There are so many reasons why buying a new home in Tooele Utah makes sense that I don’t know where to start. But here are 3!
Plus some comments from other voices in the industry.
Good previously owned homes are scarce.
- Lots of good new construction inventory
- Proximity to Salt Lake compared to other parts of the valley.
Problems With Pre Owned Homes In Tooele UT
Most of all based on what we have seen, previously owned home inventory is just a fraction of what it was a year ago. Listings are down, and we are in the middle of a sellers market.
One of the things that has happened is that buyers are bidding up the price of good houses so that listings are often selling at more than list price; many in just a couple of days from hitting the market.
That alone causes chaos in the real estate market as contracts are negotiated that cannot be supported by appraised value. Lenders loan on value not sales price.
Mortgage money is not available without more down payment than most buyers are willing to part with. Home buyers figuring on a 3% or 5% down payment are facing cash requirements equal to 20% or 25%. Plus, seller paid closing costs which have been almost a traditional ask, are now almost non existent.
Those challenges don’t exist in the new home market, and with a large number of new construction homes listed on the MLS selection is great.
New Home Inventory in Tooele County
New construction is popping up in all areas of the county. Different features, and distinct pricing characterize many of the developments. I would suggest that you compare prices between the various Tooele cities as well as evaluate the premium you might pay in Salt Lake County vs Tooele County. (It’s huge). Here are some listings built in 2017.
- Tooele City new home listings
- Stansbury Park new construction
- Grantsville UT new homes
- Erda Utah homes built in 2017
- Lake Point UT new construction
When making a price comparison be sure to check lot size on each listing. Obviously new homes for sale with animal rights will include a larger lot than you would find in a new home subdivision.
Location, Location, Location, Lifestyle:
The final advantage of buying new construction in most parts of Tooele County is location. In Tooele you can live a rural lifestyle with all that that means and all of the advantages afforded by local activities, outdoor living, small town involvement and the neighborliness only found where you know the family next door and see everyone worth seeing each time you go to the market. But… no need to sacrifice big city activities or sports or the arts. Salt Lake City, the capital of the state is just a short freeway trip down the interstate.
Want more proof? Here are articles explaining the many benefits of buying new construction and some tips to help you along the way.
Aug 8, 2016 … Some people hate hand-me-downs; others like things with a history. When it comes to housing, new construction has a never-been-touched …
May 14, 2017 … Buying a house can be a daunting task, especially if you don’t have a lot of cash on hand for the down payment. If you’re a first-time home …
I hope you have found something that helps you decide on at least looking at the possibilities offered in buying a new home. And …. I hope you remember where you got the info. My reasons are obvious
- I love selling new construction,
- I love Tooele County
- I’d like to be your agent.
Check out what I bring to the deal by checking out my bio @ Berna Sloan, and then take a look @ all of the stuff I’ve written about Tooele Real Estate, then call me 435-840-5029. I have a lot more reasons why buying a new home in Tooele Utah makes sense.