Is 2023 a Good Year to Build a House in South Texas?
Are you considering building a house in South Texas? A home construction project is always a big decision that requires intense planning and preparation. So it’s natural to wonder if 2023 is a good year to build your new home in the Southern region of the Lone Star State. The answer, however, is not as straightforward as a ‘yes’ or ‘no.’
There are many factors, pros, and cons that you need to contemplate before giving the green light for the project. And to help you make a well-informed decision, we’ve provided a general overview along with various important tips and pointers that will give you a clear insight into the housing market and the prospect of building a home in South Texas.
Overview of Life in South Texas
Facilities and Quality of Life
Is South Texas a good place to live? In many ways, it is.
The biggest selling point of living in South Texas is that the cost of living is comparatively lower, and you can enjoy a decent quality of life. Amenities and facilities such as educational institutions, health care, and transportation are abundant and easily accessible. Simply put, living in South Texas has many benefits but not as many downsides or red flags.
Geography and Population
There are many counties and cities in South Texas. Although we won’t put up a long list of every city, some popular cities worth mentioning are San Antonio, Corpus Christi, Brownsville, and McAllen. For new homeowners and first-time buyers, one of the best cities to live in is McAllen, TX, mainly due to its low cost and affordability.
In general, the median house price in many cities of South Texas is cheaper than most big and popular cities in the US. So there’s no doubt that it’s an affordable place for people looking to own a home even with a lower budget. It’s one of the prime reasons people choose this region as an ideal place to build a home.
Pros and Cons of building a home in South Texas
South Texas is a great place to own a home, but every region has pros and cons. So let’s look at the highs and lows of building a home in South Texas.
- As stated earlier, cost and affordability is the biggest benefit of building a house in South Texas compared to many other places in the US.
- This region also displays a wide diversity of architectural designs, so you can customize your house as per your ideas and preferences by hiring a custom home builder.
- Another massive benefit of having a home in South Texas is that the market value of houses keeps rising, which means you get a good resale value if you choose to sell the property in the future.
- Texas is generally prone to hurricanes, storms, and severe weather. So you need to take safety measures to ensure the structural strength and integrity of your house to resist the harsh weather.
- The cost of home construction in South Texas can greatly vary depending on the city and location, so if you want to cut down your costs, you’ll have to be very careful about where you want to build your home.
Should You Build a Home in South Texas in 2023?
Now you have enough information about the overview of South Texas and the benefits and downsides of constructing a house in this region. So what should be the final verdict?
Is it a good idea to build a home there in 2023? From a financial perspective, the answer would be a yes.
Why do we think so?
One main reason is that the value of homes in Texas keeps growing yearly and has grown steeply post-covid, as shown by the recent house price index. For many years, Texas has had a higher demand for homes and insufficient supply. So, house prices often lean towards a seller’s market.
That means two things:
- If you choose not to construct a home in 2023 and delay or postpone the project, the overall cost will likely get even more expensive later. It’s quite rare for housing prices to drop in Texas in the years ahead.
- And if you choose to build a home in 2023, the house’s market value will rise significantly. If you decide to list the property at some point, you can expect an excellent selling price.
Of course, this isn’t the only factor to consider. You must factor in the cost of living, general lifestyle, facilities, weather conditions, etc. But these things all boil down to preference, and if you already find South Texas to be a nice place for you and your family to reside, then 2023 is as good a year as any to build your dream home in the Lone Star State.
South Texas is quite an affordable region in the US for home buyers, especially compared to larger cities. The housing market is also booming there for people who have plans to sell their property in the future. Other living conditions are also mostly favorable, and while there are some cons, they are mostly outweighed by the pros.
If you’re strongly considering the possibility of home construction in South Texas, feel free to reach out to us at Dolcan Homes. We are one of the leading custom builders for new homes in McAllen, as well as some of the most beautiful custom homes in the private Mayfair Subdivision. With almost two decades of experience and a team of expert professionals, we can turn your dream home into a reality.