THE SILVER LINING CHRONICLES - THE PROS AND CONS OF HOTEL CONDO LIVING

The Pros and Cons of Living in a Hotel Condo

 If you routinely get your inspiration from television, then the premise of Disney's The Suite Life (TV Series 2005-2007) may appeal to you. A few years older, and you may be a fan of Eloise, the little 6-year old star of a series of children's books (Kay Thompson, 1959); 2 made-for-television movies and an animated T.V. series.

What do they have in common? In each, the main character lives in a hotel. Who would be interested in this way of life, you ask? Retirees, investors, frequent vacationers, or busy professionals might all be possible candidates. 

When you live in a hotel condo, life is easy and, if you choose to pay for it, luxurious, as well. You have access to doormen, valet parking, room cleaning, and laundry services. You have amenities such as room service, restaurants, gyms, pools and saunas available to you.  There is security when the home is vacant and overnight guests can even rent their own rooms. Full or part-time, it can be a hassle-free residence. The hotel is responsible for repairs and routine maintenance and, at the end of the day, you'll have peace of mind.

Typically, hotel condos are on separate floors from rented hotel rooms. This will give you some space and keep noise levels to a minimum. However, if you're wondering if this option could ever be right for you, a little self-reflection is probably in order.

Do you harbor a secret desire to be marooned on a desert island? Do you dream about getting away from it all? Were you a fan of Fantasy Island (1978-1984 T.V. series taking place on a mysterious island somewhere in the Pacific Ocean)?

If you answered yes to any of the above questions, you should know that this lifestyle may not be for you.

Along with all the advantages, there are some distinct disadvantages. Hotel space may often be rented out for weddings or other events rendering it temporarily unavailable. During certain peak times of the year, the hotel may be filled to capacity. What this means in terms of everyday life are crowded amenities and long lines. You may suddenly find that there are no umbrellas or unoccupied chaise lounges at the pool, no clean towels for use at the beach, or a long wait for the next obtainable elliptical machine.

If this is likely to lead to a short fuse on your part, then another type of housing may be more suitable for you.

However, from personal experience, there is one facet of this lifestyle which appeals to me very much. Often, when you visit a condo complex, you'll see beautiful grounds, a stunning clubhouse, and enviable amenities. Only the people are missing from this landscape. The great majority of the time, there's no one using any of these facilities. The place is empty and desolate and this leaves me truly unhappy.

This is in direct contrast to what occurs at hotel condos. When people are on vacation, they make a concerted effort to make good use of the property. After all, they paid for a vacation and they're here to rest, relax and enjoy themselves. This has a positive mental effect on the full or part-time condo owners. It's invigorating, contagious and life-affirming to see people active, laughing and enjoying themselves.

If a hotel condo sounds like it may be the right option for you, then delve a little deeper into the myriad financial benefits and obligations that homeownership entails. l