A Park City custom home, done right, is the best property most buyers ever own in this market. Done poorly, it becomes the single most expensive decision they make here. The difference is almost always settled before the first shovel hits the ground: the lot, the builder, the financing structure, and the advisor guiding those decisions.
The Park City Home Builder Program for Buyers is how we protect that decision. Derrik & Co. coordinates the full buyer-side process, from the first lot conversation through final walkthrough. You hire and pay the architect, builder, and lender directly. We take no referral fees from anyone on your build team, which means our only financial interest is the lot itself and our recommendations stay aligned with yours.
Our team has closed more than 50 vacant-land and lot transactions across Park City, Deer Valley, the Jordanelle corridor, Tuhaye, Promontory, Red Ledges, Midway, Heber Valley, and Kamas Valley, representing over $38 million in closed land volume. That history is the difference between a lot search driven by what is listed this week and a search driven by what actually builds well in your submarket.
To start a strategy call, contact Derrik Carlson at 435.200.5478 or Carlson@RealEstateInParkCity.com.
About this page
Written and maintained by Derrik Carlson, Resort Real Estate Advisor at Derrik & Co., the luxury division of KW Park City Keller Williams Real Estate. Derrik has nearly 20 years of Park City market experience and holds Certified Negotiation Expert, Resort and Second-Home Property Specialist, Luxury Homes Certification, and Certified Expert Listing Agent credentials. Direct line: 435.200.5478. Email: Carlson@RealEstateInParkCity.com.
At a Glance
How the Program Works
The program runs in seven stages. Each one has a specific output, so you always know what moves the project forward next and what that stage should produce.
1. Strategy call
We start with your budget, timeline, target submarket, and use case (primary residence, second home, long-term hold, short-term rental where allowed). You get a direct read on land pricing, realistic build costs, and permit timelines for the submarkets that fit. The call is at no charge and carries no obligation to move forward.
2. Land search
We pull active MLS land inventory, surface off-market lots through our network, and flag upcoming releases in the subdivisions that match your criteria. You receive a short list with notes on CC&Rs, HOA design review, utility access, grading cost implications, view corridors, and any build restrictions attached to each parcel. Live inventory is at Park City land and lots.
3. Due diligence
Once you are under contract, we coordinate title, survey, soil, and HOA design review. Common pressure points on Park City-area land include easements, drainage, wetland delineation on parcels near water, and slope-grading cost on hillside lots. We surface those items during your inspection period so they do not reappear later as change orders after construction has started.
4. Architect and builder introductions
Based on your design direction (mountain contemporary, traditional, timber, minimalist, transitional), we introduce architects and builders who have completed work in your submarket and are actively accepting new projects. You interview and hire them directly. We take no referral fees from any member of your build team. Our alignment is with you, not with the builder who gets the job.
5. Construction financing
If you are financing rather than paying cash, we introduce lenders who regularly close construction-to-permanent loans in Summit and Wasatch Counties. You negotiate rates, terms, and draw schedules with them directly. More detail below under Construction Financing.
6. Build phase
You work with your architect and builder through the build. We check in monthly, watch for change-order creep, and flag contractor issues or schedule slip the moment we see them. If the project runs into an HOA or county review problem, we step in to help resolve it rather than leave you to navigate it alone.
7. Close out and post-build
Final walkthrough, punch list review, and warranty documentation. We stay available for future service referrals: landscaping, maintenance, property management, and short-term rental setup where allowed. The relationship does not end at certificate of occupancy.
Ready to start a strategy call? Call 435.200.5478 or email Carlson@RealEstateInParkCity.com.
Who This Program Fits
Four buyer profiles represent the majority of the custom build conversations we take.
Out-of-market second-home buyers
Why it fits: You do not live in Park City yet. You need a team on the ground who can vet lots, architects, and builders in real time, then stand in for you when you cannot be here.
Trade-off: Travel is required for key design decisions. Expect two to four site visits during construction.
Buyers who already own land
Why it fits: You hold the lot. You need architect and builder introductions, plus a second set of eyes on design decisions with an eye on resale.
