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Home › Forums › Housing › What is the equivalent home in San Diego to this $158k home in Austin? › OK here are a couple points

January 10, 2011 at 11:54 AM #651334
sdrealtor
Participant

OK here are a couple points to consider looking at buy vs. rent

The rent for that house in Austin is perhaps $1200/month.

http://www.rentjungle.com/austin-apartments-and-houses-for-rent/cla:30.3955669/clo:-97.6432418/minbeds:3/maxbeds:3/house:1/

In San Carlos a house like that would run you $350 to 400K. It would also run you about $2,000/month to rent. That extra $800 a month would pay the interest on close to $200K worth of mortgage. Making the apples to apples comparison closer to 325K for the Austin house.

I dont know much about taxes in Texas but from what I have heard the taxes on that Austin house would be about $4 to 5K/year. Feel free to correct me if I am wrong. The taxes on a house like that in San Carlos would be about $4K so there is a slight advantage here also (assuming my TX # is correct).

So forget about all the horrible insect life in Texas, the nieghbors, the flat terrain, the hot humid weather with big a/c bills, the location a couple days drive from the ocean and you still arent seeing much a of a “real “price differential when you really get down to it.