MARCH 2020
BoiseLifestylePubs.com
HOME EDITION
BOISE, IDAHO 2020 VISION OF SUCCESS
BUILDING ON THE FUTURE OF BOISE
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Luxury Marketing at Every Price Point PAT T I
COLE
ASSOCIATE BROKER TOP PRODUCER
208.861.5061
913 W. River St, Suite 300 Boise, ID 83702 pcole@grouponesir.com
The secret is out - Boise and the vast, beautiful canvas of the Treasure Valley has been discovered. If it is time to sell your home or investment properties don’t leave anything to chance. Your home is more than a building or an address and I take the time to listen to what you want to accomplish. Services that are provided when represented by Patti Cole – Only at Group One Sotheby’s International Realty: • An extensive marketing plan, including print, social media and exclusive Sotheby's promotion • Weekly Idaho Statesman advertising, plus select local and regional publications • Professional 4D virtual tour, including drone and area points of interest • Professional photos, marketing material and signage • Professional staging or staging consultation* • Weekly open houses with qualified, licensed agents • Commitment to you and your goals
Whether new to Boise or an Idaho Native, you deserve service that goes far beyond a standard agent. Choose Patti Cole – Only at Group One Sotheby’s International Realty.
* Professional Staging includes up to 4 rooms for up to 3 months, unless otherwise specified MMXIX Sotheby's International Realty Affiliates LLC. All Rights Reserved. Sotheby's International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby's International Realty and the Sotheby's International Realty logo are registered (or unregistered) service marks licensed to Sotheby's International Realty Affiliates LLC. Š
Building hope and homes in Oregon, Washington, and Idaho
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LIFESTYLE LETTER
MARCH 2020 PUBLISHER
Vince Gewalt | Vince.Gewalt@LifestylePubs.com EDITORIAL COORDINATOR
Greg Gewalt | Greg.Gewalt@LifestylePubs.com
A New Beginning
Charles Knowles | knowlesgallery@yahoo.com
DEAR READERS AND ADVERTISERS,
Kendall Houlton | KendallHoulton@gmail.com
STAFF PHOTOGRAPHER
SOCIAL MEDIA COORDINATOR
AD DESIGNER
This month’s Lifestyle special Home Edition also signals a new beginning for me as its publisher. For 35 years I have been active in marketing and sales of both print and online advertising. (26 years in the Treasure Valley.) For the past 3 years, I worked with Richard Meyer on the development and growth of the Boise and Meridian Lifestyle Magazines. With his retirement from the Lifestyle publications, I am stepping into his shoes, welcoming the expanded responsibilities as the new owner and publisher. Additionally, my brother Greg has become the publisher of the Meridian Lifestyle Magazine; the two publications, therefore,
Whitney Lockhart LAYOUT DESIGNER
Dani Moore CONTRIBUTING WRITERS
Hayden Seder, Yvonne Frauenfelder, Kendall Houlton, Greg Gewalt CONTRIBUTING PHOTOGRAPHERS
Charles Knowles
becoming a family affair, with a combined 70-years media experience. Boise, growing by leaps and bounds, is becoming the destination of choice for many people and companies. In this edition we are featuring some of the people and businesses that helped Boise earn “Realtor.com” the number 1 spot as the housing market best positioned for growth in 2020. You will get to know some of our premier builders in the valley, while learning the reasons for the attraction of new residents to our area’s communities.
CORPORATE TEAM CHIEF EXECUTIVE OFFICER Steven Schowengerdt CHIEF SALES OFFICER Matthew Perry CHIEF FINANCIAL OFFICER DeLand Shore ART DIRECTOR Sara Minor OPERATIONS DIRECTOR Janeane Thompson AD MANAGER Chad Jensen REGIONAL SALES DIRECTOR Eric Williams
Greg and I have some exciting plans for the Boise and Meridian Lifestyle Magazines
WEB APPLICATIONS Michael O’Connell
and our combined 160,000 readership, including a newly designed website and enhanced social media presence. I am looking forward to continuing my relationship with the readers and, of equal importance, with the advertising family of our city. If you have a good story to tell, I would love to hear from you. Please email me at vince.gewalt@lifestylepubs.com. With my thanks for your continued partnership,
ARIZONA | CALIFORNIA | COLORADO | CONNECTICUT | FLORIDA | GEORGIA IDAHO | ILLINOIS | KANSAS | MARYLAND | MASSACHUSETTS | MICHIGAN MINNESOTA | MISSOURI | MONTANA | NEVADA | NEW JERSEY | NEW YORK NORTH CAROLINA | OHIO | OKLAHOMA | OREGON | PENNSYLVANIA SOUTH CAROLINA | TENNESSEE | TEXAS | VIRGINIA | WASHINGTON
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BoiseLifestylePubs.com ON THE COVER A New Dawn Over Boise PHOTOGRAPHY BY CHARLES KNOWLES 6
Boise Lifestyle | March 2020
Proverbs 3:5-6 Boise Lifestyle™ is published monthly by Lifestyle Publications LLC. It is distributed via the US Postal Service to some of the Boise areas’ most affluent neighborhoods. Articles and advertisements do not necessarily reflect Lifestyle Publications’ opinions. No portion of this magazine may be reproduced in any form without written consent. Lifestyle Publications does not assume responsibility for statements made by advertisers or editorial contributors. Information in Boise Lifestyle™ is gathered from sources considered to be reliable, but the accuracy of all information cannot be guaranteed.
