A characteristic feature of the current stage of economic development is the presence of significant amounts of funds in the hands of the population — unpaid deposits and failed banks have significantly shaken people’s confidence in financial institutions.
In the struggle for resources, banks are increasing deposit rates to a level that makes it almost impossible to lend to businesses.
On the other hand, stored cash makes people think about the most successful forms of personal investment. World practice suggests that one of the promising opportunities may be the participation of citizens in projects of hotels, condominiums, or simply “condos”.
The main idea is that a legal entity or an individual acquires ownership of a room or apartment that is part of a hotel or resort complex.
Since new hotel projects in many resort regions of the country demonstrate good economic indicators, the idea of myrtle beach condos can become very promising.
Myrtle Beach condos for sale allow you to simultaneously get a high-quality residential unit in a hotel offering a much higher level of comfort than a traditional house.
During the period when the owner of the room does not live in it, it is possible to rent it out independently or include the residential unit in the rental program of the hotel, while receiving a certain percentage of the profit.
The idea of a condominium or shared ownership has become a step forward compared to the practice of timeshare, when, since the 70s of the last century, such a form of limited-time use of a real estate object was actively promoted on the market.
Although in fact, a timeshare can still be quite an effective means of individual investment in recreation.
Let’s try to compare these two forms of investment — a timeshare and a condominium on some indicators.
A timeshare costs the client order of magnitude cheaper than a condominium but minimizes the owner’s ability to earn money on it
Ease of use
When buying a timeshare, not only its location is determined, but also a fixed time when its owner can use the property
As a rule, timeshares have common areas and shared swimming pools. At the same time, most timeshare hotels are hotels with a limited set of services. As a rule, the cleaning of the room during the timeshare is the responsibility of the client.
Timeshares are usually located in the most popular seaside resort areas with a long season.
As a rule, most timeshare is not very popular in the secondary housing market. Since this investment option was designed for people with a lower income level compared to condominiums, more serious buyers are unlikely to be interested in your product
A condominium can be considered as a systematic investment that allows you to constantly earn money on tourists and at the same time save on vacation.
Ease of use
When purchasing a residential unit in a condominium hotel, the client is its full owner and can use it almost all year round. At the same time, some condominium hotels still have a policy of restrictions on the use of the property for personal purposes.
Condominiums offer the same opportunities for owners of individual rooms. Condo hotels offer a wider range of services. Cleaning is carried out by the staff, however, in the case of using the
room by the owner, he bears the costs that are directly related to its operation.
Condominiums can be located both at sea resorts, and at ski resorts, in suburban recreational areas, and cities.
Since condominium hotels are a new product in the investment market and represent a good combination of high-quality recreation and the possibility of a stable income, their price on the market can significantly increase with the effective operation of a hotel or resort complex.
In the case of poor management, the return of invested funds may slow down.