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8 Reasons why Utah is a great state to invest in real estate
Today, we’re talking about eight reasons why Utah is a great state to invest in real estate. And I’m just going to scratch the surface here, but let’s go right into it with number one.
We have a well managed government. There’s a real focus with our government in the infrastructure of the state, making sure it’s set up right and continually reinvesting into the infrastructure, as well as keeping costs low and having a surplus. We’re a surplus state. We have more money available to us every year that we could reinvest back into the state to see that we’re continually growing and developing and improving.
Number two is that we have low taxes, both in the personal and the business side, which makes it very attractive for business. Number one state for business, according to Forbes magazine back in 2016, and it continues to be one of the leaders for business. That’s why we have so many businesses coming into the state.
Which leads me to number four, which is job growth. So, there are folks out there and Entrepreneur magazine and different places where Utah’s been quoted to be the next Silicon Valley. We’re seeing Amazon coming in. That’s another 1,500 jobs that they’re creating here in the next little while. As well as Google being here and Adobe. A lot of big tech firms that are looking at Utah because of some of the things I already mentioned and saying, “This is a great place to invest, to start hiring people to grow their businesses.” So, number four, job growth, and a lot of opportunity there.
Number five, Utah is in the top 10 for seven of the leading metrics for economy. And so it’s just a strong economy that we have here in the state of Utah.
Number six is a quality of life. People enjoy being here because it’s considered a great state to raise a family in. But also because of the outdoors where we have available with the mountains for skiing and snowboarding, as well as southern Utah, the landscape. There’s a lot of outdoor recreation at our fingertips here in Utah.
Number seven, limited space for development. And I’m going to show you here on the map, this is the Salt Lake Valley here. We’ve got Salt Lake City and we have Salt Lake County, essentially, right here. We’ve got the Wasatch Front here on the east side. And we have the Oquirrh Mountains here on the west side. And then it kind of comes in to a point here down at the bottom. And up here we have the Great Salt Lake. So, we’re limited with what we can develop, which means that there’s going to be an increase in housing demand, which is really number eight.
We’ve got a demand for housing here because of the job growth, the companies coming in, as well as the natural landscape that makes it so housing is in demand a lot of the time. Which causes appreciation of an assets, which when you look at it from an investor’s perspective, there’s a lot of things that are leading towards an increase in appreciation, increase in demand, job growth. All these things that factor into Utah being a great state to invest in real estate.
Hope this is helpful. Feel free to reach out if you have any questions or if you’re looking to invest in Utah. We’re happy to help you find a property to buy and then we can manage it for you.