Favorable Conditions for Buying or Building a New Home in the Eau Claire, Chippewa Falls, or Menomonie, Wisconsin Area
Today’s house hunters will tell you, it can be a bit tiring to hear the constant flood of ads and advice urging them to BUY NOW! But as a little research will show you, that is some pretty solid advice. There are many reasons to invest in an asset as serious as a house, including the tax benefits, the financial stability it can create, and so on. But having watched and weathered trends in the Chippewa Valley’s housing market for over 20 years, your friends at R. Tews Construction & Design have four practical reasons to give today’s market a very close look.
- Rents are ridiculous: Here in Western Wisconsin we have seen the same trends as everywhere else in the country, and rapidly rising rents is one of them. Though folks in bigger cities have faced this reality for years, people in rural and less urban areas are being slammed, too. So, if you want to stop paying someone else for the roof over your head and start to bank some of those benefits yourself, you should consider buying or building a home of your own.
- Pricing is on the move: Since the housing bust in 2008, home prices have consistently decreased. However, they have now started to inch back up, so this may be your last chance to buy more house for the money. As you start your search, you should at least research the cost of building new. You may be able to take advantage of incentives from builders eager to keep their crews busy—another way pricing may be moving in your favor.
- Inventory: To expand on the previous tip, home inventories have been very strong, but we’re at a tipping point where they are expected to start dropping. That will boost prices—good for sellers buy costly for buyers. So it’s not only the ideal time to lock in at lower prices, but also to enjoy more choices.
- Rates: Interest rates remain low for mortgages of all kinds, including those for new construction. So we’re really at a point where the “Big Three” factors are in your favor: Pricing, Inventory, and Financing.
With such a favorable window for buyers, right now is a great time to explore your options. If your dreams include a new custom home in the Eau Claire, Chippewa Falls, or Menomonie area, the team at R. Tews Construction & Design would love a chance to discuss your vision. Having a dedicated contractor and design team on your side is yet another reason to buy now!
R. Tews Construction & Design: Wisconsin Custom Homes Gallery