If you’re a frequent visitor of your favorite city, whether in the tropics or the mountains, you may think about how much easier life would be if you had your own vacation home. Around one in eight home buyers purchase a second home, according to the National Association of Realtors. This summer, if you’re considering getting a vacation home, consider the following things before you do.
Where is it?
Probably the most important question when you begin your search for a second paradise – where should it be? Getting a vacation home in a climate or destination opposite from your current home is often ideal, but is the transportation worth it if it’s far away? Getting a home a few hours from your current one makes it easy to visit frequently and spontaneously if only just for a weekend. If your looking to purchase a home in Park City, the Salt Lake City airport is conveniently only 45 minutes away, making it easy to make frequent trips.
Have you visited more than once?
Get to know the area you’re considering for a vacation home before putting down roots. Consider if the area will boom in the future or suffer economically. Additionally, is this a place you see you keep coming back to for years to come? Ideally, you’ve already visited the location frequently enough to know you’re ready to continue spending time there.
How often will you visit?
In a place like Park City, recreational activities and events happen year-round, making it an ideal vacation home that isn’t just seasonal If you’re only able to visit during the summer months or the winter months, choose your destination accordingly. Where will you be able to make the most of your time? Additionally, does your schedule and allow for enough time to make it worth it?
Planning for Emergencies
If you aren’t able to visit your vacation home regularly, make sure you build a relationship with a neighbor or someone who does. If a pipe bursts unexpectedly or someone breaks in, it’s helpful to have someone nearby to alert and support you. Secondly, when you’re away set the lights on automatic times and set up a security system to protect your home.
Calculate All the Costs
The actual purchase price is only part of what you spend. Be sure to consider possible HOA or condo fees, property taxes, insurance, utilities, and potential emergencies. Additionally, you’ll need to furnish your new home from basic furniture to kitchen supplies. If you’re in an area like Park City, you may also consider snowshoes, skis, snowboards, kayaks or other recreational equipment to get the most out of your visits.
Especially in Park City, vacation homes are far from unusual. With summer the most popular time of year for getting a second home, we’re here to help. To find your Park City paradise for all four seasons, reach out to a representative at https://shorelineparkcity.com/ today!