Are you looking for the best place to invest your money and watch it steadily grow? Look no further than the real estate market in Dallas, Texas. There are many reasons why buying property in Dallas is one of the smartest moves you can make, but here are the top seven that you need to know.
Quality homes for bargain prices. The median price for new homes in the Dallas real estate market is about $285,000, and the quality of home you get for that price is worlds above what you can find in other metropolitan areas in the country. You can pay a reasonable price to own a home that renters will be eager to live in.
Home values are on the rise. Over the past year home prices are up 8.7% in Dallas, and they are projected to keep right on rising. Home price gains here are the third highest in the U.S., and growth is expected to continue steadily for the next 10 years and more.
Business is booming in Dallas. There are thousands of companies creating headquarters locations in Dallas, and even more building outposts in the area. This is because it has become a business hub due to the excellent economic outlook. This is contributing to rising property values and higher housing demand.
Job growth is on the rise. Having become a central hub of business, employment opportunities in this area are excellent. Job growth is over 100,000 a year, and that alone means a growth in housing demand of over 50,000 a year. This makes buying properties in Dallas an excellent option.
The population is soaring. Between the increased business and job growth, people can't flock to Dallas fast enough. The population is already over 6 million people, and will potentially rise to 8 million over the next 5 years. Many of these people will be looking for places to live, and smart investors will have the answer.
The people can afford the rent. The median income in Dallas is $43,865, and the number of incomes is growing steadily with the population. At this level most people will be looking to rent homes rather than buy. Between the excellent location and the high demand for homes, investment properties here can potentially bring in a tidy and reliable profit in rents.
There's plenty of room to grow. Texas geography makes expanding convenient and desirable, which contributes to the fast growth of the area. The area around Dallas can't fill up with new homes fast enough to meet the demand, so the value of homes in this area can only go up.
These reasons are excellent reasons to invest your money in Dallas real estate, and when you consult with a professional you will learn even more about how buying property in Dallas will suit your personal situation. The best way to find the most valuable properties at the right prices is to work with a talented agent, so contact an HFMA agent today to gain immediate access to expert advice.