I just had a conversation with a past client… he bought his house in Salt Lake five years ago for $285,000. It is now worth $512,000. THAT’S AN 80% INCREASE IN VALUE. Talk about crazy! The other thing I love is that he was only 21 when he bought his house. This one decision has changed the trajectory of his future wealth like nothing else could.
Raise your hand if you wish you could go back five years and buy a few houses. ME!!!
The problem with this story is that it can feel discouraging to someone that hasn’t bought a house yet. I hear a lot of people say they are waiting for the market to crash again before jumping in. I personally don’t feel a crash is going to happen because, for the first time in 40 years, Utah has more people moving in than there are homes available. I do hope we see some leveling off, but home prices will continue to appreciate due to lack of inventory and Utah job growth.
The takeaway from this is NOW is the best time to buy a home if it fits your financial short term and long term goals. How do you know if it fits? LET’S TALK! One of my goals is to help you understand your loan options and see how buying a house can affect your future. No cost to you and I am happy to help even if you are not planning on buying a home for some time. CALL TODAY!