Buying a Furnished Park City Home: What's Included and How It's Valued

"Turnkey furnished" is a marketing phrase, not a legal one. Utah's purchase contract includes a specific list of items by default, and furniture is not on it. In a market where a large share of ski condominiums and nightly rentals sell with their contents, the difference between what a buyer pictures and what the contract conveys is where deals go wrong. The phrase that actually means something is "furnished per inventory," because it points at a document.

What does the Utah contract include automatically?

The state-approved Real Estate Purchase Contract lists what conveys "if presently owned and in place." That list is narrower than most buyers assume.

Conveys by default	Does not convey unless written in
Window coverings: curtains, draperies, rods, blinds, shutters	Furniture of any kind
TV mounting brackets	The televisions themselves
Wall and ceiling mounted speakers	Hot tubs and spas
Affixed carpets	Area rugs
Bathroom fixtures and mirrors	Mounted art and decorative mirrors
Light fixtures, ceiling fans, water heaters and softeners	Mattresses, linens, kitchenware
Built-in appliances: ranges, ovens, cooktops, dishwashers, trash compactors	Free-standing appliances (see below)
Security systems, satellite dishes, solar panels	Washers, dryers, refrigerators, microwaves
Garage door openers and transmitters, fencing, landscaping	Ski and boot racks, outdoor furniture, grills, garage contents

The built-in versus free-standing line is what trips people up. An oven or dishwasher plumbed or wired into the house is a fixture and comes with it. A refrigerator you could roll out the door is not. The contract does provide for the rest: a separate section lets the parties check washers, dryers, refrigerators and microwaves and write in anything else, and it says those items convey "under separate bill of sale with warranties as to title." Title only. Nothing in that warranty promises the hot tub heater works or the mattresses are new.

How should furnishings be documented?

With an inventory attached to the contract, not with an adjective in the listing.

• Write the inventory room by room, with photographs dated at the time of contract.
• Attach it to the purchase contract as an addendum, alongside the Utah Association of REALTORS personal property transfer agreement and bill of sale.
• Name the exclusions in the contract's excluded-items section. Family pieces, art and anything the seller intends to take belong there by name.
• Check it at the walkthrough. Utah allows a final walkthrough no earlier than seven days before settlement, to confirm the items are as represented, and that right survives into possession even if you skip the walkthrough.

Why your lender and your CPA want opposite things

This is the part that catches buyers in a furnished purchase.

Your lender treats furniture included with a dollar value as a sales concession. Under Fannie Mae's rules, non-realty items such as furniture are deducted from the sales price, and the loan is sized on the lower of the reduced price or the appraised value. Put $150,000 of furniture in the contract and your financing is calculated as though you paid $150,000 less, which can mean more cash at closing.

Your CPA wants the opposite. If you will rent the home, furnishings are depreciable property with a five-year life, and the 100 percent bonus depreciation allowance was restored for qualifying property placed in service after January 19, 2025. An undocumented furniture value is a deduction you cannot take.

The usual resolution is a separate bill of sale with a supportable value, rather than a line item inside the purchase price. Decide this with both parties before you write the offer, not after the appraisal.

What the Tax Court says about allocating value

In a 2026 decision, the Tax Court rejected a seller's attempt to allocate $62,500 of a condominium sale to furnishings. There was no allocation in the sales contract, no separate bill of sale, no evidence the buyer paid for the items, and invoices that predated the furniture's presence in the home. The court found no reasonable basis to allocate anything.

What would have survived scrutiny: allocation language in the contract, a separate bill of sale, proof of payment, an independent valuation of the furnishings, and dated photographs. That list is the whole lesson.

Does Utah tax the furniture?

Generally not at closing. Utah exempts sales of tangible personal property by someone not regularly in the business of selling it, which covers a homeowner conveying furniture with a house. Vehicles that must be titled, such as a snowmobile or boat thrown into the deal, are a different analysis.

There is an ongoing tax most buyers never hear about. Household furnishings are exempt from Utah personal property tax, but that exemption does not apply to property in transient residential use, which includes homes in short-term rental pools. A documented furniture package in a Park City nightly rental can create a business personal property filing with the county assessor. Utah's de minimis threshold is $30,100 per taxpayer per county for 2026.

What does furnishing a Park City home actually cost?

Two very different scales, and buyers conflate them.

• A nightly-rental package from a local furnishing vendor runs roughly $12,000 to $15,000 for a one-bedroom and $30,000 to $38,000 for a five-bedroom, including design, sourcing, delivery and setup, over three to six weeks.
• A luxury home furnished properly runs on a different basis entirely. Designers commonly budget $100 to $150 per square foot, which puts a 6,000-square-foot Promontory or Empire Pass home at $600,000 to $900,000, with lead times approaching a year.

At the top of the market, "sold furnished" is a six- or seven-figure term in a one-line listing remark. That is why the inventory matters.

Used furniture also depreciates hard. Sellers typically recover well under half of original cost, which is worth remembering when a seller assigns a premium to the contents.

If the home is in a rental program

Ask what belongs to the program rather than to the seller. Managed Park City programs often specify or supply linens and housewares, charge an annual pro-rated linen replacement fee, and require owners to meet a standards list, with annual deep cleaning including carpet and dry cleaning. A buyer joining a program can face an upgrade bill on a home that was marketed as turnkey.

Utah's contract treats the short-term rental booking schedule and any property management agreement as seller disclosure items, so both should be in front of you during due diligence.

What to do before you write the offer

1. Ask for the inventory before you negotiate price. If there is not one, ask for one.
2. Walk the home with the inventory, or have your agent video it.
3. Decide with your lender whether furniture value goes in the contract or a separate bill of sale.
4. Ask your CPA what documentation they need if you will rent the home.
5. Name excluded items in writing. Assume anything unnamed is leaving.
6. Inspect the furnishings you are paying for. The contract warrants title, not condition.

Frequently asked questions

What does turnkey furnished mean in Utah?

Nothing legally. It is a marketing phrase. Utah's purchase contract conveys a specific list of items by default, and furniture is not among them, so anything beyond that list must be written into the contract and a bill of sale.

Does furniture convey with a Park City home sale?

It depends on the item. Window coverings, mounting brackets, mounted speakers, affixed carpets and built-in appliances such as ranges, ovens, cooktops and dishwashers convey by default. Furniture, televisions, hot tubs, area rugs and kitchenware do not unless written in. Free-standing appliances are their own category: washers, dryers, refrigerators and microwaves convey only if the parties check them in the contract.

Does including furniture affect my mortgage?

It can. Lenders treat non-realty items as sales concessions and deduct their stated value from the sales price when sizing the loan, which can increase the cash you need at closing. Many buyers use a separate bill of sale instead.

Can I depreciate furniture in a Park City rental?

Furnishings in a rental are generally five-year depreciable property, and the 100 percent bonus depreciation allowance was restored for qualifying property placed in service after January 19, 2025. You need documented value to claim it. Consult your CPA.

Is there sales tax on furniture included with a house in Utah?

Generally no. Utah exempts isolated or occasional sales by someone not in the business of selling that property. Titled vehicles such as snowmobiles or boats are treated differently.

Related: Buying Remotely From Out of State · Using a 1031 Exchange in Park City

Michael Diamond is an Associate Broker and Team Lead with Park City Brokers | Coldwell Banker Global Luxury, Utah license 9492175-AB00. Figures are from the sources cited as of September 2026 and should be confirmed for any specific property.