Besides the rolling hills in Central Texas, vast fields of green in East Texas, and majestic mountains in West Texas, there are five other perks of purchasing land in Texas.
If you’re searching for land for sale in Harlingen or another Cameron County town, SRC Land can be your helping hand with their experience in decades of real estate and land development.
1. Property Tax Exemptions
When you purchase land in Texas, you may be eligible to qualify for a wildlife, agricultural, and/or timber exemption. These exemptions can minimize your yearly property taxes significantly. The exemptions are given for land that’s utilized for agriculture, including for pasture and grazing land, timberland, and wildlife preservation.
2. You Can Write Off Exemptions
Another financial advantage when it comes to buying land in Texas is that you may file a Schedule F in your federal income taxes. This applies to people who use their land specifically for farming.
What’s great about Schedule F is that it enables you to write off expenses assigned via farming, such as interest on a loan taken out to buy your land. On top of that, if you were to build on your property, you might be able to claim the interest on the construction loan in your federal income taxes.
3. You Can Invest and Profit Off of Your Land
If your intent of buying land in Texas is to start your own business, you will discover that there are a plethora of businesses you can get into that you can’t in other states. You can consider opening an inn or bed and breakfast if your desire is to provide unmatched hospitality services, or you can go for a more rugged approach by opening up a hunting lodge and/or camping grounds. Whatever profitable venture you wish to achieve with the land you purchase is only limited by your imagination.
4. Financing in Your Favor
The majority of people aren’t in a position to raise the necessary funds to purchase land with only one payment. People that look to buy raw land also encounter an obstacle due to the fact that banks and other conventional lenders do not comprehend how this market works. One reason is that they may not have ways to accurately figure out the value of land as it is.
If you’re looking to buy land in Texas, you may borrow from lenders who finance the purchase and development of rural land in Texas. Certain financing companies are landowners and farmers who understand the necessities and difficulties that come with looking to buy land and engaging in agribusiness.
5. Extremely Affordable Rates
Getting the funds to buy land can be a challenge. The good news is buying land in Texas is very affordable. While rates from one area to another differ, generally speaking, purchasing land is a practicable investment that is far more affordable than buying or constructing commercial buildings.
Simple, Affordable, and Seller-Financed Land in Harlingen
If you’re looking to purchase land in Texas, you will not find better deals than those provided by SRC Land. We are a premier land development company, and we take pride in our affordable parcels of land available for sale in Cameron County.