It’s no secret that Utah is home to some of the most beautiful landscapes in the country. From snow-covered peaks and world-class ski resorts to sunny desert escapes and serene mountain lakes, there’s something for everyone just a short drive from Salt Lake City. That’s why the idea of owning a vacation home in or around the SLC area is so appealing. But is it the right move for you?
Let’s take a look at the benefits and potential drawbacks of buying a vacation home near Salt Lake City.
The Pros
Built-in Getaway
Owning a vacation home means you always have a place to escape. Whether you’re sneaking away for a long weekend in Park City, fishing in the Uintas, or taking advantage of the “greatest snow on earth,” your retreat is ready when you are.
Rental Potential
Many second-home owners in Utah offset their mortgage by listing their property as a short-term rental. Areas such as Park City, Heber, and Big Cottonwood Canyon are popular with tourists, especially during the ski season. Depending on the location and timing, your vacation home could pay for itself, or at least help cover costs.
Equity and Appreciation
Real estate near SLC continues to appreciate steadily, especially in desirable vacation areas. A second home can be a long-term investment, building equity over time while offering lifestyle benefits today.
Retirement Planning
A vacation home can become your future full-time home. Some buyers choose a second property with retirement in mind, purchasing now while prices are more manageable and transitioning to full-time living down the road.
Family Traditions
There’s something special about creating a home base for holidays, reunions, and long summer weekends. Owning a vacation property provides your family with a consistent, comfortable place to make memories, without the need to book hotel rooms or coordinate rentals.
The Cons
Two Homes, Twice the Responsibility
A second home still comes with maintenance needs, utility bills, and property taxes. Snow removal, roof repairs, and general upkeep don’t disappear just because it’s a vacation spot. If you live in Salt Lake City and your vacation home is just an hour away, it might be manageable, but farther afield, you may need to hire a local property manager.
Upfront and Ongoing Costs
Vacation homes typically require a larger down payment, often a minimum of 20%, and come with higher interest rates than primary residences. Even if you plan to rent it out, you’ll want to ensure you can comfortably cover the mortgage and expenses during slower rental periods.
Short-Term Rental Restrictions
Many cities and resort towns have cracked down on short-term rentals. Make sure you’re aware of local ordinances, HOA rules, and any licensing requirements before banking on rental income.
Market Volatility
Second homes in vacation areas can be more sensitive to economic shifts. If the tourism industry takes a hit or housing demand drops in your chosen location, the value of your investment could take longer to rebound than a primary residence in a high-demand urban area.
You Might Feel Obligated
This one’s more personal. When you own a vacation home, you might feel pressured to “get your money’s worth” by going there for every trip. That’s great if you love the location, but some owners end up feeling limited or stuck, especially if other destinations start calling your name.
Is It Right for You?
Owning a vacation home near Salt Lake City can be a smart financial move, a lifestyle upgrade, or both—but it depends on your goals and your ability to manage the commitment. If you travel frequently to a specific destination, can comfortably afford the upfront costs, and have a plan for maintenance and management, a second home might be worth it.
On the flip side, if your schedule is unpredictable or your budget is already stretched, a vacation home might add more stress than joy.
Whether you’re considering a cozy condo in Park City, a lakeside cabin in Heber, or a mountain hideaway in Brighton, it’s helpful to discuss your goals with someone who knows the market.
Salt Lake City Real Estate: Your Partner in 2025
If you’re considering buying or selling a home in or around Salt Lake City, we’re here to help! Whether selling a home to buy another, buying your first home, or relocating, we provide expert advice and service to help you navigate the local real estate market. Kevin Coyle of SLC Homes has the resources and expertise to assist you every step of the way. Contact us today to start your journey toward accomplishing your real estate goals!
