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2012-01-28 16:38:47
Utah Vacation Homes

What are You Really Looking for in a Utah Vacation Home?

professional manby Joel Carson

Park City Utah downtown

Park City,
Utah's

quaint
downtown

offers an
acclaimed
ambiance to
the entire
resort
community.

There are some great arguments for buying a vacation home – particularly in a soft real estate market when many sellers are highly motivated, prices are right, and interest rates are on the ground.

If you’re lucky enough to be in a position to buy a Park City Utah vacation home, let us help you find the perfect property to meet your present and future needs.

Why do you want a vacation home?

There are many reasons for wanting a second Utah home or a vacation home. You might want to:

  • buy a place to share quality time with family members and friends
  • invest in vacation property while the market is soft for a long-term future gain
  • start buying your retirement home in a place you thoroughly enjoy spending time
  • spend your hard earned money on a Utah home you can own instead of on expensive rentals or lodging
  • for use as a business retreat (there could be some fine tax advantages for this)

Regardless of your reason for buying, you’re looking in the right place. Utah features some of the most pristine property in the country at multiple world class ski resorts like Park City Mountain Resort, and Deer Valley Resort, and Canyons Resort. Opportunities for outdoor (and indoor) recreation here are phenomenal.

Is now the right time to buy? 

Assess your personal financial situation. Only you and your savvy financial advisers can determine if your budget will bear the burden of a second home. Financial reasoning will be tied directly to your intended use of the property. Here are a few points to consider:

  • reasons for wanting a Utah vacation home and its potential uses
  • your personal or business financial health
  • current property prices
  • potential appreciation and the likelihood of gaining a return on your investment
  • market conditions
  • current interest rates
  • potential tax or homebuyers’ incentives available
  • potential income from the home such rent
  • the amount of time the property will be in use

Appreciate property appreciation

Settle on a few specific areas in which you want to buy a Utah vacation home. We can help you look at the market history and predicted appreciation for one geographic area. It’s best to find a second home where your property is most likely to appreciate. It’s great if you choose to use the second home for a portion of the year and rent it out the rest of the year. Never count on rental income to pay the mortgage. Remember to factor in costs such as:

  • resort fees
  • association dues
  • maintenance and upkeep
  • property management
  • property taxes
  • insurance

Work with an experienced, licensed real estate professional

The best advice we can offer those considering the purchase of a Utah vacation home is to enlist a licensed real estate professional to help. Buyers’ agents are usually available at no cost to the buyer. Experienced agents have wisdom about complicated matters including tax issues, local ordinances, buyer/seller negotiations and so much more.

If you’re ready to buy your Utah vacation home, contact us at 801-673-3333 today! Feel free to browse through our Utah home listings online 24/7. Let us take you on a tour of some of Utah’s hottest recreation spots. You’re going to love it here!

 
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