|(Photo credit: nancyarora2020)|
To be truly distinctive, resort communities of the future will need to have new types of residential products, unique combinations of amenities and more diverse services and programming to attract the emerging resort consumer. The psychological impact of the financial crisis, resulting loss of wealth, and massive uncertainty have resulted in long-lasting changes in what drives the decision making process of the 2nd/vacation home buyer.2 As a result, a permanent shift has occurred in resort consumer’s attitudes away from consumerism and towards unique experiences, sustainability, wellness and relationships that simplify and improve their lives. The days where Dad spent six hours on the golf course with his buddies while Mom and kids hung around the house or at the beach are largely over. The emphasis now must be on a diverse set of lower cost, environmentally forward amenities that cater to the entire family and may also provide for managed public access.
The winners in the next generation of leisure properties will realize that standard man-made amenities such as marinas, golf courses, beach clubs and hotels can be built anywhere. They will subscribe to the belief that in order to achieve true differentiation and create lasting value over the long term that next generation resort residences and amenities must improve access, but also enhance unique, non-replicable natural amenities.
So, if you are in the market for a vacation property, don’t let deeply discounted prices mask difficult to fix project concerns such as a limited number of oversized amenities, high homeowner’s fees and expenses, poor design and construction and most importantly a lack of unique non-replicable natural amenities.
Sources:  2012 Cotton Report  2011 Fall Kelsey & Norden Resort Real Estate Survey  Fall 2011 Affluent Market Tracking Study  2012 Azul de Cortez Resort Marketing Analysis
Taken from: http://www.seeitmarket.com/resort-real-estate-investing-for-the-next-generation