With 2019 ending on an improvement when compared to 2018, there are quite a few positive turns ahead for investors in regards to real estate in Texas. Between a lower mortgage rate and bolstering housing demand, the stage is set for those who are willing to make the most out of their investments.
So what exactly can you do to benefit from your Texas real estate investment? From selling to renting out, here are a few ways you can take advantage of the current market conditions.
Now is the Best Time to Sell in Dallas
As observed in 2019, the housing demand in Dallas has remained consistent with the overall growth in jobs and the economy. But this consistency hasn’t had much effect on the price, which is improving at a noticeably slower pace as compared to 2018.
This suggests that the housing market is cooling off in the area. Due to this, prices have more chances to stay stagnant than improve at an exponential pace. But any changes in the economy can also directly affect these prices and lead them to drop from the value they have maintained so far.
Since even the slightest price drop can dampen your expectations during a sale, it is important that you take these possible changes into account. This is especially relevant if you would rather liquidate your investment now than wait for slow price changes over the next year or two.
Look Into Investing in Rentals on High Growth Areas
Another tip for a viable Texas real estate investment is to put your money towards rental properties in high growth areas. These zones include but are not limited to Dallas, Houston, and Arlington.
With increased housing demands that correlate with a slow yet steady growth in the economy, looking into apartments and subdividing properties is a good idea. It can help you cater to renters who are not looking to become homeowners, either by choice or due to the constraints of affordability. This is a great choice to manage your investment if you are not looking to liquidate, and would rather place your bets on a price increase in the long run.
Don’t Sell in Slower Markets
Areas such as San Antonio and Austin do not show a big leap in housing demand, but they still have a way to provide you with significant gains from your Texas real estate investment. Unlike the cool off period in Dallas which can show a price drop at any moment, these slower markets will likely not get affected negatively by changes in high growth areas. The prices here have not yet peaked and have potential to grow over time.
With this in mind, make sure that you do not sell your property in these relatively low-profile markets. Instead, look into making the most out of your investment by subdividing and flipping before renting your property.
© 2022 Real Helpers All rights reserved.