If you’re moving to Texas and struggling to decide between renting and buying: you’re not alone! Texas has surprisingly affordable housing, and there are plenty of plots available if you wanted to build your own home: yet renting seems to be calling louder to most people.
Here are the top reasons why renting an apartment in Texas is a fantastic idea!
No Income Tax to Pay Off
The best part about moving to Texas is that you don’t have to pay income tax to the state! This could save you 5% to 10% of your income every pay period, instead of having to see it vanish into taxes. This is especially awesome if you’re a freelancer or contract worker because it means it’s less money you’ll have to save to pay upfront at the beginning of the next year.
You can Save for Property
Saving up to buy land is a fantastic way to use the money you’ll save while renting. Although you’ll still have to pour money into your rent every month, you won’t have to pay for a lot of things that homeowners deal with while you save. This means you can get a home that’s affordable to you, wait until the market has calmed down, and then pounce when the time is right. This type of thinking eliminates the chance of ending up house-poor.
The Housing Market is Wild Right Now
The housing market in Texas is wild right now! Homes are flying off the market the moment they go up for sale, and many are struggling to get a bid in on anything. Luckily with apartments for rent in Austin, TX, you don’t have to worry about getting into a bidding war over an apartment. This will save you from a lot of the stress of the housing market and allow for you to wait until it switches back to a buyers’ market eventually.
No Need to do Repairs Yourself
Repairing and updating a home may sound rewarding, but it’s financially and physically draining. When you rent, you don’t have to worry about taking on any of this work yourself. Instead, you can put your time and energy into making your space comfortable and spending your money on things you want to. While a homeowner may stress over replacing a broken water heater, a renter can rest easy, knowing that this isn’t a cost that will affect them.
Texas Industries are Rapidly Growing
Most industries in Texas are growing at a breakneck speed! There are more jobs available than ever, the pay is increasing, and many employers are scrambling to create competitive packages that will make employees flock to them. Although nobody dreams of their ideal type of labor, finding a good job and getting to live comfortably by renting in Texas can make it worth it.
Texas has many personalities and incredible people, and by renting in this state, you’ll get to become a part of the rapidly moving future.