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March 2020 | Boise Lifestyle
7
INSIDE THE ISSUE MARCH 2020
FEATURES 10 Personalizing Your Home For Your Specific Needs There’s an Advantage of Remodeling Instead of Moving
16 Building the Future of Boise Introducing Builders Contributing to a Lifestyle we all Have Come to Enjoy
32 Boise 2020 Vision of Success
16 32
42 Investment Property A Great Time to Invest in Treasure Valley Rental Property
42
10 DEPARTMENTS 6
Lifestyle Letter
10
Inspired By
16
Open House
30 Artist’s Palette 38 Lifestyle Calendar 42 Financial Buzz
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March 2020 | Boise Lifestyle
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INSPIRED BY ARTICLE PATRICIA DUNLOP
PERSONALIZING YOUR HOME FOR YOUR SPECIFIC NEEDS
THE GREAT ADVANTAGES IN REMODELING INSTEAD OF MOVING
Patricia Dunlop, Fine Kitchens & Baths
10
Boise Lifestyle | March 2020
I HAVE A DEGREE IN INTERIOR DESIGN AND PREVIOUSLY
WORKED
IN
COMMERCIAL
INTERIOR AND HOTEL DESIGN AND PROJECT MANAGEMENT IN SOUTH EAST ASIA, NEW ZEALAND AND CANADA. I got involved in kitchen and bath design work when I moved to Boise in 1995 as there weren’t many 5 star hotels here at the time. I became a Certified Master Kitchen and Bath Designer (CMKBD) in 2011. This certification is from the National Kitchen and Bath Association (NKBA) and is based on education, experience and examination. I am also a Certified Aging in Place Specialist (CAPS) as all spaces should be able to be accessed by people of all ages, sizes and abilities. Most people remodel because they love their neighborhood and don’t want to move. Their house is tired and/or non-functional and they want to have their spaces work for them and reflect their lifestyle and personalities. Another trigger for a remodel can be retirement: suddenly they are spending a lot more time at home - and maybe now in the kitchen - and they find their current space frustrating. While I specialize in kitchen and bath remodel, I can help with any part of the house, involving cabinetry. The standard concern about remodeling is that it will take twice as long and cost twice as much as you expect. It is, indeed, a major undertaking and it can represent quite an investment. Your life is disrupted and you have to make all kinds of decisions and selections. That is why using a designer can really help. You don’t have to make any of those decisions on your own, you have someone to narrow down the choices, make recommendations and guide you through the process. A reputable contractor will also make the process much easier and speedier. The National Association of the Remodeling Industry (NARI) is a good place to start looking for a contractor.
CONTINUED >
March 2020 | Boise Lifestyle
11
INSPIRED BY (CONTINUED)
THE FIVE ELEMENTS I HAVE CHOSEN ARE:
PERSONALITY/STYLE: This is one of the great advantages in remodeling instead of moving, you get a space that reflects
FUNCTION/LAYOUT/FLOW: this is the most fundamental
you. A good designer will work with you to determine how you
part of the reason to remodel. If your kitchen or bathroom
want the space to feel and look and then pull it all together to
doesn’t work for you, don’t bother painting the existing cabi-
create a successful, cohesive environment. There are so many
nets or replacing the countertops, that is throwing good money
choices out there, so many new materials and styles, having
after bad. Moving appliances and plumbing is not as expensive
a designer to help you sort through all of that is invaluable.
as you think and can make a huge difference in how the area
They can also help you make selections that will stand the
functions. This is where an experienced designer can help you
test of time. While white kitchens are a classic, they may have
see the possibilities of a space. Many people are familiar with
peaked and wood stains are making a comeback. Designs are
the work triangle, which was developed when kitchens were
definitely cleaner and simpler, leaning towards contemporary.
separate spaces used only by the woman of the house. Today
And the finished product should reflect you, not the designer!
we have multiple cooks, of different ages, sizes and abilities, who want to be in the kitchen, which has become a main social
STORAGE: We all have so much stuff! We need to be able
space of the home. We now think of kitchens in terms of zones:
to store it and access it easily, or it becomes a major source of
storage, prep, cooking, serving, cleaning up etc. that can allow
frustration. There are a lot of options that will render kitchen
several people to work at the same time. An in depth interview
and bathroom cabinets more accessible and more functional.
with the main users will help the designer understand how you
Of course, one of the great things of a remodel is the opportu-
use the space and how you would like it to function.
nity to go through ALL your kitchen and bath stuff and hope-
“TODAY WE HAVE MULTIPLE COOKS, OF DIFFERENT AGES, SIZES AND ABILITIES, WHO WANT TO BE IN THE KITCHEN, WHICH HAS BECOME A MAIN SOCIAL PLACE IN THE HOME.”
fully just keep the things you really use. That said, almost all kitchen remodels end up having more storage than the original kitchen and definitely more accessible storage. If you are not in a position to undertake a full remodel, adding pull out racks or roll out shelves to your existing cabinets make a big difference. LIGHTING: This is a critical, but often neglected element of a space. All the beautiful materials in the world aren’t much good if you can’t see them! There are three basic types of lighting in a space: ambient, task and accent. It is useful to think in terms of layers when developing the lighting for a space. In a kitchen
In bathrooms we want it to be efficient and functional when
task lighting is often absent and adding “undercabinet” light-
you are getting ready for the day, but also to be able to allow
ing is one of the easiest and most transformative changes you
you to relax and disconnect at the end of the day. The colors
can make. With LED lighting, there are endless possibilities for
and materials used can help create a spa like environment and
interesting, effective and efficient lighting.
the layout and storage make it a more functional space. So many homes have the big spa tub that never gets used and
TECHNOLOGY: While not specific to remodels, building technol-
the little shower that gets used everyday. Most people want
ogy and particularly the connectivity of appliances is advancing
a bathroom to have a great shower and then, if there is room,
rapidly. Soon your fridge will tell you that you need to cook that
they may want a nice soaking tub. As long as there is one
meat that has been in the fridge for a few days, and the recipe will
tub in the house, there doesn’t have to be one in the master
instruct your stove top and pan and tell you when it is time to put
bathroom, but a good shower is a must.
the meat on and when it is cooked to your liking. Building tech-
The National Kitchen and Bath Association has developed
nology is in the bathroom as well, featuring computerized shower
planning guidelines to aid in the safe and effective planning
settings with audio, baths with aromatherapy and vibracoustic
of kitchens and bathrooms. They address issues such as dis-
massage, heated floors in showers and TVs in bathroom mirrors.
tances and spaces between functions, relationships between work areas, heights of different elements in the space, lighting,
To learn more or contact Patricia visit www.nkba.org and her
storage, and code and accessibility issues.
personal website, www.finekitchens-baths.com
12
Boise Lifestyle | March 2020
March 2020 | Boise Lifestyle
13
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Boise Lifestyle | March 2020
Small Changes Big Impact !
NEST
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N E S T Too!
