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2012-06-02 08:35:41
Race Fans, Buy a Second Home in Tooele

2012 Could Be Your Year to Buy a Second Home in Tooele

 

If you're a race fan and ever dreamed of purchasing investment property, owning a vacation home or buying a home in Tooele County so you could be near Miller Speedway, this could be the year to check that off your bucket list.  With record low interest rates and decreased prices, it is a buyer’s market, particularly in the second-home market. 

 

Before you sign on the dotted line of another mortgage, be it for a golf course home in Stansbury Park or a house in Tooele that you plan to rent when the cars  and motorcycles aren't racing, be sure to:

  • Check your credit. The same rules apply for a getting a mortgage on a second home as on a first.  Good credit means better loan terms.
  • Save for a down payment. The more money you can put down, the lower your mortgage.  If you put 20% down, you can save money by avoiding Private Mortgage Insurance (PMI) requirements
  • Check your budget.  It may be cheaper to rent that race track hideaway for a month than pay a mortgage year round. Consider what you really want in a second home, and what you are willing to pay for that. 
  • Check your time.  Choose a second home carefully and make sure that you will really use it, or can rent it when you are not using it. There is no sense paying for a second home that remains shuttered and locked. 

 

Once you consider the basics of your situation, you can begin looking for a motor sport oriented second home with the confidence that you can afford the time and expense it requires.  Your second home in Tooele or Stansbury Park could be just around the corner – or hay bale.

If buying a second home in Tooele County is on your bucket list, give me a call today at 435-840-5029 or begin searching for Tooele homes for sale. Today!

 

 

 

 

 

 

 
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