Considering a Vacation Property or Second Home in Park City or Deer Valley?
If you're an experienced buyer of real estate in other states, you will find that the real estate purchase process in Utah differs substantially from other states. You can save time by understanding some of the basics up front.
Some other important items to consider while you're doing your market research:
Are you going to offset some of the costs of ownership by renting the property out?
Certain Park City and Deer Valley neighborhoods allow short term rentals, others prohibit them. Short term rentals are generally defined as less than 30 days. Obviously, if you intend to rent out your property on a short term basis, you can save time by focusing on real estate that allows that use. Watch this short video for more information:
If you're purchasing as a second homeowner and don't intend to rent the property, you have many other options. However, to find a second home in the location that works best for you, please also consider the items listed below.
Access to skiing?
Do you intend to purchase real estate that is ski in ski out at Park City, Deer Valley or the Canyons? Walking distance to skiing? Ski access can be very straightforward - picture skiing directly off the run and up to your back door, or somewhat nuanced. Ski access can also be more or less approachable to different ability levels. Some access is ideal for all ability levels, sometimes the access requires a little more skiing experience. We can stream-line and enhance your research by helping you focus on real estate that meets your needs and vision of what you want in a ski property.
Access to Historic Main Street or other shopping and dining hubs?
Historic Main Street and Old Town will always be Park City's cultural hub and the center of many activities and events. The real estate that is within walking distance of Main Street and the Town Lift commands a premium and is popular with second homeowners and visitors to the area. Park City does offer some alternatives to Main Street for walkable communities that are offered at a fraction of the price. If being within walking distance of shopping, dining and other events is important to you, we can help you focus on the right areas.
Paying cash or financing?
If you're planning on paying cash- great! Paying cash for your real estate purchase can put you in a better negotiating position. If you are planning on financing your real estate purchase, there are plenty of great loan products available to second homeowners and investors. However, there are lending issues that are unique to resort real estate markets. To help you side-step some of these issues, and avoid wasting time and money, please take about 8 minutes to watch a video by clicking here.
Access to golf and or ownership in a private golf community?
Park City and surrounding communities offer many private and public golfing options- there's something for everyone. If part of your Park City real estate search involves being on or near a golf course, we can narrow your search and offer some suggestions.
There are several real estate ownership opportunities within the Park City are within private, gated communities. These communities offer varying amenities and are located throughout the Park City area- some are less than 10 minutes from Park City, many others are 15 to 30 minutes from downtown Park City.
Access to community amenities?
Many Park City and Deer Valley projects include access to amenities. Please let us know if there is a certain amenity that interests you (pool, outdoor spa, tennis courts, so on). We can point out the projects and real estate that include access to your desired amenity features.
Real Estate located on Park City's free bus system?
Park City's free bus system is a great asset to residents and visitors to Park City, Deer Valley and surrounding areas. The bus system provides easy and free transportation to and from ski areas, The Marc, Kimball Junction, and many other Park City attractions.
Real Estate located on open space and trails?
Hundreds of miles of marked hiking and mountain biking trails have helped establish Park City and Deer Valley as a year round recreational mecca. Park City has also preserved thousands of acres of open space in and around the community. Real Estate located on or near open space and complimented with easy access to the trail system is a hugely popular.
Property management for your real estate purchase?
Some owners want a completely hands off experience to managing their real estate. There are many different property management companies in Park City that offer a varying scope of services. Many are full service- these companies offer owners services including booking reservations, guest check in, maintenance, and housekeeping.
For second homeowners, there are companies that specialize in maintaining second homes, and offer weekly or bi weekly property checkups, maintenance, so on. The fees these companies charge also varies.
If you are willing to be more hands, VRBO, Air BnB and other 'By Owner' sites are also becoming popular options for owners of real estate and visitors.