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Why are housing costs so much lower in Texas than Louisiana
Posted on 5/15/17 at 7:53 am
Posted on 5/15/17 at 7:53 am
Specifically areas around Houston. In the Kingwood area you can buy a house twice the size as one in Southwest La for the same price. Is it because there is some much more available labor there or are materials cheaper? What causes such a different in value?
27
Posted on 5/15/17 at 7:54 am to eyepooted
Won't be that way for much longer hahaha. I cry to sleep every night I shop in DFW market.
Posted on 5/15/17 at 7:55 am to eyepooted
quote:
What causes such a different in value?
Less White people per square mile in Texas causes the housing market to deflate in price....
Posted on 5/15/17 at 7:56 am to eyepooted
Because property taxes are high in Texas.
Posted on 5/15/17 at 7:56 am to eyepooted
quote:
you can buy a house twice the size as one in Southwest La
That's called a double wide.
Posted on 5/15/17 at 7:58 am to 50_Tiger
quote:
Won't be that way for much longer hahaha. I cry to sleep every night I shop in DFW market.
I'm looking at the possibility of relocating from Indiana to Richardson here in the next year or so. Are prices out of control there? I haven't looked at real estate yet.
Posted on 5/15/17 at 8:00 am to eyepooted
Mexican labor
Posted on 5/15/17 at 8:00 am to eyepooted
quote:
Specifically areas around Houston. In the Kingwood area you can buy a house twice the size as one in Southwest La for the same price.
What it takes to drive Houston form 20 miles out (kingwood is 31 miles) to your office from your house in roughly 30 to an hour, would take you 3 years in Louisiana.
I have a fraction of my commute now than when I worked in Baton Rouge and Fridays in BR it often took the same amount of time it takes me to get home
the property taxes in Texas will give you heart burn
This post was edited on 5/15/17 at 8:04 am
Posted on 5/15/17 at 8:00 am to TigerFanatic99
Just depends on what you want but anything in North/Far North Dallas has risen easily 25-50k over the last 3 years.
Posted on 5/15/17 at 8:00 am to eyepooted
The price per sq foot may be less but the taxes will eat your lunch.
My property tax bill for this year is nearly 10k.
Adds another $800 + a month to your escrow
My property tax bill for this year is nearly 10k.
Adds another $800 + a month to your escrow
Posted on 5/15/17 at 8:01 am to The Torch
quote:
The price per sq foot may be less but the taxes will eat your lunch.
My property tax bill for this year is nearly 10k.
Adds another $800 + a month to your escrow
This is essentially what's stopping me from buying at this point.
I already pay in rent what I would pay in a mortgage. It's the property tax bill that makes me cringe.
Posted on 5/15/17 at 8:10 am to eyepooted
Property taxes are out of control. Only thing keeping me from buying. I don't feel bad renting and living 5 minutes from my office when I hear about co-worker's commutes and property tax bills every month.
Posted on 5/15/17 at 8:11 am to eyepooted
Houston area has a lot of new construction and lots of land that can be developed, so I would think that factors into keeping housing price down.
Posted on 5/15/17 at 8:12 am to 50_Tiger
I didn't know there was such a large gap in Property Taxes. Great insight
Posted on 5/15/17 at 8:12 am to eyepooted
quote:
Why are housing costs so much lower in Texas than Louisiana
Specifically areas around Houston.
quote:
Mexican labor
This^^
Posted on 5/15/17 at 8:17 am to eyepooted
In Ascension Parish, new housing construction is going for $180 - $185 per sq. ft. in very desirable areas to live in.
Existing structures are getting $150 - $160 per sq. ft. - again in very desirable areas to live in.
I imagine land and the abundance of it greatly favors Texas along with labor cost that more than likely should be cheaper than Louisiana.
Property taxes are the one negative, but that is easily made up with no state income taxes for Texas.
In Louisiana, we have state income taxes plus the highest sales tax in the nation, along with property taxes and for the most part, shitty schools, infrastructure and roads.
But the politicians have made out like a bandit here, so there's that.
Existing structures are getting $150 - $160 per sq. ft. - again in very desirable areas to live in.
I imagine land and the abundance of it greatly favors Texas along with labor cost that more than likely should be cheaper than Louisiana.
Property taxes are the one negative, but that is easily made up with no state income taxes for Texas.
In Louisiana, we have state income taxes plus the highest sales tax in the nation, along with property taxes and for the most part, shitty schools, infrastructure and roads.
But the politicians have made out like a bandit here, so there's that.
This post was edited on 5/15/17 at 8:19 am
Posted on 5/15/17 at 8:18 am to The Torch
quote:
My property tax bill for this year is nearly 10k.
Offset by not having a state income tax and not having to pay for private school.
Even having to deal with a $10k property tax bill instead of my current $1500 tax bill, it would be about a net wash for me. The $3500 I'd save in state income tax and $5500 in Catholic school tuition would make up for the property tax difference.
Posted on 5/15/17 at 8:18 am to TigerFanatic99
quote:
I'm looking at the possibility of relocating from Indiana to Richardson here in the next year or so. Are prices out of control there? I haven't looked at real estate yet.
Yes. We bought our current house about 3 years ago and it went up in value per zillow 95K (this is in Southlake) . While that is good, Tarrant county is killing us in property taxes. We might sell again and move to Argyle or even Denton to get lower property taxes
Posted on 5/15/17 at 8:24 am to MEANGREEN65
quote:
Mexican labor
this is the only answer
Posted on 5/15/17 at 8:26 am to CunningLinguist
quote:
We might sell again and move to Argyle or even Denton to get lower property taxes
I know 2 families who did just that (Argyle).
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