Search within the city
Overview
Texas (also called Lone Star State) occupies the south-central area, sharing borders with Louisiana, Arkansas, Oklahoma, and New Mexico. With almost 30 million residents and about 270,000 sq mi, it’s the 2nd-largest state in the U.S.
This vast state is famous for its cowboy spirit, pioneer history, and Tex-Mex cuisine. In addition to the oil industry in Dallas, it’s also known for the healthcare and aerospace industries in Houston – the most populous city in Texas.
Other well-known cities are Austin (the capital city of Texas), Fort Worth (once a famous cattle town), and San Antonio (the 2nd-most populous city). They all offer a wide range of job and entertainment opportunities to residents. Keep reading to learn about housing opportunities in Texas.
Buying a House in Texas
Homebuyers have plenty of options in Texas. Over 200,00 homes sold per year. Home sales tend to increase across the state, including Beaumont, Texarkana, Montgomery County, Abilene, Corpus Christi, and Kerrville.
Despite this increase, overall property availability in Texas has decreased a bit. The sales price averages $253,500, while the median home price increased to $198,500.
At $291,300, the median price of homes is the highest in Collin County. Wichita Falls, on the other hand, features the lowest home median price at $104,000.
A home is an expensive investment. Assuming that your financial situation is good, you need to consider housing-market economics in Texas. However, if you don’t have enough money to buy your dream home, you should look for alternative options like rent-to-own homes.
Popular Neighborhoods
Whether you want to live in a scenic rural place or a busy cosmopolitan area, Texas has something for you. San Antonio, Houston, Austin, Dallas, Corpus Christi, and Fort Worth entice house hunters looking for properties in larger cities.
Some of the most attractive neighborhoods of San Antonio are located in Mariachi Mass, River Walk, and Alamo. University Hills and North Loop are very popular with young professionals and families alike.
The Dallas–Fort Worth metroplex includes numerous popular suburbs and attractive neighborhoods like Frisco, McKinney West, and Plano. If you plan to relocate to Houston, we recommend that you look for homes in neighborhoods such as the Washington Corridor, Kingwood, River Oaks, and Greater Third Ward.
Rent to Own vs Buying
The rent-to-own homes are gaining in popularity in Texas. That’s because those homes allow low-income tenants to get into the homes of their dreams right after signing the contract. While this sounds great, you should understand the rent-to-own process before entering into any agreement.
Basically, these agreements involve paying rent until the moment of purchase. There’s more to renting-to-own than this, though. Here are key steps you need to go through during the rent-to-own process:
- Finding a rent-to-own home that suits your needs and budget;
- Drafting a rent-to-own contract with the seller;
- Reviewing the rent-to-own agreement before signing anything;
- Getting the property appraisal and inspection;
- Paying the option fee or option money (a one-time fee for the option to terminate the contract – it’s usually 1% of the sale price);
- Make the monthly payments throughout the lease period;
- Applying for a home loan or shopping for a mortgage on the home.
In a nutshell, a rent-to-own home is a property bought through a contract where a portion of monthly payments goes towards decreasing the home price during the rental period. Make sure the monthly rents are set before signing a contract.
Once the lease expires – it usually happens after three or five years – the renter has an option to buy the home and become a homeowner. If the real estate market crashes back, you will end up owning a home that is worth much below the purchase price.
Living Expenses in Texas
The overall cost of living in Texas is approximately 10% below the U.S. average. Temple, Round Rock, Denton, and Corpus Christi are the most affordable cities. Thesalaries are high and the living expenses are low.
Texans save on nearly every category of living expenses in comparison with people who live in other states. When it comes to housing costs, residents spend around 20% less than citizens in other states.
Food is 11% more affordable, while utilities are about 4% lower than the U.S. average. Healthcare and transportation costs are roughly 3% lower than the national average.
Conclusion
With wide-open spaces, well-respected universities, and thriving industry, Texas is a state that more and more people call home. It is appreciated for its pioneer history, innovative spirit, ample resources, Tex-Mex cuisine, and skilled workforce among other things.
Furthermore, Texas is considered to be one of the best states for future job and business growth. That makes it extremely popular with businesses, job seekers, and young professions. Affordable housing and cost of living make Texas attractive to house hunters too.
Rent to Own Realtors in Texas
Don’t scour the web or local neighborhood for rent-to-own realtors. You may be eager to learn more and enter into an agreement quickly, but it’s best not to rush into it. Remember that realtors work for commission.
Since homebuyers can take up to 3 years (or more) to buy a property under a rent-to-own contract, realtors don’t profit immediately. Keep in mind that the deal isn’t worth their effort and time. Our Texas renting listing will help you find a perfect rent-to-own home without access to realtors.
About Our Rent-to-Own Listings
When renting to own, you actually make yourself a better candidate for buying a property. It allows you to save up a down payment and improve your credit score, thereby qualifying with the bank for the home you are interested in.
However, you should find a rent-to-own home first. Check out free listings for the most popular cities in Texas. Hopefully, this will help you find a home that perfectly suits your needs.
Reported Annual Crime In Texas
| Statistic | Utah | National |
|---|---|---|
| Violent crime | 4,373 | 370,388 |
| Murder | 66 | 19,131 |
| Rape | 1,399 | 86,726 |
| Robbery | 1,027 | 152,431 |
| Assault | 3,370 | 277,038 |
| Property crime | 16,779 | 1,216,038 |
| Burglary | 6,219 | 468,957 |
| Theft | 14,148 | 1,063,593 |
| Motor vehicle | 4,594 | 301,970 |
| Arson | 145 | 32,898 |