Buying Vs. Renting in Bend: A Guide to Finding Your New Home

If you are moving to Bend or currently making plans to do so, you are probably also making plans about whether to buy or rent, depending on your situation. This is also a long-term decision: Do you want to buy a home as soon as you can, or are you happy to rent for the foreseeable future? If you’re comparing both options, we have several tips that can make your decision a bit easier.

Renting a Home in Bend

Renting is a popular option in Bend, especially for young professionals who have recently moved here. Rentals in Bend, however, can also be challenging to find at affordable prices, as there is high demand and low vacancy rates throughout town. Here are several points to keep in mind:

  • While finding a vacancy may be a challenge, renting is still the fastest way to arrange a place to move to in Bend. Options like Airbnb are also well-suited for renting for just a few days or weeks while checking out the city or arranging for other accommodations.
  • If you want to find a rental, work with a relocation service or property management company in Bend.
  • Homes for rent in Bend span a broad range of locations and types, from cabins and farmhouses to townhomes and condos. This makes renting one of the best options if you want more choices about where to stay in Central Oregon.
  • Always check if a rental is pet-friendly, and what kind of additional fees may be required for pets.
  • Rental prices in Bend start at around $1,500 but increase for larger spaces or single home rentals.
  • Life gets busy: Moving To Bend can help you locate rentals in your price range and more options to save time! If you are looking at rental sites on your own, don’t stick to just one site: You may be able to find other options by consulting a variety of listings.

Buying a Home in Bend

You can check out our page on buying property in Bend to learn more details, but real estate inventory in the city is very low – particularly at this point in time – so buying may be a bit more of a challenge. It’s important to start looking for properties early and be willing to act fast if you find a home you want to purchase. Here’s what else you should know about purchasing a home in Bend:

  • A key step in purchasing a home is arranging for a mortgage and getting pre-approval, which will make putting an offer on a property much easier. Get started on this process early, too!
  • What prices are we talking about? New lots are regularly selling for $100,000 over the asking price. Price per square foot in 2020 averaged around $400.
  • Keep in mind that a mortgage payment can be fixed, and may even be adjusted down with a refinance in time, but rental payments can rise, which is one reason why buying a home may be a better long-term plan for you.
  • If you are looking for the best neighborhoods in Bend, it’s common advice to start in the northwest area of the city and work outwards. The good news is that there aren’t any “bad” neighborhoods in the city to warn against, and new spots like Summit West tend to have more new development options.
  • Cash, patience, and flexibility” is what the Bend Bulletin advises for potential homebuyers. All three will make the process easier.
  • Keep in mind that Bend now has a new high school zone for Caldera High if you are looking for a new home based on school options.
  • Your own property remains the best option for keeping a garden or just finding a home that you can really make your own.
  • Many homes in Bend sell before even going on the market, or once listed often sell within just a couple of days. It’s important to have a contact on the ground in the city, ready to act on your behalf or seek out properties for you.