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Destinations, Full Ownership, Real Estate, Residences

What is the Difference Between a Condo and a Condo-Hotel?

As with so many fusion concepts today the mash-up of Condo and Hotel that the real-estate industry has begun to see has inspired a new, fusion word: condo-hotel. This might seem like a silly word, but it’s one to get a grasp of if you’re planning on buying a condo in a resort location. When it comes to second homes, vacation homes, and rental investments in the sun high-rise condos are a staple due to the low-maintenance, high quality living that they offer. The condo-hotel has created a new facet to this experience;

What is a condo-hotel?

In order to understand the value of a condo-hotel we need to understand how it differs from the usual condo; these are, essentially, condo’s which are managed by luxury hotels. The units are individually owned, but are altogether branded with the hotels name, whereas the usual condominium building lacks this branding and marketing. The benefits of these differences are quite noticeable; the hotel works as a property manager of sorts for the building and will schedule stays, deal with building maintenance, and keep things ticking over in your absence. Furthermore condo-hotel tend to get access to the hotel facilities and amenities like gyms, pools, room service, and spas. Some of these are perks which condominium buildings might have, but it is unlikely the same calibre of equipment and service will be found outside of a Condotel.

Advantages of a condo-hotel Over Traditional Condo Ownership

The aforementioned extras and perks obviously stand as one reason why condo-hotel have become so popular in recent years, but there are other benefits which set them apart from the average condo purchase. Firstly, the stress of building maintenance is taken on by the hotel company so you don’t have to worry about that! Secondly, the furnishings and décor are taken care of, too. This could be a downside, however, if you like to make your mark. Thirdly, should you wish to make some money from your investment with vacation lets the hotel will generally oversee this process for you, thereby making it a much less risky and stressful activity for you.

In fact, the main advantage that a condo-hotel offers over a traditional condo is just that; less stress, more perks, and the ability to get your dream vacations year on year without all the hassle that comes with a second home.

Tax Advantages of condo-hotels

If you don’t use your condo-hotel as a primary residence you may experience tax benefits. An accountant will be able to more specifically tell you what the benefits of this are when applied to your specific financial and tax situations, but an obvious upfront benefit is a reduction in your tax bill in the years when it is used.

Now that you know a bit more about Condos and condo-hotel you can begin to think about which will work for you in the long-run.

Ref.:ArticleMonster.com

by VLEAdminRE,
FAQ

FAQ: How do Villa La Estancia’s fractional villas differ from residence clubs or condo hotels?

The confusion that often occurs when people compare Villa La Estancia’s fractional villas with residence clubs or condo hotels is because all of these types of vacation ownership offer luxurious accommodations and services within resort complexes. Just like the residence clubs or condo hotels, you will enjoy all the five star services available at Villa La Estancia, indulging in your second home like a resident guest.

How do Villa La Estancia’s fractional villas differ from residence clubs or condo hotels?

The main advantage and difference between Villa La Estancia’s fractional villas and residence clubs or condo hotels is that you own a specific fractional property forever, just like any regular real estate purchase. That is, residence clubs and condo hotels tend to offer individual rooms or suites, like staying in a hotel, and in most cases, you will not stay in the exact same suite each time you use your vacation membership but one that is similar. Effectively, with residence clubs and condo hotels, you buy a “floating floor plan,” even though you may have a title to a specific property. On the contrary, when you purchase one of Villa La Estancia’s fractional villas, you will return to exactly the same residence each time you arrive because you have bought a permanent fraction of time in a specific unit.

When you purchase a Villa La Estancia fractional villa, you will also be free from making reservations. As long as you wish to use your fractional property during your allocated times, you will not need to make a reservation. All you need to do is to inform the hotel of the day of your arrival so that your suite is in the perfect condition to receive you for a luxury vacation.

Another advantage of Villa La Estancia’s fractional villas is the opportunity for equity and appreciation. Just like any real estate purchase, your fractional vacation property can appreciate and your equity is valid in the case that you wish to sell or leave your villa to a family member in a will.

by VLEAdminRE,