Renting Vs. Buying: A Real Estate Guide

renting vs. buyingRenting vs. buying is often a question we get asked as one of Coeur d’Alene’s leading property managers. Millennial  have shown a big move towards renting instead of owning homes, putting a lot more stress on our rental market. On the other hand, home prices continue to rise in our area because of low inventory. It almost seems like your trapped between a rock and a hard place! This week we wanted break down some of the differences between renting vs. owning.

We have tons of renters. Renting a home comes with a big slew of benefits. You never have to worry about home maintenance! Just call us, and whatever problem you are faced with is taken care of at someone else’s expense. You can also control the amount you spend on your home within a yearly basis since your not tied to a mortgage. If you are not in a “steady” career, haven’t settled down yet, or just like moving around, renting is going to be a great solution for you!

renting vs. buying

Buying a home requires a lot of careful consideration. A 30 year commitment shouldn’t be taken lightly! You also want to ensure you have the proper down payment and budget to sustain your home purchase. If you can get your ducks in a row, there is a special pride that comes with owning your own home! While home ownership carries with it a lot of additional responsibilities, the benefits often outweigh the additional costs. Living in your own space is amazing! Having a driveway is even a luxury in this day and age. Choosing the colors of the walls, interior fixtures, and mowing your own lawn all help provide some serious pride of ownership. Its not all roses. When your furnace breaks, its your responsibility to fix it! Home repairs can be incredibly expensive and time consuming. You also have to content with HOA rules and the occasional annoying neighbors pet. Altogether renting vs. buying comes down to personal preference. If you like an independent life style and tend to be a free sprit, stick to renting. It will be easier in the short term. If you’re ready to “settle down” and prepare for the future, consider starting a home purchase. You will be glad you did!

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Summer already! Cleaning Time!

Its summer already!

Summer alreadySummertime in Coeur d’Alene brings  great weather, outdoor activities, and fun. With summer, real estate season really starts to kick off and rental season explodes! One of the questions we get asked all the time is proper rental unit cleaning. Many times, people decide to treat their deposit as “last months rent.” It is unfortunate because we follow very strict policies regarding the return of security deposits! When it comes to cleaning, it really does pay! Here are a few great tips to remember as you prepare to get your hands dirty!

  1. Don’t forget under the stove and fridge. Many people forget to clean out under the stove and fridge (usually the stove has a drawer. Under there gets pretty dirty). We always check to make sure its clean and doesn’t have any leftover kitchen smell!
  2. Dust out the cabinets. Mostly as a courtesy to the new renters, take a rag and quickly clean out the drawers and cabinets. The next renters will thank you!
  3. Washer/dryer space cleaning. Its sometimes amazing how dirty around our laundry gets! Make sure there isn’t any grime stuck on the machines or the floor in front of the units!
  4. Base heaters. For apartments and homes with electric heat, clean off the tops and sides of the units! They will often get super dusty and gross.Summer already
  5. Clean the blinds. We know everyone hates cleaning blinds, but its a necessary evil. Trust us, its not THAT hard. CAREFULLY remove the blinds, making sure they are fully extended. Fill up your bathtub with water (pre cleaning, its about to get dirty). CAREFULLY let the blinds soak for a few minutes in slightly soapy water. GENTLY wash them off with a soapy rag, moving from side to side. Rinse them off, and hang up on window. After drying, take a windex covered paper towel and clean off the water spots. If you did it right (just follow our instructions) they will be cleaner then when you moved in! On average you will save yourself 50.00 per blind we have to clean! Its almost free money!
  6. Summer alreadyWipe down the trim. Around the edges of the wall gets super dusty. Windex and paper towels will do the trick.

Those are the biggest ones that folks forget about. In general, just do what your mom taught you: spray, wipe, dry, repeat! Most of the time with a little bit of effort you can walk away with your deposit and no troubles! Spend it on some summer fun, you earned it!

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