The great state of Texas is famous for a number of things most notably its enchanting landscapes, live music scene, promising economic prospects, and of course, the glorious Blue Bell ice cream! Aside from that Texas, and more specifically, Austin, has a thriving real estate market that is attracting buyers from all around the US. If you are looking to relocate to Austin or are merely seeking a viable investment opportunity, here are five reasons to buy a home in Austin:
Austin has a wide variety of beautiful neighborhoods that are ideal for families to thrive. Rollingwood, Barton Hills, West Lake Hills are some of the most sought-after places for families. Their proximity to downtown Austin makes them ideal for commuters who work in the city but desire a quieter life at home. If you enjoy taking in the scenic hillside areas or being close to top-rated schools like the Leander ISD schools, Avery Ranch is an ideal choice.
Skyrocketing Market Prices
As of January 2018, the annual median price of an average-size family home was just about $300,000. This translates to 5.4% growth from the previous year. It appears that the recent overhaul of the nation’s tax plan and natural disasters like Hurricane Harvey had no adverse impact on Austin’s real estate market. Furthermore, real estate experts are optimistic that 2018 will be yet another record-breaking year for real estate and home sellers will rake in healthy profits in real estate deals. Investors who wish to expand their investment portfolio can find an Austin realty company to break down the numbers.
In recent years, Austin has experienced a thrust in economic opportunities as evidenced by the creation of jobs to cater to its burgeoning population. This growth is attributed to the rise of tourism and technology companies thus opening up the job market by a significant measure. Previously, the city’s economy was mainly driven by government and university jobs which meant excluding a sizeable chunk of the homegrown workforce. With such a promising economic outlook, it is no wonder that more graduates are returning to work in the tech industry.
Presently, the city of Austin has the 31st largest population within the country standing at 947, 890 as of 2016. The population is projected to grow even further and surpass neighboring cities like San Antonio that has 1.4 million residents, by 2020. This growth will outpace the current infrastructure thus launching development projects in education, utilities, and transportation sectors. Moreover, there will a deficiency of inventory and this will position homeowners to reap huge profits from listings.
On a broader scale, the state of Texas is enjoying an economic boom which makes the entire state more attractive for investors. San Antonio has a huge military presence and the tourism sector is becoming more important than the traditional oil economy. Ultimately, the city of Austin is becoming a hotbed for sound investments and these will start yielding fruit soon enough. A real estate boom is imminent and this will elevate the city to more economic prosperity.