Trade-off: If the lot carries build challenges we flag (steep grade, poor solar orientation, drainage), you may already be past the point where a lot swap makes financial sense.
Buyers weighing new construction vs. custom
Why it fits: You are comparing a finished spec home or developer product against building from the ground up. We run the actual math with you, not a pitch.
Trade-off: Custom is almost always slower and more expensive per square foot than buying finished. Existing inventory can deliver in 30 to 60 days. Custom runs 14 to 24 months.
Investors evaluating spec builds
Why it fits: You are considering buying land, building, and either holding or selling on completion. We review the pro forma, the exit market, and the carrying cost exposure before you commit.
Trade-off: Summit County spec economics tightened with rate increases. Not every submarket supports a profitable spec build right now, and we will tell you when it does not.
Where We Have Closed Land
Track record on vacant land is the better indicator than total transaction count for this program. Most buyer agents in Park City close homes. Fewer have closed lots in the submarkets you are considering. Here is our land-specific activity.
- Jordanelle corridor, including Hideout: our deepest land track record, with more than 20 lot closings. Jordanelle lots.
- Tuhaye: nine-plus closed lot transactions inside the community. Tuhaye land for sale.
- Promontory: closed lot transactions across multiple neighborhoods within the gates. Promontory lots.
- Red Ledges: closed lots in a Heber Valley golf and ski community with active HOA design review. Red Ledges community overview.
- Midway: closed Wasatch County acreage and subdivision lots. Midway real estate.
- Kamas Valley and Summit Park: closed lots from small parcels to multi-acre rural holdings.
- Deer Mountain, Jeremy Ranch, Glenwild, and Charleston: single-transaction experience in each.
We have closed lots from 0.11 acres to 43.89 acres, from $72,000 to $3,100,000. That range matters more than the headline numbers. Cost drivers, HOA dynamics, permit timelines, and buyer expectations shift materially between a tight Old Town infill lot and a 40-acre Kamas parcel. The due diligence playbook is different for each, and the price of not knowing the difference shows up later as a surprise you cannot return.
Construction Financing
Custom home construction in Park City runs on a different loan product than a typical home purchase. If you are paying cash, skip this section. If you are financing any portion, here are the variables that matter most.
- Construction-to-permanent loans roll your land purchase, construction draws, and final mortgage into one transaction. This is the most common structure for Park City custom builds.
- Draw schedules release funds at milestone inspections (foundation, framing, lock-up, interior finish, final). You pay interest only on funds drawn during construction, not on the full approved amount.
- Typical down payment is 20% to 30% of total project cost, which includes land, hard build costs, soft costs, and a realistic contingency line.
- Future-value appraisals are usually required once plans are finalized. The lender underwrites against the expected finished value, not just the land value, which affects how much of the project you can finance.
- Rate-lock windows vary by product. Some lock at loan origination with a float-down option. Others lock again at certificate of occupancy. Knowing which you have matters in a shifting rate environment.
We introduce lenders who actively close construction loans in Summit and Wasatch Counties. You negotiate rates and terms directly with them. We accept no referral fees from any lender we introduce.
Trade-Offs to Understand Before You Commit
Custom building is not always the right move. Four honest points worth weighing before you commit.
Time. A Park City custom build typically runs 14 to 24 months from land close to certificate of occupancy, depending on site complexity and design approval timelines. If your ownership horizon is less than three years, buying finished inventory usually makes more financial sense than building.
Permitting. Summit and Wasatch Counties run different review timelines. Summit is generally slower on engineering and slope stability reviews. HOA-governed subdivisions, including Promontory, Red Ledges, Tuhaye, and Victory Ranch, add a design review committee step that commonly takes 60 to 120 days before you can pull county permits.
Cost drift. Soft costs, change orders, and site-specific surprises can add 10% to 20% over an initial budget. We build a contingency line into early planning conversations rather than let it surface after contracts are signed and it is too late to adjust scope.
Resale. Highly personalized custom homes narrow the future buyer pool. We flag design decisions that are likely to limit liquidity when you eventually sell, so you make those choices with the trade-off visible rather than hidden.
