The Benefits of Buying a New Construction Home in Boise, ID

Are you thinking about buying a home in Boise, Idaho in the near future? If so, you have a lot of choices when it comes to the type of property you purchase.

The Boise real estate market offers a wide range of housing options, including historic homes, new construction, detached homes, condos, townhomes, and more.

All of these options have their pros and cons. But the benefit of new construction homes outweigh the downsides for buyers more often than not.

This guide explains some of the benefits of buying a new construction home in Boise, instead of an existing (and older) home.

How Many New Homes Are There in Boise?

Here’s some good news for home buyers seeking a newer property in the Boise area. This real estate market offers a lot of options when it comes to new construction.

To illustrate this, we conducted an informal analysis using the Realtor.com website. We pulled up listings for Boise, Idaho along with surrounding cities like Meridian and Eagle.

• Total listings including all property types: 2,904
• Listings for new construction homes: 1,148

Based on these results, about 39% of the active real estate listings were for new construction homes in particular. That’s a higher percentage than many U.S. metro areas.

The bottom line: If you want to buy new construction in the Boise metro area, you should have plenty of properties to choose from.

Local Boise Market Trends

Boise’s real estate market reflects a high demand for new construction homes, largely due to population growth and an ongoing housing shortage. Understanding Boise’s market trends reveals why new construction is an appealing option for homebuyers.

Here are some key trends driving demand for new construction in Boise:

• Population Growth and Housing Demand: Boise’s population has consistently grown over the past decade as people relocate from high-cost areas in search of affordable living, scenic surroundings, and a better quality of life. This influx has put upward pressure on housing demand and prices, prompting an increased interest in new construction as an available housing solution.
• Housing Inventory and Competitive Market: Boise’s housing inventory remains relatively low, contributing to higher competition among buyers. New construction homes help fill this gap, offering buyers options without the bidding wars typical of existing home sales. This inventory shortage is one reason new construction homes are increasingly viewed as valuable investments.
• Pricing Trends: Boise has experienced rapid appreciation in home values, though recently price growth has leveled off, making it a more favorable entry point for new buyers. New construction homes, with their lower maintenance costs and energy efficiency, may appeal to those looking for long-term investment stability.

Advantages of Buying New Construction

Purchasing a newly built home offers many advantages. It’s like the housing equivalent of the “new car smell,” where you get all of the latest and greatest features. Here are some benefits of buying a new construction home in Boise:

1. An Opportunity for Customization

One major benefit of new construction is the chance for personalization. If you’re involved in the building process early on, you can often choose finishes, fixtures, and sometimes even the layout of your new home.

Unlike purchasing a pre-owned home, where you have to accept the previous owner’s choices, a new build lets you tailor the property to fit your style and needs from the start.

2. Modern Technology and Smart Features

Many new homes come with built-in smart home features in Boise. These cutting-edge features include advanced climate control, energy monitoring, security systems, voice-activated controls and more. They can improve your home’s comfort and efficiency.

3. Energy Efficiency

New homes in Boise are designed with energy efficiency in mind. That’s a major advantage in a place like Boise, which can experience cold and sometimes snowy conditions in winter.

New construction homes are often built with advanced materials and updated building practices. This can include superior insulation, energy-efficient windows, and environmentally friendly appliances.

As a result, homeowners of energy efficient homes in Idaho can save on heating and cooling bills, making new construction more economical in the long run.

4. Lower Maintenance Costs

In Idaho, homeowners spend an average of around $15,700 per year on home maintenance, according to a study by Porch.com. This is often referred to as the “hidden” cost of homeownership, because a lot of new homeowners don’t expect it or plan for it.

But a lot of those costs come from existing homes with older features that have worn out, failed, and fizzled.

New construction homes, on the other hand, typically come with lower maintenance needs. That’s because everything is brand new, from the roof to the foundation and all things in between.

In fact, if you end up buying a new construction home in Boise, you might not encounter any major repair expenses for many years. This offers a financial peace of mind that you just can’t get from older houses.

5. Up-to-Date Safety and Building Codes

New construction must adhere to the latest building codes. These codes are frequently updated in order to improve safety standards.

This includes requirements for electrical systems, plumbing, fire safety, and structural soundness, all designed to meet rigorous safety criteria.

For Boise home buyers, purchasing new construction ensures that the home has been inspected at every stage of the building process. This gives you additional peace of mind, while also protecting your investment.

6. Potential Builder Incentives

To attract buyers and sell homes, many Boise-area builders offer incentives such as:

• Preferred lender partnerships: Builders often collaborate with specific lenders, providing buyers with competitive interest rates or reduced closing costs.
• Closing cost assistance: Some builders may cover part or all of the closing costs, helping buyers save thousands of dollars up front.
• Upgrades and discounts: Builders sometimes include complimentary upgrades or offer discounts on high-end finishes and features, like upgraded countertops, luxury flooring, or premium appliances.

These incentives could lower the overall cost of homeownership and/or reduce the buyer’s out-of-pocket expense.

4. Potential ROI of Buying New Construction Properties in Boise

New construction homes in Boise, Idaho, are increasingly seen as promising investments. Boise’s population growth and economic development have driven demand for housing, which has contributed to rising property values over the years. This trend suggests that new construction homes can appreciate over time, offering buyers the potential for equity growth.

For those considering investing in Boise’s real estate, new construction homes provide not only a place to live but also the potential for long-term financial benefits due to these market dynamics.

Potential Downsides to Consider

As you can see, there are many compelling benefits to buying a new construction home in the Boise area. But there are a few (potential) downsides to consider as well:

• Higher prices: New construction homes often come with a premium price tag due to the modern features and materials mentioned above.
• Limited negotiation: A builder might have less flexibility in negotiating the sale price, when compared to individual sellers of existing homes.
• Construction delays: Weather, supply chain issues, or labor shortages can lead to delays in construction timelines.
• Lot size: New developments may prioritize space utilization, resulting in smaller lots and less privacy.
• Homogeneity: New construction can lack the unique character and charm often found in older homes.

But for many home buyers in Boise, the benefits of buying new construction far outweigh the possible disadvantages. Ultimately, you have to choose the type of home that best suits your budget, goals, priorities, and personal tastes.

Need Financing in Boise?

If you’re looking to buy a home in Boise, ID and are in need of financing, we can help. At Sammamish Mortgage, we’ve been helping borrowers in the Pacific Northwest since 1992, and we’d love to help you too. Visit our website to get an instant rate quote, or speak with one of our experts to have your questions answered and get started on the road to financing your new home!