You need to stay with me on this.
I want to tell you why building 100 new homes is good for Tooele County UT.
It’s good for all of us. No matter if you are one of the buyers of that new construction, or if you are an agent that is part of the transaction, everybody wins.
Let me explain.
And…… let me borrow, share and demonstrate a great info-graphic that came to me over the internet from the National Association of Realtors. I think it was from Mr. Yen as he talked about the impact new construction has on a community. He used as a base point 1,000 houses. We can’t possibly project 1000 new homes or condos being built in Tooele so I’m going to use 10% of that benchmark.
Inasmuch as last year new construction accounted for 108 new home sales, there are currently only 60 or so new homes listed in the county and inventory of existing homes for sale is pretty tight I think that’s a fair assumption.
Impact of Building 1000 Homes in An Area:
Notice from the graph that while the most obvious beneficiaries of new construction activity, the Real Estate and construction industry make up the bulk of the jobs income and profits, they by no means tell the whole story.
What Building 100 New Homes in Tooele Utah Could Mean
- Jobs created by the new construction in all industries are almost 300 with wages and salaries of over $16 million dollars.
- Construction jobs for the area will exceed 175, with a payroll of nearly $96 million.
- 2 Real Estate related jobs generate income of over $100.000 Professional, management and Admin services.
- Manufacturing adds 36 jobs and nearly $2000,000 with a payroll of over 1.9 million.
- Trade, transportation and warehousing generates another 27 positions.
- 5 additional positions will be created in the financing and insurance industry.
- Professional, management and Admin services will account for just over 20 positions.
- Miscellaneous and others ( which could be permits and fees) create 18 jobs with income of about 1 million dollars…
Once you begin to add the taxes each homeowner will contribute to the Tax base, it seems pretty obvious that new construction and new home building can vitalize an area.
Want to do your part? Want to start looking at new construction? I’d love to help. I have the experience and know about all of the builders. Who delivers what they promise, what to look out for when buying a new home and where to look for the best possible financing. You can learn some of this knowledge by reading our post about buying a new home in Tooele UT.
Still have questions? give me a call. Berna @ 435-840-5029. We can discuss the personal advantages of buying new.
Lets talk about why building 100 new homes is good for Tooele County UT, and why buying one is good for you.