Buying a home is one of the most important investments a person can make and now that the housing market has gone up throughout the state of Montana home buyers are hoping the trend continues into next year.
Currently the treasure state has seven major markets that report sales each quarter including Great Falls. The Montana Association of Realtors says the data shows more single-family homes, townhouses, and condominiums are being purchased. Sheila Rice, of Montana Neighbor Works, says the demographic of Home buyers has changed over the years.
"In Great Falls we have a very wide spectrum of people buying homes a lot of people are moving up in homes so they're taking their existing home and moving up into a bigger one those may be your middle income middle aged families then you have younger people looking to settle here and so they'd like to buy a house and they're certainly looking for rentals as well." Rice said.
Neighbor Works is also offering a homeowner education course to assist homeowners with the home buying process. Of the seven reporting markets, the Helena region saw the largest increase, up more than 16 percent over the first half of 2014, followed by Kalispell with a 14.2 percent increase.
Rice attributes low interest rates as to why more homeowners are now purchasing homes.
"Lower interest rates means that you can have a lower house payment or you can by more house for the same house payment so it is a great time to by a house in terms of down payments as well and we have a couple down payment programs that we can help you with so don't go thinking you have to save 20% of the purchase price." Rice said.
The home buyer education classes through Neighborworks will take place on November 19th and 20th from 5-9pm and the last day to register for those courses is on November 5th.
If you would like to register you can do so at the Neighborworks Great Falls office at 509 1st avenue south at least 2 weeks prior to class. You will be asked to pay a $50.00 non-refundable fee, sign-up for a ½ hour appointment to review your credit report, and pick up class materials. For more information you can call (406) 761-5861