Whether you’ve lived in Logan all your life and are ready to look for your first home or you’re looking to relocate to this charming Northern Utah town, there are a few things you should know about becoming a Logan homeowner. If you’re wondering where to start, we’ve got you covered. Here’s everything you need to know about the home buying process in Logan, Utah.
Check Out the Market Performance
Buying a home is a big decision and a big investment. Many Utah cities have high-performing markets right now, so how does Logan compare?
The median home price in Utah was $384,000 at the end of 2020. In comparison, Logan’s median price is $234,737. The affordability of Logan homes is great news for buyers hoping to enter the market for the first time. Anyone hoping to use their Logan home as an investment property should be similarly happy to know they don’t need quite as much cash upfront as they would in some of Utah’s pricier locations.
Although Logan prices are currently lower than the average in Utah, home values are forecasted to increase by as much as 5.7% in 2021, so you can feel confident about your investment.
Get to Know the Logan Culture
Before you become a Logan homeowner, you should get an idea of what it’s like to be a resident. Many people love Logan for its small-town charm, paired with some big-city amenities.
For many residents, Logan culture revolves around outdoor life. You’ll rarely find locals who haven’t been to Logan Canyon or Bear Lake. Because of the easy access to all kinds of outdoor activities, Logan locals are used to stunning sights that many people have to drive hours to reach.
In addition to the outdoor attractions, the city’s arts and culture scene is thriving. The Utah Festival Opera brings world-class talent to Logan every summer. There are also multiple dance companies and numerous theater performances, making this a perfect city for art lovers.
Utah State University also makes Logan a great place for owning rental properties. Whether you’re planning on making your home a rental property right away, or you have ideas of finding tenants years down the road, you’re unlikely to have any issues finding renters from Logan’s large student population.
If you’re already a Logan resident, you may feel like you know the city quite well, but there are regulations you may not be aware of that are unique to homeowners. If you’re planning on being a landlord, it’s important to be aware of rules about maximum occupancy, which vary by neighborhood. Be sure to look up the regulations in your prospective neighborhood before you make your purchase.
Determine your Financing Options
One of the first steps in becoming a homeowner deciding how you’ll finance your home. While some buyers make their purchase without a loan, it’s more common to work with a lender to finance your house.
While finding the right lender might not be the most exciting step in the home buying process, it’s the step that’s likely to have the biggest impact on you long term. If you go with a lender whose rates are too high, you could end up wasting thousands of dollars each year in paying extra interest.
Be sure to shop around to find a lender with a good interest rate who’s also easy to work with. Homie Loans™* has a guarantee that they can beat any other lender’s rates, and if not, they’ll give you $500 cash.*
Choose an Agent Who’s Got Your Back
If you’ve already started the search for an agent, you’re likely aware of how many options there are. While real estate agents aren’t too hard to come by, truly expert agents can be, and these are the types of agents who make all the difference.
Expert agents know how to negotiate prices to get you the price you’re looking for. They also know how to build a compelling offer so you get the house you want, even if you’re facing some competition. These agents also understand the ins and outs of the local Logan market.
It’s important to find an agent not only knows the intricacies of the industry but also who clicks with you. This agent will be a top-notch communicator, and they’ll be able to understand the details of your dream home. They’ll use this knowledge, combined with their local expertise, to find you a house you feel great about.
It may sound like an agent who is so highly skilled would be too good to be true or else they’d cost a fortune to work with, but at Homie, we have some of the highest performing agents in the industry. They’re ready to work with you without breaking the bank. In fact, when you work with a Homie agent, you can keep up to 50% of the buyer’s agent commission.* If you’re ready to work with a Homie pro to buy your Logan home, click here to get in touch!
*Subject to terms and conditions.
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