How Much Does It Cost to Buy a House in Utah?

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By Jon Stubbs Updated May 17, 2024

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The average home buyer in Utah spends between $41,151 and $143,611 when purchasing a $519,182 home — the state median value.

Keep in mind, this is just the cost of buying a home. After you close, you'll still need to budget for all the ongoing costs of homeownership.

Luckily, Clever Real Estate can help make buying a home more affordable. Working with a Clever agent means you'll not only get great service from start to finish, but you could also be eligible for up to 0.5% cash back after closing. That's about $2,596 back on an average-priced home in Utah!

Clever will connect you with a top local agent and send you a check after closing. Contact Clever for full-service realtor recommendations.

Average closing costs in Utah

Expense Amount
Earnest money deposit (1-3%) $5,192 to $15,575
Down payment (3.5-20%) $18,171 to $103,836
Cash reserves $5,543 to $8,315
Closing costs (2.04%) $10,586
Inspection $203
Appraisal $205
Moving $1,250 to $4,890
Total $41,151 to $143,611
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Buyer closing costs in Utah

While the other costs to buy a house in Utah are pretty transparent, Utah closing costs are a bit more nuanced. They're actually a series of smaller costs lumped together into one total. Here's a breakdown of all of the Utah closing costs you'll likely pay when buying a home.

Closing cost Amount
Closing fee $519
Recording fee $40
Title service fees $630
Origination fee $2,596
Underwriting fee $600
Discount points $4,153 per point
Lender's title insurance $917
Owner's title insurance $1,131
Prorated property tax Varies
Transfer tax N/A
Total $10,586
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Does the buyer or seller pay closing costs in Utah?

The seller typically pays the bulk of the closing costs in Utah. The seller is responsible for costs like title insurance, real estate transfer tax, and recording fees. The seller also pays their listing agent.

Traditionally, the seller has covered the buyer's agent fees as well. However, a November 2023 lawsuit decision against the National Association of Realtors makes it likely that buyers will be responsible for their own agent's fees going forward.

Will the NAR lawsuit change how real estate commission works?

On March 15, 2024, the National Association of Realtors agreed to pay $418 million in damages to settle a real estate commission lawsuit the industry group lost in November 2023. 

While the full impact of the settlement is yet to be determined, experts believe that the change will eventually lead to lower buyer's agent commissions and give buyers the ability to negotiate those commissions based on the services they need. 

The terms of the settlement are scheduled to take effect in mid-July 2024. But, the settlement hasn't been officially approved yet, and it could be delayed or changed by objections. We'll continue to monitor the status of the settlement and the effects it has on the real estate industry.

» READ MORE:

Keep in mind, closing costs are often negotiable. Motivated sellers will sometimes agree to pay for some of the buyer's closing costs. However, to win the negotiation battle, you'll need a great agent who can work out a deal with the seller. Clever can match you with a top agent in your area that can get the seller to shoulder more of the above costs.

Contact us at Clever for top agent recommendations.

Cost to buy a house in Utah calculator

Ongoing costs of homeownership in Utah

Unfortunately, the cost to buy a house is just the beginning. After closing, you'll officially own the home and begin paying for the ongoing costs of homeownership.

Besides the expenses outlined above, you'll also want to consider private mortgage insurance (PMI) and homeowner's association (HOA) fees.

  • If you pay less than 20% as a down payment on your house, you'll probably have to pay PMI monthly until you get to 20% equity. For the average Utah homeowner, this is between $226 to $764 a month.
  • Some neighborhoods have HOA fees for the care and maintenance of common areas. The national average is around $250 per month.

» MORE: The true cost of homeownership

Top ways to save money when buying a house in Utah

1. Look into better financing options

Paying off debts and getting your credit in the best shape possible before applying for a loan will help you get a better interest rate, which will lower your monthly payments for the life of the loan.

You can also shop around to compare lenders so you get the lowest fees and interest rates available. It may be a good idea to enlist the help of a mortgage broker if you're not sure how to go about vetting lenders.

2. Participate in home buyer programs in Utah

Utah home buyer programs can make owning a home a bit more affordable in the state. The Utah Housing Corporation offers down payment assistance programs, favorable lending options, and grants for vets and those in law enforcement.

There’s also the Community Development Corporation of Utah, which offers down payment assistance to low-to-moderate income households buying in Salt Lake City, Salt Lake County, and Taylorsville residents. You may also find a local program in your county — the HUD lists a few of the most prominent ones.

» MORE: First-time home buyer programs everyone should know about

3. Partner with an expert agent

Some real estate companies, like Clever, offer home buyers a percentage of their home's price back after the sale finalizes.

That means if you work with a Clever agent, you'll not only get the expertise that helps you get the best deal possible — you could also get up to 0.5% of your home price back after closing!

Find your agent through Clever, qualify for cash back!

Clever matches you with top local agents so you can compare options and choose the best fit. And eligible buyers can get cash back after closing.

Fill out the form below and get started now. Clever's service is 100% free with no obligation.

Methodology

The Clever team of researchers gathered data for property taxes, transfer taxes, and recording fees using publicly available information. We found average costs for attorney fees, title insurance, and other services by requesting quotes from local providers. 

Home values are based on Zillow data as of May 2024.

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Authors & Editorial History

Our experts continually research, evaluate, and monitor real estate companies and industry trends. We update our articles when new information becomes available.

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