Tag Archives: Garden City Oceanfront Condos

Condo or Condotel – What is the Difference?

Condo

Condo

The word condotel is relatively new to the real estate vocabulary, but it is an important term for buyers to understand if they are interested in purchasing a condo in a resort location. High rise condos overlooking beautiful stretches of coastal shoreline have long been a favorite type of real estate for second homes, vacation getaways, real estate investments, and for those who are looking for a new type of well located, low maintenance, luxury home. The introduction of condotels has created a new dimension to the typical condo that will be explained in this article.

What is a Condotel?

To begin with, we need to understand what a condotel is and how it differs from a standard condo. Sometimes referred to as condo hotels or hotel-condos, this popular new type of real estate consists of high rise condos that are operated and managed as luxury hotels. This means that the condo units are individually owned, but branded together as a Westin, Ritz-Carlton, or other luxury hotel chain.

The typical luxury high rise condominium lacks this same luxury hotel branding and marketing, which sets a condotel apart from standard condos. The hotel works as the management company for the building, scheduling short term or long term stays around the times that you are occupying your condo. In addition, you get all of the luxuries of a world class hotel at home. Room service, gym and spa facilities, and a friendly staff to help answer your questions are just a few of the added perks that are missing from most traditional condo towers.

Advantages of a Condotel Over Condo Ownership

There are many reasons why condo hotels have become so popular over the last few years, especially when compared to a typical condo purchase.

Headache Free Investment Property or Second Home

When it comes to furnishing, maintaining, or renting out your hotel condominium, you are free from the decision making process. The hotel management company maintains the condo as they would any hotel room in one of their prestigious locations. This means that design and décor is kept similar from condo to condo, and the day to day running of the hotel takes the burden of making sure your property is well maintained out of your hands, while ensuring rental income when you are not using the property yourself.

Tax Advantages

Condo-hotel ownership that is not used as a primary residence can have an accelerated depreciation schedule that reduces the 39 year period to 27.5 years, 15, and even as little as 5 years. This accelerated depreciation means significant tax bill reductions in the years it is used. Your accountant will be able to explain how this can be helpful when applied to your specific financial situation and tax expectations.

Disadvantages of a Condotel

There are a few differences potential condotel owners need to know about before they decide to make their purchase. To begin with, many people prefer to add their own personal touches to their second homes and vacation properties. This isn’t possible with a condo hotel because the décor is mandated by the hotel to ensure that rooms are similar in look and amenities across the entire complex. In addition, those owners who would like to spend time in their condotel must make reservations weeks ahead of time for their own properties because the hotel service may book the room far in advance.

Now that you have a better understanding of what condotel means and how they differ from an average condo, you can make the decision as to what type of real estate will work best for you.

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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Natural Cork Flooring

Flooring

Natural Flooring

With the myriad of flooring types available, shoppers tend to lean toward those that are most popular at the time. Unfortunately, this practice can cause a consumer to miss out on some great flooring options.

One of these hidden gems is cork flooring. Imagine a floor covering that is attractive, comfortable, environmentally friendly, durable and affordable. When most people think of cork, they think of a wine bottle or a cork board, and due to this lack of consumer awareness, this product is commonly overlooked. In order to appreciate this material, you really need to understand its unique characteristics.

Origin

Cork is actually the bark of the cork oak tree found in the Mediterranean. Portugal is the largest supplier with over 30% of the world’s cork trees and 70% of the world’s cork production. Every nine years the bark is harvested by hand with the average tree yielding about 4,000 corks.

The bark is honeycomb in nature, containing 90% air that can be compressed to 40% and then quickly returning to its original shape. This feature creates a natural shock absorber.

Benefits

Due to its air like composition, walking on cork is like walking on air. Its comfortable walking surface is perfect for kitchens where you are standing for lengthy periods of time.

Cork has a natural beauty with a rich, varying grain, similar to wood. It also comes in many different patterns and tile sizes from various manufacturers.

The same feature that makes the floor comfortable creates a natural noise reducer. It’s extremely quiet to walk on and reduces the impact if an object is dropped on its surface. It’s insulating effect make cork a great choice in a bathroom over radiant floor heating or even installed over cold concrete floors.

Cork is an environmentally friendly product in many ways. Since the bark from the tree grows back nine years after harvest, it’s a reusable and sustainable product. It also contains suberin, a substance that is resistant to insects, mold and protects cork from rotting when exposed to moisture. Suberin is naturally fire resistant and cork doesn’t release any toxic gases when it burns.

The durability of cork makes it a perfect choice for virtually any room in the house, including those high traffic areas. It has been successfully used in churches and other public buildings since 1898.

Disadvantages

Due to its resilience, heavy furniture can dent the flooring, so it’s important to use castors or furniture pads under table legs. Just as with wood, an excess of water can damage the finish. It shouldn’t be used where you have problems with moisture or flooding.

Costs

The cost of cork flooring compares to high-end laminate or hardwood and runs approximately $4 to 6$ per square foot.

Maintenance

Cork floors are extremely easy to maintain with regular sweeping or vacuuming. Damp mop the floor monthly with a mild detergent and very little water and avoid using abrasive or ammonia-based cleaning products.

The flooring requires up to five coats of urethane sealer, which will last several years. A dulling floor can be refreshed with another coat.

Visit Land on Water Realty, your one-stop resource for Myrtle Beach real estate Have all your questions answered by Preston Guyton, a professional Myrtle Beach Realtor

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Atlantic Luxury Homes

Luxurious House

Luxurious House

The moniker “Atlantic Luxury Homes” likely conjures up images of crashing waves and majestic beach homes perched atop sand dunes overlooking miles of pristine beach. This image was likely birthed by pictures of Myrtle Beach in South Carolina. This scenic destination resort town is one of the most dramatically beautiful spot on the east coast and is home to a real estate market that showcases a variety of new construction and older historic homes. Of the new construction properties, perhaps the most popular home choices are the fantastic condo developments that line the coast.

Recent years have seen the evolution of Myrtle Beach into one of the most popular destinations on the east coast. This has resulted in the creation of a thriving investment atmosphere with vacation rentals forming a solid backbone for the real estate industry. This takes nothing away from a historically active and stable residential core that also has created a secure and thriving business sector. It could be said that Myrtle Beach possesses “the full package” when considering a location for a new home or investment property.

Is it time to treat yourself to that dream home that you deserve? There is really no better place to look than Myrtle Beach. This area can boast excellent choice for entertainment and recreation. Of course the ocean provides any number of sporting options as well as great fishing and and the most breathtaking scenery available. There are really any number of reasons to consider a move to Myrtle Beach, but then again, you likely already have your own reasons….

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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