As of today, it looks like we're probably going to stay in Dallas. We have been running the numbers constantly, nonstop for the past few weeks. Mike and I have talked more in the past few weeks than we've talked in our 5+ relationship... well, not really, but pretty darn close to it.
We've even found a house in Austin we've put an offer on. We had decided on Falconhead West. The house will be complete in October time frame...
After running numbers, even though the cost of living calculators show Austin is less expensive than Dallas, it's really not. To get a comparable home to what we have currently, we will have to pay about $120k more. Plus, our current interest rate is 5.375%. We would probably get something like 6.5-6.75% to close in October, if the Fed doesn't drop rates before then.
Then, our current tax rate is about 2.1%. Most of Austin has rates about 2.67%. Falconhead West actually has the lowest tax rate of only 1.98% but with the price of home being significantly higher, the taxes are a wash.
Anyway, no matter how we ran the numbers, it would cost about $10k more a year to live in Austin than to continue to live in Dallas.... Mike has asked for a raise in order to move. That will probably be denied. If it's denied, we're staying in Dallas. We won't know for a few weeks because they're going to try to sucker someone else into going first.
It's still a waiting game...
**Pictures coutesy of the Falconhead website.