Despite the current housing market, log housing is gaining popularity. As a matter of fact, surveys show that building a log home is preferred by a large portion of the baby boomer population. Every day we hear about the housing market. Houses are sitting on the market longer. Land is not selling well. Buyers are finding it harder to obtain financing. Because of these trends, prices are down. That makes it a buyer’s market.
Now is the best time to buy or build a log home.Here are 3 good reasons why:
1. Land costs have diminished: With the greater burden of more land and homes on the market prices on raw land have gone down, even in resort areas.
2. Interest rates are low (for now): Economists are suggesting interest rates will go up soon. Interest rates are the single largest factor in determining the monthly payment. So the lower the interest rate, the more house you can buy for the money. The time truly is now to take advantage of low interest rates.
3. Builders are charging less: With slow growth in the housing market you will likely find more contractors and sub-contractors with less work. Builders are more inclined to reduce their profit margins in order to maintain their business. The result is more building bang for your buck.
Final thought: Log home ownership is a passion and a life long dream for many. Take advantage of lower costs and interest rates by buying the log home you have been dreaming of now.
About the Author: Keith Hodgson is the Vice President of Dealerships for Southland Log Homes.