Canadian Rockies Resorts Club Membership & 2nd Home Ownership Cost Comparisons
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| Cost Per Day Comparison (30 day) |
Resorts Club |
Home Ownership |
| Purchase Price |
$275,000 |
$2,500,000 |
| Furnishings |
$0 |
$250,000 |
| Cash Due at Closing/Occupancy |
$275,000 |
$2,750,000 |
| |
|
|
| OPERATING COST ASSUMPTIONS |
|
|
| Annual Membership Dues |
$18,000 |
$0 |
| Utilities / Taxes / Operating Costs |
$0 |
$37,000 |
| Furniture Reserves (10%/year) |
$0 |
$25,000 |
| Capital Reserves (property maintenance .5% of home capital cost) |
|
$12,500 |
| Total Annual Operating Costs |
$18,000 |
$75,000 |
| |
|
|
| ANNUAL DAYS USAGE (Average) |
30 |
30 |
| |
|
|
| COST OF OWNERSHIP PER DAY/USAGE |
$600 |
$2,500 |
| Cost Comparison after 10 years |
Resorts Club |
Home Ownership |
| Purchase Price (exclude furnishings) |
$275,000 |
$2,500,000 |
| Our Resort Club Membership Transfer Fee upon termination |
$55,000 |
$0 |
| Appreciation on Real Estate (Pre-tax estimated at 5% per year) |
$0 |
$1,572,237 |
| Estimated Sales Price with appreciation |
$0 |
$4,322,237 |
| Real Estate Brokerage Fees (est 5%) |
$0 |
$216,112 |
| PROCEEDS FROM SALE AT TERMS END |
$220,000 |
$4,106,125 |
| |
|
|
| Less Original Investment |
-$275,000 |
-$2,750,000 |
| Adjusted Gain / Loss after Sale or Termination of Resort Club Membership |
-$55,000 |
-$1,356,125 |
| Annual Dues over 10 years |
$180,000 |
$0 |
| Annual Operating Costs (Includes Tax, Capital Reserves) over 10 years |
$0 |
$750,000 |
| Opportunity Cost of Investing Difference over 10 years at 8% |
$0 |
$2,868,339 |
| TOTAL COST OF OWNERSHIP |
$205,000 |
$2,262,214 |
| |
|
|
| COST PER NIGHT AFTER 10 YEARS |
$600 |
$7,540 |
