Miami, FL (PRWEB) August 7, 2006
There is a new type of golf vacation home that golf enthusiasts are buying. This new type of golf vacation home is the combination of a golf vacation residence, a luxury resort hotel, a luxury condominium, and a real estate investment property.
"This is a new lifestyle concept combining the luxury, service, and amenities of a world-class hotel with the ownership benefits of a high-end condominium. This new real estate approach is ideal as a second or third vacation home, or a premier golf vacation residence," says Mr. Kevin D. Wright, a South Florida Realtor and Licensed Mortgage Broker.
In general, golf aficionados are buying golf vacation homes that fall under the category called Resort Hotel Condominiums. What exactly is a resort hotel condominium? It can be described as a combination of owning a luxury condominium and living at a luxury resort hotel. Mr. Wright added, "Sometimes you will hear this concept described as hotel condominium, condominium hotel, or condotel."
"The concept of hotel condominium originated in the South American and European markets. It is now enjoying great success in key American markets such as South Florida," says Mr. Wright. "Florida leads the nation in the creation of hotel condominiums."
An owner of a resort hotel condominium enjoys all of the benefits of owning a home. An owner of a resort hotel condominium has the ability to re-sell their unit in the open market. The owner pays real estate taxes, maintenance fees, and the usual insurances. Under certain circumstances, these typical payments could represent tax deductions. Obviously one would consult a tax specialist for specifics concern tax deductions. Mr. Wright added, "Some buyers may find that purchasing a resort hotel condominium can be an excellent vehicle for 1031 tax deferred exchanges. We have the resources to put something like this together."
As an owner of a resort hotel condominium, each owner has the option of allowing their unit to be placed in a rental management program when they are not using their golf vacation residence. The golfers like this part because it can lower the carrying costs of their vacation home. When their home is not in use, a resort hotel condominium could generate hotel income. "One should never leave an asset under-utilized. This is the part that attracts many golfers. Many golfers use it as a second or third vacation home that doubles as a real estate investment. Generally speaking the net revenue, after expenses, generated from the rental of an owner's suite is paid directly to the owner by the hotel management company," says Mr. Wright.
The resort hotel condominium is managed by an experienced hotel management company. This hotel operator not only manages the hotel's reservation and rental program, but also markets the residences, takes reservations, operates the front desk, and maintains the property. "The hotel management company provides the services hotel guests and suite owners expect, such as housekeeping, food and beverage, and concierge," says Mr. Wright.
An owner of a resort hotel condominium is granted full use of hotel services and amenities including, maid service, dry cleaning service, valet parking, pool, spa, concierge, business center, health/fitness center, fine dining, tennis, and most importantly golf. Mr. Wright added, "Resort hotel condominiums are at the high-end, luxury segment of the market. All amenities are presented in an upscale, luxurious manner."
At the upscale, luxury end of the market, developers and hotel management companies ensure and maintain a high standard when it comes to the furnishings and fixtures in a resort hotel condominium suite. The typical finishes include contemporary guestroom and suite furniture, luxury bedding, marble and granite baths, state-of-the-art technology, such as flat screen TVs, DVD and CD players and wireless Internet access. "Resort hotel condominiums are defined by elegant, high-quality furnishings throughout the entire resort hotel," says Mr. Wright.
Golf enthusiasts around the world have recently discovered two major resort hotel condominiums located in tropical South Florida. One project is located in the Miami, Florida area and the other project is located in the Fort Lauderdale, Florida area. Both of these resort hotel condominiums' primary focus is on golf.
"The resort hotel condominium located in the Miami area will be designed as a series of 15 grand old Floridian style mansions," says Mr. Wright. "Each suite will face the legendary golf course that every true golfer around the world knows intimately." Each suite at this Miami area location is fully furnished and equipped with every convenience one could imagine.
The resort hotel condominium located in the Miami area offers five championship golf courses. As an owner of this particular golf vacation residence, one would have access to preferred tee times on all five championship golf courses. This includes the golf course featured in major golf tours. This particular golf course has recently become part of a major golf championship series. Mr. Wright added, "It is already renowned for its fabled champions and electrifying tournaments."
This particular golf course in the Miami area has always been a part of one of the major golf tours in the world. Every year in the early spring, the world's greatest golfers face up at this South Florida location. The golf course plays at 7,125 yards from the tournament tees.
The Miami area resort hotel condominium also offers a world-renowned golf school. Golfers around the world consider this particular golfing school to be one of the leading golf schools in America.
The Miami area resort hotel condominium is the first and only luxury resort condominium ever to be developed along the fairways of a legendary golf course. A popular golf digest ranks one of the golf courses at this South Florida location as one of the top golf courses in Florida. A popular golf magazine identifies the 18th hole on this golf course as being one of the top 100 holes in the world.
After a golfer buys a resort hotel condominium at this particular Miami area location, they will discover how to receive complimentary tickets to a major golf tour event.
The resort hotel condominium located in the Fort Lauderdale, Florida area offers two championship golf courses. The golf courses feature signature waterfalls, beautiful vistas, and challenging greens. There is even a resident golf concierge available. For the true golf aficionado that prefers Fort Lauderdale, there are six additional high-level courses in the area.
The resort hotel condominium located in the Fort Lauderdale area consists of nine Key West-inspired buildings each containing 28 furnished resort residences. "The interior designers spared no expense in decorating the interior of each suite," says Mr. Wright. "Just imagine a suite inside a luxury hotel and that will give you an idea of the suite's attention to detail and comfort."
The two major resort hotel condominiums located in tropical South Florida differ in pricing. The purchase of one of these resort hotel condominiums can be financed. Much like a conventional, residential condominium purchase, the lender's decision to make the loan will be based on the creditworthiness of the individual purchaser and the value of the residence being purchased. Mr. Wright added, "Not all lender's understand or provide funds for the purchase of resort hotel condominiums. One may wish to use current banking relationships and find that rates are unacceptable or the property type is unacceptable. As a Licensed Mortgage Broker, we have established relationships with two lenders that specialize in resort hotel condominiums."
Savvy golfers have found resort hotel condominiums to be the best luxury resort, vacation home, retirement home, second home, and real estate investment property alternative. The resort hotel condominium is a new breed of real estate. It is a new lifestyle. Many are viewing this as an investment in a lifestyle. "We hear stories of resort hotel condominium buyers bragging about their new purchase. They are making their friends, relatives, and co-workers jealous. They get pampered existence, the whole package. It's more than golf," says Mr. Wright.
About Mr. Kevin D. Wright:
Mr. Kevin D.Wright is currently marketing resort hotel condominiums in South Florida. Mr. Wright is a Realtor and Licensed Mortgage Broker. Kevin has lived in South Florida for the last seven years and has been in the real estate and real estate finance business for the last three and a half years. Mr. Wright has a Bachelor of Science degree in Management from Penn State University. Kevin has been employed by some of the world's best known companies: Hallmark, Merrill Lynch, American Multi Cinema, AVIS, Bank of America, American Express, Prudential, and Hard Rock Hotel & Casino. Mr. Wright is currently a Realtor with EXIT Ocean Realty in Fort Lauderdale, FL and a Licensed Mortgage Broker with Infinite Funding Services in Sunny Isles Beach, FL.
Mr. Kevin D. Wright, Realtor
EXIT Ocean Realty, Inc.
Mr. Kevin D. Wright, Licensed Mortgage Broker
Infinite Funding Services, Inc.
Direct Phone (954) 274-8012