Idaho is becoming a popular place to move to, especially the Treasure Valley and other cities. Time after time, Boise is labeled a top place to live, with other Idaho communities not far behind.

Because of this surge in popularity, people have been moving here in flocks from other states, causing the housing marketing to surge. Some homes have tripled in worth in just a few short years, yet much of Idaho’s local economy has yet to catch up. This difference can make buying a home, especially your first home, hard to do.

If you are looking to buy a home this year, we’ve got some tips to help make it happen.
 

Get Pre-Approved First
 

Before doing anything else, you need to get pre-approved by a lender. This will help set expectations for home buying and what kind of home you can buy. If what you get pre-approved for is nowhere within the current buying market, then don't waste your time home shopping. 

Talk with multiple lenders to get pre-approved, as the amounts and interest you get pre-approved for can change from place to place. 
 

Finding the Right Home
 

The next step is really difficult. With how hot the housing market is, homes are being purchased right as they hit the market. As you start house hunting, you’ll likely tour some homes that already have multiple offers and bidding wars brewing. With popular homes, you’ll likely need to put in an offer the day it hits the market.

If the stress and demands of buying a home like this isn’t for you, work with your real estate agent to find something more your speed. There are a few other alternatives to finding the right home for you.

One option to consider is a fixer-upper home at a much lower cost. Some of these will require bidding against home flippers, but it’s possible to get the home and fix it up the right way for your family. Plus, it'll be cheaper than a newer home. With a little extra work an dtime, you can't make it your own!

Another option is to build your home. You can do this by working with a neighborhood developer who is currently building a neighborhood and basically purchase the home before it’s built, or work with a developer to build your own home on a plot of land. Thinking of designing and building your dream home? A Pioneer Construction loan could help make it happen!

Finally, you might need to search for a home a little farther out from town. Smaller communities on the fringes of a city might mean a longer commute, but also more affordable house prices. This might be ideal for people who already work from home or don’t mind a bit of a drive to work each morning.
 

Currently Renting a Home? Make an Offer
 

Maybe you're already are living in your next home, you just don’t know it yet. If you are living in a rental house, your landlord might be considering selling, but is just waiting for your contract to end or looking into how to do it. 

Reach out to your landlord and see if they are open to you purchasing the home. Depending on the situation, they might ask for an offer, or consider putting it on the market. If you have a good relationship with your landlord, some might even work on a rent to own process where you pay extra on the rent each month and then they group it together to work as your down payment on the home.
 

Protect Your Credit at all Costs
 

One of the biggest impacts on whether you can buy a home is your credit. A few points difference on your credit report can change what you get approved for and your interest rate. You should do everything to get and keep your credit score as high as possible before and during the house buying process.

That means, don’t try to buy a car, open a credit card, or miss any bills. All of these can hurt your credit and shift what type of mortgage loan you can get. 

If you need help creating a plan for your credit and learn more about it, Pioneer offers everyone a free Credit Checkup. A Pioneer team member can sit down with you and discuss your current score and credit report and make suggestions on how to improve your credit score.
 

Build the Right Team
 

You don’t have to be alone when it comes to buying a home. Having the right team supporting you can help you avoid mistakes and get you into the right home and loan for you. When buying a home, you’ll interact with multiple different people and you should pick out those who are looking to help you reach your goal.

A good place to start is picking the right real estate agent and mortgage lender. Your real estate agent plays a huge role in getting the home or not, and you’ll want someone who can see your vision and know the market. Find someone with good reviews and hopefully someone you know has worked with them. 

As for mortgage lenders, they’ll help you understand the ins and outs of your mortgage loan. Mortgages are complicated, with different fees and legal jargon you’ll need to understand before closing on your home. Pioneer’s mortgage team helps members find the right mortgage for them and is friendly and supportive of all home buyers.

Meet the Team