There are of course the alternatives. Timeshare is a short-term home owning opportunity. You can buy a vacation home for as little as one week of the year. By availing timeshare opportunity you may be able to enjoy your vacation inexpensively. In general, such properties cost less than staying in hotels. But on the other hand unlike your second home youll not get any income from it. Plus you never can predict the ultimate value of a timeshare, should you ever decide to sell it. After all, you are competing with the timeshare people.
In contrast to a timeshare, investment in a fractional ownership allows you to hold on to your partially owned vacation property for much longer time periods. So by investing on fractional ownership vacation homes you can come to your favorite resort as many times as you want, Addition it will definitely cost you less than a comparable stay in a hotel. The price margin for fractional vacation homes for sale is quite fair. So you can also get this financial benefit out of it. On the other hand, the drawback is that you have to coordinate your stay with other people. Furthermore, as these sorts of vacation homes are not rented out, youll not be able to get any extra income.
The options we discussed above excluding buying a second home dont make you a sole owner of any vacation property. If you want to buy a property but also think that you cannot take care of it, plus you are charmed by the idea of getting additional income, the hotel-vacation-home may just be the ticket for you. The way it works is, that you buy luxury vacation home or a vacation home, which is actually a room in a hotel; you buy it and spend your holidays in it any time around the year you want. When you buy a nice furnished room in a hotel, the first benefit is you dont have to decorate it; its already done for you. Room service? You got it! Furthermore you can rent it out. You also dont have to take extra headaches of maintaining it; the hotel will do that for you. There is a good chance that you can sell it at a great price.
If it seems too good to be true, then it may be so in some of the cases. Like if you buy a room in a hotel and you rent it out afterwards the income would be shared with the hotel. On the other hand, if you room is not rented out you still have to pay the maintenance charges. Then renting out is also very tricky, as you yourself would like to use the room in the prime vacation season. That is why its very difficult to decide when you are going to use it and when to rent it out. The difficult choices are what make life interesting. To talk in more concrete terms, say you long for the beach fun. Perhaps a vacation place in San Diego is what the doctor ordered. San Diego is a paradise of beaches, splashing clear water, sandy coastline a desire of beach admirers.
There are choices for a hotel-vacation-room available in San Diego. Staying in a San Diego hotel and navigating through its hotel inventory and paying the prime prices can get tricky though. There are several projects going on including Hard Rock Hotel that is consisted on 420 rooms all condo-hotel rooms for tourist. The price range in San Diego starts from a dollar400,000 “studio suite,” with a kitchen area and one bathroom, to a dollar2.3 million two-bedroom property that’s more similar to an actual condo than a hotel room. Not for everyone, I admit, but definitely an option to consider if you are at a certain price/benefit point.