Texas has been a hotspot for real estate purchases in recent years. The state has the most rural land available, the best value for the price of land, and unlimited potential for its land to be developed further. There are tens of thousands of real estate options available in the state and enthusiasm for purchasing those properties has done nothing but rise. There are a lot of opportunities in land for sale in Texas.
In this article, we’ll go over the main benefits of purchasing land in Texas.
It’s Inexpensive And Low Interest
The land is exceptionally inexpensive in Texas. In fact, it’s just slightly over one grand per acre and it has been that way for decades with only very slight increases in price. The average real estate investor spends around five hundred thousand dollars for property in Texas.
That might seem expensive, but the land has a variety of lucrative uses and can create income fairly easily. Beyond using it for developmental reasons, the price increases make it a low-risk investment to buy land in bulk in Texas. The price has steadily risen in small increments since the early 1970s without stopping. Any land purchases made today are very likely to see a profitable return if sold later on in the future.
It’s Home To A Diverse Ecosystem
Texas has a massive amount of sought-after game animals and game fish. The hunting and fishing in the state make it a prime spot for developing recreational get-aways with high payouts. Popular game animals like whitetail deer, doves, hogs, turkeys, and quail are all abundant in Texas. This makes an excellent spot to develop a recreational hunting reserve that brings in revenue, or even just a spot to privately hunt. There is also a wide variety of commonly sought after game fish, such as bass, salmon, walleye, and trout to capitalize on.
The Farmland Is Lucrative
Farming is one of the main sources of revenue for Texas. Cotton, feed crops, and cattle are major agricultural resources in the state and there’s plenty of land to start up a farming venture without spending as much as it would cost in other states. Texas also offers agricultural tax cuts to those who use their land for particular agricultural reasons such as those listed above. This can lead to major tax cuts and lucrative business ventures when done properly.
With farmland being so inexpensive and extremely lucrative, the amount of investors purchasing farmland in Texas has risen considerably. The many recreational uses of the inexpensive land have also lead to more enthusiasm surrounding rural land in Texas. This ties in with the claim mentioned above that purchases made now will lead to profitable returns in the future.
There Is An Abundance Of Freedom
When you try to buy land in urban areas, the land is controlled to an undesirable degree. With rural land in Texas, the rules for what you can do with your newly acquired property are a lot more relaxed. If you want to start a business in rural Texas, it’s as simple as acquiring the necessary licenses and receiving approval from the local government. Zoning laws and restrictions are a lot less strict in rural areas. This leads to there being a lot less hassle involved when starting a business.
There also many tax breaks available for business owners in rural Texas due to state laws. If you work to preserve wildlife and agricultural land with your property, there are tax exemptions that will save you thousands of dollars every single year.
You can also claim tax exemptions on purchases made to maintain your farmland. Costs involved with buying farming equipment, loans for farm-related purchases, and even the interest on any construction loans that you acquire can be tax exempt. This equates to tens of thousands of dollars saved annually.
Texas Is A Hot Spot For Real Estate Investment
Texas has had a steadily rising real estate industry for decades. There are a lot of reasons to purchase real estate in Texas. Reasons that were covered in the above paragraphs. However, the state has an extremely diverse real estate market and investment opportunities. For more information, you can read this Forbes article.