Why Investing in Houston is a Smart Play
They say everything is bigger in Texas and nothing exemplifies this sentiment better than the opportunities within the real estate market, specifically Houston.
A sprawling metropolis that is flirting with the 7 million in population mark, Houston, TX has not only a want but a need for real estate development.
As the population continues to fill the city of Houston, the demand for more real estate options will only grow to meet the needs of the market.
With Houston’s cost of living being much lower than comparable cities and an established position as a relentless economic strength, this city is a destination for those seeking greener pastures all over the country.
Investing in Houston, whether this is through rental homes or a slew of apartment units/complexes, is a substantial component of any investment portfolio.
Are you from out of town, yet considering an investment in Houston’s thriving real estate market?
Our guide will help navigate some of the many benefits that come with investing in the Houston real estate market and how to do so successfully.
Purchasing Homes in Houston, TX is Cheaper Than Many Major Cities
Home prices in the Houston metro area are some of the best in the entire country, which means there is a smaller cost of entry when investing.
In fact, with the average cost of a home in the U.S. running around $269,000 according to Advisor Perspectives and the same study showing an average home in the Houston metro area going for $244,000, we can see there is a clear financial advantage to investing in the Houston market.
Taking advantage of these lower prices has become common practice for investors in states where real estate investment takes far more capital such as New York or California. Instead of purchasing a single home for $1 million, investors have the opportunity to diversify and buy several, creating various revenue streams and helping solidify and protect their capital
What good is owning a rental property if you have no one to rent it?
The Houston area is home to a massive, growing population; however, a concern for most investors will be the state of the economy to support such a massive amount of residents.
In 2019, Houston, TX reported its lowest unemployment rate, 3.7%, in a decade. While this is on par with the national average rate of unemployment, an interesting component of the Houston economy is obvious: Houston’s ability to sustain its population by adding over 80,000 jobs.
With current and future business developments and investments continuing in the city with the second most Fortune 500 companies in the country, Houston is the perfect place to consider investing in real estate due to its strong economic outlook.
But the resilience of Houston’s economy doesn’t stop after normal conditions subside.
Despite a quick dip in its economy following the devastating events of Hurricane Harvey, Houston has shown very little negative economic impact from the storm, and the economy is looking as strong as ever.
Houston Provides Investors With Diversification
When it comes to Houston, real estate investors have a variety to choose from when investing in a rental property.
By almost any measure, Houston presents a variety of options for investors to choose from:
- Property types. Investors are granted plenty of options ranging from quiet suburban neighborhoods to inner loop condos. Whether you are looking for a higher-end home in an exclusive neighborhood or a row of condos in an up and coming section of the city, you have options.
- Houston has something for all income levels and situations. Whether you are a multimillionaire or moving out on your own for the first time, Houston has a wide variety of rentals available for any income level. Choose your market as an investor and rest assured that there are a variety of markets that have a need for your specific property.
If you can dream it, the Houston Metro area has it in terms of real estate and a network of reliable, professional real estate agents that help locate renters and position property owners with the right candidates for their investment.
The Key to Investing in Houston is the Right Management
Understanding the nuances of the Houston marketplace can never truly be fully translated inside of an article.
In a city like Houston, TX, real estate opportunities are abundant and are as diverse as the wonderful people who make up this city. Managing the day-to-day aspects of a rental property as well as keeping up with the various real estate climates can be overwhelming for many investors that live outside of the city.
Key Realtors is the property management people can count on in the Houston metro area to maximize their investments. Our comprehensive property management services ensure that your properties are marketed to the right tenants and maintained to the highest of standards. We work with landlords and investors to maintain properties all over the city of Houston and our Realtors are prepared and with experience and tools to set your property up for success.
Contact us today and see how our real estate property management team will help your investment reach its full potential.