It’s a long known fact that you get more bang for your buck in the suburbs when it comes to house hunting. The difference in price per square feet in Plano/Allen/McKinney vs. Lakewood/Turtle Creek/Uptown Dallas can pull an easy $50-$200 variance. And that’s attractive on many levels to home buyers, whether you have a growing family or not. It’s a huge investment and everyone wants a good deal.
With new home builders concentrating their development in the suburbs, where land is cheaper, new, low cost homes are plentiful. You actually do get a lot for your money in the ‘burbs, specifically in square footage
But there are hidden costs that you may not know about when you make the transition from urban to suburban living. The farther you live from your jobs, shopping, friends, family and entertainment, the more you will be spending on commuting. And the savings you anticipated are often evened out with transportation costs.
Depending on the area you buy in, it costs $3,500 to $7,000 more a year to live where homes are built farther from common services.
Check out the average commuting costs to Dallas:
- $296/mo for 10 miles ($3,550/yr)
- $442/mo for 20 miles ($5,300/yr)
- $588/mo for 30 miles ($7,050/yr)
The costs that can’t be calculated include the time you spend commuting. But don’t worry, your new home is so big you have plenty of space to stress out in 🙂 Too bad the time spent in the car or on the DART aren’t exactly quality.
So before you think the pie in the sky is that big beautiful home in the countryside, definitely calculate the costs that will sneak up on you. And if you need help budgeting and preparing for mortgage costs, let’s talk. Give me a call or fill out the contact form below and I’ll set up a time for a quick consultation.
Elaine Harper Real Estate 