Fractional Ownership is the most economical way to purchase a vacation home.
Simply fractional ownership is partial ownership of a property. This type of ownership is becoming extremely popular with vacation properties and resorts.
To understand fractional ownership, consider that you want to purchase a large, luxurious and expensive oceanfront condo.but that you feel it may be difficult to purchase and maintain on your own. Instead of becoming the sole owner of the condo, you purchase only a share(s) of it. Thus your purchase price is low and you have other fractional owners to share in the cost of maintenance and taxes.
Check out this opportunity to own 4 weeks per year at N. Myrtle Beach in a 3 BR ocean front condo for only $19.000 in this well established partnership. This unit is in the Dunescape Condo's located in Crescent Beach. See Visual tour here!
Check out a one page flyer here!
DO NOT CONFUSE FRACTIONAL OWNERSHIP WITH TIMESHARE!
Often, people confuse fractional ownership with timeshare. Both fractional ownership and timeshare are common with vacation and resort type properties. With a timeshare, you are purchasing a specific amount of time to spend at the property, such as 1 or 2 weeks a year. With timeshare you do not actually own any tangible asset – only time. With fractional ownership, you own the portion of the property you purchase.
Fractional is growing in popularity and desirability because if offers an easy way to own vacation property. With this type of ownership, you have a place to go and enjoy a luxury vacation home, yet are freed from being solely responsible for the property and related expenses
Why did our family purchase a fractional ownership over 25 years ago?
Concept works as Magnet to attract your Children and Grandchildren to join you. Create a family legacy of quality vacation time each year together.
Great looking properties, professionally decorated.
Small investment / great benefits
Fair Usage. Trade if conflicts.
Low ongoing Operating Costs
One owner will serve as Manager
Clean yourself or use low cost service
Co-Owners are compatible and become friends.
No Smoking + No Pets.
Ownership has no end, unless you decide to sell
Over the past, resort property values have appreciated greater than residential
If you decide to sell, you establish the price
Here is another Fractional Ownership Opportunity in Ocean Reef Resort in Myrtle Beach offering 4 bedrooms, direct ocean front with a 1/13th interest. Click here for the details. Click here for a flyer.
Fractional Home Ownership
The Wave of the Future - Because it Makes Financial Sense
Benefits of Fractional Ownership
Fractional ownership has been around for quite some time, but it might be a relatively new term to many people. Popular in many resort destinations across the country and with an increased awareness overseas, fractional ownership is a middle-ground solution to second-home ownership. It falls between whole ownership, where the individual owner has sole responsibility and exclusive use of the property, and time sharing, where more often than not you purchase vacation time in a resort and not the real estate itself. While time shares tend to lose their value quickly, fractionals follow the market trend of appreciation with the property values around them.
How does it work?
Fractional ownership is "the division of any asset into portions or shares." If the asset is real estate, for example, the deed can be legally divided among multiple owners. Like any other real estate, these assets are taxable, represent equity and offer ownership benefits such as interest deductions, depreciation and rental income. The major benefit, of course, is that costs are shared among multiple owners.
Different developments and properties have a variety of options. Fractional ownerships can vary from a one-thirteenth, where owners use the property for up to four weeks a year, to the most popular, quarter ownership, where they use the property 13 weeks a year. Usage is more often then not laid out in a set schedule that rotates each year so owners are assigned different times, holidays and seasons.
The primary reason fractional ownerships are popular among buyers, even those who could afford to purchase a whole-ownership property, is that the expense, responsibility and maintenance of ownership is reduced. The average family takes 21 to 28 days of vacation per year, so your vacation home will not be sitting around unused for 48 weeks out of the year as it would if you owned the property outright. At the same time, you have a fee simple estate interest in real estate, so you can pass the deed down to family members or resell it through a broker.