This new club, which just launched earlier this year, has introduced another equity membership option that will give members an average of 15 to 20 days of vacation a year.
Members have equity in a collection of 12 debt-free residences for a one-time capital contribution of $150,000. Each night at the homes is assigned a credit value that varies by type of destination, property size, arrival day, and time of year. Each equity owner at this level will receive 2,500 credits per year in exchange for $16,500 in annual maintenance costs.
This complements Lifestyle Asset Groups' initial membership option, wherein for a one-time capital contribution of $300,000, each equity owner receives 5,000 credits per year in exchange for $30,000 in annual maintenance costs. This original level provides an average of 35 to 40 nights of vacation a year.
"Lifestyle Assets has added this second equity ownership option in response to what we're seeing in the luxury vacation real estate market," explained Lifestyle Asset Groups' CEO, Rich Keith. "In the three months since we launched our Collective Asset Ownership model, we've talked with numerous potential buyers who are looking for two to four weeks' of travel per year. Now, Lifestyle Assets offers two choices to better suit our potential owners' lifestyles."
Just a few weeks ago Lifestyle Assets' announced its Discovery Trip program. This allows potential equity owners to stay for up to four nights for $650 per night – which is refunded if the guest becomes an equity owner. Many other destination clubs and private residence clubs have similar discovery or trial programs which let you "try before you buy". It's well worth asking about these programs if you have narrowed your search down to just a few clubs.