Early this year, Northwestern Wisconsin home buyers dealt with low home inventory and rising home prices. Today, buyers face more of the same, but with added headaches like fast-rising interest rates, inflation and geopolitical worries. All considered, is now a good time to buy a Northwestern Wisconsin home?
Yes, and here’s 7 reasons why!
1. Buying a home with a fixed-rate mortgage is your best defense against rising housing costs.
2. In times of uncertainty, home ownership provides a feeling of security and stability. Nothing beats owning the roof over your head!
3. Home building costs are not likely to decline in the future.
4. Nationally, home inventory is short of demand by an estimated 4 million units. It could take years for supply and demand to balance out, which will keep home prices rising in the meantime.
5. Barron County median home prices, on a year-over-year, annualized basis, have increased every year since 2012. Rusk County median home prices have done the same since 2017. As a whole, Northwestern Wisconsin home and land prices are rising.
6. A mortgage can be paid off, but rent never stops!
7. Long-term home ownership pays you back in the form of equity and market value appreciation. This means money back to you, when you eventually sell!
Looking for Northwestern Wisconsin homes or land? You’ve come to the right place! As a locally-owned family business with over 40 years of experience, we can help you with every step of the home buying process. Call Six Lakes Realty today for friendly, hometown service!
Six Lakes Realty
Office: (715) 924-4806