Consumers are still "confused" by the various vacation options offered in today's changing second home / holiday club. To simplify the questions, we present a short Q&A platform to help consumers decide what type of product best suits their needs. These are initial questions to help consumers address the wide range of information available from websites, developers, and consumer protection groups.
- 1. When owning your vacation home, how important is the security of your investment to you?
The most solid model for shared resort property is a partial purchase. It fills the void for both users and developers: it has a great image; offers a variety of products and locations; and many large hospitality brands have jumped on board. It is fully certified and secure like any other form of real estate. The bottom line is that it meets the need and works! Today's owners and developers of partial real estate have benefited from the legal frameworks created for Timesharing: they are protected by lawsuits and property rights insurance, have the ability to receive consumer loans; they can even resell their property.
- 2.How important is vacation to different places for you?
Multi-site clubs (destination clubs) such as exclusive resorts and more offer members many geographical locations for their use. Many of these properties are in the most popular holiday destinations in the world. Most often, however, club members do not have a real estate interest act supporting their membership.
- 3. Do you want to own real estate?
Those who buy membership to a club with many sites are just that, "club members". They do not own real estate. Those who purchase real estate interest in a private residential club or high-end private property are the owners and members of the owners' association, made up of all the owners of this project. In other words, you own your property, even if it's just a part. You represent yourself on the board of directors of the Homeowners Association.
- 4. Want to secure the value of your purchase?
If you enjoy membership in a country club that provides luxury vacations, then a destination club can certainly meet your needs for an expensive entry fee. Whatever type of membership or property you choose, look for credibility in a developer. What have they done before? Who are they connected to? Do they know the area? Did they fulfill the redemption commitments described in the contracts? Will your annual fees or fees support club operations or pay for home program mortgages? All of these elements are keys to a strong, secure investment.
- 5. What are you looking for during your vacation?
If you're shopping for holiday products, what should you look for? As this is real estate, the first component is always a location in a popular vacation destination area. Be sure to decide on an area that meets your family's needs. Are they skiing? Buyers? Mountaineers? Swimmers? Art lovers? Blindfolders? Spa residents? Make your choice wisely and you will be pleased with your investment in your free time.
For more information: www.carlgberry.com www.starresortgroup.com