Beginning with the introduction of timeshares nearly three decades ago, options emerged to meet the demand of people looking for the proper match of vacation time, amenities and cost beyond the more traditional offerings. The continuum of vacation property options now covers everything from single-night-stay hotels to fully-owned second homes and includes condo-hotels, Private Residence Clubs, Destination Clubs, and fractional ownership shares. The option that is appropriate to any individual buyer will depend upon the lifestyle desired and the willingness and ability to pay for selections from the leisure menu.
To understand the option best suited to your needs consider the following: Traditional Timeshare
Usually found in hotel-oriented resorts in ski areas and beach locations.
Most are 1-2 Bedrooms with Low to Moderate amenities and services.
Not conducive to stays longer than a week or for entertaining guests.
Relatively affordable and provides some flexibility of locations.
Best suited for couples and small families with recurring, limited vacations.
Condo Hotel
Often found within a resort property that is managed by the developer.
Usually 1-2 Bedrooms with high amenities and services.
Purchased as a condominium with attendant dues, fees and taxes.
High livability and suitability for extended stays.
Best suited for local singles and couples without large families.
Private Residence Club
Luxury residences that can include single-family, multi-story or hotel-type properties.
Usually 2-4 Bedrooms with very high services and amenities.
Superior locations with turn-key appointments and furnishings.
Premium cost per square foot commensurate with 'concierge' service and attention.
Often sold as tenant-in-common with individual right of re-sale.
Well suited for executive families with guests.
Destination Club
Similar to Private Residence Club but typically a network of single-family luxury homes.
Often 2-3 Bedrooms with high amenities and services.
Access to multiple properties in various locations.
Limited availability of extended stays based upon space available.
Ownership is usually based on non-equity, pooled portfolio and not easily transferred.
Best suited for mobile families with guests.
Fully-Owned Vacation Home
Specific home with any configuration and wide range of costs, amenities and services.
Very high livability and ease of scheduling.
Low support for turn-key services and remote maintenance.
Best suited for local family and guests or the semi-retired.
Underutilized and inefficient for vacation or second-home use.
Resort HomeShare™Limited Ownership Share™
Unique single-family home designed to accommodate the resort lifestyle.
Most homes are 3-4 Bedrooms with high amenities and furnishings.
Sense of ownership not found in most divided interest properties.
Shared costs and expenses allows optimal balance of luxury and value.
Ownership based on undivided, deeded interest within a Limited Liability Company.
High livability and suitability for year-round use.
Professionally managed, monitored and maintained.
Accommodates families with guests and well suited as a legacy property.