Boise Idaho Real Estate: Build or Buy in Boise, ID
Fun Facts about Real Estate In Boise, ID


Boise Metro had a net in-migration of over 15,718 in 2013. That is new people who now reside between Boise and Nampa areas. 9.29% increase from 2012
Average Home Values in 2013 were up $31,821 from 2012
7,957 home sold through MLS in 2013, One in Five were new homes
Average new home was $60k more than used home.


 
 

2013 New Home Trivia:
One new home sold for over $1Million. What community was it in?
What community sold the most new homes?
What was highest price per square foot for a new home?

View  New Home Sales Report

Boise Real Estate Costs

Median Price (2013): Existing Homes:  $183,000 New Construction: $264,688
Average Price (2013): Existing Homes:  $221,288 New Construction: $280,869

Timing:

Average # of Days On Market (2013): Existing Homes: 51 New Construction: 53


Boise Neighborhood Real Estate Costs Average Cost Per Neighborhood (2013):

 

 SE Boise  

  • New Construction: $267,564
  • Existing Homes: $231,768

NE Boise

  • New Construction: $397,743
  • Existing Homes: $350,847

North Boise

  • New Construction: $371,755
  • Existing Homes: $296,345

South Boise

  • New Construction: $232,666
  • Existing Homes: $200,928

SW Boise-Meridian

  • New Construction: $208,776
  • Existing Homes: $191,799

Boise Bench

  • New Construction: $220,000
  • Existing Homes: $154,048

Garden City

  • New Construction: $274,506
  • Existing Homes: $195,707

W Boise-Garden City

  • New Construction: $316,495
  • Existing Homes: $184,285

West Boise

  • New Construction: $173,521
  • Existing Homes: $156,034

NW Boise

  • New Construction: $265,205
  • Existing Homes: $232,158

SW Boise-Meridian

  • New Construction: $208,776
  • Existing Homes: $191,799

SE Meridian

  • New Construction: $257,408
  • Existing Homes: $245,872

NE Meridian

  • New Construction: $272,826
  • Existing Homes: $205,847

NW Meridian

  • New Construction: $294,849
  • Existing Homes: $190,359

SW Meridian

  • New Construction: $325,848
  • Existing Homes: $305,285

Eagle

  • New Construction $378,952:
  • Existing Homes: $376,616

Star

  • New Construction: $245,759
  • Existing Homes: $233,863

Kuna

  • New Construction: $200,107
  • Existing Homes: $160,320

General Things to Consider When Deciding to Build or Buy
Top Points of Consideration

Cost

Building:

Pro: The extra $$ upfront in a new home usually = less ongoing $$ to make updates.
Con: Building a new home can cost more per square foot than buying used.

 

Buying:

Pro: Older homes usually cost less than buying new.
Con: Older homes usually cost less than buying new.

Timing

Building:

Pro: When building a new home you get to make decisions regarding timeframe.
Con: Building can be put on hold due to weather and other unexpected delays.

Timing

 

Buying:

Pro: When buying an older home, you can make an offer and usually know if you got it within a week.
Con: Sometimes you have to overturn a lot of stones to find a diamond.

 

Repairs

Pro: New homes require less repair & maintenance due to the stricter codes builders adhere to nowadays.
Con: All houses do it. Yours will soon settle, and cause cracks.

Neighborhood

 

 

Buying

Pro: Most older homes have been built to last and can withstand the test of time.
Con: Older homes can need constant repairs and may require many updates to add modern conveniences.

Neighborhood

Building:

Pro: When building a new home, you can often select the neighborhood you want to live in.
Con:Building a hem requires land which is usually further out from city center, making a further commute into town.

Buying:

Pro: Older homes are in established neighborhoods which are usually closer to city center.

 

Con:Sometimes older neighborhoods can be rundown & may have an undesirable mix of neighbors.

 

Energy Efficiency

Building:

Pro: Most new homes are becoming greener; making heating, ac ad electricity costs lower.
Con: The initial setup to make your house green can cost a pretty penny.

 

Buying:

Pro: Many older homes were made to use as much natural lighting as possible which cuts down costs.
Con: Older homes loose heat easier, often through things like cracks and outdated windows.

Space Indoors

Building

Pro: Indoor space is more likely to come standard in newer homes than older ones.
Con: The cost per square foot can be high and sometimes the extra space is wasted.

Space

 

Buying:

Pro: The living space of older homes typically costs less per square foot than in a newly built home.
Con: On average, older homes have smaller square foot of indoor space.

Outdoor Space

Building

Pro: Newly build homes typically have smaller yards making landscaping and maintenance easier
Con: New homes often don't have established grass or landscaping making extra work initially for the homebuyer.Outdoors

 

Buying:

Pro: Older existing homes usually have bigger lots of land, so you have a bigger yard to enjoy.
Con: Larger lots require more work to landscape and maintain. Older homes are less likely to have a garage or shed than newer homes.

Design

Building

Pro: New homes have the modern conveniences and open layout plan most people want now.
Con: Many newly build homes have very similar cookie cutter designs.

 

 

Buying:

Pro: Older homes are known to have more character and charm.
Con:Con: A lot of older homes were built more closed off and separated.

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