The housing market here in Utah didn’t cool down over the cold winter months. Houses are flying off
the market the day they hit the market, if not sooner. Now that the weather is heating up so will the
real estate market and that leaves one very important thought for you to consider: “If you don’t LOVE
your current home, why not build a new one?”
As life changes, so does what you need from your home. As a young family, you may have
moved into your current house with one or two small children but as your family has grown your
home has not. Or consider the opposite, you purchased your home while all your children were
living at home and you needed plenty of space to spread them out, but now that they have
moved away do you really need to be cleaning that six-bedroom house or hauling laundry up
three flights of stairs?
We currently live in a “sellers’ market” in Utah. Some houses are going under contract before
they even hit the market and selling for more than the asking price. Why? Because there are
more families in need of homes than there are homes available. What does this mean for you?
If you have worried in the past that your home may not sell or that you wouldn’t be able to get a
good price for it, don’t worry anymore.
“Right now, it’s a seller’s market because of the low inventory of single-family
homes. Leavitt said it is extremely difficult to find homes in the $250,000 to
$350,000 price range on the market.” -Chase Leavitt, ReMax Agent
This means that there may be buyers out there looking for your exact home right now, and
probably lots of them! One of the biggest fears in building a new home in the past has been
what do I do if my current home doesn’t sell. This market makes that a very unlikely situation.
Building a new home allows you to customize your home to your needs and wants. From
choosing the type of neighborhood you want to live in, to the exact floorplan that will work best
for you, building a new home gives you control. Instead of choosing from the limited list of
houses currently available you will be able to decide exactly what you want in your next home.
While having the perfect paint colors and all the upgrades completed before you move in is just
a perk, it definitely makes a move a little less stressful.
Financing for construction loans has never been easier, especially, here in Utah. With all the
new developments along the Wasatch Front (and off the Wasatch Front), you can find the best
lender to help you fund your dream home. In the past construction loans were difficult and had
lots of moving parts for you, the borrower, to manage. Getting a Veritas Funding construction
loan has changed all that. We pair you with a construction loan specialist in your area to make
sure that the process is streamlined. Our professional loan officers are trained to help you every
step of the way.
So, whether you have outgrown your home or your home has outgrown you, building new is a great
option for living in Utah right now. Don’t invest time, money, and tears into extensive remodels or
additions when there are people interested in buying your home as it is right now.