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“I just received our Spring 2008 edition of Trips & Getaways and it looks beautiful! The article that you put together for Kent County, Delaware is wonderful. Your publication is truly impressive and so valuable to destinations in the Mid-Atlantic.”
by Aubrey Manzo - Southern Delaware Tourism, tourism marketing manager


Fractional vacation home ownership makes Americans Bermuda bound

By Linda Blachly

 

Who knew that the beautiful pink sand beaches of Bermuda could be considered a Mid-Atlantic getaway? 

Many people think Bermuda is in the Caribbean and equate it with the Bahamas. Actually, Bermuda is located in the Atlantic Ocean with the same turquoise-colored water and subtropical temperatures. It has a highly affluent economy and a low crime rate.

 

Bermuda, located 650 miles off the coast of North Carolina, is easily accessible to visitors in the Baltimore-Washington region via airplane and — now with the Port of Baltimore offering more cruises — is fast becoming a popular destination for Mid-Atlantic travelers. 

 

Americans who have discovered Bermuda over the years have tried to keep the island getaway a well-kept secret. It has a high rate of repeat visitors. 

 

The secret is out: Today visitors to the island will find a beautiful and accessible destination. A short flight from the East Coast transports you to another world, one washed by turquoise seas and wrapped in pink-sand beaches. From the balmy climate to the British culture and sherbet-hued houses, the 21-square-mile island exudes a romantic charm far out of proportion to its size. White-washed rooftops reflect the sun and catch the rain for drinking water for its residents.

 

Fresh ocean breezes warm the island year round but note that Bermuda does have an “in-season” from April through November. The winter season has temperatures in the 50s and 60s, a bit chillier than tropical destinations but still a welcome relief from the icy winters of the East Coast.

 

Bermuda’s many beaches lie along its coastline like a string of rosy coral beads. Wherever you stay, the ocean is never more than a mile away.

 

Bermuda is a British Overseas Territory with a high degree of internal self-government. The official head of state is the Queen, who appoints a governor to represent her in Bermuda.

 

The Reefs Club

Located in Southampton, The Reefs Club sits atop limestone cliffs and has a breathtaking view of the ocean. The popular, award-winning hotel has attracted many repeat visitors and generations of families over its 60-year history. Couples who honeymooned or were married on the property are now seeing their children doing the same. 

Picture yourself sitting on the patio sipping a drink or in the infinity pool overlooking the beautiful turquoise-colored water and private pink beach, and you will easily see why these families keep coming back.

Thirty-five years ago, Reefs Club president David Dodwell fell in love with the resort. He’s one of the reasons the popular club enjoys so many repeat visitors. He adds a personal touch for his guests, takes customer satisfaction seriously, and can often be seen in the dining room shaking hands and talking with guests. 

 

Fractional ownership

Five hundred years ago, the Spanish navigator Juan de Bermudez discovered Bermuda. Its treacherous reefs led the Spanish to name Bermuda “The Isle of Devils.” A storm in June 1609 shipwrecked the Sea Venture on the reefs while it was on its way from Plymouth, Mass., to Jamestown, Va., to deliver supplies. Survivors’ tales of beauty lured settlers to call the island home. 

Today, the only people who can call the island home are natives. Bermuda’s government strictly limits the sale of homes to foreigners; however, there is a new concept in home ownership called fractional ownership that now allows Americans to own a piece of the popular island. Fractional ownership gives owners deeded real estate that can be sold, willed or placed in a trust like any other form of real estate.

 “Right now there’s an incredibly limited supply of very expensive, full-ownership real estate in Bermuda,” explains Buddy Rego of Rego Sotheby’s International Realty. “And these island homes cost on average $1,000 per square foot. So a 3,000 square-foot home sells for around $3 million. As a result, luxury residence club homes, which sell at a fraction of the cost, are becoming increasingly popular. They are being bought by people who want to enjoy Bermuda resort living, but don’t want the multi-million dollar price tag.”   

Adjacent to the hotel, The Reefs Club has just completed vacation home units made available through fractional ownership. There will be 19 units in all.

These units are fully furnished two- and three-bedroom residences with unobstructed ocean views seen through dramatic walls of windows. Homes are just steps away from the hotel’s three gourmet restaurants, a new spa, a secluded pink sand beach, and world-class diving and snorkeling. Amenities include an owner’s lounge, infinity-edge pool, fitness center and rooftop putting green with impressive views of the Atlantic. An onsite concierge coordinates dinner reservations, golf tee times, onsite spa appointments and other island adventures. Each offers one-tenth, deeded ownership. Two bedrooms are priced to sell at $350,000 and three-bedrooms are $410,000. 

The Reefs Club is a member of The Elite AllianceSM, an exchange program offering owners luxury beach, ski and golf vacations at other Equity Residence ClubsSM around the world. Members may use their residences as often as they wish, subject to availability. Residence club ownership is ideal for those wishing to spend several weeks per year at their home but don’t want the hassles and expenses of maintenance, security, taxes and insurance costs associated with whole ownership properties.

“Given the number of repeat visitors who have been fiercely loyal to The Reefs over the hotel’s long history, we wanted to create an opportunity for them — and other Bermuda enthusiasts — to own a piece of this special property,” explains Dodwell. 

And what a beautiful place to call home.

For information, visit www.ReefsClub.com.

For information on Bermuda, visit www.bermudatourism.com

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