Whether you’ve lived in Oklahoma for your entire life or have only been here a few years, it’s easy to see how much the major cities, suburbs and even small towns have changed recently. Neighborhoods are expanding, attractions and amenities are constantly being built and there are new people moving into our state every single day. According to the U.S. Census Bureau, Oklahoma’s population experienced a 5.5 percent increase in the past decade, bringing the total number of residents close to four million.
An increase in population is a good indicator of the state’s steady economic growth, but what do more neighbors mean for existing Oklahoma residents? How will it impact you, your family and your property value in the future? Homes by Taber has some things you need to know as a present or future Oklahoman looking to purchase a home in the Sooner State.
There’s a variety of lifestyles to choose from
So why exactly are people moving to Oklahoma? One of the biggest draws to out-of-state transplants is the variety of places to live in the state, making it easy to find the perfect community you can feel comfortable and welcomed into.
Residents coming from densely-populated states like California or Texas might be drawn to a bigger city, like Tulsa or Oklahoma City, to get familiar urban amenities at a lower price. For people seeking out a slower pace of life, a small town with convenient access to nearby cities might be the route they’re looking for. Families, young professionals, retirees and everything in between can find a close-knit community feel in a sprawling suburban atmosphere, complete with highly rated school districts and close proximity to job opportunities and entertainment options.
No matter what type of lifestyle you’re looking for, Oklahoma has a place that will exceed your expectations—and chances are, there’s a Homes by Taber community nearby with a lot or home that’s waiting to be personalized.
A diverse job market and low unemployment rates
In addition to the living options, low cost of living and friendly population, Oklahoma is a mecca for working professionals. From the outside looking in, people might think jobs in Oklahoma only exist in the oil and gas or agricultural industries—but there’s so much more to our workforce than that. Software and technology companies, corporate offices of national and regional restaurant chains, the aerospace sector, marketing and advertising agencies, financial institutions, healthcare, education and more make up the diverse, thriving economy.
Besides having a diverse job market, Oklahoma also boasts some of the lowest unemployment rates in the country. The state currently has the fourth-lowest unemployment numbers in the United States—attracting even more new residents who have been on the hunt for first jobs out of college, a career change or a new opportunity. For employees that may work remotely, Tulsa, OK is offering a $10,000 grant that may be received upfront and applied directly to the purchase of a new home with their Tulsa Remote program.
Steady property values
Now if you’re a current resident of Oklahoma, or are hoping to make the move and wondering what will happen to your home’s value after the market may die down—we have some good news. For some, there may be a fear of buying a home in an active housing market, not knowing if property values will fall and whether you’ll be stuck with an overpriced home, paying more on it than it’s worth. But we’re happy to tell you that in 2008, property values where we build only went down a few percentage points before increasing at the standard rate once markets returned to normal. Oklahoma did not have the outcome that markets like Las Vegas, California, or Florida experienced and that should continue to be the case, no matter the market. Real estate in Oklahoma continues to be a wise investment and property values increase at a steady rate.
Additionally, Homes by Taber has garnered a reputation throughout Oklahoma for our Proudly Overbuilt promise, which has made it known that Taberhoods are the ideal place to live (and someday, sell) in Oklahoma. Living in a new-construction community also means property values will continue to increase, as opposed to resale communities where drastic changes have to happen in order to add significant value.
If you try to wait out this market, you’re going to miss out
Over the past year, the housing market experienced an unprecedented increase in demand, causing prices of materials to soar and the cost of homes to rise. Everyone is talking about the housing industry, waiting and watching to see what the market will do—including people who aren’t in the market for a new home, or in any way associated with the industry. Because it’s such a hot topic, it’s easy to be swayed by the opinions floating around. As a builder that’s earned the trust of homeowners over the past 20 years in business, we have some insider information for you.
The market isn’t going to calm down for a while. Inventory is remaining low (because it takes lots of time to develop new-construction communities in the most sought-after areas), interest rates are staying low and people still want (and need) to buy homes. As the economy continues to improve, interest rates have the potential to go up. So if you’re thinking about waiting out the market in hopes of a drastic change, the prediction amongst those in the industry is that you’re going to be waiting for a long time. Don’t miss out on the opportunity to purchase a high-quality home in a desirable neighborhood—even though inventory is lower than usual, there’s still plenty of options to choose from in Homes by Taber communities throughout Oklahoma. It’s still a great time to buy a home, and we encourage shoppers to act fast once they select the home they’ve been searching for.
Buy from Oklahoma’s Favorite Builder
If you’re one of the thousands of people making the move to Oklahoma this year (or if you already live here and are looking for a home in a new city or just across town) Homes by Taber is here to help make the process simple and straightforward. We believe that no one should have to settle for a home that doesn’t meet their needs and wants as a homeowner, even during a competitive time in the market.
To learn more about our commitment to building the best homes and neighborhoods in the state, contact us via online form or give us a call at (405) 984-1185. From there, we can walk you through our buying process, help find the best neighborhood for you and your family and schedule a tour of a Homes by Taber model home.