How to Buy and Sell Private Residence Clubs
Posted by Goody on 05/24/08 in Uncategorized
How to Buy and Sell Private Residence Clubs
In recent years, an increasing number of investors have ventured into
the vacation property market. In order to placate the growing needs of
higher-end second home seekers, developers have devised new ways of
creating luxurious vacation offerings. Private residence clubs are the
products of these efforts. These first-class fractional ownership
properties represent the apex of lavish vacation accommodations.
What are Private Residence Clubs?
Situated in luxury resort areas, private residence clubs are
extravagant collections of vacation homes that are maintained by
five-star hospitality giants. These fractional properties are owned by
a handful of wealthy vacation seekers. Private residence clubs should
not be confused with timeshare properties. Comparing the two would be
like comparing a Bentley to a Ford Taurus. With timeshares, access is
limited to a couple of weeks out of the year. Private residence clubs
are located in opulent resort hotspots. These larger properties have
only a handful of fractional owners, unrivaled levels of service and a
host of high-end amenities. Access isn’t limited to a couple weeks, and
the level of comfort and pampering that comes with these properties is
off the charts.
How to Buy Private Residence Clubs
When you purchase a private residence club, you’ll be responsible for
the original purchase price and annual maintenance dues. Your annual
fees will cover insurance, weeks of yearly use, property taxes,
amenities and services. If you can imagine a service that will make
your vacation an extra-extravagant experience, it’ll be taken care of
by the resident club support staff. These staffs rival any crew you’ll
find at a five-star resort. Private residence clubs provide valets,
concierge services, airport shuttles, chefs, storage services, butlers
and in some cases, even a luxury automobile for you to use while on
vacation. Unlike buying a second home or vacation property, there will
be no upkeep hassles associated with your private residence club. All
you have to do is inform the staff of your specific wants and they will
prep the property for your arrival. When you buy a private residence
club, there will be limited financing options offered from the
developer, but most private residence club owners can afford to make
large down payments in cash.
How to Sell Private Residence Clubs
Selling your private residence club is simple, but it may also be a
challenge for a number of reasons. Demand is high for these luxury
vacation properties, and the supply is limited. This situation
stimulates appreciation. Because of the benefits of increased property
values, you may find it difficult to let go of your private residence
club. If you do choose to sell, you will have quite a large number of
interested buyers. Prime locations, unmatched access to posh amenities,
unbelievable services and hassle-free maintenance make private
residence clubs very hot commodities. Many residence club complexes
have waiting lists loaded with interested buyers. Selling your private
residence club won’t be a problem, but choosing to remove yourself from
the most upscale accommodations imaginable can be quite difficult.
If you’re looking for an amazing investment opportunity, there are
avenues that will produce higher returns than a private residence club
investment. However, if indulgence and gratification are high on your
list of vacation property priorities , private residence clubs will
offer unequaled satisfaction and enjoyment.
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Tags: airport shuttles, annual maintenance, butlers, concierge services, ford taurus, fractional ownership, home seekers, luxurious vacation, luxury automobile, luxury resort, private residence, residence clubs, resort areas, star hospitality, star resort, storage services, timeshare properties, vacation accommodations, vacation offerings, vacation property
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