Guide to Buying a Park City Vacation Home or Rental Property

According to NAHB estimates, there are over 7.15 million people who own a vacation home. If you’re considering purchasing a vacation home for your family or as a vacation rental, Park City is an incredible location! Park City vacation homes are in high demand, and they can be used as a luxurious getaway property or as a profitable vacation rental.

Read on to learn more about Park City vacation rentals & purchases:

Why Park City Utah is a Great Place for a Vacation Home

Park City is an exceptional location to own a vacation home for a multitude of reasons. Whether you’re looking for a second home with the best amenities, like private hot tubs, a concierge team, luxurious interior and exterior finishes, fitness and wellness centers, and access to ski lifts--or if you’re looking for a property that will attract short-term guests, there are so many options.

Park City is a perfect place for a ski vacation or a summer trip to the mountains. Here are just a few more reasons why people love the area:

  • Located in the Unita and Wasatch mountain ranges, there are stunning mountain views from every part of Park City
  • Home to two award-winning world class ski resorts; Deer Valley Resort and Park City Mountain
  • Home of multiple award-winning golf courses and golf resorts, including Pete Dye Canyon Golf Course and Painted Valley
  • Wide variety of property types, including ski-in/ski-out condos and townhomes, luxury condos, resort residences, and luxury single-family homes
  • Year-round outdoor activities, like mountain biking, hiking,
  • Shopping, dining, events, concerts, family-friendly programs, community activities
  • Proximity to the yearly Sundance Film Festival
  • Approximately 45 minutes from Salt Lake City

Park City Utah sunset mountain view

What to Know About Buying a Vacation Home in Park City

Although there are many reasons to buy a vacation home in Park City, it’s a big decision that should only be made with careful consideration and a full understanding of the facts. As you consider purchasing a Park City vacation home, here are four important things to know and decide:

Choosing the Right Financing

Buying a Park City vacation property is a significant investment, so make sure to evaluate your own finances and your financing options before starting the process. Financing a vacation home may require different financials than a primary home or a conventional loan. For example, you may be required to pay a larger amount of money for the down payment and interest rates may be higher than a conventional loan. In addition, your new property may have condo fees and/or HOA fees to consider.  Read More...

Park City Property Tax Rates

If you own two homes, you’ll pay two sets of property taxes. However, tax rates for secondary homeowners are a bit different than for primary homes. For instance, property taxes may not be deductible on secondary residences, but this depends on a few factors like location, max deductible limit, and how much you’ve already paid.  Read More...

Managing & Renting Your Vacation Home

Having a second home is an ideal solution when you need a family vacation, whether it’s for a short-term or mid-term stay. However, typically vacation homeowners don’t live in this property full-time--so what should you do with the property when you’re not there? There are generally two choices:

  • Leave the property empty: This means the property is always available for you and requires minimal maintenance and upkeep.
  • Rent the property for short-term visitors: This can generate some extra income to offset the vacation home costs, but your taxes will increase if the property is rented for more than 2 weeks in a year.

With either option, you need a property manager to take care of the residence when you aren’t in the area. Luckily, there are plenty of options in Park City, so you can find a property management company that fits your needs. For instance, there are large companies like Park City Vacation Rentals and Abode, to smaller companies like Ghost Host.

Evaluate Your Personal Preferences

In order to choose a Park City home that best fits your family, it’s crucial to clarify your specific wants and needs. This should include:   Read More...

Popular Areas for Park City Vacation Homes

Since there are so many different types of attractions in this area, there are multiple areas where people tend to look for Park City Utah vacation homes; near private golf clubs or resorts, in ski resorts, and near Main Street or Old Town Park City.

Park City Golf Communities

There are a large number of golf courses in Park City, and many of them are the center of a tight-knit golf community. If you want to live within walking distance to some of the best golf courses in the country, have a variety of local amenities and community-centered activities and events, check out the following golf communities:

Glenwild golf course Park City

Park City Ski Properties

Park City is home to three incredible ski resorts:

Each resort includes a variety of ski homes and condos for sale with a wide range of prices and locations. For more in-depth information on the homes, condos, and townhomes available in each location, read our detailed guides: 

Downtown or Old Town Park City

Downtown Park City is truly a little ski-town oasis! With great boutique shopping, and delicious bars and restaurants, it’s the perfect vacation getaway spot. The center of Old Town Park City is Main Street, which is located directly between the Park City Resort base and the base of Deer Valley at Snow Park Lodge.

This is a great location for Park City vacation rentals because it provides easy access to almost everything; skiing, golfing, outdoor recreation, shopping, dining, spas, and nightlife.

Main Street Park City Utah

Is a Park City Vacation Home Right for You? (Park City Vacation Rental Options)

Finally, once you have all the information you need, it’s important to ask yourself whether or not buying a vacation home is actually the right decision for you. This answer truly depends on your situation, and you’ll feel confident in your decision if you talk to one of our realtors and get all the information you need about the available properties and the costs. Reach out to us today to start getting your questions answered.

If you aren’t sure if you have the financial means to own a second property or if you aren’t interested in owning a vacation rental in Park City, there are other options. For instance, there are plenty of vacation rentals in Park City and Deer Valley available short-term and mid-term. These can range from luxury hotel rooms to condos and large, luxury townhomes.

Here are just a few of the most sought-after vacation rentals in Park City:

At Canyons Village, a community-oriented area of Park City Mountain Resort, there are more than 20 different developments to choose from. It includes a few of the most highly rated Park City vacation rentals, as well as some of the most affordable, like:

  • Pendry Residences: One of the newest hotels in the area, Pendry provides short-term and permanent residences with equal levels of service and luxury.
  • Waldorf Astoria: With 175 spacious guestrooms and residences, these condos are fully furnished and serviced. 
  • Sundial Lodge: Sundial condos are just one to two bedrooms from 440-1,000 square feet, with a variety of incredible amenities and services. This provides a more affordable way for visitors and vacation property owners to soak in the Park City culture.
  • YotelPAD Park City: These condominiums range from 338-650 square feet and provide an affordable option for Park City lovers--without sacrificing the luxury feel.

The residences in Empire Pass, one of the base areas of Deer Valley, include:

  • Montage at Empire Pass: One of the most high-end developments in all of Park City, with two to four-bedroom residences between 1,800-5,400 square feet.
  • One Empire Pass: A newly developed luxury hotel with two to four-bedroom private residences and top notch amenities and common areas.
  • Grand Lodge Condos: Another luxury hotel with temporary and permanent residences with anywhere from two to six bedrooms. Residents have access to the lounge, outdoor spa, exclusive slope-side hot tub, and exquisite finishings. 

Grand Lodge Park City

An exclusive, gated community within Deer Valley is Deer Crest, which includes the renowned St. Regis Deer Valley hotel and an opportunity to join Deer Crest Club. 

Deer Crest Club

More Park City Real Estate Options

As you consider the costs and benefits of Park City vacation home rentals, make sure you have an expert to help you make the best decisions and get the best value from your purchase. The Park City area has an incredible amount of niche markets and neighborhoods within the community, so it's important to find a longtime local and experienced agent to talk you through the intricacies of owning a vacation property or vacation rental. Just fill out the form below and start getting the most important answers to your questions!

Plus, read more about Park City & learn about specific neighborhoods in our guides: 

Contact a Park City Realtor

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