Looking for the best place to invest in real estate? Not sure where to go? How about Texas? Texas has always been so good for real estate and is the perfect place for an investment. The cities with the fastest-growing population are in Texas. Few of the many cities that are recommended for Texas real estate are Houston, San Antonio, Austin, Dallas, and Forth Worth. The number of people moving into Texas is far beyond any other state in the United States. This immense growth in population is what makes Texas such a great place for real estate. Below are a few reasons why so many people decide to move to Texas.
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Jobs
Four of the top ten metropolitan areas for job growth in 2013 are in Texas. Texas has plenty of high-paying jobs and opportunities for university graduates. The employment rate in Texas increases every year. This is why many people of different generations are all attracted to Texas. “The unconventional oil and gas boom has helped turn Texas into an economic juggernaut,” said Joel Kotkin, Professor of Urban Development at Chapman University in Orange, California.
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Low tax
In Texas, residents pay no personal state income tax. Only five states had a lower individual tax burden than Texas, according to Tax Foundation research. This kind of tax break alone is an incentive to relocate to Texas.
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Homes
Land is cheaper in Texas and the process of land acquisition is very efficient. Dr. Ali Anari, a research economist at the Real Estate Center at Texas A&M University explained, “There is an abundant supply of land and fewer regulations and more friendly government, generally a much better business attitude here than other states.” This is what helped protect the state from the recent housing market crash.
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Big cities
Texas has six of the country’s 20 biggest cities. This is why so many people are moving to Texas – it has a wide variety of things to do, job opportunities, and entertainment . These big cities have provided people interested in Texas real estate with many options and chances to thrive in the real estate market.
Related: Texas Real Estate Investing: The Best Areas
Texas real estate not only attracts new residents but also new investors. This state carries many real estate opportunities. The vast number of population increases the demand for housing and property and it offers great benefits for out of state property investors. Those who are interested in Texas real estate gain a lot since in that state there is no state income tax for people or corporations. Also it is landlord and owner friendly and is a pro-business environment. Another important feature of Texas is fast foreclosures which is especially important if you are an owner financial property investor. According to Forbes, 4 of its Top 10 Best Buy Cities in 2015 for real estate were in Texas.
Sexiest Cities
1. Austin
Of course, Austin! For out of state investors they must understand the Texas real estate clearly. The population growth in Texas is 8.9% so this high rate demands for more housing. This massive population growth drives house prices higher. Market investors reap the benefits of increasing populations because this means more real estate investment opportunities for them.
2. Houston
This city is great for those wanting to invest Texas real estate. Houston has a business-friendly environment, no state income tax for people or corporations and a very educated population. Houston also has strong growth in jobs, a booming population and low housing prices. The housing market in Houston is still undervalued, so if you are looking for under market value property to invest in, Huston is your city!
3. Dallas
The population of Dallas is growing at least 6% per year. It also has a job growth rate of 3%, and this is being driven by a boom in high tech companies. Investors are gaining a lot due to the strong appreciation in prices and high rents.
Related: Top 5 Areas for Dallas Investment Properties
4. San Antonio
San Antonio has been listed on several top housing market lists. This is why. Prices are low, even with the economic boom. The average home price here is $189,000. Booming economy, with the biggest growth in construction employment. Strong job outlook, with a 3.5% job growth rate. Growing population. This means strong demand for owner finance and rental properties.
Related: Why You Should Be Investing in San Antonio Real Estate
At the end of the day, many people are scared to invest in real estate for many reasons. Whether it’s because they are worried to lose their money or are not sure how to start, these fears are all natural. Yet the success to any great real estate investment is to begin in the right location. A location that has many opportunities for investing in real estate. Texas real estate is somewhat of a go-to choice for many investors. The state’s growing population and diverse range of cities makes it perfect for investing. You have to start somewhere and Texas is just the place!
