How much does it cost to own a vacation home?

Owning a vacation home at Bear Lake isn’t quite the same as owning a primary residence—there are a lot of similarities, but there are also unique costs and responsibilities that come with maintaining a home that isn’t occupied full-time. If you're considering buying, here’s what you should plan for:

Property Taxes & Insurance
Vacation homes are often taxed differently than primary residences, and insurance may be higher due to seasonal vacancy, rental use, or the home’s location near water. It’s important to understand the differences, especially between the Utah and Idaho sides of the lake. If you have specific questions, as always, reach out!

Seasonal & Weather-Related Upkeep
Bear Lake experiences all four seasons, which means your home needs to be ready for snow, ice, wind, and summer sun. Winterizing your property, ensuring pipes don’t freeze, and handling snow removal are all part of vacation home ownership in Utah or Idaho!

HOA  Fees
Similar to a primary residence, some vacation homes are in private communities with HOA fees that cover road maintenance, snow plowing, and shared amenities like pools, clubhouses, or beach access. This is prominent at Bear Lake, so keep this in mind when shopping for homes in most communities.

Utilities
Of course when you’re at the property, you’ll have to pay for utilities like water, electricity, and internet. But even when you’re not there, some things, like heating, may need to stay on  to prevent damage.

Security & Property Management
If you’re away for long periods, you may want a security system or property management service to check on the home and handle maintenance issues.

Short-Term Rental Considerations
Many vacation homeowners choose to rent out their property, which adds costs like cleaning services, rental management fees, and potential wear and tear. If renting your property is something you’re considering, make sure you understand the costs associated with starting that process. Plus, local regulations on short-term rentals vary, so it’s important to know the rules before listing your home.

Furnishings
Unlike a primary home where you can furnish slowly, vacation homes are often expected to be fully stocked from day one, especially if you plan to rent. That includes kitchen essentials, linens, outdoor furniture, and recreational gear.

Owning a vacation home at Bear Lake can be an incredible investment, but it does come with unique costs to consider. If you're thinking about buying, I can help you find a home that fits your goals—whether it’s for personal use, rental income, or a mix of both!