Are you considering building your dream home in Oklahoma, but you’re not quite sure if it’s the right choice for you? Let’s discuss the advantages and disadvantages of pursuing your dream home project in this state.
In the late 19th century, Oklahoma witnessed a massive influx of settlers during a significant land grab. These individuals saw promising opportunities, coming from all corners of the world to seize the chance. The federal government generously granted thousands of acres of land to those seeking opportunity. To claim their desired land, these settlers simply had to line up in Northern Oklahoma and engage in a race to secure their plots. At that time, there were minimal roads and only a few railroads, while most settlements were still in their early stages of development. However, the good news is that Oklahoma now boasts a comprehensive road network.
Present-day Oklahoma has transformed significantly since those times. The state is now equipped with a well-connected road system, encompassing towns of various sizes and abundant undeveloped land. Consequently, Oklahoma continues to attract individuals seeking opportunities, and, even more promising, most areas now offer excellent internet access. Over the past century, Oklahoma has undergone substantial changes.
I’m Marcie Billen, a real estate agent in the state of Oklahoma. Let’s explore the reasons why you might consider building your dream home here, as well as some potential drawbacks. First, let’s dive into the advantages.
PRO:
LOWER COST OF LIVING COMPARED TO OTHER STATES
Compared to many other states in the Union, Oklahoma boasts a significantly lower cost of living. This affordability factor makes it much easier for people to maintain a comfortable lifestyle while still having some money left over. For example, consider the median home prices in California and New York, which stand at a staggering $800,000 and $790,000, respectively, at the time of filming. In contrast, as of now, the median home cost in Oklahoma City is $250,000. While building a home for exactly $250,000 may be challenging, it highlights the substantial cost advantage that Oklahoma offers.
Indeed, Oklahoma typically features lower housing prices, reduced utility expenses, and more favorable tax rates, encompassing property taxes and income taxes. This financial advantage translates into disposable income, providing you with the opportunity to lead the comfortable life you desire and realize your dream home.
Furthermore, Oklahoma still boasts ample available land. Keep in mind that Oklahoma only achieved statehood in 1907, which hasn’t allowed for extensive development over a short period. While city lots are common, it’s also highly popular to purchase larger plots, such as one acre, five acres, or even ten acres or more, to construct your dream home.
Although land prices have seen some increase compared to the past, when I share these prices with my clients from states like Texas and California, they are often pleasantly surprised by the relatively lower cost per acre that Oklahoma offers compared to those states.
PRO:
Growing Job Market
Number three, Oklahoma boasts a thriving job market, particularly in its two largest cities, Oklahoma City and Tulsa, both of which have metropolitan populations approaching one million. Over the past decade, these cities have experienced substantial job growth. While Oklahoma is renowned for its involvement in the aerospace industry, it’s worth noting that the U.S. Department of Defense ranks as the state’s top employer. Alongside its prominence in the fossil fuel sector, Oklahoma has burgeoning markets in healthcare and technology.
If you’re looking to get the most value for your dream home investment, smaller towns away from these metropolitan areas often offer more affordable options. However, building near these urban centers is still reasonably priced, especially considering the increasing availability of remote work opportunities. Additionally, with our robust internet access, you can reside in a smaller town, take advantage of remote work options, and enjoy a cost-effective lifestyle.
I’ve created a video titled “Five Cheap Places to Live in Oklahoma,” which you might find helpful.
Oklahoma is also blessed with an abundance of natural beauty. Did you know that Oklahoma boasts a staggering 200 lakes? Yes, you read that correctly—200 lakes! Many individuals opt to build their dream homes either near or directly on these lakes. However, it’s important to note that not all lakes permit the construction of boat docks, so it’s advisable to research specific regulations.
Moreover, Oklahoma is home to 32 state parks. Unlike some states with extensive state or federally owned land, most of the land in Oklahoma is privately owned. Consequently, many people choose to purchase property, allowing them to relish the beauty of nature in their very own backyard.
PRO:
Proximity to Major Cities and Amenities
Number five, Oklahoma offers excellent proximity to urban areas when you need it. As previously mentioned, we have two major metropolitan areas, Tulsa and Oklahoma City, both of which are equipped with airports.
