Tag: Caribbean

Luxury Condominiums Deliver Vacationers Value And Convenience

World travelers understand that the Caribbean, Central America, South America, and Asia are full of vacation hotspots where one can go and enjoy the surroundings. And when vacationing, travelers often have access to luxurious amenities such as swimming pools, spas, fine dining, and Las Vegas style gaming. But when it comes to buying a property in one of these hotspots, luxury condominiums are usually the best way to go.

If you are a traveler that is accustomed to experiencing some of the world’s most luxurious hotspots, a time might come when you want to invest in a second home in one of these places where you can entertain yourself and family members during the year. For U.S. residents, Central America and the Caribbean are perfect places to invest because they are so close to the U.S. In fact, you can get to these places from just about anywhere in the U.S. in under 4 hours.

The biggest question for travelers is what is the best approach to buying into your dream vacation home. In general, there are really only 3 choices; a residential property, a timeshare, or luxury condos. Having a regular home has certain advantages, such as more space and privacy, but it has its drawbacks as well.

When you own a home in a foreign country, you need to think about property taxes, security, maintenance and upkeep. If this is a house you only plan on visiting 4-6 times a year, you will have about 35-40 weeks out of the year when it will sit vacant. During this time, the property needs to be kept clean, and if the locals get word that there is no one living there regularly, it could become a prime target for burglary.

Timeshares are okay, but with a timeshare, you don’t really own the property. You basically share time in the same luxury condominium with several others throughout the year. Typically, you can buy in for anywhere from 1 week to 6 weeks of the year for use. There is also some flexibility with timeshares in that you can do exchanges sometimes and go to other vacation spots.

This works fine for some, but timeshares have one big drawback; they are nearly impossible to sell. Check any classified ad website at any given time and you’ll almost certainly find pages of ads from timeshare owners looking to unload them. Suffice it to say, this is not a sound investment if you are looking for an asset with which you can build revenue.

Luxury condos offer the best of all worlds. With luxury condominiums, you own the property outright. It belongs totally to you. In addition, these luxury resort properties offer the very best amenities available in your vacation destination. And with security maintained 24/7/365 by the association, there is never any need to worry about upkeep or having your condo broken into.

For vacationers seeking the best value and most convenient option for investing in a second home, you really cannot go wrong with luxury condominiums. They are fast becoming the savvy traveler’s choice for a guaranteed luxury vacation.

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Condominium Vs. Condominium Hotels For Vacaton Home Ownership

Condominium hotels, also called condotels, are a comparatively new conception in vacation home ownership.

Quickly derive popularity, numerous condo hotels are now beingness built in Florida, Las Vegas, Chicago, Toronto, the Caribbean and many other locales around the U.S. and the world. To help instance the unique qualities of condominium hotels, here’s a look at how they compare with traditional condominium.

AMENITIES

Condominium – The average condominium has a community pool and some common areas.

Condo Hotels – A condominium hotel has many of the amenities you would breakthrough at a quaternity- or quint-star hotel. In addition to a pool (or pools), there is in all likeliness an on-site eating house (possibly several), a couch, a full-service spa, a state-of-the-art physical sweat installation, poolside bar, etc.

The conveniences in a condo hotel are far greater than what you would typically breakthrough in a condominium.

FURNISHINGS

Condominium – Condominium are usually sold unequipped. You may decorate your unit of mensuration of mensuration of measurement as you like, and you pay for all furnishings.

Condo Hotels – A condominium hotel unit is delivered to you wholly equipped, typically with high-end article of furniture, gadget and fixtures selected by a professional interior interior room decorator. All unit of measurement are decorated the same, more or less, much like hotel suite.

Condo hotel unit of measurement of measurement of measurement are present user-ready upon receipt. The cost for furnishings is included in the damage of the condominium hotel unit.

SERVICES

Condominium – You are responsible for your own housework and unit upkeep. Services are unremarkably limited to maintenance and perhaps security.

Condominium Hotels – You get daily housekeeping as you would in a luxury hotel. You have entree to room service, concierge services, care services and cheque-in services.

The vast majority of condo hotels are run by big-name hoteliers like Ritz Carlton and Hilton, the consummate professionals when it comes to client service. Most of the same services available at their high-end hotels are offered at their condominium hotels.

LOCATION

Condos – Condominium can be found in almost every major market crossed the country. Some condo developments are in holiday resort areas, spell others are not.

Condominium Hotels – At this time condominium hotels are only available in a smattering of locations, all of which are major holiday goal or highly desirable urban center, such as Confederate States Florida, Las Vegas and Stops.

Condo hotels are ordinarily reinforced on the most desirable pieces of land such as on a golf game game game course of instruction, overlooking the ocean or in the heart of a major city.

PRICE

Condominium – Leontyne Price for condominium can start as low as $70,000.

Condo Hotels – Units start at $200,000, and most are well more. An oceanfront four- or 5-star condo hotel unit of measurement can cost $500,000 to over $1,000,000.

RENTAL INCOME POTENTIALITY

Condominium – You have the option of rental out your unit when not victimization it. Nevertheless, you are responsible for determination your own tenant, preparing the unit of measurement of measurement of measurement for those renters, dealing with any care issues that develop and collection the rent.

The condominium associations approval may be needful on tenant issues. You bread and butter 100% of the rental revenue.

Condo Hotels – All interior info are handled for you. When you ‘re not victimisation your condominium hotel unit of measurement of measurement, you simply place it in the lease programme.

Tenant would be found for you, and all aspects of the renters stay would be handled by the hotel management company. The entire procedure would be hassle-free people for you.

You would have a portion of the rent revenue, typically 40%-50%; the balance would go to the direction company. Because the condo hotel most likely is a subject or international hotel concatenation

(such as Hilton or Ritz Carlton), it has a worldwide gross sales force, multimillion dollar marketing run, loyalty programs, a centralized reserve system and a strong Internet presence, all of which advise that the places direction would probably have better success at keeping your unit lease than you would as an person condominium proprietor.

APPRECIATION POTENTIAL

Condos Whether your condo will appreciate or deprecate depends strongly on its location. Because there are so many condos on the market, the rules of supply and demand frequently help keep leontyne price down. For the same ground, condominium can be difficult to resell.

Condominium Hotels Because condominium hotels are a comparatively new type of place investment, they are limited to just a smattering of locales crossed the country. The supply is small and demand is presently high and growing, all of which lend rapid and important appreciation.

Another factor to keep in head when reselling a condo hotel unit of measurement of measurement is that you ‘re merchandising not only the existent unit of measure of measurement of measurement but also the luxury modus vivendi that come up with an amenity-filled, high-service place.

Many condominium hotels are sold out in pre-building. Often the developers, sensing the high demand, will themselves raise prices many times before all units are gone.

For example, The Mutiny condo hotel placed in Coconut Meat Meat Grove, Florida was the first condominium hotel to be built in South Everglade State. From the time the developer began accepting deposits until it sold out in pre-building, there were nine price increases. People who bought early did exceptionally well.