Waterfront Homes for Sale in North Dakota

The median home price in North Dakota is $331,500, but the purchase price is only part of the cost. Buyers should also budget for down payment, closing costs, property taxes, homeowners insurance, and ongoing maintenance.

Yes, you must buy separate flood insurance through the National Flood Insurance Program. Standard homeowners insurance policies exclude flood damage entirely. Spring flooding frequently affects towns along the Red River Valley, like Fargo and Grand Forks.

Severe spring and summer hailstorms make North Dakota a high-risk state for property insurance. Homeowners pay an average of $2,256 annually for standard coverage. The quotes can differ by over $1,000 depending on insurers and credit scores.

No, North Dakota doesn’t charge a real estate transfer tax at closing. State law requires a licensed attorney to examine and certify titles before insurers issue title insurance. Title companies cannot perform this review alone.

Local governments in North Dakota set mill levies individually rather than enforcing statewide rates. The median property tax bill is $2,769 annually. County rates vary from under 0.5% to over 1.5%. Counties that produce oil often enjoy lower property taxes due to extraction tax revenues. You should always verify local county mill levies before comparing listed properties.

Yes, two new disclosure rules recently took effect. First, sellers must disclose prior radon test results. Secondly, they must provide specific association disclosures for condominiums or properties with homeowners associations before closing.