Custer Residents Learn about Affordable Housing Options

 Thanks to a group of local professionals, Custer residents were better educated on the home buying process.   Several professionals participated in a Custer Home Buyers Fair and Seminar organized by NeighborWorks® Dakota Home Resources.  Their goal was  to provide attendees with a  better understanding of the home buying process including insurance, budgets, credit, appraisals, financing, home inspections, and working with a realtor.    

With interest rates so low, many are thinking about buying a home but are not sure where to start.   Buying a home is one of most important purchases that one will make in their life time.  Buyers need to understand all of their options before jumping in.

Presenters from Century 21, Highmark Federal Credit Union, First Interstate Bank, NeighborWorks® Dakota Home Resources, Dakota Land Trust, and Meade County Housing, shared their knowledge with attendees. 

Financial Services Manager at Highmark Federal Credit Union, Josh Campbell suggests that you compare all your options before selecting your lender.  Each homebuyer has a unique situation and each lender has special programs that can fit their needs.

According to a study prepared by Hanna: Keelen Associates in June of 2009, the median cost of home in Custer in 2009 was $123,900 and is expected to grow to $167,900 by 2019.  The need for affordable housing is an issue that many of the housing professionals realize.  Being educated on the market and all of home buying options will provide you with the best results. 

Affordable housing agencies, Dakota Land Trust (DLT) and Meade County Housing explained that by laying partnerships homes can become more affordable.  Dakota Land Trust works by sparing low income buyers the cost of the land, thus requiring only the cost of the house to be financed. The property is leased to the homeowner, who can renew the lease every 99 years, provided they or their descendants remain the inhabitants.  Governors’ homes are a quality, low-cost, low-maintenance, energy efficient place for income-qualified individuals and families to call home.  Executive Director of Dakota Land Trust, Joy McCracken, stated that often times by utilizing both DLT and Governors House families can get into a home for less than what they are paying in rent.

About NeighborWorks® Dakota Home Resources

NeighborWorks® Dakota Home Resources is a private non-profit organization that works to assist families with their dream of homeownership and revitalize communities to improve the quality of life. NeighborWorks® Dakota Home Resources has assisted over 900 families achieve their dream of homeownership. 

If you would like more information about NeighborWorks® Dakota Home Resources or the Custer Home Buyers Fair, contact Stephany at 605-578-1401 or visit us on the web at www.NeighborWorksdhr.org

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