Since the start of the pandemic, everyone was on edge financially. Nobody knew if our economy had enough grit to pull through. With the shortage of homes on the market at the start of the pandemic and scores of Americans losing their jobs, it caused intense competition among homebuyers who were actively looking for a home. This caused a perfect storm in the housing market. All of a sudden people started to realize they were sitting on goldmines; people who had just purchased months earlier were seeing double-digit returns practically overnight.
It’s working like this. Families that live in big metropolis-style cities like Dallas, DC, Los Angeles, and Chicago have started a mass migration out. They have realized that in the city they can only afford a cramped condo but on the same salary, in a more rural location, that same family can afford much more, potentially the farm they always dreamt of, or that beach home in Florida. As you can imagine sellers are falling over themselves trying to list their properties as well as their parents’ properties and brother & uncles…. Sellers know how hot the market is at any given time if they are in tune with their area, but when you see your neighbor sell his house with the flimsy porch and potholed driveway for $480k it makes you wanna put your house up on the market the following day for $550k, because why not! And so it continued, and sellers provided homes for families who where eager to pay above market price because the competition was that stiff in the housing market.
Metro cities that are economically friendly such as Austin and Phoenix for example have become havens for families migrating out of larger cities, both phoenix and Austin have amazing up incoming areas that are being developed on a grand scale to accommodate the influx of families, the land is readily available as well leading many families that are flush with money to consider building their dream home in the country or a few miles right out side a metro area you can usually find a more rural space to build while still being close to town.
Buildmax is primarily a house plan company so we get the pleasure of talking with many of these families first hand, when they get excited about a project it gets everyone involved excited. Just knowing that you have a part in providing a design that a family will get to use is very satisfying for our Team at buildmax. The barndominium style floorplans are our main focus, take a look at some new designs or do a virtual walkthrough to get a real feel of what you could build on your own land!
Condo’s today are selling at a staggering 17.3% discount according to Redfin.com the largest discount on single-family homes since 2013, actually. If you have even remotely considered a condo for the near future, now would be the time to make that dream happen. With the mega influx of families on their way to a town near you, once quiet hamlets will soon be overrun, forcing residents and incoming families to explore further and further off the beaten path to escape the ever-growing towns and once quiet towns dotted across the heartland. This is not such a bad thing for many of these towns that need some life pumped back into them. Not everyone will agree but progress is a good thing, a large majority of these families migrating to a more rural setting are blue-collar hard-working Americans some with fledgling businesses that can help in growing the local economy by providing much-needed jobs. Some towns rely heavily on local businesses to stay afloat; the more off the beaten ath you go you will notice it takes longer for these rural communities to bounce back after economic hardship like the pandemic.
Short term rentals will soon skyrocket making the choice to build a barndominium in the country an all too real option, Short term rental properties can be good in certain situations like if you travel alot for work or your single and like to explore and live a more free and nomadic lifestyle, or maybe you would prefer to live in a short term rental while you save more money and plan a little more. That is something I would highly recommend there’s nothing wrong with proper planning. Too many people get in over their heads because of a lack of planning. Be confident in your ability to design and build the barndominium of your dreams with the help of Buildmax.com call us today!