Over the past few years, more people have moved to Texas than any other state and for many, have been surprised at the high cost of property taxes compared to the state they just left. Our property taxes may be higher but Texas does not have a state income tax and is one of only seven states with no personal income tax. In addition homestead exemptions can reduce a portion of the property tax which will help to lower the overall cost of home ownership.
To truly understand the cost of a home, the consumer must not focus on price alone. The price of a home only represents a portion of its overall cost. Property taxes, homeowner association fees, and school district taxes can vary in each sub market. A home that cost $10,000 more than a home a few blocks away with the exact same loan could actually have a lower monthly payment because of the overall tax rate, HOA dues etc. In addition the maintenance cost of a new home vs. a resale home can also impact the cost of the home as well. Older homes, depending on the age, may not be as energy efficient and the cost of replacing old worn out items can add up quickly.
If you are new to the Austin market and thinking of purchasing a new home, now is the time to take a look atPacesetter Homes. Pacesetter Homes is building new homes in 12 neighborhood from San Marcos to Liberty Hill. From small to acreage home sites Pacesetter Homes are priced from the mid $100 to the $400′s. To make home shopping easy Pacesetter Homes has a New Home Concierge to provide information about each neighborhood and the available homes. Visit Pacesetter Homes or call 512-323-6420.