The COVID-19 pandemic has dramatically altered not only the way we live, but also how and where we live. Bolstered by a strong economy and a high quality of life, Utah has never been more attractive to homebuyers. Read on to find out why the housing market in Grantsville, UT and Tooele County is on the rise.
Record low interest rates
It’s never been more affordable to own a home in Utah. Actual housing prices have remained high, but that hasn’t deterred homeowners from taking advantage of record low interest rates. Interest rates on a typical 30-year mortgage are currently below 3 percent, which has encouraged many first-time home buyers to finally take the plunge.
Utah currently boasts one of the lowest unemployment rates in the country, which is a definite draw in an economy that’s generally been decimated by the pandemic. People all across the nation are relocating to Utah not only for the plentiful job opportunities, but also for improved work-life balance in many instances.
Flexibility to work (or study) from anywhere
With working remotely having become commonplace, people are no longer tethered to physical work locations. Not having to factor in commute time opens up the search criteria in house hunting, perhaps even to a different state, and other considerations can have greater priority. In this day and age, it’s often much more important to have a strong internet connection at home than it is to be physically close to your workplace.
Those in the workforce aren’t the only ones taking advantage of being able to live anywhere in the country. College collaboration houses have emerged as a new trend of students renting vacation homes where they can learn remotely, with Utah being an affordable and attractive location for doing so.
Proximity to the great outdoors
It’s no secret to anyone who lives in Utah that the state’s natural beauty can’t be beat. With the current emphasis on outdoor living and recreation, Utah has become a premier destination for anyone who craves being closer to nature. No matter the season, Utah offers plenty of ways to spend time outdoors, from skiing in the winter to hiking in the summer.
More bang for your buck
Given how much time we’re now all spending in our homes, having the space to spread out has become more important than ever. Downtown living is no longer the draw that it used to be, with many swapping it for the spacious and quiet suburbs. As a result, many unexpected buying hot spots have emerged far from urban centers with unprecedented demand. These lower-density areas also allow for easier social distancing, which is a definite bonus in these unusual times.
Looking for a new home in Grantsville, UT and greater Tooele County? UpDwell Homes LLC is a family business that builds everything from affordable homes to semi-custom and custom homes. href=”/contact/”>Contact us today to start making your dream home a reality—we look forward to putting our nearly 60 years of experience to work for you!