With a growth rate of about 2.5% and a population of nearly 2 million people, Austin, Texas, was one of the fastest growing cities in America as of five years ago. Whether you are looking to relocate and/or purchase rental property, Austin is a great place to buy. However, if you’re not convinced that you should take steps toward a real estate closing Austin TX, take the following points into consideration.
The economy in Austin is very strong for being highly diversified. A number of top employers in the technology sector have their bases of operation there. Unemployment rates are low, and job growth percentages are high.
- Investment Opportunities
With the job market in Austin being so strong, people are flocking there. The demand for residential rentals is already high and likely to increase over time. This means that purchasing rental property for leasing out to others could provide a significant return on investment.
Along with a handful of other states, Texas does not impose any state income tax. This can have a significantly positive influence on your personal income and make it easier to cope with your annual filing to the IRS.
- Higher Education
Austin is home to some of the most reputable universities in the country. This is valuable to you if you are looking to better yourself by earning a new degree. However, it may be of even greater value to you if you seek to purchase investment property because all those college students are likely to be looking for a place to rent over the school year, and sometimes the summer as well.
In addition to these economic reasons for buying property in Austin, it is also a great place to live. A visit to the Texas state capital prior to your purchase will demonstrate to you that it boasts a unique culture and a deep history.