buying land texas

Getting the money to buy land in Texas is a hurdle for many. The good news is that land in Texas is quite affordable. Rates from one area to another vary, but broadly speaking, buying land is a viable investment that is much more affordable than buying or constructing commercial buildings.

Other than the rolling hills, green fields, and majestic mountains, there are 7 good reasons why you should buy land in Texas:

1) PROPERTY TAX EXEMPTIONS

When you buy land in Texas, you may qualify for a wildlife or an agricultural and timber exemption. These exemptions can reduce your annual property taxes by thousands. The exemptions are given for land used for agriculture, such as for pasture and grazing land, timberland, and wildlife preservation. 

2) WRITING OFF EXPENSES

Another financial advantage of buying land in Texas is that you can file a Schedule F in your federal income taxes. This is for those who use their land for farming. With Schedule F, you can write off expenses accrued through farming, including interest on a loan taken out to purchase your land. Additionally, if you build on your property, you may be able to claim the interest on the construction loan in your federal income taxes.

3) YOU CAN GET UTILITIES

Whether you want to build a house or use your land for recreation, you can get utilities on your land. You will need to find out who the local utility provider(s)  in your area are and contact the company to ask them for an estimate. To get water on a remote property, you will most likely need to drill a well. 

4) YOU CAN INVEST AND MAKE MONEY OFF YOUR LAND

Perhaps you want to buy land in Texas with the purpose of starting a business. You will find there are a number of businesses you can get into ranging from opening an inn or B&B with hunting grounds to setting up a camping ground. 

5) FREEDOM TO DEVELOP

Real estate developments in cities and metropolitan areas are often controlled. This is not the case with developments on raw land in Texas. You will only need to get approval from the local authorities like the county subdivision and surrounding municipalities governing the area.

6) FINANCING

Most people are not in a position to raise the money needed to buy land with one payment. Those looking to buy raw land also face a challenge because banks and other conventional lenders do not understand this market. One reason is that they don’t have ways to accurately determine the value of land as it is.

If you are looking to buy land in Texas, you can borrow from lenders who specifically finance the purchase and development of rural land in Texas. Some of the financing companies are land owners and farmers who understand the needs and challenges of those who are looking to buy land and engage in agribusiness.

7) VERY AFFORDABLE RATES

Getting the money to buy land in Texas is a hurdle for many. The good news is that land in Texas is quite affordable. Rates from one area to another vary, but broadly speaking, buying land is a viable investment that is much more affordable than buying or constructing commercial buildings.

UNCOMPLICATED, AFFORDABLE AND FINANCED LAND PURCHASING IN WEST TEXAS

If you are looking to purchase land in the Texas Panhandle, take a look at our current Land and Farm & Ranch Listings.

Lifestyle CRE is Not Just for Millennials

As any commercial real estate professional will tell you, the industry has been witness to a number of changes, being subject to the impacts of the economy, industry trends, market challenges, and more. When looking at commercial real estate, it is crucial to focus not only on generational activity, but also lifestyle trends. 

Obviously, Baby Boomers are the driving force behind a number of changes shaping the CRE landscape today. As these consumers are aging, they are paying close attention to where they will live – and where they will retire. The option to age in place is pushing a huge shift in the traditional retirement community space – readily impacting the commercial development business. 

Another huge trend in CRE, or lifestyle CRE, is taking shape, effectively changing the CRE landscape today. And while this shift has been touted as a Millennial trend, it’s actually anything but just Millennials who are behind this change. 

Today’s consumers are paying close attention to where they will work and its relation to where the live. But what difference does this make? This focus impacts everything from transportation to how they will choose to spend their leisure time. Today’s residents are enjoying this new style of live-work-play lifestyle – and their purchase habits reflect that. 

This trend doesn’t necessarily just represent people working from home anymore; rather, it encompasses people who choose to live, work, and play – all within a relatively small geographical footprint. Developer Christopher Brown told Multifamily Executive, “The reality of working these days is that, because of the technology, you can do it from anywhere, and people are actually doing just that. That holds for all demographics, age 18 to 85, whoever is still working.” 

A recent Gallup poll reported that more than 40% of the workforce spend at least part of their time working remotely, a marked increase from even just a few years prior. And this is just the type of lifestyle that today’s workforce is looking for. Brown goes on to reference a particular client who was in the market to downsize. “He’s the epitome of what we’re seeing today – someone who wants to downsize from his royal lifestyle, forget the car, and walk down the block to his office. We are actively pursuing tenants right now to do shared office space, because that’s the trend that’s really transforming everything.” 

While the idea of your entire life revolving around a small geographical area is certainly nothing new (after all, think about what people did before automobiles were as prevalent as they are today), it definitely hasn’t been the norm for quite some time. However, this trend is rapidly reemerging to meet consumer demands and better fit their lifestyle. People no longer work the standard 9 to 5 job or punch a timecard. In fact, that hasn’t existed in quite some time – and today’s real estate trends are proof that people are living and working differently. 

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Article Source: https://www.cbcworldwide.com/blog/lifestylecreisnotjustformillennials