Best places to buy new home in Salt Lake County

[Dee Deeksha]

Hi,

I and my husband recently moved to Utah and are looking to buy a new home in and around Salt lake county. We have looked into Daybreak, Millcreek, Murray, South Jordan. At this point we are totally confused. Daybreak looks very nice. I donot know how far is it good to buy a house in Daybreak. The community looks good but the houses are too close to each other.

If you had like 450K, where and which type of house would you buy in salt lake county to convert it to rental property in future or make some money on the property when sold in future. Please advice!

Thanks,

[Eric Gardiner]

Hi @Dee Deeksha If you are hoping to live there and then eventually move out and rent it then you will want to look at rental rates and demand for rentals in that area. I personally would not do anything in Daybreak and that is in large part due to the HOAs that exist there.

I bought my first house that also had a mother in law apartment in Sugarhouse. We bought there because it was close to my job and it is a very happening place. Rents are sky high. We bought that place 7 years ago. Since then I have moved out and rent our both units and make a great amount of cashflow. 

Things to consider when you shop for a home.

1. Location and the commute for you.

2. Location and the possible rents you will be able to charge in the future. 
3. what will be your cashflow once you do start renting it out. Do the rents in that area justify investing there.

4. Is the house in the condition or age you prefer or feel good about owning. Some homes close to downtown are very very very old. Be ready for that. 

If I had $450K. I would buy a duplex in Sugarhouse, Millcreek, or near Foothill drive with an FHA loan. Then I would rent out half and live in half.

Good luck and have fun!