With oil prices hovering around less than $50 per barrel, economy experts are predicting both positive and negative effects on a global, national, and local scale. The continuing decline in the price of oil has caused investors to move to “safer” assets as various markets attempt to explore the impact of cheap oil. Investment in real estate is becoming more interesting as investors are looking for better investment returns. 

Montana made it through the recession in great shape with one of the lowest unemployment rates in the nation and the state is financially sound. The state is on many people's bucket list to see and continues to draw millions of tourists a year to see and experience its many wonders. People can work from their home due to technology advances and people no longer need to live in a congested metropolis, so why not work where you love to live. 

If these price drops are here to stay, analysts claim that this phenomenon could even affect the price of home building. Landmark Builders, the premier custom home builders in Whitefish, MT, are already bracing themselves for the potential rise in demand for custom homes in the area. Serving the Greater Flathead Valley, including Bigfork, Kalispell, and Lakeside, this company has been building luxury homes since 1976.

There’s been a positive outlook for the local construction industry of Flathead Valley in the last couple of years, thanks to the overall growth in construction spending, increase in construction employment, the U.S. economy, and the number of development opportunities in a market that has been struggling to recover from the recession.

As experts predict that crude oil prices will remain low for some time, they also expect significant improvement in consumer confidence and optimism in the local housing industry. Naturally, lower oil prices also mean that the cost of petroleum-based transportation and building materials will go down as well.

Products that custom home builders use, including asphalt, insulation, steel, PVC piping, and roofing materials will also experience the impact of lower oil prices, which translates to modest savings for the customer and contractor. Home building companies in Flathead will also be able to reach out to subcontractors and negotiate more competitive partnership deals.

On the other hand, the fall in oil prices can indirectly cause custom homes to increase in price and value over time. As more land is purchased and premier locations become scarce, homes in this area may increase in price.

For this reason, now is the best time to have your luxury home built by Flathead Valley’s top custom home builders. Call Landmark Builders today at (406) 253-3839 or visit the website to make an online inquiry.