Utah Real Estate

A friend ask me this week when is a good time to buy a home in Utah.  He said he was worried home prices are going up and interest rates will be going up as well.  “How much does that really affect”, he ask?

First and foremost, buying a home should match your current goals and objectives.  Buying a home just to buy, may not be the best idea.  But if you are currently renting, your family is growing or if there are other events that will drive you to a home purchase within the next two years, then yes it is better to buy sooner than later.

Lets give an example: 

If you were considering buying a home today for $200,000 with a interest rate of 3% for 30 years fixed, then the principal and interest portion of your payment would be $843 (this is excluding taxes and insurances).  …

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