Why Should I Buy a House in Texas?
Texas is attracting people. Its population is one of the fastest-growing in the country. In 2020, over 15% of houses sold were to out-of-state buyers! There’s no denying it, people are flocking from all over to experience what Texas has to offer. From the strong job market to the low cost of living, to the diverse culture, the list goes on. There are endless reasons people are making Texas their new home. Read on to learn more about why you should buy a house in Texas!
Strong & Diverse Job Market
The state's booming economy, which creates more than 1,000 jobs a day, makes it easy to find a job in Texas. Although the state's unemployment rate remains below the national average, many of those jobs pay well above average. Something you may not know about is all of the huge companies that have recently moved to Texas, including Charles Schwab, Oracle, Hewlett Packard Enterprise, CBRE, NRG Energy, AECOM, Tesla, and Apple!
The diversity in the job market is astounding, and there is sure to be something for everyone. The fastest-growing industry sectors are information technology, engineering, healthcare manufacturing/construction, education, business, oil and gas services, financial services, aerospace, and real estate. A recent statistic by the Texas Workforce Commission also states that Texas added 62,800 total nonagricultural jobs in April 2022, marking the sixth consecutive month of job growth!
Low Cost of Living
You will find that your hard-earned money stretches further in Texas, all thanks to s cost of living that is 8% lower than the national average (and 15th lowest in the nation!) You can expect to enjoy a higher standard of living in Texas, thanks to strong wages and lower prices for groceries.
People from out-of-state may be pleasantly surprised to find out that there is no personal income tax in Texas, which is just another reason their money may go further. This is definitely an incentive that attracts people to the great state. Nevertheless, Texas relies on property taxes, which can vary from 1% to 3.5% of tax appraised value, set by each county. There are also exemptions that can lower property taxes, such as those for agriculture, your primary residence, over 65 years old, disabled veterans, and widows.
Vibrant & Diverse Culture
The rich, thriving culture of Texas is largely due to its diverse population. There are 145 languages spoken in Houston itself, and the state of Texas as a whole has the second most racial and cultural diversity in the country (right behind California.) This proves that the typical Texas stereotypes of horseback-riding-country folk couldn’t be further from the truth!
Attractions & Activities
Whether you are a sports fanatic, an outdoor enthusiast, or a total foodie, you won’t find yourself searching to stay busy and entertained in Texas. From the Texas Longhorns to the Houston Astros, to the Dallas Mavericks, fans take their sports seriously here and there’s always a team to root for.
There are also endless outdoor activities to stay busy year-round. There is no shortage of destinations for hiking, biking, horseback riding, and outdoor dining. Whether you have a family with children or are seeking the singles scene, there is more than enough for everyone in any given town or city.
Ready to Make the Move?
We could go on forever about what makes the Lone Star state so great, but you will just have to see it for yourself! Our team of real estate professionals with 316 Realty Group are equipped and ready to assist you in every step of your move. You might be interested to know that we actually helped over 100 west coast families move to Texas in 2021!
In order to assist clients moving to Texas, we offer a seamless concierge service. Our goal is to make the transition to Texas as smooth as possible. Reach out to our team today so we can share with you all we have to offer. It is our passion to assist you in every way we can!
