Everything is valuable in Texas, including the market for exquisite living. Marcus Hiles, Chairman and CEO of Western Rim Property Services, notes that virtually all new rental properties built in the Lone Star State are upscale, creating new opportunities for renters to revel in a luxurious lifestyle. “An increasing number of singles, families, empty nesters, and retirees are finding contentment through renting,” he states. “Across the U.S. the number of renters is anticipated to grow by a half million each year through 2023.”
Why the favor for renting over owning? Hiles indicates that, in Texas and across the nation, people opens to the flexibility that mixes with the rental lifestyle. “We’re a mobile population,” he reflects. “The idea of settling in one place for a decade – or for the length of a 30-year mortgage – doesn’t hold the same appeal as it did a generation or two ago.” Perceiving the myth that homeowners have an advantage when it comes to personal fulfillment, Hiles points to research exemplifying that renters come out on top. “People who rent actually spend more time engaging in leisure activities and interacting with their friends and neighbors,” he adds.