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.


Get help right away

 

Trey Langford Boise Idaho

 

Trey Langford
Client Care
(208) 422.2707
Email 


Home Loan Information

Guild Mortgage Company - Meridian_ID

Guild Mortgage NMLS#3274
The Heffner Group NMLS#95796

Do you qualify for a home loan? How much can you afford?

   Email  | 208.901.3822 | Apply

 


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