Vacation Home Ownership Sees Fractional Home Ownership Choices Rise

A lot of people are seeking more options for owning a vacation home. Fractional home ownership provides a somewhat new concept that is a cross between sole ownership and timeshares. The middle ground allows owners to own a deeded share in a vacation home.

Fractional home ownership is similar to timeshares, but its differences make them standout. In a timeshare, the owner is purchasing a block of time that can be used annually at the resort. This block of time, generally 2 weeks, can be traded with other timeshare owners for vacationing at other resorts inside the group.

In fractional home ownership, homes are divided into deeded shares that can be brought and sold through real estate agents. The homes are divided into 2 to- shares. In other words you have to 1/13 ownership in the home.

If you buy a 1/13 share in a fractional home, you are buying 1 week a season, 4 times a year. The most popular fractional ownership shares are 1/4. Under a ownership, the buyer gets to use the property 1 week a month during the year.

Many fractional ownership homes are located in private communities with 24 hour security patrol services. Many also have private amenities like pools, spas, docks, etc. Some fractional ownership condos and town homes share amenities with other owners in the building.

Fractional ownership homes will have a homeowners association formed. The owners then pay HOA fees to a property management firm that is contracted to ensure the property is cared for and things like the utilities, insurance, taxes and maintenance are paid.

Many owners of fractional homes say that they choose this route as a means of owning a vacation property that they did not have to care for. They remained in an ownership position in a property that continues to appreciate.

In Closing

So when considering purchasing a vacation home, consider the benefits of buying a fractional home. It may be just what you have been looking for in a vacation home.

Article Source: TravelFreeGuides.com

About the Author

Hubert Miles is the founder of Waterfront Houses USA, an online marketing service that provides Lake Home in the US and Canada. Find Virginia Lake Homes For Sale.

by: Hubert Miles

Total views: 10 Word Count: 342 Date: Mon, 7 Dec 2009 Time: 6:51 AM - 0 comments

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