GMAC Real Estate The Private Residence Club Option
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The Private Residence Club Option

Takeaways

  • Private residence clubs offer luxury, and more flexibility than timeshares.
  • They are common in Europe, but are a recent addition to the U.S. market.
  • Private residence clubs don’t lock you into certain days of use and days purchased can be broken into small units.

Did you know?

  • The first U.S. private residence club opened in 1994 at Deer Valley, Utah.
Private residence clubs offer luxury on your schedule. A timeshare doesn’t appeal to you. You like the idea of owning a vacation second home, but at the same time you don’t relish having to perform upkeep on the property, arranging for maintenance and generally staying involved in managing the real estate. If you are looking for a way to buy into a luxury getaway without the hassles of owning the property, and with far more flexibility than a timeshare offers, a private residence club might be your best option.

Private residence clubs are common in Europe, but only date back to the mid-1990s in the U.S. The clubs are built in desirable resort areas, and a 10% stake gets you 28 days a year at the club. Private Residence Club members aren’t locked into certain days of the year the way timeshare owners are, and the time purchased can be broken into small units to allow for a number of short getaways to the resort.

Flexible Luxury

Annual fees are not cheap, and tipping and housekeeping fees aren’t included in the annual fee. In return members book time in units with amenities like fireplaces in the master suite and large-screen TVs. The flexibility and service is apparent when a member calls a few days in advance to book several days of the allotted time, and arrives to a unit with groceries in the pantry and copies of requested magazines on the nightstand.

With a private residence club membership you miss out on the investment opportunities of second home ownership, but you gain flexible luxury in familiar and comfortable surroundings.

Search for Second Homes for Sale

To search for a selection of second homes for sale, please visit lifestylehomesearch.com, or visit the website of a GMAC Real Estate Office that serves the area where you'd like to buy a second home. To learn more about buying Second Homes or Vacation Homes, explore the rest of this section, or contact a GMAC Real Estate Agent.