Housing Affordability in Lehi

Experiences

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  Spec Home Seeker

  by zacdecker, about 4 years ago
  My fiancé is an attorney and I sell tech. We’re both young and frugal, and want to stop paying rent and get a mortgage so we can get equity. My dream is to buy the tiniest 1 or 2 bedroom house we can find where we can settle down and think about having a kid in 3-5 years.

  
  We spoke to Ivory Homes, who revealed that the vast majority of their developments will be “signature” (very large and expensive) homes.

  
  
  

  
  

  My fiancé is an attorney and I sell tech. We’re both young and frugal, and want to stop paying rent and get a mortgage so we can get equity. My dream is to buy the tiniest 1 or 2 bedroom house we can find where we can settle down and think about having a kid in 3-5 years.

  
  We spoke to Ivory Homes, who revealed that the vast majority of their developments will be “signature” (very large and expensive) homes.

  
  
  

  
  
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  Apartments are for tesla owners

  by Rcosby, about 4 years ago

  So many companies are taking advantage of the market to rent out cheaply made, half finished "luxury" apartment complexes at 2 or 3 times what they are worth. There are no affordable apartment complexes. As a college grad with an entry level office job I didn't know where to look for affordable options besides apartments. I ended up paying 70% of my income for a tiny studio apartment where the elevator and ac kept breaking and the local teenagers kept writing profanities in the constant construction dust from the unfinished units. While the 24/7 gym and reserved parking were nice... Continue reading

  So many companies are taking advantage of the market to rent out cheaply made, half finished "luxury" apartment complexes at 2 or 3 times what they are worth. There are no affordable apartment complexes. As a college grad with an entry level office job I didn't know where to look for affordable options besides apartments. I ended up paying 70% of my income for a tiny studio apartment where the elevator and ac kept breaking and the local teenagers kept writing profanities in the constant construction dust from the unfinished units. While the 24/7 gym and reserved parking were nice (once they were done), I had a few hungry weeks, especially during the lockdown. I couldn't afford furniture, so sat on the floor while working from home.

  I finally found out from friends that no one who can't afford a sports car rents apartments in this town. That explained all the teslas in the parking lot. My friends were all renting small single bedrooms in a townhome. Never would have thought to look there, but it is much more affordable. I've been doing that ever since, but it would be nice to afford a place where I don't need 3 roommates to get by though. I'm worn out from years of overcrowding, not being allowed to have a pet or a space to garden in, constant fighting over the thermostat, storage space, and turns in the bathroom. I cry a little every time I get a raise or promotion at work and realize that I still am about 20,000 per year short on being able to afford a mortgage for the cheapest townhomes. There's no end in sight.
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  Accessory Dwelling Units Must Have Off Street Parking

  by lnkmom, almost 5 years ago
  If the city is going to allow Accessory Units (MIL apartments/Basement apartments/tiny homes) the home owners must be required to provide Off Street Parking for those units. Nothing makes a neighborhood more unappealing than driving through streets fully lined with cars on both sides of the road. Additionally, we currently have an ordinance dictating there is no overnight parking on city streets overnight during the Winter, this isn’t enforced. If people are already clogging our streets without these units, how will our neighborhoods look if these units are allowed?

  
  

  PS. We already have two of these illicit rentals in basements... Continue reading

  If the city is going to allow Accessory Units (MIL apartments/Basement apartments/tiny homes) the home owners must be required to provide Off Street Parking for those units. Nothing makes a neighborhood more unappealing than driving through streets fully lined with cars on both sides of the road. Additionally, we currently have an ordinance dictating there is no overnight parking on city streets overnight during the Winter, this isn’t enforced. If people are already clogging our streets without these units, how will our neighborhoods look if these units are allowed?

  
  

  PS. We already have two of these illicit rentals in basements on our street… so you might as well start regulating them.
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  Young Professional- Wishful Homeowner

  about 5 years ago
  I think everyone knows the housing market is insane right now. Condos are listed for close to $350,000. And from what I have heard from realtors and friends looking to buy, most things are going for at least $50,000 over the asking price.

  
  

  I am a young professional with a master's degree. Working for the government I knew I would not ever earn the top dollar. I did always plan on buying my own place though. That seems less and less likely as prices continue to rise. Some of that seems related to the effect of Covid on the supply... Continue reading

  I think everyone knows the housing market is insane right now. Condos are listed for close to $350,000. And from what I have heard from realtors and friends looking to buy, most things are going for at least $50,000 over the asking price.

  
  

  I am a young professional with a master's degree. Working for the government I knew I would not ever earn the top dollar. I did always plan on buying my own place though. That seems less and less likely as prices continue to rise. Some of that seems related to the effect of Covid on the supply chain, but also a lot of it is lack of supply for the demand, the ever increasing cost of skilled labor and materials. and increasing limitations of government regulation. I actually took a Housing Affordability Lab class at the University of Utah where we were talked with many experts in the housing market. They all expressed that this is different than before the recession in 2008. The challenge this time is trying to find solutions that allow for people to buy homes.
  
  Recently, the place where I am living with three other young professional women, told us they are selling the townhome and we need to move by the end of May. So I started looking at potentially buying or continuing to rent. Trying to buy seems completely out of the question, but even rental prices are going way up from what they were even a year ago.
  
  Housing affordability may just well be one of the biggest problems of our time. It is a universal problem that also affects individuals and families in personal and significant ways. A place to live is a basic need that can cause huge amounts of stress. I want to hear all of your experiences with this challenge too.