When you are in the position to move up to a higher level of living to the luxury end of the housing market, it’s important to know the options out there for you. So, when looking for your dream home, don’t limit your search to detached houses only–consider a luxury condo.
Luxury homes and high-end condominiums are important considerations in most real estate markets, and in Park City especially. High-end condominiums can be just as expensive as detached homes, which at first glance may not make sense.
Let’s review the pros when purchasing a luxury condominium and you’ll be better able to make an educated decision before buying your dream home.
Luxury Condominium Considerations
It’s highly unlikely that you’d be responsible for any upkeep on the exterior of a condo unit, which is one reason people are willing to spend money on this type of property. Living in a condo allows you to only be responsible for the interior of the home only. This is wonderful for those looking for a second vacation home or a rental property.
Furthermore, a luxury condo is likely to be much more centrally located. The reason is that most luxury condos tend to be built in centralized areas where detached homes tend to be scarce. If you like living near the action, then this will likely be the best option for you.
Luxury condos in Park City often have spectacular mountain views. They are located in upscale neighborhoods like Deer Valley, Old Town, or The Canyons Village. The Wasatch mountain range serves as the backdrop to spectacular sunrises and magical night skies.
It is not just about large and luxurious spaces or secluded locations that make luxury real estate special; it is about projecting a lifestyle. Although location plays a role, it is the amenities that come with the property that make the experience more enriching.
Luxury Condominium Amenities
Many high-end condos offer a host of luxuries that should be considered when making a decision between a detached home or a condo. Some luxury condos even provide residents with complimentary valet parking, making getting in and out of your unit a breeze.
Imagine a unique building, convenient shopping and dining options, privacy and security, as well as a view unlike any other. Many condos in Park City are ski-in/ski-out, making recreation easy and exciting.
The HOA also maintains amenities such as hot tubs, pools, tennis courts, business centers, and landscaping–making condo living worry-free. Many condos also provide exciting amenities such as fitness centers, rooftop gardens, and concierge services.
If you plan on renting your condo out while you are not there, think about the services and amenities renters prefer. Many, if not most renters who come to Park City are looking for an escape from the city and want to immerse themselves in recreational activities and relaxation. A luxury condo fits those needs without the owner having to worry about maintenance and upkeep.
Why a Park City Condo Makes Sense
Park City is different from other luxury markets because of Utah’s breathtaking scenery, year-round activities, proximity to skiing, and easy access from Salt Lake International Airport. The demand for properties here remains strong.
Property values have increased year after year and the projection is for that trend to continue. The initial investment may seem high, but the demand and appreciation of these properties increase year after year with no end in sight
If you’re looking to generate rental income with a condo, make sure you do an investment analysis to make sure the rental income offsets your costs. You’ll need to consult a professional tax advisor for more information.
One noteworthy development is The Residences at Montage Deer Valley. Located only 5 minutes from downtown, Montage offers exciting and exquisite ski-in/ski-out residences. The centerpiece of the community is the 35,000 square foot Spa Montage where health, beauty, and renewal await.
Condominiums with private entrances are located on the top six floors of the resort. Skiing, swimming, hiking, fine dining, and the spa are at your fingertips.
If you or your loved ones need any information about The Residences at Montage Deer Valley or any other luxury real estate in Park City, visit Jensen and Company today. Locally rooted in the community, Jensen and Company is a dedicated resource to help you make the most informed real estate decision possible.