2024 has started off a little mixed for the real estate market in Utah. Some cities are still going very strong, while others seem to be limping along. It comes as no surprise that most of this hit-and-miss market is a direct result of higher interest rates on mortgages.
But with struggling markets come amazing deals for a new home in a 55+ community. Where are these deals? Let’s take a deeper look into the senior living communities across Utah and see if we can’t help you get into a new home in a 55+ community today.
Where to Buy in Utah, Finding the Perfect 55+ Community
South Jordan
Hearthstone Villas is our 55+ community located east of Bangerter at 9400 S. This is one of those cities that is currently weathering the storm of higher mortgage rates. Not only is South Jordan considered one of the premiere cities to live in around the Salt Lake area, but the housing market is still very strong here.
Also, in this community, we are nearing completion of our 1st phase of construction, and are beginning the second phase. This means that the landscaping of the neighborhood is nearly complete, and homebuyers no longer need to use their imagination to see how splendid this subdivision will be to live in.
The clubhouse is also under construction, and will be completed later this year. This will give new homeowners a chance to mingle and interact with each other, developing a strong and meaningful relationship with their neighbors while the community is still in its early stages of development. If there was ever a time to check out this 55+ community, and get a jump start on the kind of retirement you’ve always wanted, then now is that time.
Tooele
On the west side of the Oquirrh’s, is our 55+ community, Country View Villas. Tooele has not weathered the higher interest rate environment quite as well. There are a few reasons for this. One is that Tooele’s growth is slowing down. It’s often been a smaller city, due to the commute into Salt Lake City, however its growth has also been hampered by one important commodity—water.
To clarify, Tooele isn’t in danger of running out of water, it is just reaching capacity.
A city can only grow as fast as its water supplies allow, and Tooele is about to reach its maximum water allocation. This is bad for developers, but great for homeowners who don’t want a lot of new neighbors. This makes the name of this 55+ community more apt, Country View Villas, since the landscape is likely to preserve its pristine scenery for some time to come.
Here’s the real kicker though: For anyone wanting to get into one of our style of homes, the prices in Tooele are much better than the Salt Lake Valley. At the time of this article, we also have several homes that are move-in ready today.
If you don’t mind the commute, or if you just want a quieter city to enjoy your retirement, Tooele might be the right choice for you. Especially if you’re tired of Salt Lake prices, you owe it to yourself to give this country town a try.
A New Value Option
At Leisure Villas, we’ve always done our best to align your expectations for the ideal retirement with a home and community to match. Over the decades, we’ve grown to be Utah’s foremost homebuilder in this market.
Often, this means giving you a home that is already full of what other builders would charge tons extra for but as standard features, not gouging upgrades.
In Tooele, we’re planning to pilot a new value option to help those whose means aren’t quite what they hoped they’d be into retirement. We don’t know how this will go yet, but we’ve met with several wonderful people who might have been able to afford one of our homes before mortgage rates went so high but are now priced out of a new home.
Our goal is to build a few homes in our 55+ community, Country View Villas, that have some less expensive features than our standards usually call for. Our fully standard homes will also be available, but these value models will come with a fewer frills and will hopefully help you achieve your retirement goals in one of our communities.
These few homes will look the same from the outside, but on the inside, you may notice a few small changes. Our first ones are scheduled to begin this Summer. We don’t yet know how much we’ll be able to offer in savings, but check in with us often as we get going and see if this is the right home for you.
If you’re ready to invest in a Leisure Villas property and would like to schedule a tour of amazing 55+ community, don’t hesitate to contact us today!