Is renting better than buying a home in Salt Lake City, Utah going into 2024? With interest rates hovering around 7% lately, housing affordability is a real concern in the Greater Salt Lake City area and Utah as a whole with home prices at the highest they’ve ever been and interest rates higher than we’ve seen in over a decade (more like 2 decades).
Today I was talking to a friend with a son who is paying $2,000 monthly for a 2-bedroom apartment in Tooele. At first, that might not sound too bad for some people. But, today’s video I’m sharing is about a number that blew my mind when you put the numbers to renting for $2,000 per month and possible alternatives to look at if you want to stay around that type of payment each month for housing.
There is no easy answer for the question about buying or renting and everyone’s situation is different. Deciding between renting and buying in the Greater Salt Lake City, Utah area right now is difficult for most people and you need to carefully consider many things like your financial situation. Today’s video I’m sharing with you talks about renting vs. buying but be sure to watch the entire video as I give some numbers that blew my mind when I really thought about it!
If you’re considering buying a home in the Greater Salt Lake City area, don’t hesitate to reach out to me and we can talk about your options!
