Let Us Help You Build A Home In Park City
Park City, located 32 miles northeast of Salt Lake City, Utah, is best known as the site of the annual Sundance Film Festival as well as its two world-class ski areas, Park City and Deer Valley, the site of the ski events at the 2002 Olympic Games. While these winter events may get more world attention, this part of the country is delightful year-round. The region boasts a number of excellent golf courses and miles of hiking and biking trails as well as a vibrant arts community. The views in this town, nestled within the Wasatch, are spectacular, and Park City has retained its friendly, small-town atmosphere despite its world attention. In short, Park City is a great place to build a home.
The state of the new construction market in the Park City/Deer Valley area
If you're considering building a custom home in Park City, here are a few things you need to know.
The base cost of a newly-constructed home in Park City/Deer Valley is around $300 per square foot. This does not include the land or any custom finishes you may choose over and above the standard builder's finishes. If you choose a lot of high-quality finishes and add extra features like a sauna, a three-car garage and a terraced deck, your cost per square foot can average upwards of $700 per square foot. If you choose to build outside a development, you'll also have costs associated with accessing utilities, such as tying your home into the electric grid or installing solar panels, digging a well and having a septic system installed.
New construction in Park City is booming. There were more than 15,000 new home starts in Utah in 2021, many of them in the Park City/Deer Valley area. The average custom home in Park City takes between 9 and 12 months to complete. The exact time depends on the size of your home, your location, what's necessary to prepare the site for construction, the availability of the materials you choose, and the amount of finishing required.
Home prices in Park City have increased dramatically in the past year and are poised to continue this trend into 2022. The median value of a home in Park City is currently $1.44 million, up 36.2% from this time last year, according to Zillow.com. As recently as 2017, that $1.44 million home was valued at $875,000. Real estate in Park City continues to be a good investment.
The availability of construction materials continues to be an issue for all builders, due to pandemic era shortages and labor challenges. The strong relationships we've built with vendors in our more than 15 years in the custom home business help us get access to some hard-to-find items, but it's difficult for any of us to know what's going to be tomorrow's hard-to-get item. If we find that we can't source a particular light fixture, tile design or faucet that you had your heart set on, our team will work hard to find something comparable that you'll be equally happy with. Of course, we'll communicate with you constantly through the building process.
Mortgage interest rates are likely to increase in 2022, as the Federal Reserve Bank has indicated that it will raise the Prime Interest rate in the near future in an effort to curb inflation. This will make the cost of a new construction loan more expensive.
About Guardian Homes
Guardian Homes is one of the premier luxury custom home builders in Idaho, Montana, Utah, Washington, and Wyoming. Founded in 2007, the Guardian team will work with you every step of the way to build a truly custom home for your family to enjoy for years to come.
Whether you are looking for a sprawling farmhouse in the woods or an elegant luxury manor house, we are known for building exceptionally-crafted and well-thought-out luxury homes. You can trust us to communicate well throughout the process and keep you updated on the status of all aspects of your build. We don't like surprises, and we're sure you don't either.
To learn more about building your dream home in Park City or Deer Valley, Utah, visit Guardian Homes online or call us at (insert contact info). We've been people like you create the home of their dreams since 2007.
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We are dedicated to giving you the best service possible. There is a reason why we have a reputation for being the best custom home builders, and soon enough you'll know why. Building quality homes is our specialty, and we look forward to working with you!