Imagine watching the sun rise over the Utah Rocky Mountains, taking in the Sundance Film Festival in mid-January, hiking or biking up a mountain and reaching the top. These are just a few of the reasons Park City Real Estate is the ideal place for a second home. The possibilities are endless and are available year-round. In fact, second home purchases accounted for approximately 36% of residential property sales in the United States in 2006, according to the National Association of Realtors.
If you are looking for one of the second home market’s best kept secrets, you should check out Park City Real Estate. Park City Market offers all price ranges for every shopper. According to NeighborhoodScout for Heber Utah Mountain and Lakes Resorts, outside Park City remains a bargain in an emerging market. From Salt Lake International Airport, it’s just a 45-minute drive and you’re in your home away from home.
If you’re wondering if you can afford a second home, there are three things to consider; location, finances and clearly identify what type of property will be best for you. Considering that there are condos, houses, fractional ownership, and other real estate offerings.
Location is the first rule of smart real estate investing and Park City Real estate is no exception. There are many great areas, such as Old Town, Deer Valley, or the Canyons, each offering year-round charm and activities. Each distinctive area of Park City has incredible views, great restaurants to choose from, and all kinds of shops.
Finances are an important factor when deciding whether you can afford a second home and how much you can spend. In my experience, there are a few ideas to make that second home more realistic. Paying the mortgage yourself is one way to look at it and the other way is to offset the cost of ownership by offering your unit for rent when you are not using your second home. I personally own several properties in Park City, and have found that for me, this provides a way to not only enjoy my investments, but also to capitalize on cash flow opportunities through the rental market. Historically, the Park City rental market has been very strong, and with the right property management company, the investment may pay for itself or contribute significantly to your monthly mortgage payment. Also, there could be tax advantages to making a second home investment. My recommendation is to consult a tax planning professional to learn more about the potential tax advantages of second home ownership.
Finally, it is essential to determine exactly what type of property will be the most suitable for you. If you’re looking for a true home to accommodate guests or even your family, there are many fabulous subdivisions with their own unique architecture, style, and price ranges. Some people prefer to own a condo so they can enjoy their property without labor or maintenance. There are so many condominium projects within the Park City real estate market; you really have to narrow it down to the square footage you need or even the year it was built. As a real estate agent, I can help you evaluate some of the advantages or disadvantages of different types of properties. If you’re thinking about fractional ownership, there are some exciting new projects that are making the market sizzle.
With Park City Real Estate as your home away from home, you can’t go wrong. You can enjoy this perfect getaway spot while maximizing the benefits of second home ownership. There are many new developments in the area as well as existing properties that make Park City the gem that it is.
Come to Park City and let me show you why you should choose Park City as your home away from home. You won’t be disappointed.
Call Granda Metz at (801) 571-3825 or email [email protected] You can learn more about Park City Real Estate at http://www.grandametz.com
Enjoy!
grandmother
