Condos have been successful in every corner of our world. From their origination in Ancient Rome, to the fresh outbreak in the European countries during the early part of the 21st century, condos thrive almost everywhere. But the greatest success for the condo story comes from vacation and resort areas.
Why? Because condos offer everyone, the wealthy as well as the middle-class, an affordable, comfortable, and beautiful vacation spot; year after year, and it’s guaranteed.
From the developer’s standpoint, anytime a building can be constructed and sold at a very nice profit, it is a success. From the real estate agent’s viewpoint, more property means more business. And from the vacationer’s viewpoint, sometimes a condo just adds that something special, which a motel room cannot.
Well, not exactly. But when you examine all the contributing factors that make or break a wonderful vacation, where you stay, the amenities provided, and the expense, play a huge role. Condos afford the vacationer all the amenities of home, a kitchen, living room, bedrooms, and usually double bath. They also provide many vacationers with a guaranteed place to stay. Quite often, people vacation in the same place, year after year. Condo time shares and the unit ownership can guarantee families a comfortable, large area for vacationing.
Many of the condos that are built are developed and built by professionals in that area. Their experience and expertise often combine to give them added leverage when it comes to desirable location. Quite often, the luxury condo is built with the same beachfront view that the luxury hotels are, for half the price.
There’s also the added feature that if you are a unit owner, and there is a mortgage attached to your property, the mortgage interest is tax deductible. Now, not only do you have a wonderful place to vacation, you’ve managed to add a tax deduction onto your tax return. Not many pleasures in life afford the recipient with a wonderful experience and a tax deduction.
These features combined with the fact that they’re located in resort and vacation locations, makes them very attractive to the consumer.
John Williams writes about vacation condos from his home.