These aren’t properties that you will want to use as a full-time residence. Financially it wouldn’t make any sense at all. You’re better buying a traditional high-rise. HOA amounts will vary greatly from building to building.
It really depends on your financial situation. I’ve met wealthy Arabs living full time in luxury hotel residence units that they own, free and clear, in St. Regis Residences and Armani Hotel Residences in Dubai. The monthly HOA fees are very high but they can easily afford them.
Does the Waldorf Astoria residences allow you to rent them out through the hotel? I would have thought that the Residences exclusively was a huge selling point.
Glad the new video elaborates on details of this video
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The Palms have dropped prices significantly. I see the HOA has increased recently
That's why I heard prices were dropping. Owners couldn't take the HOA fees anymore.
Most high rises need anywhere from 25 to 30% down to purchase. How can I obtain a condo hotel in the 250k 300K range with 20K to 30k cash down?
what are HOA amounts for full time stay with a purchase? are hotel gym, pool and other goodies included in HOA fee?
These aren’t properties that you will want to use as a full-time residence. Financially it wouldn’t make any sense at all. You’re better buying a traditional high-rise. HOA amounts will vary greatly from building to building.
At Trump tower, 1bed apt has a HOA fee of 1100-1200$ a month everything included.
It really depends on your financial situation. I’ve met wealthy Arabs living full time in luxury hotel residence units that they own, free and clear, in St. Regis Residences and Armani Hotel Residences in Dubai. The monthly HOA fees are very high but they can easily afford them.
Does the Waldorf Astoria residences allow you to rent them out through the hotel? I would have thought that the Residences exclusively was a huge selling point.
Hi! No the Waldorf does not rent out residences through the hotel. The residences have a 6 month minimum lease term.
what if you don't want to rent out the condo hotel
It’d make more sense to buy a traditional high-rise if you’re not going to use it for rental income.