Home Buying in Coeur D Alene>Question Details

Becky, Home Buyer in Coeur D Alene, ID

Hi there... my boyfriend and I just started a home search and I had a few questions. I have owned a property before (a condo) and so I am well aware

Asked by Becky, Coeur D Alene, ID Sun May 2, 2010

that you have to think of the resale factor when you buy a home. We have a limited budget and I have seen many houses in our budget but they only have 1 bathroom. I have been told in the past that 2 is best, but my idea was that if it was an old home (pre 1950's) then you would sell the fact that it was "old/historic" and turn the focus away from less bathrooms. Is that correct thinking? Also I am wondering if Coeur d'Alene homes will hold their value better than Post Falls. And as far as CDA goes, are there more desirable areas for old homes in the $130k and below range? Thanks for any help!

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Hi Becky - Statistically, downtown Cda holds it value better due to the proximity to restaurants, shops, the lake, Tubbs Hill, and all the events that happen on Sherman. That is why homes in the Garden District and Sanders Beach go so fast if they are properly priced! As far as the one bathroom goes, everything is a trade off. I live downtown Cda now, and am looking to move to another home in the area. The one that I have identified also has only one bath. But the benefits of living the downtown lifestyle far outweighs the bath situation! At some point in time, I will be converting a space on the main level near the laundry and adding another bath. You have to both sit down and talk about how you live, what you enjoy, and what area feels at home to you! Good luck in your search -
0 votes Thank Flag Link Mon May 3, 2010
Yeah, you can get too hung up on that, though.

A rising tide lifts almost every boat, and the other-way 'round, too.

A one-bathroom house is going to be more affordable, to you and the next buyer; a two-bathroom house at the same price point will have to compromise on something else - size, location, amenities, light, whatever.

Basically, unless you buy new, whatever you buy has been bought and sold before, and as you see, one-bathroom houses aren't being given away!

I'd say, if you don't need two, buy one and enjoy the rest of the house!
0 votes Thank Flag Link Mon May 3, 2010
Hello Becky,

In today's age, yes buying a home with 2 baths is more deseriable than only having one. If you are on a limited budget, I would recommend a newer home rather than an older one. Older homes are great, but most of the time they are a lot of maintenance. And all the expenses for repairs have to come from savings (ie. new roof, plumbing, electrical, up dating, etc.)

As for CDA or Post Falls. They are both great cities. They are only 4 miles apart so it just depends if you want to be closer to Spokane or farther. Have you considered Hayden and Rathdrum. All of them are good choices. And right now there are a lot of deals to be had.

I would be happy to speak to you regarding available homes in any of the areas.

Kaye Mounsey, Associate Broker
Keller Williams
208-661-9445
SNKRanch04@aol.com
0 votes Thank Flag Link Sun May 2, 2010
Hi Becky, Answering your last question first, the most desirable area with the greatest percentage of vintage homes would be the Sanders Beach area, south of Sherman Ave in CDA. There are some other great areas like the Garden District not too far north of Sherman, too. They're close to downtown, the city beach and park and the Resort with all it's festivals, fairs, parades and activities.
Regarding the bathroom question -- if given the choice, any buyer would choose a 2 bathroom home over a 1 bathroom home, even in a vintage home, so if possible a 2 bathroom home is ideal. With that being said, many homes in the downtown area in the price range you're looking at are going to be 2 bedroom, 1 bath.
As far as holding their value -- that's a tough question, but my opinion is that in general a home in Coeur d'Alene will hold it's value better than Post Falls, especially in the price range you're looking at.
You're very lucky that right now there are quite a few quality homes in both cities under $130,000 and you can afford to be a little picky.
Wherever you decide to buy, there's never been a better time than now to do it.
Good luck in your search...
Kirk and Mimi Fisher
Web Reference: http://www.kirkandmimi.com
0 votes Thank Flag Link Sun May 2, 2010
Becky-

remember, your home is an investment but first and foremost, it's your home. You didn't mention family members but in particular, if there are kids you need to consider schools and their life interests (parks, swimming pool, etc.) That aside, the number one resale consideration is the growth in the area, then the price you can obtain the home (built in equity by getting a big discount from a builder), and third, the age of the home, and last, the differentiation.

1. Growth will result in future demand and therefore good for property values.
2. Some builders offer discounts on new homes already completed, aka "Spec home" or "inventory" That is very helpful because if the homes in the area are priced higher then you may realize more income when it is your time to sell.
3. Homes mature around year 20 so unless you are in a neighborhood that has a unique value proposition you will only get marginal returns on your investment. Meaning, property values will continue to increase but at a slower rate as the home ages.
4. If you buy in a "track home" community where the same floor plan is repeated often, with only small changes in the design, you will have a more difficult time reselling, even if it is a good demand area than if you had a custom, semi-custom, or remodeled home in a neighborhood not built by only one or two builders.

House values are directly related to demand and supply so if you think in terms of how much demand with respect to how much supply then you'll go the right direction.


Cathy Bureau, MBA, REALTOR, Green, SFR
Broker-Owner
GREEN Home Realty
(210) 378-2489
Cbureau@greenhomerealtyco.com
0 votes Thank Flag Link Sun May 2, 2010
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