Perhaps you’re looking for a place to settle down and grow old or you’re trying to find a good place to live to jump-start your career. Utah is the best option for anybody who wants to buy a house.
You can have your cake and eat it too! With the low mortgage rates in Utah, you can easily buy your dream house and not have to pay double its value in interest. It’s a pretty good value for money.
As of now, interest rates average at 3.96% for a fifteen-year mortgage. This is especially beneficial to first time home buyers. Just look for a lender that will give you reasonable rates, and you’re good to go.
Real estate values are also within reasonable range; they’re much lower than that of big cities like New York or Washington D.C. Houses average at 349,000 dollars which is such a steal.
Utah has one of the best job markets in all of the United States of America. The unemployment rate is at 3.1% and has been declining since 2010.
According to a study by Wallethub, Salt Lake City is the 13th best city of the 150 populated cities in the USA to start a career.
Currently, the highest paying occupations in Utah include any career in the medical field, engineering, and CEOs. If you fall under any of those categories and want to jumpstart your career, you know where to go.
Utah is one of the eight states that have implemented flat tax; they have a 5% rate. However, Utah does not technically have a regulated deduction. It offers a non-refundable tax credit equivalent to 6% of your federal withholding, and it also allows personal exemptions.
There have been many oppositions from non-Utah residents regarding this progressive tax system, but the locals say it worked well for them. If you so happen to be a fan of this concept, it’s another great reason to buy a house in Utah.
Because Utah isn’t as populated as other states, you don’t have to shell out so much cash every month to get by. The whole of Utah, as earlier mentioned, has great mortgage rates making real estate easy for its residents to attain. Not only that, they have a great and affordable health care system.
If you have any concerns about mortgage loan programs or if you’re looking for a reliable lender, feel free to contact us. We’ll be more than happy to help you.