Time Share Village
Time Share Village is a conceptual development idea from the author of Mastering Your Time Share that has evolved from looking at statistical data and pairing it with the next evolution of real estate development. Today’s time share model has become more sophisticated, offers more choices than ever before, and provides an easy and flexible way to vacation.
When the current US population is examined and the shifting age trends of Baby Boomers, Generation X and Millennials are factored in, the current move up trend as professionals hit their stride in their mid-forties is showing signs of cracking. Our old housing model of buying the starter home, moving into the larger family home, and then pulling out the remaining equity to downsize has been the hallmark of our housing model for the last 50 years.
This process helped create a constant flow of new buyers throughout the home cycle. This has traditionally helped developers identify secular housing needs along with emerging trends like more open floor plans, larger kitchens, and higher quality bathroom suites that have defined the past decade. In addition, as a small percentage of American families obtained or managed their generational wealth
in a positive manner, they sought to purchase the best vacation homes in the country in the top locations with some vacation homes now exceeding $25M dollars. A great deal of foreign ownership has
also helped support this unique vacation sector by using vacation homes as sanctuary deposits for large amounts of cash, valuing the US as one of the most stable currencies and real estate markets in the world.
In the aftermath, developers quickly saw an opportunity to create large scale time share projects to help feed the growing need for most families to own the right to vacation at a certain price, making
family vacation more affordable over time and somewhat automatic.
Welcome to what is happening as we approach 2018. Our first wave of baby boomers, now retiring at nearly 300,000 people per month started in January of 2017. This trend will continue unabated for the next 19 years. Study after study shows almost 75% of baby boomers have less than $25,000 in savings for retirement. So out of 62M boomers, about three quarters are wholly unprepared for retirement.
Most cannot afford a simple starter home. How are they going to live another 25 years? What are developers supposed sell them?
Coming up right behind them are Gen Xers, whose incomes have fallen in real terms versus that of the first dual income families of the 90’s, where in most parts of the country, both spouses had jobs as part of what was then the new normal. The new normal now is not to get married and if you do get married waiting until past thirty is now very acceptable. Current marriages across the age spectrum now record the highest rate of divorce in 50 years. In simple terms we
are replacing two income mortgage applications with just one at an alarming rate. What is this going to do for housing?
Lastly, our 92M millennials are not particularly income driven, are pushing off getting married, have different life style demands, and are 20 years away from having enough money saved for a traditional
down payment to purchase a home. Where is the fire power going to come from to support the normal housing cycle?
We believe these are major shifts away from the past housing models
and signal a need to re-define housing as we know across the board.
Let’s examine what we do have for the next 25 years:
1)45 M of the 62M Baby Boomers who need to drastically lower their cost of housing
2)81 M Generation X who have older parents and younger kids needing help
3)92 M Millennials with more single income, less earning power, different needs.
How many of us think looking at the above statistics believe the home of the future will require bigger lots, at least 6,000 square feet
of space and tons of expensive amenities? In fact the tea leaves suggest the only real luxury homes from here will be built on a one to one basis with the homeowner having taken the risk away from the developer by paying for the entire construction of the home as it breaks ground.
On the other end of the building curve we see almost three entire generations all heading in the same direction, the need to find more affordable housing at a lower cost. This is why we believe the best way to address the future is by sharing large infrastructure cost over more people and then dividing homes into fractional homes, otherwise known as today’s time shares. We are already there except the industry needs to get away from vacation homes and replace the
solution with regular homes, at least for 6-12 months at a time. This is what Time Share Village is all about. A 600 acre project that addresses the needs of Baby Boomers, Generation X, and Millennials
, all in the same development, but with vastly different products and services, all sold in a time share format, all contained within the same infrastructure footprint. We see the next wave of time shares splitting into Micro Markets that will address these needs:
1) The long term stay time share – one that can book in 3, 6, and 9 and 12 month stays
2) The Millennial Time Shares – storage, access to Uber, public transportation, urban density development with groceries, pharmacies, and Starbucks all on site.
3) The Boomer and Gen X Time Share – Slightly larger 2 and 3 bedrooms in Prime B locations to allow the developer to lower land costs and provide better price points. The focus will move toward
more home friendly amenities like remote butlers and real time video walls, shared outdoor gourmet kitchens with semi private pools.
4) The Nursing Home Time Share – A place to receive quality care using the time share model that can be passed onto families, thereby allowing the family to preserve more of their estate instead of paying it out to nursing homes. The Time Share currency will revert back to
the family when the nursing product is no longer needed. It becomes a family asset instead of today’s nursing care liability that drains families of their life time savings.
Time Share Village
A master planned community designed around themed time share products built around a golf course with each section offering different time share products and services. The Village would also include banks, restaurants, theaters, and regular grocery and pharmacy stores in addition to themed retail suited for each section. The project would provide for electric and golf cart passage, along with bus service throughout the village. Concept would involve over 4,500 dwelling units separated into four different pods for specific age and product groups. The time share currency would also allow for transfers in and out of each section as families need changed over time and ideally would provide for several locations around the world. Families could own this timeshare as an entity and divide or accrue the points as their family needs change, knowing they have vacation, retirement and assisted living/nursing care solutions already in hand well before they are needed.
If you are interested in getting information from us on Time Share Village, please fill out our registration card and we will keep you advised on our progress. Our goal is to obtain over 1M registered users, so please if you like this next generation retirement idea, please tell your friends to also register so we can make this opportunity a reality.
John C Botdorf
Time Share Village.com