7 Quick Tips for Buying in Park City
Choosing a Neighborhood
Determining which neighborhood you would like to live in can be the most important factor in determining happiness with your purchase. Purchasing the right home in the wrong location could lead to missed opportunity. When choosing a neighborhood ask if the property is priced in line with current market trends and will it still be in style in five years? Does the neighborhood meet your needs to be in the Park City School District and is the commute time to work, ski slopes, grocery stores, dining and entertainment acceptable?
Make a Wish List
Make an interior wish list which can include, but not limited to, architectural design, gourmet kitchen, master suites, media room, etc. In addition make a wish list that includes exterior features: views, access to ski resorts, access to main roads, travel time to work/airport, or if the home can have nightly rentals if you are looking for an investment property.
Know What Stays With a Home and What Goes
In general, items that are physically attached to a home or condo should stay when the home is sold. The Park City MLS has a section that outlines what is included and excluded in the home sell. There are times that there are items that are not included in the sell but you would like to have them included. Make sure we speak about what you would like to have included before writing an offer. Banks will not finance personal property and the transfer must take place on a separate bill of sale.
Should I Pay Cash When Buying a Home or Condo?
The best answer to this question is to ask yourself, “ is there is a better place to put my money?” It is best to discuss this decision with your financial advisor. Buying a home or condo with cash can make the process quicker and simpler but there are also no mortgage interest deductions. If you do decide that paying cash is the best option for you make sure you have the same protections as if you were working with a bank by ordering title insurance, appraisal, survey, home warranty, etc.
Must I Attend Closing in Park City?
No, we are able to close homes, condos, and land purchases remotely; however, the proper paperwork will still be required.
Does www.RealEstateInParkCity.com have all the homes on the MLS?
This site contains all the homes on the Park City MLS from every broker. However, if you happen to drive by a home with a for sale sign and can’t find it on this site simply send me the address and I’ll do the legwork for you.
Can I do Nightly Rentals in Park City?
Nightly Rentals are prohibited in some areas of Summit County. If this is your goal, I will make sure to only show you properties that allow nightly rentals. If you are looking to buy a home or condo that has the option for nightly rentals please take into consideration that the nightly rental value is built into the purchase price.