Vacations produce a lifetime of memories. No matter where you go, you get to spend quality time with your friends, family and the people you care about. Many travelers realize this is priceless and have decided to investigate owning a vacation home or joining a destination club. According to the National Association of Realtors, vacation and investment-home sales both set records in 2005, with the combined total of second home sales accounting for four out of 10 residential transactions.
Here''s what you should think about if choosing between buying a vacation home or joining a destination club:
Second Home
Vacation homes are permanent destinations that work well for those who know they enjoy one area, want to return time and time again and perhaps want to stay for an extended period of time. Owning the home gives the person the ability to decorate, organize and change the home to fit their needs.
With this freedom comes home maintenance that often takes a lot of time and can be costly, including seasonal openings and closings. If you live away from your vacation home, you will need to hire someone to take care of the lawn and clean while you are away. If you live close, you could spend many hours on regular maintenance, not including unanticipated problems.
Destination Clubs
Destination clubs consist of members who join a country club type of organization to utilize a portfolio of properties owned by the club. The clubs work well for someone who enjoys the privacy, space and conveniences a home offers, but doesn''t want to be tied down to just one location or worry about maintenance.
Destination clubs also provide vacation planning and on-site concierge services to help members make the most of their vacation experience. One example is The LUSSO Collection, which specializes in luxury accommodations for its members.
With properties in locations such as Cabo San Lucas, Manhattan and Hawaii, LUSSO provides members unlimited access to multi-million dollar vacation homes. Residences are fully equipped with all needed items including a Lincoln Navigator, golf clubs, a gourmet kitchen stocked with pre-arrival groceries and amenities for all travelers regardless of age.
The country club similarity extends to the economic structure, whereby members pay a fully refundable deposit (currently $350,000) and annual dues for unlimited access to the clubs portfolio of residences and services.
When a friend presented Harry Hoopis, Managing Partner of Northwestern Mutual Financial Network, with an opportunity to join LUSSO, Harry had already done his due diligence on fractionalized vacation models. He decided to sell his vacation property and cut "the headaches of maintenance, association fees, security, taxes and other issues .... This was exactly the right club for me and my family at the right time."
The right choice for you depends on what you really need and want out of future vacations. By exploring your options, you will ensure that you make the right choice for future memories. For more information, visit www.lussocollection.com.
or call (866) GO LUSSO.
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