Salt Lake City Utah Real Estate Blog

First Time Homebuyers In Utah

Friday, June 20, 2014

One of the most concerning things that real estate watchers are seeing lately is a downward trend in first-time homebuyers finding homes. This has to do in part with discouragement about not being approved for a mortgage. As a result, the UTAH home buying forecast for first-time homebuyers is soft and discouraged new buyers are turning to rentals, while families abound.

If you're a first-time homebuyer looking in the SALT LAKE CITY area who has had frustrations with not being approved for mortgage, there are ways that you can still get qualified and into a great home. Your UTAH real estate agent can give you details, but with programs from the Federal Housing Administration and first-time homebuyer programs, new buyers don't have to be discouraged.

From AMERICAN FORK to MILLCREEK, homes are going up for sale as the market continues to strengthen. Don't lose heart if you've been told home ownership isn't for you. Finding the right home is as important as securing a loan because you'll need to find a home you can reasonably afford. Your UTAH real estate agent will help you find a home that meets your needs and with programs available to first-time homebuyers, finding the financing you'll need for a purchase doesn't have to be impossible.

Make sure you are looking for homes within your ability to repay, experts say. Prioritize your must-have's and be prepared to give up a few "wants" for when you buy your next home. First homes are a great way to build equity and put down roots of your own in the SALT LAKE VALLEY.