Pros And Cons Of Buying In A Resort

Pros And Cons Of Buying In A Resort

There are many options and fantastic options open to buyers of second homes and vacation rental homes - one popular choice is to buy in a Resort, but is it a good idea?

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Ultimately the answer to that will be determined by many factors and the goals and preferences of the buyer, so working with a realtor experienced in selling in this sector is central to making a good decision. 

For those that chose to buy outside of resorts, they often cite peace and quiet and lower HOA fees as the determining factors - certainly this is true, and especially among the 'snowbird' community who visit for 3 or 4 months each winter, they feel that being in a non-resort community, often with a mix or residential owners and short term homes allows for them to get to know their neighbors and feel more at home.  

Some of the resorts truly offer an amazing array of amenities, including pretty much whole water parks in some of the newest ones!), concierge services and even rides to the parks - its a true 'I'm on vacation' experience! These amenities in turn translate into popularity for the resort meaning higher returns for owners.

 


The main benefits to a resort community would include

* Security guard gated entry and on site security. Appeals immensely to both owners and their guests.

* More amenities - resort pools, clubhouse, tennis courts, movie theater, lazy river, tiki bars, on site food are all common features

* Higher occupancy levels due to the amenities.

* Better nightly rates leading to a higher ROI for investors and more security for buyers with mortgages to cover.

* Resort HOA's often include all exterior maintenance and irrigation as well as cable TV service, internet and phone, and homes all look uniform. This keeps residual prices buoyant.

Appeals more to: Families, those looking for lots of activities and convenience, close to parks, investors wanting a higher return.

Reasons Resorts to not appeal to buyers would include:

* Can be noisy and very busy especially in peak seasons, even 'rowdy' when large groups come in.

* Tends to appeal less to snowbirds, more to families who can be harder on the homes (think wear and tear)

* Higher HOA fees and sometimes an annual CDD payment make running costs higher.

* Stricter HOA rules may feel restrictive to some and communities can be very 'cookie cutter'

* The home doesn't feel like a 'home' with transient neighbors there is no sense of community.

Appeals more to: Couples, snowbirds, those wanting a quiet respite from the parks, those more interested in having a second 'home' and being part of the community, those not renting out the home, or those needing to just cover expenses.

Exit Realty Champions is set in the heart of vacation home communities with several great resort and non-resort options on our doorstep. For more information click here or email sales@resorthomesfl.com



Caroline Mitchell Headshot
Author:
Phone: 407-808-7635
Dated: June 9th 2017
Views: 46
About Caroline: Originally hailing from Birmingham in the UK, Caroline moved to the West Palm Beach area of South Fl...

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