Updated: Jan 31
There are various reasons you might want to establish your roots in Spokane, Washington. The vibrant cultural and arts scene, quality school system, affordable cost of living, and the plethora of housing options available are some of the things that lure new residents to Spokane, Washington. Even if you’re thinking about relocating from Spokane for one reason or another, there’s no disputing that some of these factors are what lured you to Spokane initially.
Owning a home is a long-term investment and one of the greatest heights you can attain in life. If you don’t buy the one that suits your tastes, that feeling quickly turns to regret and bitterness. For this reason, it’s important that you secure a home that elicits feelings of happiness and satisfaction such that if and when you decide to sell, you’ll have no reservations about your time there. What’s more, you can even make improvements during your time there, significantly increasing the resale value. When you make the right call, it’s a win-win situation regardless of whether you’re buying or selling.
If you’re thinking about living in this wonderful city, here are some factors to take into account before pulling the trigger on purchasing a house in Spokane.
1. Renovation
If it’s your first time purchasing a house, you may be enticed to waive the renovation factor. Nevertheless, it’s integral that you ascertain the property you are acquiring is in a decent state. In your search for a house, marketers usually price the residential houses they are selling at a low-budget price which is a major selling point. Even though these homes come at cut-rate prices, you may end up spending thousands of dollars doing renovations once you move in.
This is a major pitfall as it will see you spend more money on labor and materials for the home improvements. Before buying a house in Spokane, ensure that it meets contemporary standards when you are inspecting. Otherwise, move on to another house that won’t cost you in terms of improvements.
2. Size and Storage
When purchasing a house, size and storage are integral factors. Some homebuyers prefer no storage areas and only need limited spaces. However, when it comes down to it, these houses will get expensive since you won’t have adequate space for storing your electronics, furniture, and other essential items.
Additionally, some individuals despite staying in small spaces won’t compromise space for other variables. If you fall under this category, you should consider looking for a spacious home that fits your budget range. Conversely, if you can let go of the space issue, you can acquire a home taking other factors into account since you can work with the available space you have. Also, if you don’t have any use for additional space, don’t go for a very spacious house.
3. Housing Market
Currently, the housing market in Spokane is booming, with demand being very high. This places the seller at an advantage and will see you make several bids for a home before it is accepted. Waiting around for the cost to drop could significantly diminish your housing options since the prices are only set to increase.
4. Weather & Natural Disasters
Spokane residents experience all four seasons across the year. Winters are snowy and cold, spring brings warm, sunny days but cool nights, summers are hot and relatively dry, while the fall has attractive foliage altering colors.
The hottest months in Spokane are July and August, with lows reaching the mid-50s and the highs reaching the 80s. The coldest months are December and January, with lows in the 20s and highs in the 30s.
Although Spokane is relatively safe from most adverse natural disasters, residents can expect to encounter floods, snowstorms, wildfires, and rare low magnitude earthquakes. Knowing what to expect from the weather and the possibility of natural disasters will play a significant role in the decision-making.
5. Traffic & Transportation
Before buying any home, you should first review the neighborhood’s infrastructure since that’s how you’ll be going to work or school. It is very inconvenient to purchase a home, only to discover that the road system is poor or that you’ll have to drive around for miles before accessing any amenities.
Spokane has somewhat limited public transportation alternatives. Still, the Spokane Transit Authority runs 38 bus schedules across the city and its environs. There’s also an Amtrak station and taxi service available in Spokane. If you’re planning on commuting, you’ll come to love the light traffic conditions of the city, even during the rush hour. The commute time is averagely under 22 minutes. Most people who buy homes in Spokane search for houses in areas that are near their workplace and have good connections when it comes to rail and road development. Go for a place with good infrastructure so that you can guarantee an enjoyable and sustainable life.
6. Budget
Despite other underlying factors, the price of the house is what really matters at the end of the day. Even if the home satisfies most of your requirements, but it is over budget, the chances are that you’ll have to give up on it. Choose a house that’s within your budget range and has fewer negatives and several positives. To find such a house, you’ll need to scour the market extensively while at the same time being cautious for potential warning signs. As of now, it’s a seller’s market, but that doesn’t mean you have to pay exorbitantly more than the actual house value. Overpaying just to get a house won’t really solve your problems but rather exacerbate them.
Some of the best neighborhoods to reside in Spokane, WA, includes Rockwood, Lincoln Heights, North Indian Trail, Comstock, Manito-Cannon Hill, Cliff-Cannon, Moran Prairie, and North Hill.
TIPS FOR SELLERS
With each passing month, the real estate market of any place experiences new challenges. Selling your home at the wrong period can see you forego a good payday while waiting out the market to surge can see you make a considerable chunk of money. Statistics indicate that you can raise the profits on your home by more than 75% if you make the sale at the right time.
On the other hand, if you are looking to sell your house in Spokane fast with little to no hassle, you should think about consulting with a professional home buying company.
Get a Cash Offer For Your House
If you want to sell your Spokane home fast, getting an immediate cash offer can be the financial lifeline you are looking for. Perhaps you are undergoing a divorce, are facing foreclosure, inherited unwanted land, or simply need the money in a hurry. Do you want to avoid the stress that comes with selling your home using an agent? Don’t have the time and/or resources to stage your house? Need to sell fast? Well, look no further than HomeFront as your go-to solution.
When you sell to HomeFront cash buyers, you can look forward to selling your home conveniently with no hassle, no obligation, and no intermediaries. When you sell your house to HomeFront, you can be assured of receiving VIP treatment which makes life easier on your end. The entire process is super-easy, and you can even receive a cash offer within 24 hours of reaching out.
HomeFront buys houses fast as-is regardless of the location or the state the home is in and with zero fees imposed. You don’t need to prepare the house for showings or listings. It doesn’t matter whether your house has experienced fire damage or water damage. You can expect the professionals from HomeFront to still want your house. Their only goal is to offer relief and give you leeway from your tough situation.
Here’s how the process:
Consultation;
To get the house selling process running, you’ll need to reach out to the offices of HomeFront. You’ll talk with one of the representatives where you’ll give more information about yourself, the neighborhood, reasons for moving, and an overall description of your house. After providing your info, you’ll give the company around 24 to 48 hours before getting back to you.
Get Your Offer
After your information has been reviewed, you’ll be contacted with a cash offer. The cash offer can be made after you’ve taken pictures of the house, or representatives can visit your place for an onsite review. If the price offered doesn’t meet your valuation, there’s room for negotiation. You are not obligated to do anything.
Get Paid
After negotiations are done, and you’re satisfied with the cash offer, you have the freedom to select when you want to close, from where you can expect money in the bank.
Where do houses sell fast in the Spokane area?
Going with the available data on houses sold in Spokane, the homes in the following areas sell fastest: Moran Prairie, Northwest Spokane, and Nevada – Lidgerwood.
There are various reasons you may be looking to buy or sell a home in Spokane. No matter your situation, make sure to follow the guide mentioned above for a hassle-free guide.
