Why is Buying Land a Good Investment?

Investing in and purchasing land can be a difficult concept to understand. Most people have never given much thought to this concept. You might be wondering, "Is buying land a good investment?"

People aren't always willing to think outside the box with their money. You don’t always need to follow the lead of tv personalities, flipping houses, and doing outrageous home renovations. They make it look so easy, but no one is really talking about why land is a great investment.

Let’s go over some reasons why land is a wise investment!

Land Provides a Sense of Security

Land in its natural condition will always be valuable! There really is no extra effort required of you when owning a piece of land. Think of it this way, there is no renovating for you to do, no maintenance for you to take care of, you just own it.

The key to investing in land is to buy a property that can be improved one day. Whether you are holding onto the land for yourself, plan to pass it down to your family, or plan to sell in the future, it is a good idea for the land to be suitable for building on. 

Land is a Limited Resource

Land is a valuable and limited resource. There is no endless supply of land, and no one is making any more of it! As the population of the USA grows, the cost of land and availability of land will increase as well. 

Land is Tangible

No matter what the world decides about money tomorrow, land will continue to have value. Unlike stocks and shares, land doesn't disappear. 

Land is a tangible and physical item that belongs to you, regardless of the economic climate worldwide. Although the value of money and currency may fluctuate, ownership never does.

Land Value Increases

According to the most fundamental economic principle (supply and demand), raw land will inevitably increase in value as demand for the limited asset grows. Rather than asking whether land will appreciate, the question now is how much it will appreciate.

If you do your research to make sure the land you are purchasing is in a path of growth, future developers may find it very attractive. You could eventually make some easy profit selling it way beyond what you paid for it. 

Land is Less Competitive

While most people out there invest in condos, housing units, and house flipping, it’s not as common to buy a piece of land. As we mentioned at the beginning, today's TV shows have glamourized house flipping and it seems everyone wants to try their hand at it. 

In this case, taking the road less traveled can definitely work in your favor. 

Bottom Line

You may think investing in land is only for the wealthy population, but it can really be for anyone. It can provide you with a sense of security, it is a limited resource, it is tangible, its value increases over time, and it is a less competitive route to take. 

At 316 Realty Group, we are more than happy to assist you in finding land on any budget. If you want to learn more about buying land for yourself or simply for investment, contact us today! We would love to help you.

How to Maximize Profit When Selling Your Home

Getting your home sold is stressful and tedious, and if we’re being honest, no one wants to be in that situation any longer than necessary. Fortunately, there are actions you can take to get into and out of the selling process swiftly and profitably at the closing table. 

The profits from your sale could be rolled into your new house, or fun another investment, so either way, it's worth making the effort to maximize profit! Keep reading to find out some ways you can maximize profit when selling your home!

Make Cost-Effective Improvements & Repairs

When it comes to the decision of where to put money into upgrades, keep in mind the kitchen and bathrooms are normally the most used rooms in the house. Dirty and outdated fixtures and colors are sure to turn away buyers and cause them to look elsewhere. Shopping for inexpensive but up-to-date fixtures and hardware will work in your favor and make your home stand out.

Keeping paint natural and consistent throughout the home is also another way to make your home more desirable and helps buyers envision their belongings in the space as well. 

Don’t forget that working on your curb appeal and some simple landscaping will go a long way, too!

Clean & Declutter

You want your home to be seen in its best light. Before showings begin, take the time to remove all clutter and unnecessary belongings from rooms, and organize to show off all the space your home has to offer. 

Pay attention to baseboards, vents, appliances, fans, and light futures, and give them a good cleaning to ensure they are free of dust and debris. 

Avoid Overpricing

This is where one of our professionals at 316 Realty Group will use their expertise. You may be biased because it's your home, but one of our agents will perform a CMA (Comparative Market Analysis) to help them estimate the value of your home, taking into account similar homes in the area. 

You must avoid setting your initial asking price too high in hopes of trying to get more than it's worth. Even in a seller's market like today, selling your home higher above the fair market value can lead it to sit on the market for much longer. Even pricing slightly below market value can attract more attention, and multiple offers give you more negotiating power.

You can count on having your home priced correctly and competitively with one of our knowledgeable agents. 

Choose the Right Time

Usually, the months in Spring are deemed the greatest time to sell, but this does not guarantee that it will be the best time to sell in your market. Buyer demand is influenced by factors such as school timetables, vacation buyers, and the weather.

To get the maximum money when selling your home, most importantly sell when you have enough equity to pay off your current mortgage, the fees of selling, and the costs of moving. Otherwise, you'll have to pay for many of these expenses yourself.

Final Thoughts

Among all of the actions you can take to maximize profit when selling your home, the most important by far is having a knowledgeable real estate professional who you like and trust to be on your side. Their expertise is indispensable when it comes to pricing, negotiating, marketing, and beyond. Contact us today at 316 Realty Group so we can work together!

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!