What is Fractional Ownership
Owning a Vacation Home
Do you like the idea of owning a vacation home in your favorite location, but don’t want the burden and cost of repairs and upkeep? Do you love the service of a luxury hotel but dislike living out of your suitcase? You’re not alone. A new breed of vacation home ownership, called “fractional ownership,” is becoming increasingly popular with busy professionals looking to maximize their family vacation time.
Fractional developments are found in the mountain, on a golf course or by the ocean. They provide the amenities of a luxury home, such as high end kitchens, large bath rooms & roomy closets – combined with the benefits of a first-class hotel, such as concierge, housekeeping & grocery shopping services. Depending upon the design of the property, residences may be hotel suits, cabins, townhouses or detached homes.
Owners purchase a deeded share in the residence ( usually 1/4 to 1/13 ) that gives you a certain number of weeks per year at the property and use of all amenities. By only paying for the time you use, fractional ownership can be a much more cost-effective way to stay in desirable locations. Prices range widely from $40,000 to more than $1 million, depending on the location, number of weeks, number of bedrooms and level of luxury.
Fractional, But Not Timeshare
Luxury fractional differ greatly from the old-style timeshares. The primary differences are that fractional offer:
- Deeded property, with the same rights as any other real estate purchase
- Greater chance of property appreciation
- A longer amount of time on property ( from 4-13 weeks )
- A luxury level of furnishing, services and amenities
Of course, all of the above perks add up to another major difference: Price.
The cost of fractional property is quite a bit higher than of a typical timeshare, though still much less expensive than whole ownership of a luxury home.
Other Benefits From Fractional Ownership
- Owners can swap weeks
- Owners can purchase more than one fraction
- The calendar rotates to provide equal priorities
- Fractional ownership homes comes fully furnished & equipped.
* Cleaning * Grocery Shopping * Bill Processing * Schedule Repairs * Rental Program