Reasons For Buying Your Dream Home in Tooele Utah

There are a number of reasons for buying your dream home in Tooele Utah.

The best way to explain what they are is to compare them to already identified reasons for buying a house.

With that in mind, I am copying and pasting an article from KCM that appeared in my blog last week. It gave answers to 3 questions a home buyer should ask before getting a new home for the family.

In addition to re-posting, I am going to comment on some of the ideas that will explain why I think you should consider Tooele County as a potential location for that ideal house or condo. Here goes. Enjoy!

3 Questions to Ask Before Buying Your Dream Home

3 Questions to Ask Before Buying Your Dream Home | MyKCM

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is actually a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a recent survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the four major reasons people buy a home have nothing to do with money. They are:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.


2. Where are home values headed?

According to the latest Home Price Index from CoreLogic, home values are projected to increase by 5.3% over the next 12 months.

What does that mean to you?

Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait until next year. Your down payment will need to be higher as well to account for the higher home price.


3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase over the next twelve months as you can see in the chart below:

Mortgage Rate Projections | MyKCM

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

I hope you found this info helpful. You probably realize by now that the 3  areas we just discussed can be broken down into the following.

  1. Lifestyle
  2. Value
  3. Interest rates

Lifestyle In Tooele County

When you compare lifestyle with other places along the Wasatch Front & the Salt Lake Valley, Tooele can’t be beat.

Each of the major population centers of the county, IE: Tooele City, Grantsville, & Stansbury Park   are unique and offer their own considerations for the ideal place for your dream home.

Looking for horse property, or just extra large lots for a big garden or room for the kids to roam? Look in Grantsville UT or the south eastern part of Tooele City, where large lots with animal rights are the rule rather than the exception.

Want to live in a newer more upscale community? Look for homes for sale in Stansbury Park UT. You can have access to golf, boating and community amenities. Stansbury is a great place to downsize to a condominium or town-home.

Tooele County Value

A quick and easy way to determine value is to compare the cost of similar properties in different areas ( those you want to compare against). Lets see how much it will cost to buy a 4 bedroom 3 bath home on a half acre in a few communities along the Wasatch Front.

What a huge discrepancy. Obviously there are many differences in quality and location, but if you drill down and match these listings with your idea of your dream home you can better determine value.

Future Interest Costs

No one can really predict where interest rates are headed. But 2 things are clear, 1. Interest rates will probably go up. 2. The cost of financing a home will be the same in Tooele County as in any other neighborhood. No advantage here! …. But,…………. part of what makes a dream home so great is , “it is affordable”.. So, since we think rates are on the up-tick, you had better move soon. So, there you have it.

Hope this was helpful, and that if you are ready to take that next step and start looking for that new home you will check me out and give me a call 435-840-5029.

I know more reasons for buying your dream home in Tooele Utah.


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