Utah Ranks High For Best Ski Resort Towns
For Real Estate Investment
Many urbanites trapped in sprawling metropolises covet the idea of owning that idyllic rustic cabin, surrounded by trees and snowcapped mountains at the foot of a towering ski resort. However, purchasing overpriced real estate in some backwoods ski area can end up being a costly proposition.
Generally speaking, real estate prices in resort areas are often much higher on a per square foot basis than comparable properties in the valleys below. Particularly when the additional costs of maintenance and heating comes into play. Regardless of the fear factor, purchasing that vacation home or investment property near a popular ski area can be a fiscally responsible investment for some – that is of course provided you do your research and exercise good judgment.
Variables Worth Considering:
Proximity to the nearest airport – the property should be easy to get to, both for you and for other vacationers who help drive the local economy.
Unemployment rate – more people with solid employment means more good tenants should you need to rent your cabin in the woods… and potential future buyers when the time comes to sell.
Median home price – all other things being fairly equal, the lower the price the better. Investors make their money when they buy low… and sell high.
Annual home price appreciation – rising home prices are generally better for investors, especially those looking to fix and flip properties for a profit.
Gross rent yield – the higher the gross rent yield is, the more likely you are to cover or exceed your costs of owning your vacation home in the woods.
2014 foreclosure rate – although foreclosure inventory is good for bargains, too much recent foreclosure activity could be bad for home values.
Understanding the awesomeness variables – Thanks to the help of a database algorithm created by the number crunching nerds over at ZRankings, created to help quantify the quality of our nations many ski resorts based on a plethora of variables. Two of Utah’s ski areas ranked in the top five destination locations from around the country; measuring 20 categories including vertical drop, snow quality, acreage, and the lift system … Huntsville and Sandy Utah were voted two of the top areas, worthy of your investigation.
While Southern Utah’s Brian Head didn’t make it onto this most recent list … it remains a popular destination for Washington County’s would-be skiers and snowboarders alike. As southern Utah’s population continues to swell at an exponential rate, investment in the area’s only ski resort seems like a no-brainer for most savvy investors. Should you be interested in learning more about any of the below properties, simply copy and paste the MLS number in the ‘Search’ box on my website.