In Texas, where everything is bigger, ranches exist that are larger than entire states (The King Ranch’s 825,000 acres, for one, overshadows Rhode Island). The availability of wide open spaces in a state with a stable infrastructure and strong economic base had made Texas an investment destination for those seeking premium farm, ranch, equestrian estates and hunting properties.
The Texas economy is strong. The Lone Star State earned the number one spot on CNBC’S Top State for Business rankings. The energy industry has created thousands of jobs, which has helped to shore up housing demand. And residents enjoy a favorable tax rate. The state is one of only a handful without an income tax.
Rural spreads carpet the landscape, a segment of the real estate market that has seen sustained appreciation. Some parcels are primed with promise and ready for development. Buyers are snapping up rural lands for investment diversification or as a safe haven to park capital. Or both. Others prefer established working ranches or smaller-sized ranchettes. These turnkey properties get the attention of buyers who are looking for improved properties with ready-to-go amenities. Add in aesthetically pleasing topographical features like rolling hills and rivers, and they’re ready to make a deal. And then there are luxury master-planned ranch communities with golf and tennis facilities that offer a little swank to the cowboy swagger.
Demand for recreational ranches is especially strong for properties within a reasonable driving distance of a major city such as Houston, where farms and ranches in the outlying counties can be used as weekend retreats. According to a report by the Texas Chapter of the American Society of Farm Managers and Rural Appraisers, quality of life is the primary motivation for purchasing properties in the more scenic counties. And, of course, Texas’ southern culture and oversized charm is integrally woven into every buy.
Content Producer Iyna Bort Caruso