The Lone Star State, Texas, is one of the most vibrant states in the US. No other place comes close to the diversity and culture that makes up Texas. This state is the epitome of everything the South has to offer. It is rich in celebrating its southern heritage and isn’t afraid to flaunt it. So, whether you love the glamorous life of Houston, enjoy the immense city charm that makes up Dallas, or relish the quirky culture in Austin, you will find a spot for yourself. But these factors alone are not what makes Texas exciting; what truly makes this state lies in its real estate market.
If you take a gander at the housing market trends of Texas, you will notice that the past decade has been fruitful for the Lone Star State. Following the numbers illustrated, the housing process has skyrocketed to an astonishing 212%, equating to an appreciation of 5.10%. Therefore, given these details and the fact that Texas is a real estate haven, here are some reasons why you need to invest here:
1. It is A Secure and Safe Investment
Texas is a big state, which means you have numerous options in real estate. One of the most popular regions located in Central Texas is the Texas Hill Country. The Hill Country is known for its rolling hills, lush vegetation, and abundant wildlife, making it a great place for nature lovers. So, if you’re a nature enthusiast and want to buy a property or become a proud ranch owner, you can do that here.
Since the land is so fertile and profitable, you can easily find various Texas Hill Country Land and Ranches for Sale and invest your money into one of these assets. Buying a place in the Texas Hill Country has two main privileges. If you buy a ranch, these assets never lose value because they are a limited resource. So with time, your ranch’s resale value will grow even if you don’t develop your property much and sell it ahead with minimal renovation. On the other hand, if you buy land here, you will be eligible for wildlife, agricultural, and timber tax exemptions, consequently lowering your yearly property taxes. Hence, no matter your choice, it’s a win for all.
2. Texas Has an Affordable Cost of Living
One of the reasons why most investors look at Texas is the incredible housing market the Lone Star State possesses. According to the Council for Community and Economic Research, the cost of living in Texas is roughly 5% lower than the national average. As a result, Texas is one of the least expensive states to live in the US.
There are many reasons for this; for once, Texas has ample land. This means space is always available to construct new buildings without crowding older areas. The land acquisition costs are also low, meaning you can quickly get a house in Texas for a lower price. The state also has a relaxed building regulation system; this entails that builders don’t need to apply for various permits and codes to construct houses; instead, they need a few basic codes and are good to go.
3. Texas Has No State Income Tax
Texas is one of the nine states in the US without an income tax. This makes investing here all worthwhile. There’s nothing more aggravating than dealing with income state taxes, significantly when it cuts down your paycheck by tenfold.
The reason why Texas charges no income taxes is because the Texas Constitution forbids personal income taxes. If you have a large family, they will immensely benefit from this relaxation since you can now channel your hard earning into looking after your family without losing a penny towards income taxes.
4. Texas Has A Booming Job Market
Think about it this way, why would you invest in a place with a collapsing job market? Fortunately, Texas is quite the opposite. Places like Austin, Houston, San Antonio, and Dallas are some of the best cities for people looking for jobs.
Since it is constantly expanding, evolving, and introducing new industries into the mix. If you become a tech expert and choose to work in Austin, you can easily create a lifestyle that rivals that of the Bay Area, except at an affordable cost.
In short, Texas allows you to secure an excellent job and affordable house, setting you up for life.
5. Texas Has A Steady Growing Population and Requires More Properties
Texas has a population of more than 30 million residents, making it the second-largest state in the US, both by area and population. This population growth isn’t slowing down anytime soon, as more people are moving to Texas and starting a life in the Lone Star State. Affordable housing, booming businesses, and growth in the job market is incentive enough for people to leave their old lives behind and shift to Texas.
For this reason, if you’re interested in acquiring real estate and soon turn it into a rental property, Texas is the best place to try your luck. Families will always be looking for a place to stay, so purchasing several properties will only spell a massive success for you.
Choosing a state to invest your money in is a challenging feat. The last thing you would want is for your investment to backfire and put you through immense loss. Hence, you can never go wrong with putting your money in Texas regarding real estate.
This beautiful state is vibrant in many ways – whether you want to join the working community or be a homeowner. On top of that, it has an illustrious real estate market, making it a treat to invest your money in. So whether you want to convert your property into a rental space, purchase a forever home for your family or invest money in Texas, you can do it all in Texas.