Star Valley Ranch
has a history dating back to when President Abraham Lincoln signed the Homestead Act of 1862. Settlers began migrating west to take advantage of the new opportunity and settled in Star Valley around 1879. The land that is now Star Valley Ranch was settled on much later, in the early 1900s, and became passed down and traded among families for generations. This area has changed and developed greatly through the years, becoming the town known and loved today. Though a relatively small town with under 2,000
residents, the environment is second to none.
If you’re considering buying a home in Star Valley Ranch, read on for everything you need to know.
Why You Should Buy a Home in Star Valley Ranch
The town of Star Valley Ranch sits adjacent to the Bridger-Teton National Forest in the heart of Star Valley, Wyoming. This serene environment offers the best of country life, with stunning natural beauty and outdoor recreation. Within this luxurious community, you’ll find two professional golf courses — Cedar Creek and Aspen Hills. The Cedar Creek Center, swimming pools, Duffer’s Lounge, and rental facilities are also available. The neighborhood is also home to various restaurants, including Three Canyons and The Grill. Star Valley Ranch perfectly combines beauty, serenity, and outdoor recreation. This is the perfect spot for you if you’re looking for a place to live and play that offers a quiet, small-town community.
Real Estate Options
Properties within Star Valley Ranch range from quaint golf course lots to half-acre treed lots. Enjoy a stunning array of options with exquisite views of Star Valley’s natural beauty. You’ll also find plenty of custom builders, so if you prefer to purchase a lot and build your dream home, that’s an option. Star Valley Ranch has an opportunity for you, no matter what you desire.
What to Know About Buying a Home in Star Valley Ranch
Suppose you’re considering purchasing a home in Star Valley Ranch. In that case, it’s essential to consider all aspects of the current real estate market, including median home prices, closing costs, property taxes, and any regulations there may be.
Median Housing Price
The average cost of property in Star Valley Ranch is around $500,000
. The prediction throughout the next few years is that costs will continue to rise on home prices, which means that home values will also increase. Over the last few years, home prices and values have steadily increased, with profits going up each year.
The amount you pay in closing costs will largely depend on the price of the property. If you’re purchasing a home that’s around $300,000
, you might only pay around $2,500 to $3,500 in closing costs. The higher the sale price, the more you’ll pay at closing.
The average price of property tax in Star Valley Ranch is around $1,500
annually. It’s important to ensure you’ve had an accurate appraisal so you are not charged the wrong amount. When it comes to closing, you’ll likely pay a full year’s worth of real estate taxes upfront. The obligation falls on the new owners through their mortgage lender or escrow agents for the prorated amount.
Other Costs to Consider
When purchasing a home in Star Valley Ranch, especially one with significant acreage, it’s important to consider fees that aren’t part of the real estate process. For example, does the property need fencing? Will you need to purchase additional equipment to maintain the property or get around? Take these things into consideration when calculating costs.
Investment Tips for Buying a Home in Star Valley Ranch
Consider a Larger Down Payment
The amount of your down payment varies depending on the home’s final price, though somewhere between 6%-13%
is average. Consider a larger down payment if you’re trying to save money in the long run. The greater the amount of the down payment, the smaller the loan, which means money is saved each month.
Increase Your Credit Score
Another excellent way to save money is to ensure your credit is in top shape. This will keep your mortgage rates at a minimum and give lenders more confidence in you.
Finding Your Dream Home
There are several key points to consider in your home search. When searching for a home in any area, the realtor may be the most important aspect of the journey. They will function as the quarterback for your purchase and have your best interests at heart. They’ll also be connected to a network of experts like the attorney, title company, surveyor, and lenders, to ensure any potential issues are navigated expertly.
The area of Star Valley is a predominantly agricultural area, and there are certain things to be considered that you might not otherwise know. For example, where is the water to the property coming from? Water rights are a huge deal in this area, and knowing exactly where your water comes from, irrigation and home, will help determine any additional costs associated. The same applies to your sewer lines or septic system. Do you know which one your home has? Your real estate agent should have all the knowledge to help you figure it out, as well as the maintenance and upkeep.
If you’re purchasing a home in Star Valley Ranch, Wyoming, you likely know that winters can be treacherous. If you haven’t experienced a winter in the area yet, you’ll want to research accessibility. Does the town own the property's roads, or are they private? Will you be responsible for clearing them? These are more things your realtor will be able to help with. In any real estate transaction, the agent is your most valuable asset and should be considered carefully.
Star Valley Ranch is an excellent spot to purchase a home. The natural beauty and abundant outdoor recreation make this a serene and peaceful place to live, while the high-class amenities give you a luxurious feeling. Homes range in size and style, but you’re guaranteed to find your perfect home here. Contact Patty Speakman
today if you’re ready to take the leap and purchase Star Valley Ranch real estate.