Oh, Austin — it seems like there’s always something new happening in the Capital city, and that’s probably because there is!
Not only is Austin home to some kind of festival or event just about every week (ACL and Formula 1 just ended, the Austin Film Festival and Texas Book Festival are right around the corner, and before we know it spring will be blowing SXSW in) making Austin a hub for visitors (around 27.4 MILLION each year and growing!) but business is booming too!
Business seems to be moving to Texas in droves, as well. There’s no personal state income tax, and there’s growth in many industries like technology, clean energy, and advanced manufacturing.
We have headquarters for Whole Foods and Dell, YETI and National Instruments. Many major companies also have regional offices, particularly in tech. These are the “Silicon Hills” after all. There’s IBM, Apple, Samsung, 3M… the list goes on and on.
In addition to this, many companies are moving to Austin – or expanding if they’re already here! In the last two months alone, over 1,300 jobs were created due to these expansions and moves.
What does that mean for you, Austin builders?
Well, more people = more homes needed.
Many people are choosing to move to the ATX, not only for the promise of a job but because of the atmosphere the city offers. There’s always live music playing somewhere, many places of business are dog-friendly, there’s a plethora of green space for outdoor activities, and much more.
They want to stay here for a while, so they’re more likely to buy property – which is good news for you!
Whether newcomers are looking for a forever home or a rental property to live in for a few years and use later for extra income, the new construction builders and fix and flippers of Austin are the ones who will be making those dreams come true.
If you’re curious about growth in specific areas of Austin, of just have a question about hard money loans – feel free to give us a call or stop on by. We’re here to help!