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Purchasing an Investment Property in Idaho

Investment properties in Idaho can be a great way to earn extra income, and with interest rates at historically low levels many people may be considering purchasing their first rental property, purchasing additional rental properties, or they may choose to move into a new home and use their existing home as a rental property. Rooftop Real Estate understand market throughout Idaho, such as Idaho Falls, Pocatello, Blackfoot and Rexburg. We can help answer your questions and even better…We will share our “HOT BUY” list of the best properties available.

Property Management Idaho | Rooftop Real EstateRegardless of your property investment goals, several factors will go into making this decision including an evaluation of the housing market in your area, the rental market, required maintenance or repairs, and how long you intend to own the property. Chandler Daw, Rooftop Real Estate owner, can work directly with you to help answer these questions.

Evaluate the Housing Market

Interest rates are historically low, and depending on where you live, the market may be shifting from a buyer’s market to a seller’s market. In many areas demand has increased, inventories have declined, and more people are in the market due to historically low interest rates, causing home prices to rise.

Despite potentially rising home prices, you may be able to qualify for a low interest mortgage, offsetting rising home prices. Or, if you live in an area with less demand for permanent housing but potential demand for rental housing, now may be the best time to strike.

Consider Rental Income Potential in Idaho

How much you will be able to charge for rent should be considered in-hand with the housing market. We are constantly evaluating the Idaho rental market—is there a shortage of rentals? Are rent prices in line with what you expect to receive for your property? Are there other factors driving a need for rental properties, such as a growing university or a new employer coming to town?

You’ll want to ensure that you will be able to charge a fair rent but also be able to make a profit on your rental property.  Rooftop Real Estate is a premier property Management company in Idaho that  will be able to offer insight into current housing trends and forecasts for your community.

You’ll need to develop realistic expectations for your monthly expenses related to the future rental property. Consider any maintenance costs, property taxes, insurance, marketing, advertising and repairs that will need to be made before a tenant can take residence. Rooftop Real Estate is a property management company that can help you minimize expenses and save time all while helping you maximize returns on your Idaho Property Investment.

Consider the Property’s Features and Rental Appeal

A general rule of thumb is to never purchase a rental property you would not be willing to live in yourself. Lower priced properties may be appealing, but if you’re not careful you may end up stuck with a property in poor condition or in a bad neighborhood.

Several things should be considered before purchasing an investment property. You will want to evaluate how close the property is to major roadways, services and amenities. Renters will often evaluate the property based on it’s proximity to work or school, the grocery store, shopping.

Also consider the property itself. Compare it to similar rental properties in the area considering size, the number and size of bedrooms and bathrooms, and kitchen amenities. Renters will consider all these things when shopping around for a rental.

Deciding Whether to Purchase an Investment Property in Idaho

A lot goes into deciding whether you should purchase a new Idaho rental property investment. The experts at Rooftop Real Estate Management will be able to assist and guide you throughout the process. We have valuable knowledge pertaining to your community’s market value — We’d love to help you find the perfect investment property in Idaho.