People are moving to Texas. It’s one of the fastest growing populations in the nation. Here are a few reasons to buy real estate in Texas.
Texas has one of the fastest growing populations in the United States. The state currently has over 28.3 million residents.
However, population growth is not only a result of Texans having babies. There are also plenty of people moving to Texas. With over 400 million people moving to Texas in 2017 alone, and many more projected for 2018, the population boom doesn’t show any signs of slowing.
So why are so many people buying up real estate in Texas? Keep reading to find out!
1. There Is No State Income Tax
One of the most important reasons why people are moving to Texas is because of the absence of any state income tax.
Instead of generating revenue through income tax, it generates it through property taxes. This makes Texas one of seven states in the U.S. in which residents are not required to pay state income tax.
Even though some homeowners complain about the disproportionate income generated by the state through property, the overall tax burden on individuals in Texas is much lower than other states.
Furthermore, there are also a bunch of tax incentives for start-ups and small businesses to relocate to Texas.
2. Real Seasons
Many people are buying real estate in Texas for the weather. No, it’s not hot and sunny all year. Texas is one of the few states in the U.S. where you can enjoy each season for real.
Do you like the autumnal colors of fall? Do you like snowy and cold winters? Do you like seeing the flowers bloom in spring?
Whatever you like, Texas has it.
If you want tropical heat, move to the south. If you want breath-taking mountains and miles of desert, move west. For wetlands and bayous, move to the East of Texas, while the north is where you’ll find fields of green.
Where you buy real estate in Texas probably depends on which kind of climate you’ll looking for.
3. The Strong Housing Market
When the housing market bubble burst in 2007-2009, Texas weathered the storm pretty well. This is because of the stricter rules in the state regarding renting.
As an investor looking for real estate in Texas, you’ll find there’s something for everyone. From stable class B and C multifamily communities in secondary markets to contemporary class A apartments among the hustle and bustle of the big cities.
If you’re not interested in purchasing existing real estate, but instead, you want to build your own new apartment community, there’s plenty of opportunities to do this as well. There’s plenty of land to build on and a healthy construction industry.
Perhaps most importantly, the pleasant climate and lack of bureaucracy means that you can build faster and more cost-effeciently than in other areas of the country.
4. Diverse and Family-Friendly
Most of the people seeking a move to Texas are young families. And you can certainly see why!
With no state income tax and affordable housing, this is especially attractive for young families and couples wanting to settle down. The influx of families has created a family-friendly feel across the state.
You’ll also find that Texas is a tolerant and diverse location. This has resulted in thriving multicultural communities throughout the state.
5. Vibrant City Life
Did you know that six of the twenty largest cities in all of the United States is in Texas?
First of all, there’s Austin, which is the fastest growing city in the United States. Then there’s also, Dallas, which is famous for its oil and cotton. Of course, there’s also the city of Houston, known as the ‘Space City’ for its links with NASA.
In addition to these global cities, there’s also Fort Worth, San Antonio, and El Paso, all of which have much to boast about. In Texas apartment investing, we find many investment opportunities in secondary and tertiary markets often overlooked by others. With the right due diligence and a careful investment strategy, there is money to be made if one knows where to find the deals. And, we do.
But it’s not just about the diverse and vibrant cities of Texas that are attracting people from all over the world. But also, the affordable lifestyle that has made Texas one of the top destinations for job seekers and renters.
6. Successful Sports Teams
Are you a huge sports fan? Texans and their sports are legendary. Football is a religion in Texas. Friday night football is a social event throughout the state and has been featured in numerous movies.
The Houston Astros made Texans proud last year when they won one of the most thrilling World Series of all time. So, we like our baseball, too.
Many people who relocate to Texas want to follow sports teams and feel a sense of pride about their teams and their state.
Even though football is undoubtedly the most popular and successful sport in Texas, there are many other successful teams and sports in the state.
Whether your favorite sport is NBA, MLB or American Hockey League, Texas has a sport for everyone to enjoy. This type of vibrant enthusiasm makes a great community that people really love. Tying in fan loyalty to apartment community events is an excellent way to build long-term relationships with residents.
7. Outstanding Food Culture
Are you a foodie? When thinking about where to invest, consider that foodies are multicultural, diverse and make great apartment residents, and they’re just downright fun. Whether you want to invest in Texas and manage through an apartment management company, such as Better World Properties LLC or if you want to travel to Texas periodically to check on your investments, and you are foodie, Texas is definitely the state for you.
Home to some of the most outstanding food in the entire country, Texas has a great reputation for fine restaurants and great food culture. In many ways, it’s the home of America’s favorite foods.
Whether you’re looking for authentic Tex Mex cuisine, food truck gourmet tacos for breakfast, Gulf Coast seafood, or sweet mesquite BBQ, Texas has it all.
Invest in Real Estate in Texas
Are you thinking of buying real estate in Texas? This is an excellent time to make a sound investment for your future. Texas is a place to relocate with a young family.
These families need homes. And, what better than place to live than your apartment community? Are you ready to invest in apartments or add to your existing multifamily portfolio?
Would you like to learn more about investing in Texan real estate? Give us a call today!
Better yet, come visit! We’ll gladly show you around, share some Texas. We love nothing more than Texas BBQ and to talk apartments.