Thinking about buying a home or renting in or around Minot ND. I am military and will be stationed there for 3 years. Is there a decent rental market?

Asked by Justin Schultz, Rockledge, FL Sun Aug 5, 2012

Have to have a garage, 2-3 bedroom 1.5 bath. BAH is $2,200 a month and we have a well trained golden retriever. May want to buy if it's a better deal

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6
Donna Foster, Agent, Minot, ND
Sun Aug 5, 2012
You would be much better off buying if you're going to pay out that much a month. Give me a call when you're ready. My name is Donna Foster. (701)833-7953. I work with Watne Realtors
1 vote
Could I buy a property in Minot with Green Card? But it is not yet permanent one. Will it inflate?
Flag Sat Mar 8, 2014
I have excellent credit and qualify for a VA loan, what kind of house can I get with that BAH? Will resale be good in 3 years?
Flag Sun Aug 5, 2012
smassey70, Home Buyer, Minot, ND
Wed Jun 19, 2013
Please check out our property. We just listed it yesterday...FSBO, 5 bedrooms, 2 stall garage, Check out the youtube link. I taught on the base and lived here for the past six years. It's an 8 minute drive. We have 2 acres, and a fenced area, which we use for chickens, but you could use it for dogs. We have two labs, and they run all over they yard...we just use a wireless containment system with receiver collars. Property is listed at $349,000 OBO.
0 votes
colv2490, Both Buyer And Seller, Minot, ND
Sat Oct 20, 2012
First off, the rental prices are out of this world & with a large dog you need a fence (which that's hard to find). You should buy not only for the return investment, but if you rent, you end up shoveling & mowing with no return on investment. fyi- it snows before halloween & ice stays on the ground until at least April! The wind shifts here in DEC-MAR every 6 hours and you will end up reshoveling or the blown dry powder or they won't deliver your mail. The best part about Minot for military is the return on investment of a house as long as you don't buy anywhere near the train tracks or bodies of water. The NW side of town is prime because you are on top of the hill & they are building a new set of shops & grocery store. The home value there are skyrocketing. For example, we bought our home for $178K & in just 3 years we are valued at $320K. You really have to have a double car garage because the snowblower & lawnmover will take up room & I'm assuming you will not want to shovel out your wife or kids cars for them every morning. Remember, the winters are forever here so don't think twice about renting, most military sell their homes quickly to other military so the resale is quick and seamless. Bottom line, you could do zero repairs & rennovations & because of the flood the non-flood areas have increase in value anywhere from $40K (1-2 bedroom)-$110K (4-5 bedroom). Minot is the only place in the world where military totally cash in on home resales -- it's a monopoly & with the recent flood, they just can't build homes fast enough so your home value will only increase).
fyi- Don't even think of buying outside of Minot, the snowplows will be the last to get to your crappy road. I doubt anybody military would ever cut you slack during the million recalls your job will call you in for. So, unless you plan on buying a commercial snowplow for your hillbilly sidestreets plan on loosing your job because you can't get out of your driveway! I'm assuming the guy who wrote you that advise isn't military. I mean, maybe you could live out of town if you were retired military & nobody expected you to be anywhere on time.
0 votes
Lauri Sorens…, Home Buyer, Minot, ND
Fri Sep 21, 2012
We have an awesome house for sale with 4 bedrooms, 2 bathrooms, 2448 sq. ft. with a 44' x 24' quad garage and a 21' x 15' single garage. Its a nice property in SE Minot. Take a look at MLS#20122049 here:
http://minothomesearch.com/details.php?mls=20122049&type=r

Thank-you!
0 votes
Casey Higgins, Both Buyer And Seller, Minot, ND
Mon Sep 10, 2012
I am military and will be leaving Minot soon, looking to rent out my 3BR/2.5BA house in the NW side of town. Most places in Minot that meet your needs are renting for more, but I'm willing to get less knowing that fellow military will likely take better care of it. $2,200 and a 3-year lease would be do-able...a dog is fine too. It is 1,800 sq ft on 2 stories, plus finished basement, built in 2012, attached 1-car heated garage, central AC, nice yard, laundry room, lots of kitchen storage, master BR w/private bath, etc...I could even do the common areas and master BR furnished and you could keep the furniture (functional not fancy). Timing is flexible with at least couple weeks' notice. You can contact me at caseydelia@gmail[.]com (remove the brackets) if interested. Thanks!
0 votes
Michael.erb84, Home Buyer, Minot, ND
Tue Aug 21, 2012
The housing market in Minot for rentals and buying are so inflated right now its rediculous. If you go outside of Minot and the immediate surrounding areas you will get A LOT more bang for your buck. You might have to commute a little bit but you wont spend an arm and a leg just for a place to live. Plus there are a lot of nice houses for sale for a good price outside of the minot area!
0 votes
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