Everyone is talking about a real estate bubble in Idaho, and are quick to call it a "sellers market", but does that mean it's a bad time to buy a home? We don't think so! There are a number of good reasons to consider buying a home this Summer, let's take a look at just a few of the big reasons why.
There Are More Homes
Inventory has been low over the last year or so, but we're seeing those numbers turn around - and that means power for the buyers! It's a good time to get in and start finding properties before the market gets oversaturated, or the home you want is already sold.
Homeownership Provides Stability
With inflation at an all time high and the costs of living climbing, owning a home is one way to help lock in one of your highest recurring monthly expenses. While your mortgage can still fluctate with the economy you won't have to worry as much about huge jumps in costs. Owning a home also allows you to build equity, providing a means to grow your overall wealth over time.
Buying May Be More Affordable
While up front costs may be more, your payments month to month may be more affordable than renting a home. In many cases not only will owning a home save you money versus renting, it also generally provides more room for the cost.
You Can Make It Truly Yours
No more asking permission, no more dealing with features you don't like. You want a different color in the den? You get a different color! You want new cabinets? You can have new cabinets! When you own your home you don't have to get permission from the landlord to make your home look the way you want.
It's HOT! Summer is taking it's time strolling through Idaho and the temperatures are up. While heat stroke and heat exhaustion are very real dangers everyone should be aware of, there's no reason why you can't still enjoy the long days of Summer with a little creative planning. We know how fun this time of year is, so we've put together some helpful tips to keep you cool!
Get Out Early - Or Go Out Late
The best time to enjoy a little coolness is the early morning! Not everyone likes getting up with the chickens, but it guarantees that you will have time to be outside before it gets too hot. Fortunately, since the days are long you can also opt to go out late in the evening depending on your chosen activities.
Go Jump in the River!
Nothing personal, but it's great advice! There's nothing like jumping in the rushing water to cool off quick. Even in high Summer the mountain rivers stay nice and cold, so don't be bashful about taking a dip.
Bring Your Own Pool Party!
We love this idea! Get your friends to all bring their own "warshing tubs" or kiddie pools and set them out on the lawn for a BBQ! It's a great way to stay nice and chill while you chill.
Head For the Hills!
We feel sorry for all the folks living down in the valley surrounded by all the steaming hot concrete! Getting up into the hills is almost guaranteed to offer slightly cooler temperatures as well as some much needed forest shade.
Don't let the heat ruin your Summer! There's till plenty of time to get out and enjoy the outdoors, even when it's hot. We would love the opportunity to show you why we love calling Garden Valley home (and know you will too!), so give us a call!
So, Summer changed your plans and instead of putting your home for sale on the market in Idaho you’ve got other plans that won’t wait. Might be work, might be family - who knows - life is what is happening while you’re making other plans as the saying goes. Regardless, you’re looking at being in your current home for a little while longer and have decided to put that extra time to good use by doing some renovations - but you’ve heard that some upgrades can actually harm the value of your house. Not to worry, Garden Valley Properties is here with some tips to help you avoid costly renovation mistakes!
Underestimating Your Budget
You’re bound to have watched a few of those fix it and flip it shows on TV by now; it’s also no doubt that you’ve noticed how often things run over budget. Well, that’s actually a little real reality in the reality shows - even simple renovations can go over budget. A good way to handle this is to plan plan plan, get solid quotes whenever possible, and set aside a little extra just in case.
Overestimating Your Skill
Hey! I know how to use a saw! How hard could it be?!
Uh, yeah, stop right there! THIS is what we’re talking about. In many cases, yes, you may have the needed skills to install new doors, or paint the walls, or even more complicated renovations. That said, it’s easy to get in over your head and the professionals you have to end up hiring anyway will likely charge to fix your mistakes. Another important thing to consider is that some renovations to your home may require permits, licenses or special approval to be done, so consider hiring a pro.
Just Going For It!
Swing that hammer with wild abandon! Knock down those walls! Tear out that floor!
Whoooaaa nelly! Before you start making radical changes, be sure to sit down and make a plan. Consider how the changes you want to make may change the value of your home when it does come time to sell, as well as what the costs and timelines for these changes will be.
Not Asking for Help
Renovating even a single room of your home can be a real challenge depending on what you want to do. If it’s something you decide to take on your own, don’t let it get to the point where it’s completely overwhelming - if you get stuck, ask for help! Even if you ask for help before you start, talk to your friends and neighbors who have done similar projects and see how it went.
More than just being there during the purchase or sale of your home in Idaho, Garden Valley Properties wants to be part of you being happy in your home while you’re living in it too! If you have questions about renovating, or about real estate, don’t hesitate to get in touch!
As we draw National Homeownership Month to a close we thought it would be nice to talk about how owning a home impacts you. A home is more than just a space you occupy - it gives you a place to BE. So, if you’re thinking about buying a home this year but aren’t sure, here are some benefits to owning your own place!
Because your new home is 100% yours in ways that previous accommodations through renting or leasing were not, it allows you the freedom to express yourself! We’re not telling you green shag carpet goes with those magenta drapes, but no one is telling you not to make your home look how you want it to!
With rising rent rates across the country many people face uncertain times. Owning your home is one way to protect yourself against large market fluctuations as well as economic trends. A home of your own provides a solace during difficult times.
Connect to Your Community
Owning a home in a town, city, or village makes your part of the local flavor! You might be surprised to find yourself taking an interest in civic activities and finding new opportunities to enhance your joy of living just by embracing your new place.
Building Your Wealth
It’s a fact, owning real estate is still one of the best ways to grow long term wealth. Wealth that you can use to better your life and even pass on to future generations. More than just money in the bank through equity, owning a home increases your overall net worth more than 40 times that of a renter.
The market is as hot as July in Idaho! You may not be sure if it’s time to buy - or time to sell! The good news is, Garden Valley Properties is here to help you make your next move the right one. Get in touch with our team of Idaho mountain real estate experts to find out all we provide!
If you've been thinking about selling your home in Idaho but have been putting it off, chances are it's because you're just not sure if the time is right. Well, according to recent market data that sweet spot for selling may be NOW. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae finds that 76% of consumers believe now is the right time to make the move - in fact, it's likely an even better time to sell than it was before the pandemic. But WHY?
It all comes down to the rules of supply and demand. Idaho real estate inventory is still extremely low; that makes the homes on the market in higher demand. Generally speaking as the year goes on more and more homes hit the market, making for more competition, and so it's often true that listing in Spring and Summer are the optimal seasons.
In addition, there are still more buyers looking for homes than homes being listed, meaning that the buyers are very motivated to find and close on a house quickly to keep from potentially losing it to another party.
But the market is changing! As the economy faces unique challenges many people are puting a hold on their spending as cost of living expenses rise. Interest rates are also looking to go up over the next year, so chances are this may be the best time to sell OR buy.
Are you unsure if it's time?
We would love to talk to you about your current situation, your needs for a new place, or how we can help you prepare your current home to sell on the market. Get in touch today to find out more about all we can do to make your next move EASY!