Friday, September 03, 2010
   
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The Guide to Shared Luxury Property

Selecting a Destination Club

Choosing a destination club can be a daunting task. How do you know which one is best for you and your family? By following these simple guidelines our hope is that you will find the perfect club for your needs.

THE FIRST STEP: Look at your family’s vacation patterns

Naples Pool from Cassita
  • Do you like to visit new places? Are you drawn to the beach, mountains, national parks or ski resorts, etc.? Are there certain areas or cities that you love to visit? You can automatically narrow down your options by looking only at the clubs that have homes in the places you want to be. Use our directory to find destination club homes in your favorite locations.
  • What activities are you drawn to? Are you a golfer? Look for clubs with golf course locations. If you enjoy skiing, make sure the club has plenty of ski resort options. Or if you enjoy the open waters, look for a club that offers yachts or sail boats as a destination choice.
  • What properties attract you? Some clubs offer a mix of standalone homes and mini luxury resorts while others specialize in one or the other. Also, be sure to enquire about the size of the homes. If you have a large family or like to travel with friends, you should make sure the homes will accommodate larger parties.
  • How often can you get away? A 60- to 90-day membership can be enticing, but is your family really able to travel that much? Most American families typically use 2 to 4 vacation weeks a year and maybe some long weekends. If you are able to get away more often, great, but don’t buy into a plan that you aren’t going to use. You can always add more days later.
  • What are your holiday plans? Do you like to get away for the major holidays? Make sure the club and membership level you choose has holiday weeks available. Keep in mind that the membership price tends to increase if you want to book several holiday periods in advance.

THE SECOND STEP:  Figure out your budget

  • How much are you willing to pay? Club membership rates range from a few thousand to nearly $1 million. Remember the initial fee doesn’t always speak for itself, each club offers a gamut of services and amenities. You should also keep the annual dues in mind when assessing your budget.
  • How is your investment going to work for you?
    What is the refund policy if you later decide to resign your membership? Many clubs offer 75% to 80% back on the initial fee, others offer more.
    Find out if your membership fee gives you equity in the club or its properties or not.  This can make the club an investment as well as a great vacation option. But, even in an equity club, your prime return on investment will be your vacation memories and the financial investment returns should not drive your decision.

THE THIRD STEP: Do a little research

  • Is the club expanding? Find out how long have they been in business and if they are steadily growing. If the club is growing rapidly they will have lots of homes and locations, but you will be part of a much bigger entity.  If they are growing slowly it may be a while before they add many new homes but you may enjoy the smaller more intimate approach.
  • Talk to members of the club to see how their experience has been. Ask if it is easy to make reservations and if properties are readily available. Ask about the quality of service the club provides and if members have had positive experiences overall.
  • Check out the many resources on Sherpareport.
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