Since selling this home, Savage and his wife
have found several vacation investment properties that they believe do justify
the expense. They have recently purchased two condominiums at a “condo-hotel” in
the Squaw Valley ski resort area, and fractional ownership in a $3-million home
at nearby Lake Tahoe, where they may spend up to six weeks a year. “We were
looking for a vacation property that had all the amenities without the
maintenance,” says Savage. “Plus, I didn’t want to spend $3 million or $5
million for a place I only go to for six weeks.”
 | | EXCLUSIVE RESORTS members have access to luxury accommodations in multiple
vacation destinations like this lakeside property in Scottsdale, Ariz. |
Judging by the growing
popularity of alternatives to the traditional vacation home investment model,
many of us are looking for the same combination of high comfort and low
commitment. Numerous exclusive vacation destinations now feature
condominium-hotel suites, like the two units Art and Susan Savage own, which
combine the services and amenities lacking in a vacation home with some of the
investment benefits of outright ownership. “Residence clubs” offer fractional
ownership of an actual resort home for those who consistently vacation in one
place, for a limited time each year. Finally, for those who never repeat the
same vacation twice, “destination clubs” offer access to popular beach and
mountain resorts worldwide, but no equity.
These options all guarantee fully
furnished, luxury accommodations with no maintenance responsibilities for a
smaller capital investment than that of vacation homes. However, they differ in
cost, availability, location, amenities and equity. In general, the less equity
and profit potential, the greater the service, amenities and destination
flexibility.
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