When to Buy Real Estate in Montana

When to Buy Real Estate in Montana

Montana is one of the few states with plenty of wide open space and a very small population, that makes buying real estate here affordable to most residents.  That being said the real estate market here can still be fairly competitive and at certain times of year you can find a much better deal.  Whether you want to buy land to develop or buy an existing home or rental property you still want the best deal possible.   When is the best time of year to buy property in Montana?  Let’s look at your options and find out.

The Right Season

If you are seriously considering buying property then if possible waiting until the fall can yield you the best deal.  Typically the fall offers not only a decent amount of  inventory but the prices are also lower than they would be in the spring or the summer.  The interest rates still remain low enough that you may want to start looking for new property now rather than waiting until the rates go up or the prices climb in the spring.  Combine the better prices with the fact that sellers are more motivated in the fall.  A house or property that is still for sale in the fall will likely remain on the market throughout the winter, so you can negotiate not only a better price but a quick sale.  Here is more reasons to shop for a property in the fall.

Spring and Summer

In most real estate markets, Montana included the spring and summer are the busiest season for real estate transactions.  Families want to be in their homes before school starts and are hesitant to pull children out of schools in the middle of the year.  While you may have more inventory on the market, real estate particularly in the Missoula or Bitterroot Valley, the prices are higher.  That being said, home prices range between $150,000 – $250,000 makes home buying affordable for most residents, means there will be even more competition.

Where to Begin

Getting together with a good real estate agency that knows the area well is your first step in finding the right piece of property.  They can show you property in your price range and in the neighborhood that you and your family may want to relocate to.  If you are looking at vacant land or commercial property then find a realtor that can specializes in that type of real estate transaction.

Doing Business in Montana

Doing Business in Montana: The Good and Bad

Montana can be a great place to start a business, in fact it has the highest startup rate per capita in the country.  It is a business friendly state with no sales taxes and low rates for business taxes so you can find plenty of entrepreneurs here running their own small businesses.  While the good far outweighs the bad when it comes to opening a business her, Montana is far from perfect.  Let’s look at doing business in Montana: the good and the bad.

The Good

There are a lot of good perks to setting up a business in Montana.  If you love wide open spaces with incredible scenery along with all the hiking and fishing you can handle then Montana is the place for you.  Not only that Montana has affordable housing and commercial space, making far easier to compete with urban areas that cost significantly more.

Having an affordable cost of living means that wages are also affordable for the average small business owner.  If you are running any kind of retail business then you also don’t have to worry about the burden of collecting or paying sales taxes.  There aren’t a lot of regulatory hoops that you will have to jump through so getting your business set up is easier than you think.

The Bad

Montana has a population of less than a million people and they are far away from major markets so supply chain can be a problem.  You will pay more in shipping for supplies that you need for business.  If you have equipment that needs servicing, then chances are good there won’t be someone local to do the repairs and you will have to wait for a service tech to fly in.  Business travel can be expensive and you’re at least 2 flights away from almost anywhere.  Montana also has fewer college graduates than some other states making skilled labor a bigger challenge.

The Final Verdict

Overall the good outweighs any of the drawbacks of setting up a business in Montana.  Most of the obstacles can be easily overcome and while the cost of travel and transportation may be higher it is offset by lower real estate prices, labor and taxes.

The sheer beauty of Montana and the low cost of land makes it one of the best places in the country to have a thriving tourism or adventure type of business.  Overall you won’t regret your decision to do business in Montana.