Condo hotels are typically high-rise, upscale properties in popular vacation destinations. You’ll find them situated most likely by impressive views of beaches and golf greens. They’re usually operated by prestigious hospitality companies like Hilton, Four Seasons and Hyatt.
But why should you purchase one of these properties? Here are six reasons why you need to consider buying a condo hotel.
Ownership is a Breeze
The Amenities Available Are Unmatched
Access to a HomeOwner’s Association
The Potential to Rent out Your Property
Resorts are Secure
Condos For Sale in Spectacular Destinations
1. Ownership is a Breeze
With people living increasingly busier lives, hotel condos are attractive to buy because of their convenience and low-maintenance. While to hotel guests they may look like a regular professionally furnished hotel, the rooms and suites are individually owned as condos.
To make ownership even easier, an on-site management company takes care of everything from renting out to operating and maintaining your property when you’re away. For that reason, condo hotels are often referred to as a done-for-you vacation home and are becoming increasingly popular.
2. The Amenities Available Are Unmatched
Of course, every condo hotel is different, most offer the amenities and guest services you’d find at an upscale hotel complex.
Developments can offer access to swimming pools, gyms, restaurants, bars, meeting facilities, spas and beaches. This and so much more are included at Bermuda’s first Hilton hotel. Bermudiana Beach Resort, Tapestry Collection by Hilton, is a modern vacation condo resort with condos available for purchase.
You can learn more about this exciting venture here.
3. Access to a HomeOwner’s Association
After purchasing a condo, you’ll automatically join and contribute to the HomeOwners’ Association. The HomeOwner’s Association (HOA) exists to ensure that all of the shared amenities are looked after and it benefits the whole community.
The work the HOA does improves the quality of life for all the residents and can enhance the property asset value. Most importantly, a well-maintained exterior courtesy of the HOA protects property prices - should you ever want to sell your piece of paradise.
4. The Potential to Rent out Your Property
One of the key benefits of purchasing a condo hotel in a major franchise like Hilton is that its name recognition and worldwide reservation system help to keep your room occupied. The on-site management company runs the rental program and their job is to promote the property and generate interest.
5. Resorts are Secure
Condo hotel resorts often have 24:7 security with systems in place such as CCTV.
Neighborhood watch schemes are also commonplace, going hand-in-hand with the close-knit community that usually develops in condo hotel locations.
6. Available to Purchase in Many Spectacular Destinations
These days, you can find condo hotels popping up in many enviable locations, many just a short flight from the east coast of the US.
From the Bahamas to the charming island of Bermuda, while the rich cultures of all these places might have some similarities - beautiful beaches and friendly faces - there are unique characteristics that make them all wonderfully different.
It’s a challenge for us to remain unbiased. Even though there are amazing destinations all over the world for you to consider, none are quite like Bermuda. Previously, Bermudian residential property was available to purchase by predominantly high net worth overseas buyers. This was mostly because of the highly restrictive legislative and policy framework which governed the supply of homes and condominiums for sale to these buyers.
However, Bermudian real estate can now be bought by non-Bermudians at a more attainable price point. You can learn more about what to expect from the island’s laidback lifestyle here.
The ingredients to a successful condo hotel include a magnificent location, an attractive selection of amenities, a respected developer, a strong brand and effective management. There are questions that you need to ask yourself before taking the plunge on buying a condo in a condo hotel resort, but we hope you’ll consider this type of property for your next vacation home.
Don’t worry, we’ve got just the guide. We’ve put together a resource that will help you get better acquainted with condo-buying laws and guide you through the buying process. Download it below today for free.
Everything You Need to Know About Buying a Vacation Condo
Purchasing a condo is an exciting time, especially when it’s in a beautiful location such as Bermuda. Although we recognize it’s not an easy process without guidance, that’s why we’ve put together the ‘Guide to Buying a Vacation Condo in Bermuda’. It’s an all in one resource to help the buying process run as smoothly as possible.