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Destination Clubs
Golf Connoisseur, Brian MCallen (May/June 2006)
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The vacation home market is stronger than ever, especially among avid golfers and especially in the Sun Belt’s choicest precincts. However, the big news in real estate right now are the enticing alternatives to traditional second-home ownership.
Chief among them are “destination clubs,” which in many ways parallel high-end country clubs: Most require a hefty six-figure membership fee (usually wholly or partly refundable upon resignation from the club), plus annual fees ranging from $10,000 to $35,000 per year. But unlike a country club anchored to a single address, destination clubs allow members to pick and choose from a portfolio of luxury homes in a variety of domestic and international locations with the group. Usually, the different levels of membership buy different levels of luxury (house size and value). Destination clubs not only take away most of the burdens of second-home ownership—maintenance, taxes, and so on—they open the door to amenity-rich homes in world-class beach, mountain, and urban locales.
The level of luxury and choice differs from club to club. Also, the amount of time at the club one is entitled to, from 15 days a year to unlimited access, varies greatly. And while some clubs charge nightly rates—generally $75 to $100 a night to cover maid service and other operations costs—other clubs cover those fees in the membership.
In addition the beautifully appointed homes, top-shelf destination clubs are distinguished by their exceptional service. Much like the staff of a five-star hotel, on-site concierges cater to every whim, arranging everything from tee times and massages to yacht charters and theatre tickets. The ultimate luxury is getting what you want when you want it.
A downside? Members typically don’t benefit the club’s real estate appreciation, so the investment is strictly in your leisure time. You’re purchasing access to seven-figure homes at coveted locations—with no mortgage required other than a hefty down payment. The raison d’etre for such a purchase? A high-quality experience, no hassles, and location diversity.
Because golf is a key amenity for most prospective buyers, properties are generally situated near first-rate golf courses. If you also enjoy skiing and the civilized refinements of cities like New York and Paris, the destination club concept may be worth exploring.
The Markers
Location: Properties presently in Scottsdale, Airzona; Southern Pines, North Carolina; Cabo San Lucas, Mexico; and St. George, Utah. Coming: Daufuskie Island and Kiawah Island, South Carolina; Las Vegas, Nevada; and Maui, Hawaii. The goal is 36 private residences, average 3,500 square feet, which can accommodate a foursome and their spouses, a group of friends, or a large golf-happy family.
Benefits: This club is oriented to avid golfers, In addition to an annual club championship and golf excursions to top destinations, the homes feature 24-hour concierge, service, the latest golf demo equipment and other golf-themed extras.
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