Are you dreaming of owning a home or investing in real estate but don’t know where to start? Buying a property can feel overwhelming, especially with so many choices and risks involved. We’re sharing tips for finding the right investment property and renovating a fixer-upper.
Why Avoid Hot Markets?
When it comes to investing in real estate, one of the biggest pieces of advice is to steer clear of “hot” real estate markets. A hot market is a place where everyone wants to buy, driving prices sky-high. Think of cities like Miami, where demand is huge, and homes sell for way more than they’re worth. This is a trap for new investors.
Instead, focus on upcoming markets. These are areas that aren’t popular yet but have potential to grow. Prices are lower, and you can get more for your money. For example, instead of Boise, look at smaller towns nearby that are starting to attract attention. This strategy reduces competition and gives your investment room to increase in value over time.
How to Find an Upcoming Market
So, how do you spot an upcoming market? Here are some simple steps:
Look for Growth Signs: Check if new businesses, schools, or roads are being built nearby. These are clues that an area is about to take off.
Talk to Locals: Ask people who live there what’s changing. They often know before the news does.
Check Prices: Compare home prices to nearby hot markets. If they’re much lower but the area looks promising, you might have a winner.
Research Online: Use websites like Zillow or Realtor.com to see trends in home sales and prices.
By avoiding hot markets and finding hidden gems, you can buy smarter and save money.
Practical Tips for House Hunting
Don’t Chase Dreamy Photos
You’ve probably scrolled through Pinterest or Instagram, drooling over perfect homes with fancy kitchens and cozy bedrooms. Those pictures look amazing, but they don’t tell you if a house is practical or affordable. Instead of chasing a “dreamscape,” focus on talking to people who know homes best—long-time homeowners and professionals like contractors or Boise real estate agents. They can tell you what works, what breaks, and what’s worth the money.
For example, a stunning living room might hide a leaky roof or bad plumbing. Focus on the bones of the house—things like the foundation, walls, and systems—not just the pretty stuff.
Ask the Right Questions
When looking for a property, dig into the details. Here are some questions you might ask (and you should too):
- How old is the roof? (A new roof saves you thousands.)
- Are there any water or pest problems? (These can be deal-breakers.)
- What’s the neighborhood like? (Safety and growth matter.)
- Can I add value with renovations? (Look for fixer-uppers with potential.)
Write these down and bring them to every showing. The answers will help you decide if a house is a good buy.
Be Patient
When it comes to real estate investing, you do not build success overnight. House hunting takes time, especially if you’re looking for a deal in an upcoming market. Don’t rush into a purchase just because you’re excited. Wait for the right opportunity—it’ll pay off.
Renovating a Fixer-Upper
Once you’ve bought a property, the real work begins—especially if it’s a fixer-upper.
Start with a Plan
Before you pick up a hammer, know what you want to do. It is worth making a list of must-haves (like fixing a broken floor) and nice-to-haves (like adding a fancy deck). This keeps you focused and stops you from overspending. Think about who’ll use your property—yourself, tenants, or buyers—and plan upgrades that fit their needs.
Focus on Function First
When it comes to real estate investing, it is worth caring more about how a home works than how it looks. A beautiful kitchen is great, but if the pipes leak, it’s useless. Start with the basics: fix the roof, update wiring, and repair walls. Once the house is solid, you can add paint, furniture, or fun extras.
Add Unique Features
What makes a home special? It’s not just a house—it’s an experience. Once you have taken care of all of the functional aspects of a home, look to add unique features. This could include things like a chicken coop, hot tub, sauna, wood shop, or creative studio make it stand out. When you renovate, think about what could make your property different. Maybe it’s a cool outdoor space, a home office, or a garden. Unique touches can boost value and attract attention.
Save Money Where You Can
Renovations can get pricey fast. You can save by doing some work yourself and shopping smart. For example:
DIY Simple Tasks: Painting or installing shelves is easy with a YouTube tutorial.
Buy Used: Check thrift stores or online marketplaces for cheap furniture or materials.
Prioritize: Spend on big fixes (like plumbing) and cut corners on small stuff (like decor).
Recap
The above real estate investing advice isn’t just for experts—it’s for anyone who wants to buy or invest in a home. Here’s a step-by-step guide to get started:
Set a Budget: Know how much you can spend, including renovation costs.
Find an Upcoming Market: Use the tips above to pick a smart location.
Hunt Wisely: Look for fixer-uppers with potential, not just pretty houses.
Plan Renovations: Make a list of fixes and upgrades that fit your goals.
Start Small: If you’re new, try a simple project before tackling something big like Clearing Farm.
The real estate world changes fast, but these basics work in 2025 and beyond. With patience and planning, you can turn a house into a home—or a profit.
Frequently Asked Questions
What is an upcoming market?
An upcoming market is an area that’s not popular yet but shows signs of growth, like new businesses or lower prices. They are great because they’re cheaper than hot markets, have less competition, and can grow in value over time.
How do I know if a fixer-upper is worth buying?
Check the basics: roof, foundation, plumbing, and wiring. If these are fixable and the price is low, it might be worth it. Ask yourself if you can add value with renovations.
What’s the first thing to fix in a fixer-upper?
Start with the structure—roof, walls, and floors. Then move to systems like plumbing and electricity. These keep the house safe and usable.
Can I make money with a rental home?
Yes! If it’s near a popular spot, keep it simple and rent it out. If it’s unique, add special features to charge more.
How do I save money on renovations?
Do easy tasks yourself (like painting), buy used materials, and focus spending on big fixes instead of decor.
Should I avoid hot markets completely?
Not always. If you have lots of money and experience, they can work. For beginners, upcoming markets are safer and smarter.
What makes a home a “destination”?
Unique features like a spa, garden, or studio make it a place people want to visit, not just sleep in.
How long does it take to find a good property?
It depends—sometimes weeks, sometimes months. Be patient and keep looking until you find the right deal.
King & Edge Real Estate Agents in Boise, Idaho
As experienced Boise real estate agents, we are honored to have the opportunity to serve you and be a part of your real estate journey. Let us guide you towards a successful and rewarding experience, where your goals become our goals, and your vision becomes a reality. Contact us today and discover the unparalleled service and expertise that sets King & Edge Real Estate apart as we help you sell your home in Boise or find your place to call home.
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Jordyn Majors Boise Real Estate Agent
Jordyn, a second-generation Realtor with over 10 years of residence in various Idaho locales, possesses extensive knowledge of all that Boise and its surrounding areas have to offer. Her love for Boise and passion for helping others have made her a go-to expert for diverse living experiences, from urban vibes to mountain retreats. Before transitioning to real estate, she gained experience as an administrative coordinator for a leading brokerage in Treasure Valley.
