Dallas Real Estate Investing
The Dallas Housing Market is booming and to invest in Dallas in 2019 is considered as the best decision by seasoned rental property investors. Cities like Dallas have seen residential exodus characteristics with both domestic and international immigration. The Big D’s home prices have been skyrocketing with home owners and renters improving their desirability to the Dallas’ urban neighborhoods full of Millennials.
Should You Invest In Dallas Real Estate?
You should invest in Dallas investment properties because of its favorable business climate and Texas’ low taxes are pulling in innovative companies that strengthen the city’s economic diversity. New York may have been the city that never sleeps with several cultural attractions, fashion icons and trendsetting architectural designs but it’s been falling behind recently. Now Dallas has taken over as the hot destination for savvy and new real estate investors. Since 2010, about 100 firms have moved into DFW from other states, including Toyota North America from California and Topgolf from Illinois.
11 Reasons to Invest in The Dallas Real Estate Market
Here are some of the Dallas housing market predictions 2019 which provide ample reasons to invest in the Dallas housing market.
1. Booming Economy of Dallas
With the influx of new investors, the city has seen a much more diversified economic reach, making it the number one reason to invest in the Dallas Real Estate Market. Located in Texas and traditionally known for the oil business, the modern Metropolis has seen its economy grow stronger than before. This can be attributed to sectors like education, technology and communications that has made it impossible for investors with steady incomes to purchase residential properties.
Renters now have access to a range of property. From cheap apartments to luxurious condors, home owners have readily available markets in the real estate business. Innovation is global, so being connected to the rest of the world is more important than ever. Dallas-Fort Worth International Airport’s 210 nonstop destinations include 56 foreign cities.
2. Population Growth
Closely related with the 4% annual growing economy over the recent past, Dallas registered a significant population growth. The city that had its roots in the small-scale farming sector was boosted by the oiling business to become an urban cultural and business center. The fast-uneven growth in the metro area as seen in Denton and Collin counties with new families have seen construction of new homes and new apartments.
Rent growth is expected to moderate to around 4 percent over the next three years, but ongoing increases likely will compel renters to begin considering other options. The is the second reason to invest in Dallas real estate in 2019.
3. Abundance of Land in Dallas
Construction companies in Dallas have made profits with the never-ending contracts on public and private land constructions. Investing in Dallas real estate could be a smart move since it’s located on the second largest state with abundance of land. With the current expansion rates, no one seems to be selling off their investment properties.
4. Growth of Airbnb
Another top reason to invest in the Dallas housing market is the enormous growth housing startups like Airbnb. Air bed and breakfast is an online based market for renting properties to guests. Foreigners have been able to receive accommodations through the platform which takes a 3% commission on the bookings. The rest goes to the home owner.
The platform has registered remarkable growth in Dallas area – an indication that most people require fast accommodation services. Vacation rental giant is on track to be a $200 million-a-year force in Texas, with Dallas among the cities leading the charge. Booked Airbnb listings in Dallas grew by 34 percent last year, according to data analyzed by the Dallas Business Journal. This could be a green flag to invest in Dallas housing market.
5. Low Cost of Living In Dallas
A strong economy is reflected with its low cost of living and high salaries. Financial stability among the Dallas residents could mean increased borrowing rates at financial institution with better chances of loan repayments. Higher mortgages have been registered in Dallas since most residents qualify for them due to their next to perfect credit scores. Moreover, the low living costs in Dallas make it possible to save up and buy property with cash. Families are attracted by the area’s relatively low cost of living (including taxes) and job opportunities.
6. Employment Creation
The growing city of Dallas has been ranked as the 2nd in job growth with over 500,000 jobs created in the recent past. More jobs equal remarkable investment decisions to choose from after obtaining that pay cheque. Among them is the Dallas housing market that has been on a rising trend. The big Dallas has even bested known metropolis cities like New York and Washington to offer more job opportunities – a clear indicator that you should consider to invest in Dallas real estate in 2019.
7. High Rent to Home Price Ratio
The ratio of residential rental to home prices in Dallas housing market stands at 16:1 – the highest ranked in the nation. Moreover, selling prices of constructed commercial property like industrial, retail and offices are above the normal rates. This ratio gives a rough estimate of the foreseeable future with all factors constant, a property’s return value can take only 16 years. With high occupancy rates, investing in Dallas housing market in 2019 could be a major investment success in the years to come.
8. Dallas Has Low Crime Risks Neighborhoods
With the low costs of living in Dallas, it would be ambiguous for the city to register high crime levels. However, there are minor cases of petty theft, aggravated assaults and cases of vandalism in Dallas. A good investment should be just about risk free. Safer neighborhoods attract more single family residents which can be good to the real estate market. Some of the best places to buy rental property in Dallas where crime rates are very low are Cockrell Hill, Frisco, Lochwood, Munger, Bryan Place, Allen, Campbell Green, Coppell, North Dallas, Farmers Market District and University Park.
9. Technology and Innovation in Dallas
According to a recent census, the population of Dallas mainly comprises of Latinos and immigrants. A greater proportion of this population consists of college graduates seeking to establish themselves in the competitive world. Moreover, low number of people retiring means that the small single families are subject to grow larger with time. This in turn is a good sign for the growth of single family rental homes in the Dallas housing market.
The youth may provide creative new ideas into the real estate businesses and other start-ups. Dallas has already established itself as a startup hub and is considered as one of the most high-tech cities in the world. Dallas boasts of rapid growth in the number of venture capitalists and integration of technology into the city landscape.
10. Invest In Dallas | Get Government Incentives
The State of Texas has worked hard to develop and sustain a business-friendly operating environment. State and local government provides tax incentives, financing assistance and an array of services to help companies establish or expand in Texas. The economic development plan of the City of Dallas, Strategic Engagement, was approved by Dallas City Council in 2005, updated in 2013, and continues to be relevant today.
ACHIEVING THE VISION. Strategically engaged in economic development, where government works with the business community to overcome obstacles to growth and markets itself locally, nationally and globally. This makes for one more strong reason to invest in Dallas, Texas.
11. The Dallas Housing Market Forecast 2019
According to Dallas News, sales trajectories indicate that the prices will continue to rise. However, this won’t be the same as last year. On the other hand, land value is always appreciating making real estate one of the wisest investment choices in Dallas Housing Market in 2019. Dallas is among those US cities where renting is more reasonable than buying.
One of the many reasons Dallas has been growing over the years is because young people have moved there and continue to do so, and the preferred starting out with rental properties before buying their own home. The demand for rental units has increased 14% over the last year, so it’s the perfect opportunity to invest in the Dallas Housing Market in 2019.
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*Remember, caveat emptor still applies when buying a property anywhere. The information contained in this article was pulled from third party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, the Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.