I was under the impression that housing was relatively cheap in Texas. $417,000 does not seem cheap!
It seems like the math works for higher expenses vs smaller commuting costs (it'll save you almost $6k/yr with 5 days/wk * 50 wks/yr * 30 miles/day *$0.5/mile and $2k toll costs).
I'd do it. Maybe not this house specifically, but the area seems better cost wise because of commuting costs. Any way you could get even closer so you could bike?
Thanks for the reply. See comment below.
I was under the impression that housing was relatively cheap in Texas. $417,000 does not seem cheap!
DFW housing (and Austin area) without a ridiculous commute is not cheap. But lots of people are willing to drive. And chances are $417k isn't a modest house, but a nice McMansion with granite countertops. But it can sometimes be hard to find houses that are not- because that is the way development went.
Thank you for chiming in iowajes.
You are exactly right. If I wanted to live 15 minutes from my job, I would be looking at $750k to $1MM home.
You are also correct that it is a decent McMansion, however, it also comes with land, which is a RARITY down here for this price. It's very "futureproof" and we would have no reason to ever move honestly.
Slight correction to the commute. It would cut my commute from 33 miles to 16.9 miles. It would drop my wife's from 38 miles to 20 miles as well as drop $9.50 toll per day. She works 5 days a week now, but will drop to 3 days down the road. so $200 savings a month now, $120 savings a month later.
I would cut 3 hours a week off the road every week and be able to spend all of that time with my wife and hopefully child(ren) down the road.
Also, to disclose, I'm not a diehard MMM. Something in the middle. Care more about FI.