Whether you are on the listing or buying side, the temporary rate buy-down as a seller concession is your client’s winning ticket in today’s housing market. It’s vital that real estate agents understand how this remarkable seller concession gets homes sold when interest rates are high. Or at least higher than we’ve been used to.

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There comes a time in most people’s life when renting their first apartment is a fun and exciting milestone. After several years of renting, you may find the shine has worn off the love of your lease. There may be several factors that weigh in on your decision to move on to a new location. Let’s take a look at four major reasons you may be ready to lose your lease.

1. Life is changing - You may not be in the same life situation you were when you first signed your lease to move into your apartment. The thought of living with 3 of your best friends, sharing a room and bathroom may have lost its appeal as one or more of you coupled up over the past few years. You may have gotten married or even started a family and renewing a lease for a space with no potential for expansion may not be your best bet. Keep in mind that even if your family expands those four walls will not.
2. Landlord issues - One of the perks of renting is having someone else responsible for the maintenance and repair work around your home. That advantage may have diminished if you are working with a difficult landlord. If your concerns are not being met in a timely manner or even worse ignored completely it may be time to look for a new living situation. A landlord that refuses to fix things around the house means that you either learn to live with the issue or fix it yourself. Typically repairing things, yourself incurs expense and your time. If you are able and willing to do these repairs on your own you may want to think about buying your own place.
3. Raising rent – With the housing market in its current status the availability of quality housing options is becoming harder to find. What does that mean for rent? When more people are trying to get into fewer homes landlords can charge premium rents for less than premium places due to the supply and demand. This means that when it comes time to renew your lease your landlord may be considering charging more for the same space. If you look and see that similar rentals in your area are going for more than your current rental rate be sure that your lease renewal may come with an increased price tag. Paying more without getting more doesn’t tend to sit well with most renters.
4. Buying a home is easier than you think – There are many options available assisting people to get into their first home. In Utah especially, there are several options available for first time home buyers to get assistance with their down payments. The best way to know what your home buying options really are is to find a professional loan officer and have them review your financial situation. They also will know all the programs available to you as a first-time home buyer. Getting into a home of your own may cost you the same or even less as what you are paying in rent, but will build equity for your future. To see what your rent vs buying situation may be click here.

So, whether you are looking for more space to rent, or you are ready to take the first step towards building a financially fit future by buying a home, take a look at all the factors that may affect your decision. Just staying put because “it’s easier than moving” may cost you more than just money.

The housing market here in Utah didn’t cool down over the cold winter months. Houses are flying off the market the day they hit the market, if not sooner. Now that the weather is heating up so will the real estate market and that leaves one very important thought for you to consider: “If you don’t LOVE your current home, why not build a new one?”

As life changes, so does what you need from your home.

As a young family, you may have moved into your current house with one or two small children but as your family has grown your home has not. Or consider the opposite, you purchased your home while all your children were living at home and you needed plenty of space to spread them out, but now that they have moved away do you really need to be cleaning that six-bedroom house or hauling laundry up three flights of stairs?

We currently live in a “sellers’ market” in Utah.

Some houses are going under contract before they even hit the market and selling for more than the asking price. Why? Because there are more families in need of homes than there are homes available. What does this mean for you? If you have worried in the past that your home may not sell or that you wouldn’t be able to get a good price for it, don’t worry anymore.

“Right now, it's a seller’s market because of the low inventory of single-family homes. Leavitt said it is extremely difficult to find homes in the $250,000 to $350,000 price range on the market.” -Chase Leavitt, ReMax Agent

This means that there may be buyers out there looking for your exact home right now, and probably lots of them! One of the biggest fears in building a new home in the past has been what do I do if my current home doesn’t sell. This market makes that a very unlikely situation.

Building a new home allows you to customize your home to your needs and wants.

From choosing the type of neighborhood you want to live in, to the exact floorplan that will work best for you, building a new home gives you control. Instead of choosing from the limited list of houses currently available you will be able to decide exactly what you want in your next home. While having the perfect paint colors and all the upgrades completed before you move in is just a perk, it definitely makes a move a little less stressful.

Financing for construction loans has never been easier, especially, here in Utah.

With all the new developments along the Wasatch Front (and off the Wasatch Front), you can find the best lender to help you fund your dream home. In the past construction loans were difficult and had lots of moving parts for you, the borrower, to manage. Getting a Veritas Funding construction loan has changed all that. We pair you with a construction loan specialist in your area to make sure that the process is streamlined. Our professional loan officers are trained to help you every step of the way.

So, whether you have outgrown your home or your home has outgrown you, building new is a great option for living in Utah right now. Don’t invest time, money, and tears into extensive remodels or additions when there are people interested in buying your home as it is right now.