The Village At Meridian Meridian, Idaho
www.thenestboise.com
March 2020 | Boise Lifestyle
15
OPEN HOUSE
building the
future of boise
TOP: Sherburne-Marrs Homes BOTTOM: Luxury Homes of Idaho
WE INTRODUCE YOU TO BUILDERS WHO BY THEIR TALENTS AND ATTENTION TO THE LATEST DETAILS, CONTRIBUTE MEANINGFULLY TO A LIFESTYLE WE ALL HAVE COME TO ENJOY. ARTICLE KENDALL HOULTON
16
Boise Lifestyle | March 2020
THE HOME BUILDERS OF THE TREASURE VALLEY ARE A BUSY LOT. Boise and its adjacent cities, such a Meridian and Eagle, are growing by leaps and bounds, attracting people from all over the country. And these future residents are in need of housing, both large and small. Thanks to the home builders of this area, attractive and architecturally pleasing residences have been developed for them. The choices are manifold and tailored to the desires of both growing families and empty-nesters, or retirees. The Boise Lifestyle magazine is proud to introduce you to the members of this most important trade industry, who by their talents and attention to the latest details, contribute meaningfully and significantly to a lifestyle we all have come to enjoy. (*Editor’s note: Answers edited to accommodate space limitations.)
TOP: Clark & Co Homes BOTTOM: Solitude Homes
CONTINUED >
March 2020 | Boise Lifestyle
17
OPEN HOUSE (CONTINUED)
Jared Sherburne, Sherburne-Marrs Builders
Greg & Courtland Coman, Luxury Homes of Idaho
SHERBURNE-MARRS HOMES
Q - ARE LARGER HOMES STILL THE RAGE OR NOT? A - Truly varies from client to client.
Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
Q - HOW DID YOU GET INTO THE BUSINESS?
COMING FROM? ARE THEY YOUNG FAMILIES OR
A - I was brought up in the construction and new home
EMPTY NESTERS?
industry and was blessed enough to get to learn the build-
A - The buyers are coming from the Pacific Northwest and
ing business from Mike Marrs at a young age.
California. Our attention to detail and quality seem to be
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
best suited to empty nesters.
AS
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
LOOKING FOR?
ANT WITH BUYERS?
A - Truly varies from client to client
A - Without a doubt!
Q - ARE KITCHENS AND BATHROOMS STILL ON TOP OF
Q - ARE CASH BUYERS STILL OUT THERE?
PEOPLE’S LIST OR IS IT MULTIPLE BEDROOMS, GAME
A - Absolutely, our clients are mostly all cash.
ROOMS, OUTDOOR LIVING SPACE, WINE CELLARS?
Q - DO YOU SELL YOUR OWN HOUSES OR THROUGH
A - Certainly kitchens and bathrooms are still at the top, but
REAL ESTATE OFFICES?
outdoor spaces seem to be a focus as well.
A - Lane Ranstrom with Epic Realty and his Team sell
Q - DO BUYERS WANT ENERGY EFFICIENT HOMES
most homes.
SUCH AS SOLAR PANELS?
Q - TELL US YOUR STORY
A - We are very rarely asked about energy efficient features.
A - A sole proprietor of Sherburne-Marrs, LLC, and a sec-
Q - HOW MUCH IS THE AVG. SQ FT COST TO BUILD
ond-generation Idaho Developer/Builder and sixth generation
A HOME TODAY VS 5 YEARS AGO? ARE MATERIALS
Idahoan, building homes in the Treasure Valley since 1998.
COMMUNITY
CLUB
HOUSES,
COST GOING UP? A - In the last five years, building costs have risen pretty close to $100 psf. 18
Boise Lifestyle | March 2020
Website: Sherburne-Marrs.com
SWIMMING
Suttle Lake, Boise Hunter Homes
LUXURY HOMES OF IDAHO Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
people value. Bigger isn’t always better when it comes
COMING FROM? ARE THEY YOUNG FAMILIES OR
to a custom home.
EMPTY NESTERS?
Q - HOW DID YOU GET INTO THE BUSINESS?
A - As of late, our clientele has consisted of mostly out of
A - I started building houses in Boise in the early 90s and
state buyers looking for premier, higher end homes.
I was always drawn to it. After college I worked in project
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
management in New York City for 6 years and found the
LOOKING FOR?
skill set was very similar and overlapped with the process
A - Every client is different, and different people value dif-
my dad had mastered in Boise.
ferent things, so it really just depends on the clients per-
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
sonal tastes. Some common areas we’ve seen people put
AS
extra effort into are cabinetry, natural stone and extensive
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
use of hardwood.
ANT WITH BUYERS?
Q - ARE KITCHENS AND BATHROOMS STILL ON
A - Again everyone is different, some people couldn’t
TOP OF PEOPLE’S LIST OR IS IT MULTIPLE BED-
care less about a community swimming pool or gym.
ROOMS, GAME ROOMS, OUTDOOR LIVING SPACE,
Q - ARE CASH BUYERS STILL OUT THERE?
WINE CELLARS?
A- Yes, they most certainly are.
A - Outdoor living space is definitely emphasized, and we
Q - DO YOU SELL YOU OWN HOUSES OR THROUGH
are still seeing a lot of wide open plans with kitchen and
REAL ESTATE OFFICES?
great rooms sort of blending into one another.
A - Usually via real estate offices. Missy Coman real
Q - DO BUYERS WANT ENERGY EFFICIENT HOMES
estate broker at Keller Williams. They do a fantastic job
SUCH AS SOLAR PANELS?
with everything.
A - Yes, people usually want to be as efficient as possible...
Q - TELL US YOUR STORY
but not necessarily solar panels.
A - I grew up in Boise and have watched it transform
Q - HOW MUCH IS THE AVG. SQ FT COST TO BUILD
into what it is today. Our family is 5th generation (I think)
A HOME TODAY VS 5 YEARS AGO? ARE MATERIALS
Idahoan so we really really care about the direction of
COST GOING UP?
our state and more specifically our city. It’s exciting, and
A - Everything is going up. I would say it is probably 30%
we’re lucky to be a part of it. I think building a truly custom
higher than it was 5 years ago.
home is a process that should be fun for the owners.
COMMUNITY
CLUB
HOUSES,
SWIMMING
Q - ARE LARGER HOMES STILL THE RAGE OR NOT? A - Not necessarily. I think we’ve seen a shift in what
Website: luxuryhomesofidaho.com
CONTINUED >
March 2020 | Boise Lifestyle
19
OPEN HOUSE (CONTINUED)
Dan & Emily Clark, Clark & Co. Homes
Cody Weight and Family, Solitude Homes
CLARK & CO HOMES
Q - ARE LARGER HOMES STILL THE RAGE OR NOT? A- Most of our clients aren’t interested in building homes
Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
with rooms they hardly use.
