Buying a Ski Resort in Ogden, Utah with Resale Value
When any property is purchased. it is prudent to consider its resale value.
Whether you are buying a vacant lot or an enormous resort in Ogden, Utah, always consider the possibility of selling the real estate for a profit in the future. If the Ogden, Utah property has a lot about it that appeals to you but would not appeal to many other buyers, try to find another property! Basic things which will affect not only your own enjoyment of the property, but will make it appealing to a future purchaser, are
- is the Ogden, Utah real estate you are trying to buy operating as a ski resort at the time you are buying it
- the existance of proper access to the property (is it landlocked or can it be accessed from a proper roadway),
- does the property have existing utility service
- are there existing recreational areas/facilities on the resort property (it can’t just be pretty, but must have the amenities of a resort)
- is the property convenient to other amenities, including a local town or shopping area
- does the entire tract sit on or have legal access to a public road
Resale value should be factored into a property’s overall worth
The financials on your Ogden, Utah ski resort property should give evidence of a successful going business, with appropriate evidence of the resort operating profitably as a going business. Proper evidence of the upkeep/maintenance/depreciation of all buildings and equipment should be furnished on the Ogden, Utah property. Detailed records about the IRS payments on the income earned should be made available. It is important that as the buyer, you ascsertain that you are purchasing a going business and not a business headache as you settle in to your new investment. Proof of the financial health should serve as evidence that at the time of your purchase, the business is in saleable shape. Before an offer to purchase is submitted, the lodge books should be reviewed by an independent accountant.
The location of a property is a major factor in deteermining its resale value.
Your Ogden, Utah ski lodge should be located near prime ski slopes. The lodge should have unimpeded use of and access to the slopes in order for you to be able to advertise that the lodge is open for business in order to enable you to attract paying customers. If the ski slopes are not part of the Ogden, Utah property that is included in the purchase of the ski lodge, make sure that documents granting you and your guests access to the land are in proper legal order, as verified by a local attorney familiar with land transfers in the area.
Location in a popular ski area known for its quality slopes and guest appeal dries resale value of a resort property
Be certain that your resort offers more than merely skiing, as catering to families encompasses more than just a ski slope. Be sure that you have employees who are experienced in the hospitality niche and can keep up a schedule of functions which will entertain and feed your Ogden, Utah guests.
The more guest appeal a property has, the more valuable it becomes at resale time
Be sure that you are able to maintain and enhance the reputation of your Ogden, Utah ski lodge so that when you are ready to sell the lodge, you will be able to attract buyers based on the lodge’s record as being an enjoyable place to visit and ski. The more attractions and programs you have for your guests, the better your reputation will be. Having an exemplary kitchen and a loyal local following of dining customers can work to your advdantage when your local diners are able to recommend your lodge to their out-of-town visitors based on your food and ambience; that sort of thing will enhance your resale value as well.
When buying a ski resort property, consider not only what you see in it, but what a potential buyer will see and want to pay for when the time comes to sell
Buying a quaint Ogden, Utah ski resort is a great experience, but you have to be practical when viewing your investment. Regardless of how picturesque the resort and lodge are, the skiing and activities have to be the primary draw for guests. If that satisfaction level remains high, your Ogden, Utah ski property should maintain its popularity and have attractive resale value.
Deciding to buy real estate near a favorite past time is a fun endeavor. If your passion is winter sports, Ogden Valley has it all with our ski resorts; Snowbasin, Powder Mountain and Wolf Mountain. It is a friendly, affordable, and fun place to live. Contact Darin Michl to help you find the best place for your lifetime vacation getaway or permanent residency.
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