How To Invest In Luxury Real Estate In Park City

Written by Posted On Friday, 12 June 2015 06:14

Great homes is one of the things Park City is known for but now that you have decided to invest in luxury real estate in Park City lets define what earns a home luxury status.

Luxe or Faux

First of all, just because a house is grand on the outside does not mean it meets the standard of luxury. Luxury exists in cottages and cabins so this is one of the times when size does not matter. The truth is to some extent luxury is in the eyes of the beholder. There are certain standards which basically boil down to, Is it luxe or faux. The difference between them is a fine line but it is definitely an beautiful blend of location, exterior and interior design; surfaces; upgrades that make sense; landscaping; with access to area-appropriate views and entertainment. It’s like this: maybe it is the difference between cherry veneers and cherry laminate throughout but there is an exquisite garden and a tennis court. A small sacrifice to the surfaces for the master gardener and tennis pro couple.

It Is An Investment

One of the biggest mistakes I see new investors making is not treating a home purchase as an investment vehicle. Investing in Park City real estate is a smart move simply because Park City is luxury. The amenities Park City offers helps increase the luxe factor of any home but the actual edifice needs to be investment-worthy. Before making an offer on a home, I recommend my buyers thoroughly investigate the property as well as the comps on the market. Sometimes similarly priced homes have dramatic differences and may mean the difference between a good investment and a turkey.

A Slice Of Pie Or The Whole Plate

Now that your heart is set on owning a piece of Park City real estate you next decision is if you want to be the sole owner or if you are interested in a group of investors. For a luxury community, Park City is affordable for individuals with a median home price in the $350,000 range. However, if you are not interested in living full-time in Park City or if you are looking for a hard asset perhaps an investment group would be a better option. Thanks to social media group investing via Crowdfunding has become a popular option. There are REITs and peer-lending options as well. Depending on your personal goals there is a way for you to finance your Park City real estate investment.

Jensen and Company is ready to help you find the perfect piece of luxury real estate in Park City. Give us a call today 435-901-8333.

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Brad Jensen

Brad Jensen has been in the Real Estate market since 1988. He is one of the most respected agents in the Park City, Utah area and would love to assist you in selling your home or buying a new home. Jensen and Company is here to help make your life easier as you follow your goals and dreams. Our blog has lots of great information and education to help you learn more about the Park City Real Estate market. Please contact us if you have any questions, we would be happy to assist you.

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