Resort communities typically offer beautiful scenery, fabulous amenities, upscale homes, and an abundance of recreational activities such as golfing, skiing, or beaches. Of course nothing is perfect, and while resort home ownership sounds dreamy, it also poses challenges. Since resorts are typically situated in the most beautiful places, they can offer advantages like:
•Recreation and amenities. Resorts offer activities such as snow skiing, golfing, spa visits, or the beach. And, if you’ll be at the resort home full-time, or visit regularly, you’ll have lots of time to take advantage of these and other amenities. You won’t be competing with others to choose the best visiting times.
•A wide variety of restaurants and nightclubs are also common in resort areas. More night life, shopping, and entertainment options than in similar sized towns. Resorts often attract high quality performers, and might offer such things as classical symphony concerts under the mountain stars, rock concerts by well-known artists, or ballets by visiting professional dance companies.
•Wide variety of homes and condominiums to choose from, whether its a cabin in Aspen, or a condo in Florida.
•Resorts tend to attract people from all over, resulting in a more interesting and diverse population than many other towns of a similar size.
However, they can also come loaded with many disadvantages. For example, it is expensive to own in these locations. Resort living can be great, but it typically doesn’t come cheap. Resorts commonly attract people with money to spend, and home prices tend to reflect this. How good an investment your prospective resort-community home might be depends on many factors, so be sure to talk to a realtor.
The daily cost of living in a resort is typically higher than average, for everything from gas to groceries. Since resort communities are less likely to have large chain discount stores, you’ll likely need to shop at smaller, more expensive stores. Taxes are often higher in resorts, too. These taxes are meant to avoid overburdening the residents of tourist areas with individual expenses incurred due to the impact of tourists on the infrastructure.
Even if you don’t live in the house, it’s still going to have to be maintained. And, a part-time homeowner might also need to hire an on-site manager to handle ongoing maintenance. Some part-time owners also choose to hire a property manager to ensure that their vacation home is cleaned, stocked with groceries, and heated upon their arrival.
Weather is an issue worth taking a careful look at. Blizzards, below-zero temps, and black ice can make life in a mountain area hazardous and uncomfortable, while homeowners at beach resorts might suffer from temperature spikes and intolerable swarms of insects. It’s wise, therefore, to visit the resort in all seasons before buying, to get a taste of what the area is like in many different conditions.
Accessibility can also be an issue with resort areas. Some areas have no airports nearby and require drives through areas that can prove challenging, such as severe cold weather conditions.