I have been helping people buy and sell their Utah county Investments for over 20 years. Over the years, I have noticed different things. I noticed that through the ups and downs in the market, Utah county investments have always been tied to income. In other words, when rent went up, so did value. For that reason, we didn’t see huge increases when other towns and cities were jumping 20% a year. But, we didn’t take the losses either. I would say that overall growth has been 3-5% a year.
In the Utah county investment market, you probably won’t see record appreciation, but you will be able to find good renters, and like any investment, the longer you hold on to it, the better off.
I’ve also noticed that duplexes/four-plexes near campus cash flow a little better than condos generally. Most of the multi-units are older homes that haven’t been maintained well, which is something to consider. With the older homes in particular, I always recommend getting an inspection. Whether that is a professional inspection, or one the buyer does personally. An inspection company I would recommend is Pillar to Post.
Our team of experts has a deep understanding of the local real estate market. We stay up-to-date on the latest trends and can provide valuable insights to help you make informed decisions.
I’ve bought and sold many homes in Utah county over the years, and I believe if you put some money into your investment, and maintain it well, you’ll get your money out of it, and see good appreciation. I bought a duplex in Provo, and painted it, put tile in the kitchen, pulled the carpet out and sanded the wood floors and sold it 1 year later and made $30,000. Not bad.
An appraiser will look at three things to determine the value of a property. Investors should be aware of these elements of value:
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