Maybe your best place to live is in a destination club or residence club. Perhaps you would like to live there part time and rent your property the rest of the year.
Learn about your options and what may be the perfect solution for your lifestyle.
If your best place to relocate or retire includes living in North Carolina or South Carolina part time, then Destination Clubs and/or Private Residence Clubs may be just for you.
Destination Clubs and Private Residence Clubs provide exquisitely furnished, high-end properties that are usually located at popular resort destinations.
Depending on the property, they provide the same personal concierge service and lavish amenities you would expect to find at a five-star resort or exclusive country club.
They usually have a spa, gourmet restaurants, upscale shops and an extensive fitness center. Most clubs allow the purchase of extra weeks, should you want to take a little more vacation time this year!
Both offer the undeniable advantage of not being responsible for the maintenance of the property.
When you visit, you enjoy a home perfectly maintained by a management company, and you’re free to fully enjoy your vacation time and leave with nothing to worry about.
And best of all, you don’t have the added responsibilities that come with owning a second home.
Regardless of what option you choose, consulting an attorney specializing in the field is a must. Both types of clubs are increasing at a rapid rate, with new companies starting all the time.
Investigate the company you choose to work with, as some are more financially solvent than others. Check to see if most of their holdings are owned, or leased.
A great website to visit in your research is www.lawyers.com.
Owning a share in either club is a great way to ensure you spend your vacation time enjoying your vacation rather than taking care of a second home.
In contrast to Private Residence Clubs, multiple-site Carolina Destination Clubs are suited for those people who do not want to be tied down to one spot.
In most cases, you pay a membership fee and yearly dues based on the number of weeks you want to use the club’s portfolio of locations each year.
Some companies, such as Private Escapes, offers unlimited stays, dependent on availability of course.
There are some Carolina Destination Clubs which cater to certain interests and have developed a portfolio of properties specializing in anything from real estate in great wine regions to the ever popular golf course homes.
Destination Clubs are popular because most of the properties have concierge services, which help you focus on the fun parts of your vacation And you get to stay in some of the most luxurious properties in the world, which otherwise would be inaccessible to you!
It’s more akin to high-end resort travel.
One of the downsides of Carolina Destination Clubs is that, unlike Private Residence Clubs, Destination Clubs can not be viewed as an equity investment.
You do not own any part of the property.
If you wish to cancel your membership, your refund will typically be 80 to 90 percent of your membership fee, but it’s based on the length of time you’ve been a member.
Make sure you ask if there’s any requirement as to the number of shares sold in the club, before they will refund your membership fees.
According to Luxury Living magazine, some of the top destination clubs include, Yellowstone Club World, Solstice, Timbers Resorts, Quintess, and Ultimate Resort.
These clubs are not like the timeshare properties we’re all familiar with.
These are very upscale resorts with diverse, luxurious amenities.
The classic timeshare properties are not as flexible as to when you can use your weeks, and are not as “liquid” when you want to sell them.
See You in the Carolinas!
Bob Bencivenga is a professional site locator and location analyst for major corporations.Bob researches the growth of NC and SC to find the Best Places to Retire or Relocate that are still affordable. Bob Does Not Sell Real Estate!
Can I Reprint Your Articles?
© 2005-2013 Places of Value Inc. All Rights Reserved. Reproduction without permission prohibited.
Follow Us and Join In The Best Places To Live Conversation