I’ve been working with several buyers this summer and I can tell you something they all want—contemporary interiors. An open floor plan (which I wrote about here) is a must. A contemporary exterior is a plus but not as essential as a contemporary interior.
The problem in Park City is that there is little new construction except at Promontory and the Jordanelle. This partially explains why both of these neighborhoods have been on fire. It also explains the recent surge in lot prices and sales.
As a builder friend recently told me, “There is no lot factory in Park City.” So true. The very best lots cost upwards of $1M and they are scarce.
I was on a property tour last week and snapped these photos of a brand new home in Park City’s Old Town. This home is listed for over $1,000/square foot! It has many of the components that buyers are looking for right now:
• White cabinets
• Neutral counter-tops. These are marble. Other popular materials are composites and quartz.
• Silver streamlined handles
• Contemporary plumbing fixtures
• Contemporary light fixtures
• Metal horizontal handrails
• Open cabinets
• Wide planked, oak floors
What you can’t see from these photos is this home’s disappearing, sliding glass doors that create a seamless indoor-outdoor space. In Park City, we want to be outdoors anytime the weather allows it.
The home pictured below, was recently listed in Jeremy Ranch. It features the very popular grey interior palette and a standalone white tub in the master bath.
What the Demand for Contemporary Means
This demand creates many challenges for buyers and their agents, because these homes generally don’t exist! And the homes that do exist are very expensive ($500-$1,000/sf, depending on size and location).
So, here is my professional advice. If you are thinking of selling your home in the next 1-2 years, why not do a few upgrades now and enjoy them? Also consider home staging if you are ready to sell. The home pictured below was professionally staged by Dressed Design. The furnishings help make the home look more stylish and updated.
How long will these new palettes and design trends last? It seems like the styles change about every 7 years. What are your thoughts?