Oct. 7, 2024

This paid piece is sponsored by Central Bank.

Dave and Jessica Stienstra traded a newly updated home on the far west side of Sioux Falls for one that dates back 119 years a few blocks south of St. Joseph Cathedral – and they couldn’t be happier about the move.

“I’ve always loved older homes. I love the architecture and design. They’re just different,” said Jessica Stienstra, who mentioned her husband also was open to the idea of a move.

After putting in offers on many homes in central Sioux Falls neighborhoods, one house in the area of 10th Street and Prairie Avenue became their own in early 2023.

“When we saw this, it was a no-brainer,” she said.

“We were drawn to the Cathedral District because it’s at a point where it’s picking up steam and changing. Five years ago even, it was a different story. And in the year and a half we’ve been here, we’ve seen so many positive changes to the neighborhood. Houses are being updated, and there are multiunits being turned into single-family homes, which is super-exciting.”

Not far away in the area of 17th Street and Main Avenue, Ian and Hanna Williams also were drawn to the idea of living in a home with history.

“The owners prior to us had taken extra care with it, and it has a lot of character with the original woodwork and layout and fireplaces,” Hanna Williams said. “We’re fortunate to find a house that had all these things.”

The house was built in 1906 and was owned by three families before the Williamses.

It was converted to a fourplex rental in the 1940s in a design by renowned architect Harold Spitznagel. Their first home was two blocks south. Out of space, they didn’t want to leave the area and decided to see if they could purchase this one, even though it hadn’t gone on the market.

Ian and Hanna Williams became the new owners early this year and now will be bringing it back to its original single-family floor plan.

“It has so much character. We’re really trying to preserve that but open it up,” she said. “We can tell which walls were added for the fourplex, and we’re working off the original floor plan.”

Both couples worked with assistant vice president and mortgage loan officer Peter Jenkins at Central Bank to finance their homes.

“They’re changing their neighborhoods in positive ways,” Jenkins said. “There’s so much history here, and they all really enjoy learning about Sioux Falls and how it’s developed. Housing is one way we can commit to historic preservation.”

In many cases, older neighborhoods – especially those north of 14th Street – also can qualify for special revitalization programs offering grants to help with down payments and closing costs, he said.

“We rely on our experience to guide clients in these situations,” Jenkins said. “We’ve been able to find valuable programs for many clients, including connecting them with the city of Sioux Falls for funding options that might further assist them.”

Because many owners acquiring older homes plan to make significant improvements, the lending approach often needs to reflect their upcoming projects, Jenkins said.

The Stienstra family still has “quite a bit of updating to do,” Jessica Stienstra said.

“My husband already poured a labor of love into refinishing the original hardwood floors, which look brand-new, and we’ve been tearing down some wallpaper. We remodeled the kitchen and did some light updating in the living and dining rooms. But we have big projects coming up in the next year – hopefully relocating the main-floor bath and laundry and restoring the butler’s pantry, in addition to the exterior. All the windows are original, which is amazing, but they need some love.”

Here’s a look at some of their before-and-after work:

Before and after:

Before and after:

They had worked with Jenkins on a previous mortgage.

“It was fantastic, and he’s been great to work with,” Jessica Stienstra said. “We knew down the road we were potentially going to have to do a home equity line of credit, and Peter was very patient answering our questions to make sure we were putting our money where it made sense – what to put down and what to put in savings. He was fantastic in helping us take a look at the market and what we potentially could expect down the road as we’re making investments in the home.”

To Jenkins, “their passion for the neighborhood stood out,” he said. “They love the area and are trying to add a historical plaque to their house and are dedicated to revitalizing the area.”

The Williams family will have some work to do opening up their home, refinishing floors and the stairwell, but otherwise “it’s been pretty remarkably maintained to the extent there’s not much to restore,” Ian Williams said. “I would honestly say it’s been hard not to get to know people around here. It’s extremely communal and fabulous for young families.”

Their connection to Jenkins came through their real estate agent.

“From early on, he was extremely supportive and committed to figuring it out, so it’s been great to work with him,” Ian Williams said.

Jenkins compares the approach to financing for the Williamses as similar to a new-construction home.

“At Central Bank, there’s a single close for such loans, so your rate can be locked in for up to two years, and you’re not required to refinance during that time period,” he said. “It can be appealing for people with large remodeling projects that can take more than a year. There are multiple ways to tackle these loans, which is why working with an experienced lender is so helpful.”

Are you considering investing in a home renovation or a new home? The mortgage lending team at Central Bank is ready to help. Stop in at any of the three Sioux Falls location, or click here to begin learning more online.

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