As interest rates continue to rise, many people are wondering what markets are good to invest in. The stock market is incredibly low right now and it’s hard to tell when it will improve. Investing in Texas real estate is a good decision right now. Texas laws are very friendly to real estate investors and there are some incredible markets to choose from, resulting in great profit potential.
Home values have risen about 24% over the past year. It is definitely a strong seller’s market.
Benefits of investing in Texas
The state of Texas offers outstanding real estate investing opportunities. There are many factors that play into this:
Texas is landlord-friendly
The state has a high demand for rental properties because of the state’s steady population growth
Texas offers a thriving economy and job diversity that result in reliable rental income
Housing prices are affordable
The state of Texas does not charge personal income tax
In less than a decade, the state population grew by 3.5 million, surpassing leaders of interstate migration, Florida and California.
Buying Land
Investing in rural land has become increasingly popular in the past few years and is considered a smart investment.
Location is important in every real estate investment. When thinking about rural properties, the location becomes especially important.
Brandon Bownds, a fifth-generation rancher and third-generation real estate broker, owns and operates Bownds Ranches in Utopia. “Texas is diverse—and beautiful,” Bownds said.
“Decide where you want to be, whether it’s the limestone of the Hill Country, the brush lands of South Texas, the thickets of the Piney Woods, the mountains of West Texas or somewhere in between.”
Bownds also noted that, the closer rural land is to a metropolitan area, the smaller the available parcels are—and the higher the price.
Rental Properties
Rental prices are soaring as well. Investing in a property to rent out on AirBnb or VRBO will provide a great return on investment rather quickly.
Home Builders
Many home builders took jobs in the past couple of years at low prices and now are unable to deliver the houses on time. Some builders are backed up 1-2 years on build times as a result of this. Customers of ours have run into this frustrating issue.
Crew and material shortages have not affected our company and we are happy to offer a guaranteed 16 week turnaround time one every one of our cabin homes.
Conclusion
Real estate continues to be the safest investment you can get into right now. With people still moving to Texas in large numbers, the state and its economy continue to grow.
Areas in Texas have high economic growth and the demand for housing remains good.