COMING FROM? ARE THEY YOUNG FAMILIES OR
Q - HOW DID YOU GET INTO THE BUSINESS?
EMPTY NESTERS?
A - Dan and Emily established Clark & Co Homes in 2011
A - California and Washington and our clients are both fam-
with the mission of bringing creative design solutions to
ilies and empty nesters.
the Treasure Valley.
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
LOOKING FOR?
AS
A - Millwork, engineered hardwoods, stone countertops,
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
appliances, and smart home technology
ANT WITH BUYERS?
Q - ARE KITCHENS AND BATHROOMS STILL ON TOP OF
A - Yes, out-of-staters love subdivision amenities.
PEOPLE’S LIST OR IS IT MULTIPLE BEDROOMS, GAME
Q - ARE CASH BUYERS STILL OUT THERE?
ROOMS, OUTDOOR LIVING SPACE, WINE CELLARS?
A - Yes
A - Kitchen & baths for sure, but media/bonus rooms are
Q - DO YOU SELL YOU OWN HOUSES OR THROUGH
also very popular. Entertaining areas in general are given a
REAL ESTATE OFFICES?
high priority.
A - We sell ourselves
Q - DO BUYERS WANT ENERGY EFFICIENT HOMES
Q - WHAT IS SOMETHING YOU PREFER NOT TO
SUCH AS SOLAR PANELS?
HEAR FROM POTENTIAL BUYERS?
A - Energy is still so relatively inexpensive here in Idaho that
A - We have worked hard to set our boutique building
investing in solar technology isn’t a high priority.
company apart.
COMMUNITY
CLUB
HOUSES,
Q - HOW MUCH IS THE AVG. SQ FT COST TO BUILD A HOME TODAY VS 5 YEARS AGO? ARE MATERIALS COST GOING UP? A - Material costs do continue to go up, especially this year with the tariffs that were put in place. 20
Boise Lifestyle | March 2020
Clark & Co Website: clarkandcohomes.com
SWIMMING
Maddyn Homes
SOLITUDE HOMES five years, we’ve seen an approximate increase of $30 Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
a square foot
COMING FROM? ARE THEY YOUNG FAMILIES OR
Q - ARE LARGER HOMES STILL THE RAGE OR NOT?
EMPTY NESTERS?
A - Buyers tend to be downsizing but families with chil-
A - In the past, we were getting more empty-nesters from
dren are finding they get more for their money for a 3,800
California but we are seeing more and more families look-
sq ft dual level home or in-law units for extended family.
ing for larger family homes. Also, we receive a number
Q - HOW DID YOU GET INTO THE BUSINESS?
requests for ADU’s.
A - I always knew I wanted to be in construction since a
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
young age. My father was in construction which intro-
LOOKING FOR?
duced me to the business. I had transitioned from being
A - Maintenance-free homes, energy efficiencies, outdoor
a project manager to become a custom builder.
kitchens and outdoor fireplaces. We include all of these
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
type upgrades in our custom homes.
AS
Q - ARE KITCHENS AND BATHROOMS STILL ON TOP OF
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
PEOPLE’S LIST OR IS IT MULTIPLE BEDROOMS, GAME
ANT WITH BUYERS?
ROOMS, OUTDOOR LIVING SPACE, WINE CELLARS?
A - Security of Community CCR’s is appealing for some.
A - Having an adequate number of bathrooms such as
However, clients are also interested in neighborhoods
a 3bd/3ba is a high priority, ideally ensuite bathrooms.
that are not part of an HOA.
Flexible living space also remains very popular.
Q - ARE CASH BUYERS STILL OUT THERE?
Q - DO BUYERS WANT ENERGY-EFFICIENT HOMES
A - Yes, buyers are coming with cash from a sale of
SUCH AS SOLAR PANELS?
another property, often from California
A - Not so much - energy-efficient construction is a priority
Q - DO YOU SELL YOUR OWN HOUSES OR THROUGH
more so than solar or battery storage features.
REAL ESTATE OFFICES?
Q - HOW MUCH IS THE AVG. SQ FT COST TO BUILD
A - We work with various real estate offices depending
A HOME TODAY VS 5 YEARS AGO? ARE MATERIALS
on the community.
COMMUNITY
CLUB
HOUSES,
SWIMMING
COST GOING UP? A - The costs have remained pretty stable. Over the last
Solitude Homes Website: solitudehomes.com CONTINUED >
March 2020 | Boise Lifestyle
21
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WARNING: WARNING: WARNING: THE THE CALIFORNIA THE CALIFORNIA CALIFORNIA DEPARTMENT DEPARTMENT DEPARTMENT OF REAL OF REAL OF ESTATE REAL ESTATE HAS ESTATE HAS NOTHAS NOT INSPECTED, NOT INSPECTED, INSPECTED, EXAMINED, EXAMINED, EXAMINED, OR QUALIFIED OR QUALIFIED OR QUALIFIED THISTHIS OFFERING. THIS OFFERING. OFFERING. WARNING: WARNING: THE CALIFORNIA WARNING: THE CALIFORNIA THE DEPARTMENT CALIFORNIA DEPARTMENT OF DEPARTMENT REAL OF ESTATE REALHAS OF ESTATE REAL NOTHAS ESTATE INSPECTED, NOTHAS INSPECTED, NOT EXAMINED, INSPECTED, EXAMINED, OR QUALIFIED EXAMINED, OR QUALIFIED THIS OR QUALIFIED OFFERING. THIS OFFERING. THIS OFFERING.
OPEN HOUSE (CONTINUED)
Jim & Jan Hunter, Boise Hunter Homes
Enzler Family, Maddyn Homes
BOISE HUNTER HOMES
Q - HOW DID YOU GET INTO THE BUSINESS? A - Our founder, Jim Hunter, is a civil engineer and worked
Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
for another home builder for 15 years. When the patriarch
COMING FROM? ARE THEY YOUNG FAMILIES OR
of that company passed away, Jim decided to start Boise
EMPTY NESTERS?
Hunter Homes in 2007.
A - Because we have four communities, each with different
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
price points, different floor plans, and positioned in differ-
AS
ent areas of town, we see a wide variety of buyers.
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
ANT WITH BUYERS?
LOOKING FOR?
A - Buyers are absolutely interested in the community
A - The following are all things that we do as standard
amenities. In fact, in the Treasure Valley with so many
items: a large master suite, covered patio, 3-car garage, 10
different communities, the existence of such amenities
ft. ceilings and 8 ft. doors, expansive kitchen layouts.
are expected.
