You know the saying: “I wasn’t born in Texas, but I got here as fast as I could!” Everyone seems to be turning to Texas for many reasons. This explains the state’s population of almost 28 million, and counting! The state of Texas is rapidly growing in numbers due to the steady economy it maintains. It is estimated that by the year 2040, the Texas population will have hit 45 million. Where are we fitting all these people? With Texas being the largest state in the continental United States, it has the clear advantage in land space. The Lone Star state builds an average of 125,000 homes per year, placing the housing market as 3rd best in the country.
The cities of San Antonio, Dallas, Austin, and Houston can all be found on Forbes’ list of Top 10 Best Real Estate Markets in America. Homes in North Texas are in such high demand that houses rarely sit on the market for more than a week. If you tour through the DFW suburbs, you will see the countless subdivisions being built in an attempt to accommodate the seemingly endless need for homes.
If you are an out-of-state resident, looking to invest in Texas real estate, you will have definitely made a wise business decision. Texas offers great benefits for out-of-state property investors. Benefits include:
- No state income tax (applies to individuals and corporations);
- Landlord friendly real estate laws;
- Encouraging business-oriented environments; and
- A relatively quick foreclosure process
As you can see, Texas advocates growth. Its landlord and owner-friendly laws would surely work in your favor. In an article written by authors Ali Anari and Mark G. Dotzour, titled “9 reasons to Invest in Texas” lists the following:
- Texas leading nation in economic recovery
- Texas’ economy is big and getting better
- Texas’ economy is profitable
- Texas’ population is growing
- Texas’ economy is international
- Tax burden is less in Texas
- Texas has affordable housing
- Texans have entrepreneurial spirit
- Texans are mobile
Texans have managed to find a balance between business and home lifestyles. The state consists of a perfect mix of both, making it feasible for everyone. Whether you’re looking to reside in Texas or simply invest, the Lone Star state is suitable for you.
Whether you are looking to relocate to Texas or invest in the Texas real estate market, contact The Farah Law Firm, P.C. The attorneys at The Farah Law Firm, P.C. have the expertise to assist you in finding the most ideal location for your desired aspirations. We’re here to make your Texas experience a good one!