Yahoo Finance 5 Reasons You Might Regret Buying a Home in Texas
There are plenty of benefits to buying a home in Texas. Lots of sunshine, a booming job market, an affordable cost of living and educational opportunities are reasons enough to make you want to move to the Lone Star State, but it has its share of drawbacks, too.
For You: I’m a Home Staging Expert — Watch Out for These 5 Staging Red Flags When You’re Buying a Home
Trending Now: 4 Genius Things All Wealthy People Do With Their Money
Before you make an offer, consider whether you might regret buying a home in Texas.
Wealthy people know the best money secrets. Learn how to copy them.
High Property Taxes
While Texas residents don’t pay state income tax, property taxes are higher than in most other states. Texas ranks 12th among all 50 states for property tax as a percentage of median income, according to Redfin.
Between 2019 and 2023, median property taxes in Texas rose 26% due to a dramatic increase in home prices, Axios reported. According to CoreLogic data shared with Axios, the median property tax bill was about $3,900 in 2019 compared to $4,916 last year.
Check Out: Is Barbara Corcoran Right About the Housing Market?
It Gets Hot
Temperatures in Texas can vary drastically depending on where you live. For example, temperatures in Fort Worth, located in the North Central region, range from 94 to 98 degrees Fahrenheit during the summer. Houston is slightly cooler, with summer temperatures ranging between 88 and 91 degrees.
One of the hottest places in the state is Rio Grande Village on the northern banks of the Rio Grande in Big Bend National Park. Last year, the area experienced its hottest year on record as average highs were over 110 degrees, the San Antonio Express-News reported.
You Need a Car
You may not need a car if you live in a downtown urban area of Texas. But everywhere else, most residents depend on having their own transportation because distance between cities can be several hours. Even within a major city like Houston, destinations are not fully accessible by public transportation, according to Rice University.
There Are a Lot of Bugs
Some parts of Texas get really humid and muggy during the summer, especially along the lowlands and the Gulf Coast. This provides a perfect breeding ground for mosquitoes, wasps, ants, spiders and cockroaches, Redfin reported.
Extreme Weather
If you buy a home in Texas, you may experience severe storms like hurricanes and tornadoes, depending on where you live. These storms are enough to damage your property or even cost you your life. According to Redfin, hurricanes often leave thousands homeless and without electricity, so make sure to prepare yourself beforehand.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: 5 Reasons You Might Regret Buying a Home in Texas