Q - ARE KITCHENS AND BATHROOMS STILL ON TOP OF
Q - ARE CASH BUYERS STILL OUT THERE?
PEOPLE’S LIST OR IS IT MULTIPLE BEDROOMS, GAME
A - Cash buyers are not very common for us.
ROOMS, OUTDOOR LIVING SPACE, WINE CELLARS?
Q - DO YOU SELL YOUR OWN HOUSES OR THROUGH
A - It depends on who you are selling to, but we tend to
REAL ESTATE OFFICES?
find that lot size, high-quality finishes, and garage space
A - We have a team of two dedicated agents in each of
are our buyer’s top priorities.
our communities, stationed at our model homes.
Q - DO BUYERS WANT ENERGY EFFICIENT HOMES
Q - TELL US YOUR STORY
SUCH AS SOLAR PANELS?
A - When Jim Hunter started Boise Hunter Homes in
A - Every buyer wants to make sure their new home is effi-
2007, Jim invested in land instead of building dozens
cient and we help them understand just how efficient it is.
of homes and that focus was key to our company’s
Q - ARE LARGER HOMES STILL THE RAGE OR NOT?
continued success.
COMMUNITY
CLUB
HOUSES,
A - One of the things we especially hear from out-of-state buyers is that they are often moving here because they want more space. 24
Boise Lifestyle | March 2020
Website: boisehunterhomes.com
SWIMMING
Arcadia by Brighton Homes
MADDYN HOMES Q - ARE LARGER HOMES STILL THE RAGE OR NOT? Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
A - Square footage is less of the focus in the market that
COMING FROM? ARE THEY YOUNG FAMILIES OR
we focus on.
EMPTY NESTERS?
Q - HOW DID YOU GET INTO THE BUSINESS?
A - We pride ourselves in meeting and appealing to a broad
A - Growing up my father was a builder. My summer jobs
spectrum of buyers. We have built homes for local young
were always on the construction site where I mastered the
couples to empty nesters.
shovel and any job no one else wanted to do!
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
LOOKING FOR?
AS
A - Most people tend to gravitate towards trim and
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
finish upgrades.
ANT WITH BUYERS?
Q - ARE KITCHENS AND BATHROOMS STILL ON TOP
A - Yes. Buyers are looking for a community that feels like
OF PEOPLE’S LIST OR IS IT MULTIPLE BEDROOMS,
home but is removed from the hustle and bustle.
GAME ROOMS, OUTDOOR LIVING SPACE, WINE
Q - ARE CASH BUYERS STILL OUT THERE?
CELLARS?
A - Yes! In the past 12 months we have seen a steady supply.
A - Kitchens and bathrooms are still hitting at number one
Q - DO YOU SELL YOUR OWN HOUSES OR THROUGH
- open floor plans next.
REAL ESTATE OFFICES?
Q - DO BUYERS WANT ENERGY EFFICIENT HOMES
A - Tayler Jade Real Estate is our real estate team.
SUCH AS SOLAR PANELS?
Q - TELL US YOUR STORY
A - Yes. Again, buyers are more educated than ever.
A - As mentioned above, my father was and still is in con-
Q - HOW MUCH IS THE AVG. SQ FT COST TO BUILD
struction. From him I learned how to work and how to care
A HOME TODAY VS 5 YEARS AGO? ARE MATERIALS
about the job I was doing. Growing up around construc-
COST GOING UP?
tion and Real Estate I became passionate about both.
COMMUNITY
CLUB
HOUSES,
SWIMMING
A - That’s all relative to what home you are building and what you are putting in the home.
Website: maddynhomes.com CONTINUED >
March 2020 | Boise Lifestyle
25
OPEN HOUSE (CONTINUED)
Lars Hansen, Brighton Homes
Corey Barton, CBH Homes
BRIGHTON HOMES
Q - ARE LARGER HOMES STILL THE RAGE OR NOT? A - I would consider a large home for our market to be
Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
anything over 3000 square feet.
COMING FROM? ARE THEY YOUNG FAMILIES OR
Q - HOW DID YOU GET INTO THE BUSINESS?
EMPTY NESTERS
A - When I was 21 years old I began designing cus-
A - Brighton has created a variety of remarkable communi-
tom homes at a small design firm while attending col-
ties which appeal to a wide range of individuals.
lege. After graduating with my Professional Degree
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
in Architecture, I worked at large architecture firms in
LOOKING FOR?
Portland, Oregon and Boise, Idaho. When the “great-re-
A - Brighton Homes believes that all homes must be three
cession” began in 2006, I left that company and joined
things; well-built, highly-functional, and beautiful.
Brighton Corporation.
Q - ARE KITCHENS AND BATHROOMS STILL ON TOP OF
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
PEOPLE’S LIST OR IS IT MULTIPLE BEDROOMS, GAME
AS
ROOMS, OUTDOOR LIVING SPACE, WINE CELLARS?
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
A - Functional outdoor spaces are highly desirable.
ANT WITH BUYERS?
The best approach is for builders to design homes with
A - What a “complete lifestyle” represents to an individual
flexible layouts.
varies depending on their stage of life, but there are some
Q - DO BUYERS WANT ENERGY EFFICIENT HOMES
things that overlap all groups.
SUCH AS SOLAR PANELS?
Q - ARE CASH BUYERS STILL OUT THERE?
A - In Southwestern Idaho, we are fortunate to have access
A - We have had a number of buyers who have purchased
to affordable renewable energy provided by hydro-electric,
their new home with cash in the last year.
wind and solar sources.
Q - DO YOU SELL YOUR OWN HOUSES OR THROUGH
Q - HOW MUCH IS THE AVG. SQ FT COST TO BUILD
REAL ESTATE OFFICES?
A HOME TODAY VS 5 YEARS AGO? ARE MATERIALS
A - All of our homes are listed by Epic Realty in
COST GOING UP?
Meridian, Idaho.
