Whether you’ve heard the news about the new Apple campus or just have to deal with the constant traffic on the Mopac loop, it’s no secret that Austin is growing at an exponential rate. While that might mean a longer line at your favorite taco joint, it also provides a fantastic opportunity to invest in real estate.
Why Invest in Texas Real Estate?
When done properly, real estate is an excellent way to make continuous, passive income—especially in Texas. Here are just a few reasons why Austin is a prime real estate investment:
- Population Growth. As we’ve mentioned, Austin is gaining new residents every day. New apartments and condos are popping up just about everywhere, and the housing real estate is swinging in a seller’s market. But if it’s a seller’s market, why should you buy? A seller’s market simply means that the demand for real estate is high, and, as the population grows, it’s only going to get higher. Buying in now means a sound investment for years to come, which leads us to the next reason.
- Appreciation. Unlike buying a new car, purchasing property doesn’t depreciate over time. In fact, if you plan on renting the property out, it can build appreciation as time goes on. Paired with an expert property management team, your property can provide enough income to pay for upgrades while still returning on your investment.
- Property Variety. Austin is a unique city in many ways, but one of the benefits of keeping Austin weird means that there’s a huge amount of property options. Whether you’re looking to invest in luxury apartments, condos, or houses, you can find the exact real estate you want anywhere in the city. In fact, you can purchase multiple properties across town to maximize your investment.
Austin’s booming economy isn’t showing any signs of slowing down. By investing in real estate now, you can ride the growing wave while making a profit the whole way up.
How Successful Are Real Estate Investments?
While real estate isn’t a cheap investment, it’s almost always a great way to generate continuous, passive income that increases over time. If you invest more up front, you can expect more ROI that increases more quickly over time. Of course, spending so much money at once can be daunting, which is why we recommend purchasing through an investment property manager (especially one that will waive the first year’s leasing fee!).
Whether you just want a little advice or are looking to purchase multiple properties at once, it’s always a good idea to consult the experts. A full-fledged real estate company is always preferable over a single person, as they have the expertise of a full team at their disposal. Plus, with Austin Luxury Realty, you know the leads, advice, and properties are top tier.
Where to Buy Investment Property in Austin?
The actual location of your investment property will depend on what you’d like to do with it. If you want prime real estate for luxury condos, Downtown Austin will always deliver. For house rentals or single-family units, look for a home between the parks and schools of West Lake or Cedar Park. As more tech companies settle in North Austin, The Domain is a perfect location for apartment rentals.
Essentially, no matter what kind of property you’re looking for, you have options in Austin. It may be overwhelming to navigate the market on your own, so be sure to contact professional real estate for expert advice.