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The housing market in Utah is anything but slow right now, and that's not unique to the Beehive State. According to the June 2020 REALTORS® Confidence Index Survey, more than 60% of homes listed sell in less than one month. In Utah, a home is on the market for an average of just 18 days before it's sold, reports Utah Real Estate.
If you're in the market for a new home, it can be terribly frustrating trying to secure a home before 10 other offers are submitted. That could be why so many Utahns are ditching the existing home market and are opting for a new, unique home.
To help make your home building experience more streamlined, Visionary Homes wants your input on what matters to you in a home and community. Take their survey to see what kinds of unique details your future home could have.
Because building a home is a big, yet worthwhile commitment, there are a few things you should consider.
Location, location, location
If you have a dream neighborhood or now a general area you'd like to settle down in, make sure you do your research. Don't go visit lots only during daylight hours—visit at night and in the morning. You might not be aware of sounds or crowds that come alive at night. For example, if you're looking for a quiet area, check out the lot at night to make sure you can't hear any distant (or near) trains.
Knock on some doors in the area and ask people how they like living there. Ask about nearby schools, restaurants, public transportation access and everything in between.
If you're a long-term thinker, make sure you consider your location in relation to your home's appreciation (or depreciation) value. According to a 2018 report from the Kem C. Gardner Institute, Layton's home values increased 11.8% in 2018. Ogden, Logan, Provo and Murray were not far behind in appreciation values.
Choose a home builder that shares your vision
There are dozens of home builders out there, but the one you choose should share the same vision for your new home. You should be on the same page about the quality of materials and craftsmanship so you're not surprised in a few months when something isn't what you planned.
You should also be able to ask questions and expect a uniform answer. Nothing is more confusing than asking one company representative a question and later asking another and getting two completely different answers.
Additionally, your builder should be one that is permitted to build in the area you want. Certain builders have secured land in certain subdivisions, so make sure your location and builder can work together.
Customization
Of course, one of the perks of building a new home is designing and choosing all of the design details yourself. You want to choose a builder that will not only accommodate your ideas but offer you different options than the standard features.
Moving.com recommends talking to your builder about features like heated floors, cabinet lighting, and custom shelving for your convenience. Of course, you could manually add these features in later, but if the builder can add it to the plan, it's one less project for you to tackle later on.
Lender relationships
Who your builder decides to use as a preferred lender might be the last thing on your consideration list, but it should be toward the top. While you can finance your home however you decide, you might get better incentives through your builder's preferred lender.
On the other hand, certain lenders have more stringent requirements to secure a loan. You want to make sure your relationship with the lender is one of mutual trust. Shop around and see what rates other lenders are willing to give you, and then discuss your options with the lender you feel most comfortable with.
Community amenities
Now, more homebuilders than ever are making a neighborhood feel like its very own community. You can find many different amenities with the purchase of a lot and a new home—it's a package deal. Some areas offer private hiking or walking trails, fitness centers, pools, clubhouses and more.
Be sure you look into what is included with the lot, home and area when you decide to build a home. You could get more out of your new build than just a home!
Visionary Homes wants to hear from you, the prospective buyer. In order to build the types of communities and homes people want, they want your input on what you value most when you're deciding to build a new home. Take the survey for a chance to make your voice heard. The first 50 participants will also win a $10 Amazon gift card.
