If you are looking for a home in Utah, you’ve come to the right place. The state is known for its great economy, low crime rate, and abundance of outdoor activities. It also ranks first in the nation for employment and economic health, giving you plenty of financial security. Plus, it’s dubbed the “adventure sports capital of the U.S.,” meaning that there are plenty of outdoor activities to keep you busy and entertained.
Buying a home in Utah
If you’re thinking about buying a home in Utah, there are several factors to consider. While the cost of renting a two-bedroom apartment may be less than the price of a well-finished home in Utah, it’s important to remember that the mortgage payment will be higher in the long run. In addition, many homes in Utah will stay on the market for 19 days longer than the national average. Since most buyers will need to pay closing costs out of pocket, asking a seller to cover some of them will give you the chance to negotiate a higher purchase price. If you’re able to negotiate with the seller, closing costs may even be rolled into your mortgage.
Aside from its low cost of living, Utah has many benefits to offer. Residents enjoy year-round outdoor activities and five national parks. The state is also considered one of the most economically stable states in the country. And thanks to its strong tech industry, its residents enjoy low unemployment rates and an excellent quality of life. For those of us who are looking for a place to call home, a Utah home can be the perfect option.
While the state has a relatively low property tax rate, the difference between counties is considerable. As a result, you’ll want to budget for closing costs, which range from two to five percent of the home’s value. In addition to the down payment, you’ll also need to budget for homeowner’s insurance, which typically costs between seven and eight thousand dollars. Plus, you’ll have monthly mortgage payments and homeowner’s insurance, depending on where you live.
Cost of living in Utah
Compared to other states, Utah is the happiest state to live in. According to a WalletHub study, Utah ranks number one in terms of happiness. Its citizens score high in emotional, social, and physical health, and are therefore likely to be happier. If you are looking for a place where you can enjoy all four seasons, a move to Utah is probably the way to go. It has the right temperature for just about any situation.
Transportation costs are also an important part of a household budget. As of July 2022, the average cost of gas per gallon is $4.69, and a typical Utah household spends almost a third of its budget on transportation. In addition to gas, car payments, auto insurance, and repairs also account for a large part of the household budget. It’s no wonder Utahns want to live near jobs and schools, and enjoy good access to stores, services, and transportation.
The cost of transportation and utilities are the two biggest expenses relative to national averages. Transportation is 10.9% higher in Utah than the national average, while utilities are 9.1% lower. Utahns value the quality of life that comes with affordable housing. Fortunately, there are many options available for affordable housing, which means Utahns can stay in their neighborhoods and contribute to their communities. The cost of living in Utah isn’t as high as it might seem.
Outdoor Activities in Utah
One of the most attractive reasons for buying a home in Utah is the plethora of year-round outdoor activities. If you like your adventures outdoors, Utah, with its five national parks, has something for everyone. The majority of the state is covered with mountains, which means endless gorgeous scenery, sparkling lakes and rivers, fresh clean air, and all the activities that go with it.
In the winter, you can go skiing, dog sledding and bobsledding, do some ice fishing, tubing, fat-tire snow biking, or enjoy Utah’s winter wonderland on a horseback ride. You can sign up for a guided snowshoe hike up the mountain top to a Yurt, where a multi-course gourmet meal will be served. For snowmobile fans, Utah officers a vast network of trails that combine sublime 10,000-foot views with heart-thrilling rides. Whatever adventure you choose, you can wind down your day with a warm, relaxing soak in a geothermal hot spring.
Summertime also brings lots of opportunities for adventure seekers, including world-class mountain bike trails that range from highly challenging to family-friendly. Paddlers will enjoy the serenity and beauty of SUP on the calm waters of smaller ponds. There is white water rafting on rapids, tubing, summer bobsleds and zip-lining, in addition to horseback riding and camping. For a truly unique perspective and experience, a sunrise hot air balloon ride is a spectacular way to welcome the day.