In addition to these major cities, there are noteworthy smaller cities in close proximity. For instance, Norman, where I reside, ranks as the third-largest city in the state and is conveniently located near Oklahoma City. Broken Arrow, the fourth-largest town in Oklahoma, is situated near Tulsa, while Edmond, the fifth-largest, can be found on the north side of Oklahoma City. If you live in Oklahoma City or anywhere in the southern half of the state, you also have convenient access to the Dallas-Fort Worth area.
Now, let’s transition to the disadvantages of building your dream home in Oklahoma. It’s a fact that both you and I are well aware of: Oklahoma is renowned for its susceptibility to tornadoes.
CON:
Tornadoes
Tornadoes have indeed caused significant destruction in our state over the past few decades, but the reality is that this threat has existed for about a century, although we didn’t have comprehensive data for much of that time. Prior to the 1980s, there was no efficient system for alerting people about tornadoes or severe weather. However, today, we have numerous warning systems and apps available on our phones, providing us with all the tools we need to stay informed about severe weather.
In addition to tornadoes, Oklahoma experiences high winds, which, while related, are distinct phenomena. Last April, the wind blew so fiercely for nearly a month that it was challenging to venture outside. Wind gusts during that period reached speeds of 20, 30, and even 40 miles per hour, depending on your location. Depending on where your property is situated, you may also face the risk of flash flooding, particularly during severe weather events. Additionally, hail often accompanies tornadic storms, and while this is more common in the spring during tornado season, it can occur at other times of the year as well.
Many people also inquire about earthquakes. In the 2010s, our state experienced a notable increase in seismic activity. I personally experienced a few of them, and it was quite surprising since I had never been in an earthquake before that. However, in recent years, there haven’t been many reports of earthquakes that I’ve heard of. It’s possible that measures have been taken to address some of the factors contributing to this seismic activity.
CON:
Potential for Rural Flight and Declining Population in Some Areas
Number two on our list of cons is rural flight. While Oklahoma is celebrated for its picturesque landscapes and charming small towns, certain areas are grappling with the issue of rural flight. This phenomenon is a result of several factors, including declining economies, decreasing birth rates, and limited job opportunities that prevent people from staying in these towns to work and live.
This trend is particularly noticeable in Western Oklahoma, where the presence of oil fields can lead to fluctuating town populations. As oil fields ramp up and slow down, towns often experience periods of growth and decline in response to the industry’s fluctuations.
Moreover, healthcare access in some rural areas is severely limited, with the unfortunate consequence of hospital closures, both at the county and city levels, due to inadequate funding.
CON:
Lack of Zoning and Building Regulations in Certain Areas
The next con on our list pertains to zoning regulations and building regulations, which can be quite lenient in some areas of the state. In Oklahoma, we enjoy a significant degree of freedom from government oversight, especially when it comes to permitting and building residential properties. Notably, commercial properties tend to face more stringent regulations than residential ones. In many areas, there is no requirement for an occupancy permit for a house, which means you can live in it while it’s still under construction. Consequently, there are no city or county inspections during the construction process.
Furthermore, in many cases, there’s no need to obtain a permit or submit building plans for a house. While this is true even in some cities, it’s particularly relaxed outside of urban areas. Additionally, zoning regulations can be minimal. When browsing land listings in Oklahoma, you’ll often come across the phrase “no restrictions,” indicating that you can use the land for various purposes, whether that involves installing a trailer home or constructing a mansion. You have the freedom to keep animals and pursue your vision without strict zoning restrictions. However, this flexibility can potentially lead to unsightly or hazardous development, which may affect the value of your property.
As you explore Oklahoma, you might find that many roads, even those close to major cities like Oklahoma City or Tulsa, are not paved but instead consist of dirt or gravel. This is a common occurrence in the state. Some people are surprised by the condition of these roads, which may include not just potholes but also other challenges. Funding for road maintenance is limited in certain counties, which leads to the establishment of road agreements among neighbors. This arrangement ensures that the road remains accessible and is often a requirement for property financing. It’s important to be aware of the road conditions when considering a property to build your dream home in Oklahoma, as they can vary widely, from narrow and winding to well-kept or poorly maintained. Road conditions can be a topic of concern for many residents and newcomers, so it’s worth investigating if this is a critical factor for you.
If you’re thinking of moving to Norman for work, or for family, or anything else, you may want to download my Norman relocation guide.
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