Questions on any of these? Call 435.200.5478.
What a Strategy Call Actually Produces
A strategy call is not a sales pitch. It is a working session. Most buyers leave a 45 to 60 minute call with the following in hand:
- A realistic total-project budget range for their target submarket, including land, hard costs, soft costs, and contingency
- A clear answer on whether building makes more sense than buying finished inventory given their timeline and holding period
- Lot criteria they had not considered (solar orientation, HOA design review friction, resale liquidity factors) that materially affect the outcome
- A short list of architects and builders worth interviewing for the specific project
- A direct read on submarkets to focus on and submarkets to pass on
If the call surfaces that a custom build is not the right move for you, we will say so. We have steered more than one buyer away from building and into finished inventory that fit them better. That is the program working as designed.
The call is at no charge. Direct: 435.200.5478.
Frequently Asked Questions
How much does it cost to build a custom home in Park City?
Total project cost depends on lot price, site conditions, square footage, and finish level. Hard costs (what the builder charges) are only part of the total. Soft costs (architectural, engineering, permits, HOA design review fees, utility tap fees) typically add 10% to 15%. Contingency should be budgeted at another 10%. We walk through a realistic total-project budget on the strategy call, before you commit to a lot.
How long does the full process take?
From contract on land to certificate of occupancy, Park City custom builds commonly run 14 to 24 months. Lot due diligence runs 30 to 60 days. Design and HOA design review runs three to six months. Permitting adds one to three months. Construction itself typically runs 12 to 18 months depending on size and complexity. Hillside sites, off-grid utility work, and snow-season framing can all extend the timeline.
Do you charge a fee for the builder program?
No. Buyer representation is compensated through standard cooperative real estate commission on the lot purchase. Our architect, builder, and lender introductions carry no referral fee to us from those parties. You pay them directly for their services.
Can you help if I already own the lot?
Yes. We regularly consult with buyers who bought land before engaging us. The work is narrower (no land search) but the architect, builder, financing, and project oversight support is the same. We also provide an honest lot review up front, including any build challenges or resale risks we see on the parcel.
Do you have preferred architects and builders?
We maintain working relationships with a roster of architects and builders active in Park City, Deer Valley, the Jordanelle corridor, Tuhaye, Promontory, Red Ledges, Midway, and Heber Valley. Who we introduce depends on your design direction, budget, submarket, and timeline. You hire the team you choose. We do not take referral fees.
What happens if my build runs over budget?
Cost drift happens on most custom projects. The right response is early detection, not late damage control. We review change orders as they come up, flag pattern drift (one builder consistently surfacing 5% to 10% extras), and recommend pulling value engineering conversations forward before commitments are locked. A 10% contingency line in the original budget absorbs most surprises if it is set aside before breaking ground.
Do you work outside of Park City proper?
Yes. Our closed land transactions cover Hideout, Kamas, Midway, Heber City, Charleston, Wanship, and Salt Lake City in addition to Park City. The Heber Valley and Jordanelle corridor sit inside Wasatch County with different permit timelines and HOA structures than Summit County. We run both sides regularly.
Can the program support a short-term rental or spec build strategy?
Yes, with caveats. Short-term rental eligibility varies by subdivision and HOA, and rules change. We confirm current eligibility on each specific lot during due diligence. For spec builds, we run the exit-market analysis (comparable finished homes, absorption rates, likely days on market at target price) alongside the construction pro forma. Some Park City submarkets support spec economics. Others do not.
Related Resources
- Park City new construction overview
- Park City vacant land and lots for sale
- Park City communities hub
- Park City real estate top hub
- Park City golf communities
- Promontory lots for sale
- Tuhaye land for sale
- Jordanelle lots for sale
- Midway real estate
- Red Ledges community
- About Derrik Carlson
- Contact Derrik & Co.
Start a Strategy Call
If a Park City custom build is on the table, the right next step is a structured conversation with someone who has closed more than 50 lots across the submarkets you are considering. You get the honest read, whether it favors the program or sends you back to finished inventory.
Direct: 435.200.5478
Email: Carlson@RealEstateInParkCity.com