We all have that pang at the end of a beach or ski vacation. “I don’t want to go back to my house in the city, my job and my daily grind. Why can’t I be on vacation all the time?”
While only your financial adviser can tell you if you’re ready to become a full-time ski or beach bum, there is another option to make your lifestyle more like a holiday: Buying and living in a resort community. Whether it’s a posh-but-casual mountain enclave like Vail or Whitefish, or a sun-and-golf paradise like Kiawah Island or Scottsdale, resort properties may make you feel like you’re on vacation all year round. These can be great investments, and many people can work or run their business from any location.
Kiawah’s Golf Lifestyle: Photo by Bill Showalter
Just as if you were shopping for a new home in a typical metropolitan suburb, buying luxury property in a resort community has its own checklist of questions. Yours may include:
1. What type of amenities does the resort offer property owners, and at what annual or monthly fee? Tour facilities like swimming pools, country clubs, golf courses, tennis or equestrian centers, and on-property dining to get a feel for them.
2. What are the vacation rental policies? You may want the option of renting out your home, but you also may not like a resort where too many of your neighbors rent their properties on a regular basis.
3. Is the resort or community family-friendly? If you have kids, are there good schools and kids’ sporting activities available? Is this a resort that mainly attracts empty nesters where kids may not have many playmates?
4. Does the community have a small-town feel where I can get to know my neighbors, or are many of the properties real estate investments where the buyers are rarely present?
Ski to Work in Vermont
In addition to sports or recreation amenities, resort developments may offer some of the high-end features that you’ve come to desire, including security and gates with access only for residents, staff or guests. You should also do more homework before flying out to see any property. Research the property’s distance from the nearest large airport or train station. Check recent foreclosure rates and home appreciation numbers to make sure the resort is a solid investment. Find out if there are good hospitals or medical offices nearby.
Stylish Scottsdale Shopping: Photo by Joseph Plotz
Towns near ski resorts are always popular for those seeking a work-life balance that includes plenty of outdoor activities. RealtyTrac’s 2015 rating of the best ski resort communities for real estate investors includes Huntsville and Sandy, Utah; Bellingham, Washington; Georgetown, Colorado; and Whitefish, Montana. If you prefer velvety greens to snowy slopes, experts also say that 2015 is a great year for buying property in golf resort communities. Top developments include Virginia’s Magnolia Green, California’s Saddle Creek Resort, and Texas’ Cordillera Ranch.
So pack your skis, golf clubs and sunscreen, and explore real estate investment opportunities in luxurious resort destinations. Life can be a vacation.
