Fractional Ownership provides you with unparalleled benefits of owning a vacation home in your favorite location, but without the burden and cost of repairs and upkeep. Wouldn’t you love to have the services and amenities of a luxury villa without living out of your suit case? You’re not alone. This new breed of vacation home ownership, called “fractional ownership,” is becoming increasingly popular as individuals and families look to maximize their family vacation time. Finally, you have the ability to have the vacation home ownership you have always dreamed of for a fraction of the cost.
Fractional Ownership is a Management System around which one’s entire leisure lifestyle revolves. Unlike timeshare, which is truly a vacation product, the pre-purchasing of a week or two of vacation, Fractional Ownership is the centerpiece of a leisure lifestyle portfolio. It is an asset and part of one’s estate, when purchased as deeded real estate, and while timeshare is also mostly sold as such, the two products are used very differently.
The second home Fractional buyer has a close relationship with their home’s location. They return to that location periodically throughout the year for anywhere from three or four weeks to as many as twelve or thirteen, or maybe a month at a time. It serves not only as a vacation destination, but also as an escape weekend, a mid week hideaway, a gift to a friend or relative, a location for a business retreat, a family reunion, or any of a number of uses that one would make of a second home that is available periodically throughout the year.
Another important benefit of Fractional Ownership is that it is worry and hassle free. All properties are managed and maintained by respected third party companies when residents aren’t there. Even if one could afford two, three or more vacation homes, the upkeep and preventive maintenance would be daunting. Even managing a single vacation residence steals time from more enjoyable pursuits. Upon arrival at a Fractional vacation home, everything is setup pre-arrival and the vacation can begin.
Many Fractional Ownership enterprises operate a voluntary rental management program, returning some amount of revenue to the second homeowner, which is a much less important consideration, but, never-the-less worth mentioning.
For more information about Fractional Ownership and your desired location, contact Bold Real Estate Group today.