COMMUNITY
CLUB
HOUSES,
SWIMMING
A - Over the last 5 years, land, material and labor costs have increased steadily. 26
Boise Lifestyle | March 2020
Brighton Homes Website: brightonhomes-idaho.com
Cedarfield by CBH Homes
Q - HOW MUCH IS THE AVG. SQ FT COST TO BUILD A HOME TODAY VS 5 YEARS AGO? ARE MATERIALS COST GOING UP? A - Yes, materials and labor go up. We work closely with our partners to be efficient as possible [and] to keep costs low so that we can provide the best pricing for our buyers. Q - ARE LARGER HOMES STILL THE RAGE OR NOT? A - Some people are looking to downsize, others have growing families and need more bedrooms and storage. Q - HOW DID YOU GET INTO THE BUSINESS? A - Raised in Boise, Corey Barton got his early start in CBH HOMES
the construction industry as a framer. After many years of working for several Treasure Valley builders, and in 1992,
Q - WHO ARE YOUR BUYERS AND WHERE ARE THEY
Barton began building homes in Ada County.
COMING FROM? ARE THEY YOUNG FAMILIES OR
Q - ARE BUYERS LOOKING FOR AMENITIES SUCH
EMPTY NESTERS?
AS
A - Our buyers are the young, hip crowd, the growing fam-
POOLS, TENNIS COURTS OR IS THAT NOT IMPORT-
ily looking for more room for extra feet (or paws), and the
ANT WITH BUYERS?
[empty nesters]. We see quite a bit of in-state buyers [and]
A - Swimming pools are definitely a hot commodity.
some buyers from surrounding states.
Other important community amenities are things like
Q - WHAT KINDS OF UPGRADES ARE PEOPLE
parks, nearby schools, restaurants and shopping.
LOOKING FOR?
Q - ARE CASH BUYERS STILL OUT THERE?
A - The interior design team hand selects each and every
A - Absolutely! We see a good number of cash buyers.
finish such as EVP flooring, stainless steel appliances, solid
Q - DO YOU SELL YOUR OWN HOUSES OR THROUGH
surfaces and more so that buyers have more time instead of
REAL ESTATE OFFICES?
choosing upgrades.
A - CBH has a wonderful team of in house Sales
Q - ARE KITCHENS AND BATHROOMS STILL ON TOP OF
Specialists to help buyers find homes.
PEOPLE’S LIST OR IS IT MULTIPLE BEDROOMS, GAME
Q - TELL US YOUR STORY
ROOMS, OUTDOOR LIVING SPACE, WINE CELLARS?
A - A local native to Boise, Corey started in the construc-
A - Kitchens are at the top of the list. People also ask about
tion industry as a window guy, moving onto a framer, and
office space, bonus rooms, master bedroom on the main
then working for home builders in the Boise area. Today,
level and lots of storage space!
the company that started with just one man, has grown
Q - DO BUYERS WANT ENERGY EFFICIENT HOMES
to include a real estate brokerage, HVAC company, truss
SUCH AS SOLAR PANELS?
plant, and interior finishes supplier.
COMMUNITY
CLUB
HOUSES,
SWIMMING
A - We have not seen any demand for this as it still seems to be cost ineffective.
Website: cbhhomes.com/ March 2020 | Boise Lifestyle
27
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28
Boise Lifestyle | March 2020
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29
ARTIST’S PALETTE ARTICLE CHARLES KNOWLES | PHOTOGRAPHY CHARLES KNOWLES
Stanley Idaho winter Corral with wispy clouds over the Sawtooths
STANLEY IDAHO WINTER CORRAL
WITH WISPY CLOUDS OVER THE SAWTOOTHS SNOW COVERED GROUND WINTER FARM CORRAL BEFORE THE SAWTOOTH MOUNTAINS OF IDAHO I HAVE MADE MANY TRIPS INTO THE SAWTOOTH MOUNTAINS OF IDAHO. As a photographer, each trip shows something different to offer. Not only does my own perspective change over the years, but the weather conditions are ever changing, not to mention different seasons. I ran across this old corral in the fields behind Stanley Idaho one winter. The corral itself was very photogenic, but there was magic happening behind it up in and above the mountains. Although it was very cold, I waited what seemed like forever for the clouds to move into position before I took the shot. After I took is image, I chose to process it in Black and White mostly because there was not much color at the corral, but it also helps to define the wispy feathery clouds better. 30
Boise Lifestyle | March 2020
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March 2020 | Boise Lifestyle
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BOISE ARTICLE HAYDEN SEDER | PHOTOGRAPHY CHARLES KNOWLES
32
Boise Lifestyle | March 2020
2020 VISION OF SUCCESS
THE SECRET IS OUT: BOISE IS ONE OF THE
While Boise has always been high up in lists of best
BEST CITY’S IN AMERICA TO BE LIVING IN AND
cities to live in, it’s now taking over those lists: a report
THE BEST TO MOVE TO. Residents of Idaho’s
from the Federal Housing Finance Agency showed
capital have long known its many attributes: mild
home prices in Boise have risen 11.1% over the last year.
climate, easy access to the outdoors and outdoor
One of the big draws over the last few years has been
recreation, a booming job market, good schools, and
a boom in the job market due to large companies who
other qualities that make it the best city for old and
have set up shop in Boise. Micron Technologies, one of
young, working and retired, singles and families. But now others are taking notice; a new article from MarketWatch just named Boise the hottest housing market of 2020. In a list of 25 cities, Boise was the number one market for home sales and price growth for the new year. In addition to its obvious attributes, MarketWatch also credits Boise’s rise in the housing market to a trend of people moving away from more expensive parts of the country as well as away from coastal markets
which
previously
topped lists of places to live. “It’s no surprise to those that live here why the Boise metro area has been named one of
the largest employer in Boise,
“BOISE IS A
was founded in the city in 1978
G R E A T P L AC E
supply jobs to the Boise market
TO R A ISE A FA M I LY, S T A R T A BUSI NESS OR E V EN RETIRE. WE T RU LY H AV E IT A LL!” – MICHELLE BAILEY, 2020 PRESIDENT OF BOISE REGIONAL REALTORS®
and since then, continues to with 5,000 employees currently. Another large employer in Boise, currently employing 1,000-2,000 employees according to the Boise Valley Economic Partnership is HP Inc. Other large employers for the area are Albertsons, Blue Cross of Idaho, Fred Meyer, YMCA, Winco Foods, IDACORP, and Wells Fargo. But it’s not just those employers making a difference; the Idaho Department of Labor cites Idaho’s unemployment rate at a low 2.9% and a report from Governing.com ranks Idaho fourth in the nation in job growth. Access to the outdoors and
the fastest growing areas in
the bounty of outdoor recre-
the nation over recent years,”
ation opportunities in the City
says Michelle Bailey, 2020
of Trees also account for part
President of Boise Regional
of its appeal. In a 2017 “25 Best
REALTORS®. “We have a high quality of life, booming
Towns of 2017” by Outside, Boise made the list for its
economic opportunities coupled with four seasons,
adventure opportunities like the 25-mile Greenbelt trail
low crime rate, and world-class outdoor recreation.
