Investing in real estate in Houston, Texas can be daunting if you really don’t know what you’re doing. First off, there are so many costs that you have to consider. Real estate investment costs are vast and varied, but there are a few universal fees and costs. They include:
- Property permits
- Real estate registration
- Property insurance
- Property taxes
- Real estate prices
So the one question that you might be left asking is, ‘how exactly do these costs factor into Houston’s real estate investment?’
- Property prices
We all know the Houston real estate market has affordable properties. This is a fact well-known to almost every interested or potential investor. And seeing as it’s the second-largest state in the country by land area, it always offers so many opportunities for investment. If we can go back in history, you’ll learn that the housing market here has been slightly below or in-line with the US median.
- Property taxes
If you thought you can avoid paying property taxes in Houston, Texas, you need to think again. In the real estate world, property taxes are known as the natural component of any investment. So whether you’re investing to rent or buy a dream home, you’ll always bump into them.
By the way, Texas has high property taxes. But fortunately, investors don’t really feel the overall burden as there is no sales income tax incorporated anywhere.
- Property insurance
The Houston housing market is like any other real estate market out there. So don’t ever think that you won’t have to pay the property insurance while investing here. As a matter of fact, nowadays is more of a necessity considering the region has been riddled by floods, storms, and hurricanes.
- Rental property registration
We do have cities and counties in Texas that demand certain types of rental property registration. Common examples are presented in Houston and Dallas, but today we will be paying close attention to Houston, Texas.
In Houston, you have to register a multi-family investment property. The registration includes a ten-dollar administrative fee and a 40-dollar fee per unit. But if you need more information on this, you should reach out to us.
Will the rental property costs in Houston affect my Return on Investment?
Definitely. But you won’t know it unless you’re a real estate guru who has been dealing in properties. Calculating and listing these fees has never been easy, as potential investors have often complained about how discombobulated they feel after looking at them. However, you can always reach out to a professional property handler like us for help.
We will not only help you figure out how the property costs affect your ROI. We will also get you your dream home or rental and guide you throughout the process.
So are you ready to invest? We are ready to be your guide. You can directly call us or reach out through social media.