Should I Rent or Buy in Boise

Should I rent or buy a home?

The decision to rent or buy a home is one that many people mull over. Many questions like “do I want the risk and responsibility of owning my own home?” or “is it worth staying in an apartment for longer than a few years?” and so on tend to surface when this housing conundrum is posed. But what is the best choice?

Well, the answer isn’t necessarily an easy yes or no. In fact, the real answer is: it depends … it depends on your situation. Before you try to tackle the issue of renting or buying, you need to ask yourself a few questions:

  1. How long do you plan on staying here?
  2. What is your financial situation?
  3. Do you have a steady job that can support a mortgage payment

If you are planning to live here in Boise for a year or longer, you have a steady job and are financially able to buy a home (speak with your bank/ lender about your financial ability to buy a home) then it would be wise to buy a home.

On the other hand, if you are going to be in the Boise area for less than a year, don’t have a secure job that can support a mortgage payment, or are not in a good financial situation, then you might want to consider renting a house or apartment.

What if I do qualify for a home and plan to stay here a while? Why would I want to buy a home instead of rent?

This is another question that real estate agents frequently get asked. So, let’s look at the pros and cons of both buying and renting a home or apartment.



  • You can rent month to month and are not locked into a mortgage
  • You don’t take on any responsibility for the external or infrastructural up-keep of the building
  • You don’t inherit any risk if the building burns to the ground or devalues


  • You cannot alter the apartment (add on, paint, or do major repairs) without the permission of the landlord
  • You can end up paying more for your apartment in the long-run than you would have for a house and still not own anything
  • You will have to ask permission to have people stay at your place for extended periods of time (depending on the landlord’s rules)
  • There may be more rules that you will have to abide by than if you owned your own home



  • With every mortgage payment you own a larger percentage of the home
  • You can alter the home as much as you want as long as you have the funding and the permits
  • The value of your home may appreciate over time making you money as you go
  • You can borrow money (opening a line of credit) against your home if you need some extra money
  • You often have a mortgage payment equal or less than what you could rent for


  • You assume responsibility and risk for the home (if it is damaged or devalues you take the hit)
  • You will be responsible for paying property tax

Now, this is only a summarized list of pros and cons of both renting and buying a home, there are many more that you need to consider. For more information, contact me anytime at (208) 890-2924 or log on to I am a licensed real estate agent in the State of Idaho and have many years’ experience working in the Treasure Valley (Boise area). I can help you understand the benefits to buying a home and will do everything I can to make your home buying dreams a reality.