that runs along the Boise River, close proximity to the
Boise is a great place to raise a family, start a business
South Fork Payette River or Salmon for river outings
or even retire. We truly have it all!”
and the Ride to Rivers trail system in the Boise foothills. CONTINUED >
March 2020 | Boise Lifestyle
33
BOISE LIVING (CONTINUED)
In addition to those outdoor assets, Boise has even more. The Boise River itself is a great spot for paddling, floating, and kayaking. Surfers can try their luck on man-made waves at the Boise River Park too! The city is home to numerous beautiful parks for recreating like river-side parks Ann Morrison and Julia Davis. In addition to the aforementioned Greenbelt and Ride to Rivers trails for recreation, there’s also the Morrison Knudsen Nature Center with a 4.6-acre nature preserve full of paths for strolling, Camel’s Back Park Trail, and the Oregon Trails Reserve Walking Trails. While Boise is a great city to raise a family or for young people to enjoy, it’s also a major draw for the older crowd. An article from the “Idaho Business Review” references a study by SeniorAdvice.com that named Boise number seven of 20 mid-sized cities for senior citizens in 2019. Factors that were considered in the study were the area’s percentage of senior citizens, available social activities, weather, presence of senior communities, quality of health care, number of hospitals and pharmacies, and cost of living. According to the article, there are nearly 90 senior living facilities in Boise. Also a plus was Idaho’s low crime rate and property taxes. Lastly is, of course, the housing market itself. Though the city may be the main draw, the real estate market is the real clincher. According to We Know Boise Real Estate, this year may see the best real estate market in Boise total home sales rising 18.76% in Ada County. A city is so much more than its assets listed on paper. While Boise has wonderful characteristics, it’s the feel of the city, its people, and the ever-changing pace of this living place that truly makes it such a draw. As new residents will find out and current residents already know, Boise is the best place to live.
34
Boise Lifestyle | March 2020
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March 2020 | Boise Lifestyle
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AFTER
Forty years and counting…our blessings!
For over four decades STRITE design + remodel has been translating our clients’ lifestyle aspirations into home renovations of lasting value. We couldn’t have accomplished this without the vision of our clients, the dedication of our staff, the professionalism of our trade partners, and the inspiration that comes from living in a great community. Thank you Boise, we look forward to the next 40 years and beyond!
208. 336. 9176
36
Boise Lifestyle | March 2020
www. s t r i t ed r. c o m
BEFORE
Medical | Dental | Vision | Supplements
Health Benefits of Boise LLC is an Independent Agency, not owned by an insurance company, therefore we offer benefits from a variety of insurance carriers. Our goal is to take the mystery out of insurance and help you make sense of it, so you can look forward to a brighter, more secure future.
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KNOWLEDGE
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EXPERIENCE
We cater
weddings | rehearsal dinners | graduation parties | birthday parties anniversaries | celebrations of life | company parties
Food trucks available for outdoor events • Pineapple Express restaurant in Meridian open Mon-Saturday 11 AM – 8 PM. • Rentable dining room space available on Sundays. 499 South Main Street, Meridian • (208) 429-9111 • kanak.co
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Check out our Menu at 830common.com March 2020 | Boise Lifestyle
37
1-13 LEADING LADIES
Boise Little Theater
MARCH
LIFESTYLE CALENDAR
Two Shakespearean actors, Jack and Leo, find themselves down on their luck. They resolve to pass themselves
off as relatives of a dying heiress
only to find out they aren’t nephews but
nieces.
Romantic
entangle-
ments, scrambled Shakespeare, and
good-natured laughs abound. For audiences 13 and up, buy tickets at BoiseLittleTheater.org
Hello
spring!
7 GLASS & GLAM GALA Boise Art Museum
Guests are invited to immerse themselves in our contemporary glass installation as well as our glamorous Gilded Age masterpieces. Join us for
spring is the perfect time to:
an all-inclusive, fully hosted evening.
· assess for damage that may have occurred over the winter
Impressionism
· Check for plant nutrition needs
museum.org/special-events/gala
· Assess for unusual pest activity
Formal attire – In a nod to our current exhibition,
vintage
touches and accessories are encouraged. For more information: boiseart-
13 ROSEANNE CASH
The Egyptian Theatre
Rosanne Cash is on tour with She Remembers Everything, a poetic, lush and soulful collection of songs that reckon with a flawed and fragile world. She Remembers Everything follows Rosanne’s
triple-Grammy
winning
2014 album The River & the Thread and marks a return to more personal songwriting after a trio of albums
CALL FOR A FREE CONSULTATION
208.362.4478 • info@alpinetreeservice.net alpinetreeservice.net 38
Boise Lifestyle | March 2020
that explored her southern roots and family heritage. 8:30 PM - For tickets visit EgyptianTheatre.net
MARCH
13 BUTTE IN BOISE - A ST. PATRICK'S DAY CELEBRATION Boise Centre
Ready for fun this St. Patrick’s Day? All are invited to Butte in Boise – where we’ll party like they do in Butte, home to one of the largest St. Patrick’s Day celebrations in the country! Join us and celebrate with amazing food, drinks, music, dancing, basketball and more. For more information call 208-489-3603.
14 BALLET IDAHO - SPRING REP: LIGHT/DARK Morrison Center
Light/Dark
includes
world-renowned
work
from
choreographers
including Alejandro Cerrudo’s cinematic
and
whimsical
Offscreen,
inspired by vintage cinema, and a world premiere by Australian choreographer Craig Davidson. Both of these dance makers were featured in our 2018/19 Spring Repertory program, (re) Define, and we are thrilled to have them returning with new and different work. For more information: balletidaho.org
stay warm C O O L PEO PLE W I T H Y O RK
Enjoy Fall inside the comfort of your home.
