First-time home buyer in Sioux Falls? Use this 12-step checklist

Before you do anything else

Buying your first home in Sioux Falls in 2026 is genuinely doable on a normal income. Median home price is $305k, and South Dakota's first-time buyer programs are some of the most generous in the Midwest. Here's the order of operations.

The 12 steps

1. Pull your credit (free). AnnualCreditReport.com. You're looking for a score above 640 for FHA, 740+ for the best conventional rates. Fix anything obviously wrong before step 2.

2. Get pre-approved by two lenders. One local (we like Plains Commerce or First PREMIER), one national (Rocket or Better). Compare rates AND closing-cost line items.

3. Calculate your real budget. Mortgage + tax + insurance + HOA + ~1% of value/year for maintenance. If your number is uncomfortable, lower the price target — don't fudge the maintenance line.

4. Look at SDHDA programs. South Dakota Housing Development Authority offers down-payment assistance up to $10,000 and below-market rates for first-time buyers. Most lenders know how to package these.

5. Pick neighborhoods, not houses. Drive Cathedral, McKennan, Whittier, All Saints, and the new-build west side at 7am, 6pm, and 10pm. Pick two zip codes that feel like home.

6. Hire a buyer's agent. Their fee comes out of the seller's proceeds in most deals. Ours is happy to walk first-timers through this — just reach out.

7. Tour 8–10 homes in one weekend. You will think you can pick from photos. You cannot.

8. Make the offer. In Sioux Falls, expect to compete on most properties under $325k. Lead with a clean offer, reasonable inspection contingency, and 15-day close if you can swing it.

9. Inspection (don't skip it). Budget $400–$550. The inspector will find things. Renegotiate the obvious stuff (HVAC, roof, water heater); don't sweat cosmetic items.

10. Lock your rate. Once your offer is accepted, lock for 30–45 days. Rates move daily — don't gamble.

11. Schedule the walk-through 24 hours before close. Confirm the home is in the same condition and any agreed-upon repairs are done.

12. Close. Bring your driver's license and a cashier's check. Sign 60 things. Drive to your new house. Order pizza.

Two things first-timers always forget

• Title insurance is required by your lender (~$500–$900). Get the owner's policy too — it's a one-time $200ish add-on that protects you forever.
• Switch utilities the day of close. Xcel Energy, MidAmerican Energy, City of Sioux Falls Public Works. Don't assume the seller's accounts roll over.

Want a buyer's agent who'll text you back?

Get in touch — we'll send you three SDHDA-eligible properties matching your budget within 24 hours.