6 Surprising Costs When Moving to Texas
The cost of living and how it differs from where you reside is an important aspect of moving to Texas. However, living costs depend on needs by fashioning all the necessary essential and non-essential spending. The idea is to monitor your current expenses for the whole month to help you calculate your expenses for a month in your current residence. Then you can compare it with the cost of the price for the same item or service in Texas and see the difference. Unfortunately, some people move to Texas without sitting to meditate on their expenses which may leave them stranded in the city. Indeed, here are some surprising costs of moving to Texas.
1. Packing Supplies
Moving companies already packing supplies is the easiest way to relocate to a new state. But if you lack this help and decide to DIY, you will need tons of supplies to pack everything. For instance, a moving kit worth 150-200 dollars has a capacity of 50 to 60 boxes. These spaces are enough to hold the items from a two-bedroom house. Furthermore, hidden expenses include moving trucks, packing peanuts, and other essential supplies.
2. Moving Insurance
You'll need an insurance company to handle your valuables in Texas. The country makes it compulsory to purchase insurance. The insurance is to protect your items or family heirloom when moving. Generally, the cost of moving through an insurance company is 1%, although there are different policies, and some may cost more. However, a moving company may include this expense in their invoice, but if you are moving by yourself, you'll have to purchase it.
3. Toll Fees
Beware of toll fees. Toll fee is a common expense in Texas. The moving company charges extra in their invoice to cover this fee. But when moving on your own, you must keep it in mind. Texas has over 50 toll roads, and the fees depend on the road you're traveling, the time, the type of vehicle, and how many axles. You will have to pay extra if you don't remit your dues in time. Without the toll fee, you won't be able to move in the city, especially in their urban areas.
The good news is that Texas does not collect taxes on several things. That makes it a solid place to live as a retiree. However, there are many easy ways your finances can differ, which is why talking o a financial advisor will help. For example, the Lone Star State levies about 6.25% to 8.25% on sales and 20 cents per gallon for a gas tax. The state has no income tax but pays high taxes on property, up to 1.86%.
Texas has no ongoing fees when it comes to utilities. The state has many deregulations on utilities in many parts, like El Paso and San Antonio. Those in deregulated markets pay more utility bills compared to monopoly states. However, the deregulated market has many options and savvy deals to fit customers. The U.S. Energy Information Administration (EIA) states that Texas pays an average of 132.59 dollars on energy bills as of 2021, which is almost 10% higher than the general U.S average of 117.46 dollars.
Not everything is more expensive though which depends on where you are coming from. Some medical procedures, even without insurance can be much more affordable than in other larger cities and states. Gas and groceries are typically cheaper as well than in many states like Washington, California and New York. Housing is also much cheaper here than in many other states.
While I want you to love moving here, it is important to understand all the costs involved. Start searching the latest Frisco listings or call me today!
NTREIS data last updated September 23, 2023.