From Falls Park to the Big Sioux River, Sioux Falls has a lot to offer. And like most places in the country, there's a housing shortage that only makes it more difficult for you to move in.
It may seem like buying a home is impossible in this economy. And yet, a steady stream of people are making their way to South Dakota. There are, in fact, houses for sale.
However, you need to know when the best time of year to buy a house is. In this guide, we'll provide the home buying tips you need before you become a member of the Mount Rushmore State.
A better question is, why not? If it's not the stunning natural beauty that draws you in, then perhaps it's the friendly locals. South Dakota has a long, rich history and comes in at number 15 for best US states.
South Dakota welcomes all, especially those looking to get away from the hustle and bustle of coastal cities. The Great Plains is more spread out, giving you that small-town feel without living in one. Take a drive through the Dakota countryside, and you're sure to fall in love.
Now you're sold on Sioux Falls, South Dakota. Question is, when should you set down your roots in this wonderful midwestern state?
The answer is: it depends on your priorities. Different times of the year offer different advantages and disadvantages. When to buy a home depends on which of the following is most important to you:
Of course, things aren't black and white. You won't get a month with only low home prices, but terrible availability and mortgage options, and vice versa.
There will always be a mix of contributing factors to when the best time of year to buy a house is. Unfortunately, no one can give you a hard-and-fast rule that applies in every situation. The housing market is always changing, so the best you can do is research.
However, there are trends that seem to repeat themselves year after year. In this guide, we'll be discussing the above three reasons for moving in.
Whatever the case, you can ask your realtor in Sioux Falls about what you should do. They know the area, its idiosyncrasies, and how to buy a house. Trust in the real estate experts before making a big purchasing decision.
You should probably start your move in January if you're looking for the lowest prices. This is a cold month, and any houses up for sale tend to run lower than their typical listing price.
However, just because prices are cheaper doesn't mean that there are a lot of options. While you may get lower asking prices, you also get lower supply. Not many homes are on sale at this time of year.
If you're in search of a wide spread of options, you probably shouldn't buy in January. Finding your dream home means shopping around and seeing everything that's available.
If having the most choices available is your aim, then you'll find more houses for sale in June. These are the warmer months when the most moving in and out is happening.
You're guaranteed to find your dream home during this time of the year. Just make sure you get yourself a good agent to help you sift through the options. A lot of homes mean a lot of people just like you searching for their dream abode.
However, you might not get those same low prices as in January. That's the trade-off you'll have to make do with.
Sometimes, buying a home isn't about the current price or even availability. You've seen how a bad mortgage can ruin someone's finances. Getting a low price or having a lot of options to choose from doesn't mean much if you're locked into a bad deal.
That's why waiting until December may get you the lowest interest rates on the standard 30-year mortgage. Again, this is not a rule that's set in stone. The housing market can be unpredictable at times, so you should speak to your realtor if a good mortgage is your primary concern.
Sioux Falls is family-friendly, among other benefits, and as such, family homes are more affordable here. If you're looking to get a large home for all the kids, there's no better place.
You may have to make your purchasing decision based on local industries. Unless you plan to work remotely, you might be taking part in local Sioux Falls industries. This includes food processing, biomedical equipment manufacturing, and finance.
Like all industries, there's usually a yearly hiring window. Employees are moving on or moving out of state. Big companies begin their yearly HR push, and that may decide when you are on the market for housing.
Plus, you may be making a move from out of state. If that's the case, check out these tips if you're new to South Dakota.
It's hard to choose just one thing to like about Sioux Falls. Whether it's the nature, the small-town feel, or the family-friendly environment, there's something for everyone. The best time of year to buy a house will depend on what your priorities are, so use this guide depending on what those are.
Moving is everyone's worse nightmare. Everyone, that is, except experienced realtors. They live and breathe this stuff, and they're your best asset when it comes to moving.
Get in contact with Aaron Rietsema to guide you through the ins and outs of the Sioux Falls housing market.