14 SHARE YOUR HEART BALL TO BENEFIT CAMP RAINBOW GOLD
Camp Rainbow Gold provides emotionally
empowering
experiences
to Idaho's children diagnosed with cancer and their families. Share Your Heart Ball is a benefit for Camp Rainbow Gold’s annual campaign, ensuring all programs remain free of charge for children and families we serve. Starts at 5:30 PM - Purchase tickets at ShareYourHeartBall.org
721 N. Ralstin St. Meridian | 208-336-2665
advancedheatingandcooling.com
CONTINUED >
March 2020 | Boise Lifestyle
39
BUY 4 GET 1 FREE OR FREE FRONT DOOR WITH WHOLE HOUSE WINDOW PACKAGE $0 Down, 0% Interest, $0 Payments until 2020
MARCH
LIFESTYLE CALENDAR
15
UNCORKED #2: LANGROISE TRIO AND WOODWIND QUINTET
Esther Simplot Performing Arts Academy
Grab a drink and mingle with the tal-
ented Boise Phil Chamber Players at the Uncorked Series!
Join us at our second Uncorked concert featuring the Langroise Trio and our Brass Quintet.
The College of Idaho Langroise Trio features Principal Viola David Johnson, Associate Principal Cello
Sam Smith, and will feature a guest
concertmaster. For more information: boisephil.org
19-22 BOISE SPRING HOME & GARDEN SHOW Expo Idaho
Open Thursday and Friday 5-9 pm, Saturday 11 am-7 pm, Sunday 11 am-5 pm. Tickets are; adults $5, seniors (62 and older) $4, children 12 and under are free. For more information and a vendor map, visit BoiseSpringHomeShow.com.
“At Amazing Exteriors, we appreciate our relationship with Infinity from Marvin and Marvin because we are both family owned and operated businesses. We share the same commitment to our customers, communities, and employees.” — Gary, Chris, and Stephen Warrington
19 JO KOY: 2020 JUST KIDDING WORLD TOUR CenturyLink Arena
Also Offering Quality Products From:
As one of today’s premiere stand-up comedians, Koy sells out theaters and
arenas
around
the
world,
and has been breaking ticket sale records with his infectious and
VISIT OUR SHOWROOM 2285 E. Warm Springs Ave Boise, ID 83712 Call for FREE IN-HOME Estimate:
208-392-0417
www.AmazingExteriors.com 40
Boise Lifestyle | March 2020
explosive energy on-stage. He pulls inspiration from his family, specifically his son, with material that has universal appeal. Purchase tickets at CenturyLinkArenaBoise.com
MARCH
23-27 WILD IDAHO EXPLORERS SPRING BREAK CAMP Idaho State Museum
Children in 1-5 grades can explore dry deserts, soaring mountains, and swift rivers while navigating the wild landscapes that make Idaho such a unique state. Campers will travel through the Museum’s exhibits and learn about the plants, animals, and people that call these places home. They can create a desert themed board game, float a boat, or play farmer freeze tag as they learn about the ecosystems that have defined Idaho. Learn more and register at History.Idaho.Gov
25-29 TREEFORT MUSIC FEST 2020 20 Boise Venue Locations
Big Adventure. Small Crowds. E S C A P E T O PA R A D I S E I N 2 H O U R S
Dubbed “the West’s best SXSW alternative” by a Portland music critic, the Treefort Music Fest celebrates talented, emerging artists from around the world. For more information: treefortmusicfest.com
27-29 BOISE FLOWER & GARDEN SHOW Boise Centre
Shop for everything from outdoor furniture to sunrooms, tools, garden gadgets, iron garden art and orchids. You'll still find spectacular gardens; gardening seminars and demonstrations; a spectacular bonsai display and
Just a short drive from Boise, a second home in Sun Valley is the perfect place for investors and weekend warriors alike. Recreation and culture abounds with small crowds and an authentic mountain lifestyle. The Wood River Valley offers infinite opportunities to explore. Come experience year-round fun in Sun Valley and find the perfect condo, townhouse, or home for your needs!
Darlene Young, Associate Broker 208.720.0741 darlene@svdarlene.com Kelsey Bates, Marketing Director/Realtor 206.369.2350 kelsey@svdarlene.com
demonstrations to get you hooked; and much, much more. General Admission $8 per day. Ultimate Pass Good for Fri/Sat/Sun $14 *Discount coupons will be available at all Zamzows stores starting March 1st!
Y O U N G G R O U P S U N VA L L E Y. C O M
March 2020 | Boise Lifestyle
41
ARTICLE KENDALL HOULTON
FINANCIAL BUZZ
INVESTMENT PROPERTY MIKE KIRBY OF FIRST FEDERAL BANK ON THE BENEFITS OF TREASURE VALLEY RENTAL PROPERTIES
Many times, the property a first-time investor may be considering renting out is the property they are currently living in, and is their primary residence. The interest rate may be favorable and the balance remaining on the property may be such that they
WHAT TO KNOW BEFORE GETTING INTO INVESTMENT PROPERTY
could pull out equity to help finance their first investment property. The down payment required to purchase a new invest-
RESEARCH
ment property is typically greater than that of a primary
From a financing perspective, first time investors
home, and the interest rate is typically a bit higher due to
should research the requirements of acquir-
perceived market risk. The standard percentage down is
ing investment properties. The research might
typically 20-25% of the sales price.
include down payments requirements, cash
Lastly, cash reserves required in savings is important. Most investors require a 6-12-month cash reserve of the PITI
reserve requirements after closing and if proposed leases could be utilized in the qualifying.
(principal, interest, taxes & insurance) in the form of a liquid or semi-liquid cash account. Many factors go into being a landlord: are you going to self-manage, hire a property manager, are you emotionally equipped to deal with tenants/contracts/property upkeep and everything else that goes into maintaining a property you don’t reside in. Are you going to stick with single-family homes or branch out into 2-4 duplex properties or multi-family units?
WHICH TYPE OF MORTGAGE An owner-occupied mortgage is one in which the borrower on the loan is also the occupant of the home. An investment property mortgage is one which the borrower on the loan does not occupy the home and looks to a tenant to support the cash-flow of the payments.
It’s a great opportunity to own investment properties here
42
in the Treasure Valley as property values continue to rise
MARKETABILITY OF PROPERTY
and you build wealth through real estate. Arm yourself with
The primary items a buyer should look for would be
knowledge of the market, hire a trustworthy real estate agent
how marketable is the subject property to ensure a
who knows where investment properties may be and work
consistent occupancy by a tenant and the ability to
with a qualified lender to help guide you through the steps.
cash-flow the property in times of tenant vacancy.
Boise Lifestyle | March 2020
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