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Know Housing Trends In Texas To Make Your Best Choice

by Marquette Turner Luxury Homes

in Features, Real Estate Radar, Variety

A Good Housing “Climate”
What’s a good “climate” in terms of weather? Is it some tropical atmosphere so humid you can chew the air, or some dry frozen desert where it never gets above forty degrees on the Fahrenheit scale? Firstly, different climates fit different people. What some consider “good”, others consider “bad”. Secondly, the “best” climate tends to be in the “middle”.

You don’t want to sweat just by breathing as is necessary in some Amazonian jungle, but you don’t want to freeze to death, either. That’s why people love the climate in California and Hawaii near the coasts. You can expect a Fahrenheit spread of about forty to ninety degrees, averaging between sixty and eighty, and comfortable year-round.

Dallas Texas Skyline Dusk - Marquette Turner Luxury Homes

The housing market is similar to trends in weather. Hot or cold, those in the know prosper; and for the majority of home buyers, something in the middle between the extremes is best. “Humid” housing bubbles are just too uncomfortable for many, while “chilly” busts pull the asset rug out from under people. Texas right now has a very “temperate” housing climate.

Texas Considerations
The market in Texas isn’t “too hot”, or “too cold”, as it were. You might just say the state is in the “Goldilocks Zone” of housing. In August, Texas saw a 1% home-sale increase, breaking the record with 30,421 sales. Interest rates are falling, and homes stay on the market for about 59 days on average.

Demand is “temperate”, though “supply” is low. That said, the forecast looks good in terms of home inventories for the future. Though there is expense involved in home ownership presently, expansions throughout the state in terms of both national and economic interests are facilitating demand. You can read more about the present state of the market here.

In a nutshell, the weather in Texas right now isn’t perfect, but it’s more favorable than negative, making purchase of a home strategically worthwhile. The property’s value, if purchased in the right neighborhood at the right price, is primed for expansion, yielding long-term profit. Ideally, of course; no one knows the future.

Strategic Property Management
Since housing prices are jumping, many are following tiny home trends, or pursuing mobile lifestyles which utilize motorhomes, fifth-wheel trailers, or tiny homes that can be moved. Additionally, there are many shared-living situations, and aspiring landlords are mortgaging properties then renting out space in them to acquire “Passive Income Generators”, or “PIGs”.

Part of your strategy if you’re looking to buy a home for you and your family may involve finding a balanced property in terms of price and profitability potential. Varying utility expenses may help you get an idea of the best available choices, as this cost will be recurrent. To get an idea of costs, see TexasElectricityPlans’ comparison on their site.

Cottage - Marquette Turner Luxury Homes

Keep in mind, there are multiple ways to buy, manage, and sell property. As an example, you might buy a home for you and your family, then invest in the DIY construction of a tiny home in a backyard with alley access. Do it right, and you’ve got a single-serving “apartment” you can rent at a monthly rate. The largest tiny homes are 500 square feet. That’s an apartment.

Cutting A Thirty-Year Mortgage In Three
You can charge $500 to $1,500 a month for a 500-square tiny home. You can build it for as little as $2k or as much as $50k. If you’re looking to do something worth $1,500 a month, you might invest a bit. Do it right, landscape, provide a parking spot, hook up utilities, and rent at $1,500, you can spend $18k building it and see your money back by year’s end.

From there, you’ll potentially be able to get $18k a year you can put against your mortgage. For a property of $180k, you’ll have it paid off inside 12 years, including the tiny home’s acquisition and build.

You can then sell both properties at a profit and turn the money into a better home, or stay where you are. Regardless, Texas has options, potential, and stability. If you’re looking to move, this is a state that has a lot going for it, and a very “temperate” housing market.

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