How Much Are Closing Costs on a New Construction Home in Utah?
It depends what you mean by closing costs. Title and lending costs alone typically run roughly 1 to 1.5% of the purchase price on a Utah new construction home. But what most buyers actually want to know is how much cash they’ll need out of pocket, and that’s a different number.
You’ll have a builder deposit upfront — on a dirt-lot build specifically, that’s usually a builder deposit plus a design center deposit. Builder deposits generally run $2,500 to $10,000, which isn’t much different from a typical resale earnest money deposit. Design center deposits are often a percentage of your design center upgrades above a certain threshold. For example, a builder might require a 10% deposit on upgrades above $30,000 — so if you choose $50,000 in upgrades, that’s 10% of the $20,000 over the threshold, or an additional $2,000 due.
Full breakdown: Lender Rate vs. Builder Rate: How Much House Can You Actually Afford in Utah? · Utah Builder Incentives