Coeur d’Alene Real Estate for First-Time Buyers

So you’ve heard great things about real estate investments in Coeur d’Alene, ID, and you’re ready to grab your piece of the pie, but you’re not sure where to even begin. No worries! There are several insider-tips that will shorten your real estate search time and help you search more efficiently. Here are a few thoughts from a local real estate investor that will help get you started.

  1. It’s not what you know, it’s who you know. The most successful realtors in the Coeur d’Alene area are its locals – people born and bred in or near Coeur d’Alene who know the area, understand the housing market trends backward and forwards, and who are well connected through local family, friends, and colleagues. The best way to gain information about the best real estate investments in Coeur d’Alene, or at least within the borders of Kootenai County, is by connecting with local individuals and investment companies who have experience in real estate investments in those specific areas. Talk to friends and family members of your own who live in the area. Even if they haven’t done any real estate investing in a while, chances are they know someone who has. The people who were born and raised in Kootenai County stay very connected to their friends and neighbors, and everyone always knows someone.
  1. Do your research. There’s really no such thing as a bad real estate investment within the Coeur d’Alene city limits. Even if you purchase a foreclosure sight unseen and it turns out the house is sitting on pilings, is rotting from the inside, and is literally only worth the experience you’ll give the local firefighters when you burn it to the ground (after checking with the local fire department, of course), that piece of property is still worth its weight in gold and anything you build on it will only increase its value. This is especially true if the investment property has access to or a view of the lake, or is within a short distance of Downtown Coeur d’Alene. So again, do your research. Oftentimes, at least in Coeur d’Alene, it’s not so much the house or building that’s the investment as it is the location and the land.
  1. Spend some concentrated time in the area, if you can. Did you vacation in Coeur d’Alene during its beautiful summer months? Try a couple weeks there during the winter. Talk to friends and family about what living in Coeur d’Alene is like during the off-season, how the tourist industry affects their lives or businesses, and if they own or know someone who owns an investment property, how does the changing of the seasons affect their investments?

It’s unlikely you’ll know or meet anyone who regrets moving to Coeur d’Alene from anywhere else. Everyone who lives here loves living here, and you will, too.

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The Best Real Estate Investment Opportunities in Coeur d’Alene, ID

Interested in real estate investment properties in Coeur d’Alene, ID? While there are really no bad investment properties within the city limits, you want to make sure you get the biggest bang for your buck, and doing so will depend on what type of investment property you’re interested in.

Commercial and Long-Term Residential

When looking into purchasing or investing in commercial and/or residential real estate, there are many options available in Kootenai County, but there are a few primary locations worth investing in right now. As more and more people relocate to Kootenai County from places like Southern California and the Northern Midwest, Coeur d’Alene has been growing steadily outward over the last several years, developing the outlying countryside for both commercial and residential real estate properties. The same trend can be seen in CdA’s neighboring towns of Post Falls and Sandpoint, both highly desirable areas to live and invest in real estate. As these three towns naturally grow closer together, the value of the property between them will continue to grow. And most of it is still cheaper than trying to snag a piece of real estate in any of the downtown or overdeveloped areas. While these developed areas are a surefire investment, they will cost a pretty penny up front, and you may see higher returns on a real estate investment in newly developing areas.

Vacation and Short-Term Rental

The city of Coeur d’Alene has a relatively short summer season, but those precious few months are what make it worth sticking it out during the winter. Coeur d’Alene thrives on it’s tourist season, and because it’s so short, it is positively bursting with activities and events. Many vacations and short-term rental properties get booked long in advance, sometimes several years out, depending on the location and aesthetics of the property. But the pristine summer scene is not the only reason people snatch up short-term rentals in Coeur d’Alene. The winters, while cold, are considered to be fairly mild compared to other popular lake towns, and with so many excellent winter sports resorts close by, it is the perfect low-key place to set up shop for a winter vacation near the mountains and is rapidly growing in popularity alongside winter resort towns like Vail, CO and Park City, UT. And of course, there’s always the beautiful changing of the seasons to witness in the spring and fall, what with Coeur d’Alene being so full of various trees and foliage all the way to the downtown strip.

Plan a long-term stay in Coeur d’Alene during the off-season and see for yourself why it’s such a great place to invest in! Tour the neighboring cities, get to know Spokane, drive around the lake to see all the possible areas there are to explore, and you won’t look anywhere else for your next big real estate investment.

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Top 3 Reasons People Want to Live in Coeur d’Alene, ID

So you’ve probably already heard all the wonderful things people are saying about Coeur d’Alene, ID – how warm and beautiful the summers are, how much fun they have at festivals like Art on the Green and Car d’Alene, the plethora of options for dining out downtown and, of course, the stunning beauty of Lake Coeur d’Alene with its bordering evergreen mountains. But that’s just during the summer months. If you’re considering moving to Coeur d’Alene or are looking at real estate investment opportunities, you’re probably wondering what makes Coeur d’Alene so great that people are willing to live here year-round and brave the desolation of winter for a few brief months of summer? Is the tourist season all that’s driving and supporting this cozy little lake town?

Not at all. There are several reasons people choose to live in Coeur d’Alene year-round or invest in real estate here.

 

  • Retirement and Healthcare. Coeur d’Alene was voted one of the top ten places to retire due in part to its wide range of affordable healthcare options and 55+ retirement communities. It also hosts a large number of in-home care providers and top-rated assisted living facilities, making Coeur d’Alene an excellent place where people can retire and still feel like they are part of a vibrant and thriving community.

 

  • Recreation and Outdoor Activities. Coeur d’Alene is the perfect place to settle down and still be within a short driving distance of fantastic hiking and winter sports. No time for strenuous long-distance hikes? No problem! Hop on over to Tubbs Hill or Mineral Ridge for a short 2-3 mile hike with fantastic views. Not an outdoorsy type of person at all? Also not a problem. Coeur d’Alene boasts over 150 miles of paved pathways for both cyclists and pedestrians, all within and surrounding the city center, so you will have no lack of opportunities to get out there and get fit. Oh, and don’t forget about the lake. Swimming, skiing, boating, sailing, paddle boarding, wake boarding, parasailing, river cruises, strolling the boardwalk, floating the nearby rivers, public beaches for improving your tan…Lake Coeur d’Alene has it all!

 

  • Weather. Ok, so the winters aren’t great. Any local will tell you that. But anyone who’s spent any extended period of time East of the Continental Divide will tell you that winters in Coeur d’Alene are a walk in the park compared to the bitter subzero temperatures that gust across the Midwest. On average, the coldest it gets in Coeur d’Alene is in the low 20’s during the day and the low teens at night, with a handful of light snowfalls throughout the season and very little wind. Anyone who grew up shoveling snow drifts out of their driveway in -10 temps will tell you that the lack of heavy winds in Coeur d’Alene alone makes it worth living there year-round. And once summertime hits, memories of winter melt away faster than an ice cream cone on a Midwest sidewalk in August.

Maybe you already live in Coeur d’Alene and are more concerned with how other people view your fine, fair city. Is it really as desirable as people say? Is the economy booming enough to make it worth investing in real estate so you can cash in on the influx of people relocating from places like the humid Midwest or overpopulated California? The short answer is a resounding yes. The above are just a few reasons why people love living in Coeur d’Alene, but don’t take my word for it. Ask a local. Anyone who’s spent a decent amount of time here can give you their own reasons for coming, and for staying.

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