Known as a vibrant center for the arts and music, Austin, Texas is much more than a cultural hotspot. It is also a real estate hotspot with its high population growth rate and booming industries. To top it off, Austin is the state capital. This adds plenty of government and civilian jobs into an already exciting mix.
Reasons To Buy Real Estate in Austin
Austin is experiencing a growth spurt that doesn’t appear to be slowing any time soon. All those people moving into the city and its suburbs need housing and they need it now. Purchasing single family homes or multi-family apartments in other major metropolitan markets is too pricey for many investors, but Austin real estate is still affordable. With plenty of Austin property management companies to choose from, you can make sure your investment is well taken care of.
Particularly encouraging are the types of businesses that have been attracted to Austin and have chosen to build regional or national headquarters there. They are companies that are known for stability and longevity, such as Facebook, Dell, Apple, Oracle, Home Depot, IBM, and many others. With companies like these settling in Austin, you can have confidence that these jobs will stick around for a while and you will have a stable economic base for your investments.
Reasons To Invest in Residential Properties
Austin is a great location for residential real estate. It’s a growth market. Don’t limit your vision to apartments and affordable housing, however. There is a demand for luxury homes Austin, too. Tech execs and other established professionals often wish to rent when they first arrive in the city and are looking for rentals that appropriately reflect their position.
Reasons To Invest in Commercial Properties
As tech industries move into Austin, Google and Amazon are both planning second HQs there, the demand for space is booming. There is a 24 month wait for appropriate square footage for tech startups. If you have the money, building new tech office space is a great way to get into the market. Austin also has a high demand for restaurant and retail spaces. Buy a strip mall and you should be able to make great returns without significant risk.
With a lot of research and some good money down, you can invest in Austin real estate and it should perform well for you. Both the city and your investment are poised for growth.