First of all, you can use your condo hotel unit whenever you feel like having a vacation. This is not the case with timeshares that are allowing you to use your property only for a limited period of time every year.
Secondly, you will benefit from a luxury accommodation treatment. These condo hotels are usually first-class, luxurious properties equipped with the best facilities.
Another advantage is not dealing with any maintenance issues. The maintenance company will take care of everything in your place. This wouldn’t happen if you were the owner of a second house, where repairs were your responsibility.
You will have your own place in the sun. Considering the fact that oceanfront land is limited and expensive, by buying a condo hotel unit you will secure your place for recreation. You will not have to worry anymore about how expensive a vacation can be or about not finding a free hotel room while travelling!
You will even gain money out of this condo hotel unit. Whenever you aren’t using it, you can arrange with the hotel management to put it back into the hotel’s usual rental programme. You don’t have to worry about finding tenants or keeping an eye on them, the hotel management will deal with these problems. The income will be split evenly with the hotel management.
Your investments portfolio will be diversified. Investing in real estate is safer than investing it at the stock market. Owning a condo hotel will spare you the worries about the ups and downs of the stock market.
And, maybe the most important advantage of all, you will save on your taxes. Buying a second home will provide you with a new range of federal tax deductions and tax-sheltered income.