by Laura Mueller
The Lone Star State is known for a lot of things, including great barbecue, live music, and of course, vast amounts of wide open land. Buyers who are interested in buying land in Texas have a lot of benefits on their side, especially those who intend to invest in agriculture, timber, or wildlife preservation. So if you’re still weighing your options, here are six reasons to take the leap and buy some Texas land.
1. Diversity of Topography
Texas has it all: mountains, lakes, arable fields, cities, burgeoning suburbs…. Simply put, whatever your intentions are with your land purchase, you should be able to find a plot that will allow you to do it.
2. Population is Booming
If you’re looking for Texas land as a residential or commercial developer, then you’re in luck. The state is the fastest growing in the entire nation, adding hundreds of thousands of new residents per year. That means a lot of opportunity for any land investor who wants to put their money into housing, commercial building, or other consumer-facing developments.
3. Tax Benefits
Texas land owners who use their properties for timber, wildlife preservation, or agriculture—including pasture and grazing land—are eligible to qualify for a property tax exemption courtesy of the state. Farming land in Texas also qualifies for a Schedule F exemption on federal income taxes, which allows land owners to write off expenses for things like interest and improvements on the land.
4. There’s a Lot of Space
Everything is bigger in Texas, and that often includes the size of available properties. Outside of the population heavy metro areas are expansive tracts of land that may be ideal if you’re interested in investing in certain types of land uses that necessitate lots of space, such as recreation or residential development.
5. Unique Financing Opportunities
Texas has a number of special lenders who are specifically dedicated to financing the purchase of the state’s rural land. While it’s not a guarantee, if you do your research and connect with the right local lender you may be able to enjoy financial incentives on rural Texas plots, such as lower interest rates and less money down.
6. Farmers are Welcome
Texas’ population may be growing, but its use of farm land isn’t. Between 1997 and 2012, the state lost more than one million acres of farm land to other uses. There’s a need for private buyers to invest in the state’s agricultural and ecological infrastructure, hence the tax and lending incentives associated with these pursuits. If you want to farm, you’ll find plenty of opportunity and encouragement to do so in Texas.
There’s a lot to love about the Lone Star State, and that goes double if you’re a land buyer. If you’re considering buying land in Texas, there are a lot of good reasons on your side to do so. As always, just be sure that you work with a qualified real estate agent who has experience working in the specific market you’re interested in. This way, you can be sure to get the best possible deal on the best possible piece of Texas property.
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