Among spots where renting is already more reasonable than owning are the surrounding Houston and Dallas/Fort Worth metropolitan areas. Because millennials face immense student loan debt and housing costs in North Texas have increased by 50 percent over the past five years, firms likes Marcus Hiles’ Western Rim Property Services that deliver affordable luxury housing accompanied by premium conveniences are seeing more demand than ever. “As discretionary income falls, renting becomes markedly more economically efficient than buying a house. Apartments offer additional financial freedom and consume far less space,” Marcus Hiles rationalizes. “The idea that owning your own home is the American dream is being turned inside out; since the housing bust in 2008, the renter population has swelled to 43 million households.” Throughout the region, young professionals are opting for a higher quality of life, seeking out Western Rim’s complexes for their convenient, pristine locations, premier school districts, modern amenities, and across-the-board lifestyle services.
For many years, small suburban towns built around manufacturing, education and other services furthered the American Dream. Now, many of these communities are rapidly evolving to meet the needs of a strengthening consumer market with different living and spending habits. Population increases in communities outside cities such as Dallas, Austin, Charlotte, Atlanta, San Antonio, Houston, Denver, Nashville and Portland have begun exceeding those of the city core as new, transit friendly complexes are erected. In December, the Urban Land Institute stated that, “contrary to popular perception and most media attention, three-quarters of 25 to 34 year olds in the 50 largest metro areas live in the suburbs.” On that note, says Marcus Hiles, is Millennials’ preference to continue renting after they leave the city. Throughout the United States, upmarket apartments are being built at an astonishing rate, transforming old manufacturing sites and undeveloped acres into luxurious living spaces centered around lifestyle amenities.
Reducing the rental price takes a lot of preparation. According to many reports, newspaper articles and the real estate expertise of Marcus Hiles, informing about your desired apartment unit is preferable. If you do your preparation well, you have a good chance to negotiate your way to a smaller rental price. However, don’t be blatant when asking for a price reduction. Instead, you can use a more subtle approach or even offer a long term/lease contract. Landlords will take your offer because it’ll keep their profit intact. You can read more about this on:
Few business and real estate development leaders in the Lone Star state are more visible than Marcus Hiles. As someone at the forefront of the business community, Hiles pays close attention to Texas’ track record regarding inviting new companies into the state. “Companies are relocating to Texas in order to take advantage of our business-friendly policies and stable workforce,” he notes. Even foreign investors are flocking to the state and employ more than a half million workers and foreign exports are strong. The state has the strongest trading relationship with Mexico and maintains steady relationships with Canada, China, Korea, and Brazil. Hiles is encouraged by the fact that Texas’ pro-growth stance is primed for increased growth in the future, especially when compared with states like California which lost over 1,500 businesses over the past eight years. In 2015, exports were valued at $251 billion, with a 93 percent growth over the previous decade in exports with free trade agreement partners. The state exported $45.4 billion worth of computers and electronics, $44.1 billion in oil and coal products, and $39.9 billion in chemicals.
Chief in Command of Western Rim Property Services, a regional business working directly with luxurious lifestyle, Marcus Hiles acknowledges that the Texas Association of Realtors’ findings can help him best serve regional costumers, clients and investors. “At Western Rim, we are always eyeing market tendencies and momentum to have a fully understanding of what our customers need” Hiles stated. “The Association’s recent findings offer unprecedented insight to our team regarding the real conditions of regional market sales. Also, it undeniably proves that the Texas’ overall real estate uprising is thriving. It’s an exciting time to invest in Texas.”
Furthering the concept that where one lives has a direct impact on health and well-being, Marcus Hiles’ Dallas developments provide an integrated offering of amenities that reinforce the importance of both community and nature. Parks, trails, schools, recreational centers, and day spas elevate units from typical housing to lifestyle living. Continued work performed by Marcus Hiles Dallas developments on public and private park systems, ponds, streams, and green spaces creates active, connected communities with high self-esteem and a sense of achievement. Marcus Hiles’ underwriting of $13 million in tree planting initiatives brings beauty to neighborhoods, with the broader goal of reducing energy demand and improving overall air quality. Of the commitment to respect the environment as well as the tenant, Hiles says, “Our bold goal is to lessen carbon emissions by more than 500,000 metric tons over the next decade,” adding “In the process, we’ll deliver energy savings to our residents and create sustainable, livable communities.”
The desire for a more tranquil environment in existing properties is increasing in cities across the U.S., with professional sound proof technicians “busier than ever as consumers search for quiet,” according to the New York Times. A persistent issue of dense, hi-rise apartment properties is the consistent noise from surrounding units being heard in others. Music, footsteps, and even talking have the tendency to bleed through floors and walls, bothering adjacent neighbors. Marcus Hiles’ strategy involves implementing effective soundproofing methods as before residents ever move in, eliminating any potential sound problems from the outset. Each new Western Rim project features double-thick walls separating homes, and 18 inches between floors underneath. The space between walls and floors is completely stuffed with cellulose, an efficient, optimal sound-muffling material (compared to the standard fiberglass insulation that other developers utilize). This proactive approach creates an ideal living space where residents enjoy the benefits of a noise-free home.
Some of the most enticing features drawing people to Frisco are the contemporary amenities delivered by newer, upmarket rentals including The Towers By The Park. Marcus Hiles Fort Worth based firm developed the community “to host highly desirable exclusive lifestyles,” he point out. Through conveniences of a hotel resort-style design, residents enjoy an infinity edge 165-foot long swimming pool, tanning deck and cabanas, and 24-hour high-tech fitness center boasting a cardio theatre. Located in suburban Frisco, each of the one- to four-bedroom units “bring chic, urban living in the form of modern, loft-inspired apartments,” notes Hiles. “Our unique properties take great pride in being on the cutting edge—they come complete with real hardwood floors, attached garages, granite kitchen counter tops and stainless steel appliances.” Western Rim’s townhomes and apartments also provide unmatched value. Hiles points out, “A new high-end apartment with similar features to what you’ll find in our Frisco community costs upwards of twice as much in Dallas.” Employment is another big factor to consider, as Frisco straddles Collin and Denton counties, and has a job growth rate multiple times higher than Dallas. The per capita incomes in Frisco is nearly 50 percent higher than its southern city neighbor.
In 2015, the U.S. Department of Energy revised its guidelines, demanding that new residential HVAC systems installed throughout the Southeastern U.S. increase the minimum SEER (the Seasonal Energy Efficiency Ration that defines the overall efficiency of air conditioners) from 13 to 14. In response to these changes, Marcus Hiles’ Fort Worth company went two steps further, insisting on only using central AC units operating at 16 SEER. The results were immediately noticed, with residents saving, on average, 20 percent annually compared to apartments built five years earlier, and up to 50 percent when measured against a 10-year-old home. The U.S. Energy Information Administration’s Residential Energy Consumption Survey documented Texas households spending an average of $1,800 per year on electricity, but Hiles notes that despite these expenses, residents in only one of his developments will save more than a combined $53,000 annually. His cost-effective projections estimate that over the course of five years, Western Rim tenants will collectively save more than six million dollars, an impressive total. These 16 SEER ACs help the environment by lowering CO2 emissions by 744 tons annually per Western Rim neighborhood—the equivalent of taking nearly 1,000 cars off the road each year.