It takes a specific kind of person to buy a home that needs extensive work. The average buyer is looking for simplicity. They want a home where they can simply get the keys and move in. It’s why turn-key properties are so highly sought after.

The phrase “turn-key” conjures the image of a pristine home with solid mechanicals, new appliances, and a beautiful aesthetic that requires no work on the part of the new owner.

But in a unique market like Park City, “turn-key” is more nuanced. Here’s what you need to know about turn-key homes in Park City.

The Definition of Turn-Key in Park City

We once had a colleague say that for a property to be truly turn-key, all you need to do is “show up with your Wheaties and toothbrush.” Everything else you can think of needing is in the home already, from pillowcases and towels to the little glass container of Q-Tips on the bathroom counter.

This definition of turn-key is a little different than what other markets consider to be turn-key. What other markets call “turn-key” we might consider “fully-furnished” instead.

Learn more about the ins and outs of real estate in Park City with these posts next:

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Types of Turn-Key Properties in Park City

The primary reason turn-key in Park City is different than in other markets is because of the types of homes we have available. With two world-class ski resorts in the vicinity, many of our homes for sale are vacation properties. Many of them are also located on resorts as part of a hotel.

For example, a condo hotel such as The St. Regis Deer Valley is turn-key. It must be ready for a guest at any moment. Here you’ll find everything you need, all the way down to operational equipment such as appliances and security features.

On the other hand, when a primary residence is listed for sale in Park City, you can safely assume it is not turn-key. The seller has their own furniture and belongings that will likely be coming with them to their next home. These sellers aren’t leaving behind a bottle of shampoo for the next owner.

Here in Park City, in addition to second homes and vacation homes, we have a strong investor market with a lot of owners using their properties to generate rental income. These types of properties are much more likely to be turn-key for the same reason that a condo hotel is turn-key: they must be ready for guests at any time.

If a property is under the care of a property manager, some of the accessories may belong to the management company and will be removed when the home is sold.

That’s why it is incredibly important to have a good grasp on the Seller Inventory List. More on that later.

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Turn-Key Vs. Fully Furnished

There’s a bit of a grey area between “fully-furnished” and “turn-key.” After all, what one person might consider a necessity, someone else may not even think of. But we can break it down like this:

• A fully-furnished home will have all its furniture and a limited selection of accoutrements.
• A turn-key home has it all. You truly only need to turn the key, and you’re set.

As such, you’ll find that most homes for sale or rent in Park City are not actual turn-key properties. They are, however, fully furnished.

What about staged homes? If you come across a home for sale that has been professionally staged, you can probably count on the home not meeting the Park City standard for turn-key. Staged homes likely won’t have silverware or pillow slips.

On the fence about buying a home in Park City? Wondering if renting is a better option? Read: Is it Better to Buy or Rent in Park City?

Buying a Turn-Key Property in Park City

Every buyer is different, just like every home is different. You may want a home you can furnish and outfit yourself. Or perhaps you just want everything to be ready for you the moment you step off the plane and make the short drive into Park City. Maybe you want a mix of the two. Either way, depending on your needs, a fully-furnished or turn-key property might be right for you.

When purchasing a turn-key home, it’s essential to ask questions about what is included and inspect the Seller Inventory List. This document will outline all the items included in the sale. For a turn-key property in Park City, these lists can be exhaustive.

If you’re in the market for a turn-key property, your best strategy is to work with a local real estate expert. While you may have an agent back home, they may not be aware of the nuance of Park City real estate and our concept of turn-key homes. A local expert knows what to expect, what to look for, which properties are truly turn-key, and how to negotiate and advocate for you.

It’s right in our name. Here at Chin Fleming Harris Luxury Resort Real Estate, we specialize in helping our clients buy and sell homes in Park City and Deer Valley’s most distinguished neighborhoods. If you’re thinking about a purchase or a sale, get in touch with us today by filling out the form below, or by calling/emailing us directly.