edwards?? I have heard a lot about this Mueller development....is it a nice place to live??

I would love any advice you feel would be helpful. A little about me...I am 28 yrs. old, single, and will be going to school for marriage and family therapy. I would be interested in buying a house/condo w/in the $100-$175,000 range.

Thanks for your tips!!!

[Trainwreck20]

At that price range and travelling to SEU, you would probably end up in South Austin. There are some good and some bad areas down there but also has a lot of potential. None of the areas are REALLY bad, I guess, but it all depends on what you are looking for. I think Mueller is probably out of that price range, but not sure, and it would be a little bit of a drive/bus ride.

[centralaustinite]

Why not rent? There are great rent houses and duplexes in south austin, Travis Heights, Bouldin, Sherwood Oaks that are just minutes from SEU. Plus newer apartments just south of SEU. And cheaper rental houses south of Ben White (still just minutes from campus). Save money, saves time, and you don't have to pay property tax!

[Trainwreck20]

Save money, saves time, and you don't have to pay property tax!

Actually, you are paying the property tax - it is just included in the rent . Renting is always an option, and probably a good one until you know the area yourself; however, if you do end up buying, that is an area with some long-term appreciation possibilities.....

[MJinAustin]

My hubby moved here from CT and won't go back. He's happy to get a long summer and not have to shovel snow. He's a summer person though and always hated that CT summers (the nice part) were only about 6-8 wks long. It took some adjusting, but he loves it down here now.

[centralaustinite]

Originally Posted by Trainwreck20

Actually, you are paying the property tax - it is just included in the rent . .

Okay, this is OT but rents in Austin have been stable or even declining, didn't Steve mention this recently about a property he rents in Cedar Park? My understanding is that rental properties in Austin rarely cashflow due to property tax, isn't usually the case that renters come out ahead because rents don't rise 10% per year but property taxes certainly do! Landlords can come out ahead long term if they are lucky due to appreciation but it is a gamble.

I had a house in south Austin that I had to rent for a year, the rent was below our costs! Not a fun situation.

[Trainwreck20]

From what I understand, the next 5 years or so will see a gradual increase in rental prices to parallel the national drop in home prices....if you can't buy a house, you will have to rent. Don't know if that will happen, but seems to make sense.....

[TexasHorseLady]

For those who think that the property tax isn't included in the rent, consider that ALL expenses of ANY business must be included in the cost, or the business will not be a business for very long. Property tax is an expense of the rental business, as is insurance, repairs, advertising for renters, etc. If it's spent on the property that you're renting out, it's a business expense.

Most people who are renting out their houses expect to at least break even. I don't know any who are in it for the joy of paying for part of someone else's living expenses.

[atxcio]

Along with what THL mentioned, property taxes being only a component of your total rent... Even IF they did go up 10%, that would only be a 10% increase in some percentage of the total expenses that make up the rent. So it wouldn't translate to a 10% increase in rent anyway.

Also, just because property values go up 10% in a year, that doesn't necessarily mean that a landlord's propert tax expense goes up. The rates vary year-to-year, and may go down if the property value increases bring in more than enough revenue. That's what happened last year -- my net property taxes actually went down, although the property values went up. City of Austin and AISD (and many of the other ISDs) lowered their rate.

Overall, though, I'd say renters have it pretty good in terms of monthly cost -- especially with SF homes, you can get much more for your buck right now renting. Whether the opportunity cost or the missed deductions matter will vary based on what you think the market will do and how much you make...

[CTtoTX]

Thanks for all your help!! I would most likely rent and then buy something down the road. Yes, the property tax there is a killer!! The overall cost of living is still 10x's less than CT. Thanks again for your help....keep it comin'!!