Resort-style communities are a great option for people who are interested in purchasing a second home, vacation home, or investment property near a popular attraction. Read on to learn more about resort-style communities, different community types, and the benefits of purchasing a home in one.
What’s a Resort-Style Community?
A resort-style community is a type of managed community with unique amenities that’s typically near an attraction, like an ocean, lake, or ski mountain. Often, these communities are built by hotel developers that saw an opportunity or demand for residential properties. Resort-style communities are prevalent in Mexico and states like Texas, Florida, Arizona, and South Carolina.
Types of Resort-Style Communities
There are many types of resort-style communities, but the following are the most popular.
- Retirement Community
- Active Adult/55+ Community
- Master-Planned Community
- Sports and Country Club Community
- Beachfront or Lakefront Community
Why Do People Buy Homes in a Resort-Style Community?
Whether your property serves as your primary or secondary residence, buying a home that’s part of a resort-style community comes with countless benefits including:
The majority of resort-style communities are professionally managed, so if you purchase a home in a resort community, then you’ll most likely become a member of their managed association. There are many advantages to owning in a house in a managed community. You can expect access to greater amenities and resources along with additional help to protect your investment.
Because resort-style communities are near a popular attraction where people like to vacation, there are likely unique amenities to enhance that experience. Many resort-style communities have amenities that you wouldn’t typically find in a single-family or condominium community like spas, multiple pools, boutiques, bars, and restaurants. And because it’s professionally managed, you’ll have peace of mind that your management company is maintaining all community amenities.
Typical vacation resorts attract a wide variety of guests. However, resort-style managed communities often have requirements and restrictions for their residents to ensure the community consists of like-minded people with similar interests, routines, and lifestyles.
Due to their desirable location, many people are interested in renting a home in a resort-style managed community. As always, keep in mind that the rules and regulations are different for each community, so make sure to check your governing documents before renting out your property.
Learn More About Resort-Style Communities
Are you interested in purchasing a second home in a resort-style community? Check out our blog post, “The Beginner’s Guide to Purchasing a Second Home,” to learn more about the different types of second homes and tips and tricks to make the process easier.