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Date Archives: September 13th, 2022

Town and Country Realty Home

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Great Question, there are a few things you can consider:


It's clear the Fargo/Moorhead (and entire country, to be honest) 2022 housing market has been defined by rising mortgage rates. With rates on the rise, it's also become more costly to purchase a home. According to the National Association of Realtors (NAR): "Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%."  Despite this difficulty, there are still things hopeful buyers can do.


  1. Be mindful of location - Just because you can't purchase your dream home doesn't mean you have to settle for something you don't want. By being willing to compromise on location, you may find a home that better suits your needs. For example, if you had your heart set on living in the city but are finding it too expensive, consider looking in the suburbs instead.   There are many lovely communities located outside of major metropolitan areas that offer a higher quality of life at a fraction of the price.  Do your research and be open to new possibilities; you may be surprised by what you find.

    Not only that, the outskirt towns around the Fargo/Moorhead area are BOOMING. Look at Horace, Casselton, and West Fargo in general. Those "small towns" will likely bring more accommodations your way in no time!

  2. Consider a fixer-upper - With home prices on the rise, one way to get more for your money is to purchase a fixer-upper. By making some cosmetic changes and perhaps doing some minor renovations, you can turn an affordably priced home into your dream home – without breaking the bank. When considering a fixer-upper, it's important to have realistic expectations; not every fixer-upper is a HGTV project waiting to happen. However, even small changes can make a big difference and with some elbow grease (and maybe a little help from professionals), you can end up with a stunning home that reflects your unique style and personality.

  3. Look for alternative funding options – the government has programs that will help with down payments. Not only that, there are certain professions that have access to funds that you may not know about. Teachers, doctors nurses, and veterans, to name a few. Make sure you are working with an experienced Mortgage lender (alongside your Realtor) so you can utilize these funds, if they apply to you. First time home buyer? There are many funding options available. Just ask! You can always check as well to see what's available to you now.

Purchasing a house is one of the biggest financial decisions you will ever make so it's important do your research and be mindful of your options. By being willing to compromise on location or opting for a fixer-upper, you may find that perfect home within your budget after all. Lastly, remember to think long term; if purchasing now doesn't make financial sense, hold off until later when conditions may be more favorable. Although finding affordability in today's market is difficult, with careful consideration and planning, anything is possible.