North Dakota ranks in top five states for happiest new home buyers

Good Day Dakota

Finding the right home at the right budget and in the right location can be a difficult process for any new home buyer. A new study suggests that North Dakota is one of the happiest states for new home buyers.

The company LawnStarter surveyed about 6,000 people from around the country who had bought homes in 2019. They found that North Dakota was ranked number five out of every state for the happiest new home buyers.

They asked questions such as how safe they felt, if they regretted buying a home in the area, if they liked their neighbors, and so on. In general, North Dakotans said they have friendly neighbors and feel like they live in safe environments to raise kids.

Only 13.8% of the people surveyed said they regretted buying a home in our state.
Kx News spoke with mortgage lender Travis Lang who agrees with the results –because he says we have such a strong market here.

VP of Mortgage Lending and Branch Manager at Guaranteed Rate Travis Lang says, “If you look at history North Dakota has never taken a huge crash ever in home values. So knowing that and the rates being very low a lot of home buyers are happy to live here and knowing it’s a safe place and it’s a good place to raise families.”

The number one thing North Dakotans were willing to give up for their first home was a pool and a basement. Iowa was ranked number one and Nebraska number two as the happiest home buyers.

Lang says 70% of his clients are first time home buyers.
He says our state offers lots of resources new home buyers should take advantage of.
Many first-time home buyers can qualify for the North Dakota Housing Financial Program if they haven’t owned a home in the past 3 years. It allows you to get a loan with a down payment as low as 500 dollars.

Here are Lang’s three go-to tips when buying a home:

  • Make sure to get a home inspection- he says many people overlook it when they get stressed
  • Give yourself enough time- ask for an extension with your closing so you don’t make a rash decision
  • Have two to three months of your mortgage put aside in a reserve account before you buy a new home

Some of the most common things he sees people do wrong is not doing enough research. Lang says it’s extremely important to get a 2nd or 3rd opinion on who will be helping you through your new home purchasing process.

Lang says, “Not every bank, credit union, or mortgage company is created equal. They all have differences and limitations depending on who you pick. So a lot of home buyers go with a quick, fast, easy decision and then they realize after they bought their house that there were other options out there they weren’t told.”

A 30-year mortgage is what most people do, but he says it comes down to the comfort of the person. He says, in general, the mid $200,000 is a reasonable price for first time home buyers to spend on a two to three bedroom house.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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