Do you like to take luxury vacations?
Would like to own a luxury vacation home?
Has your dream to own a piece of paradise been knocked sideways along with your stock portfolio?
It may still be a reality for you! How? Fractional real estate ownership!
First and foremost it is important to understand that Fractional Real Estate is deeded ownership of real estate – It is NOT TIME SHARE.
In the past there have generally been 3 options when it came to having a vacation property you could:
- Rent someone else’s vacation property every time you want to go on vacation
- Time share – where you have bought the right to use a specific amount of time, usually a condo (and not usually the same unit/property)
- You bought a vacation home of your own, spending a substantial amount of money (either in full or having to get a mortgage).
- Statistics show that on average, most people only use their vacation home 10% of the time (the rest of the time it sits empty or they have to worry about renting it out). Regardless of the amount of time that you use it you are still responsible for 100% of the taxes, maintenance expenses & the other costs associated with owning a home – vacation or otherwise.
and now there is a fourth option - Fractional Real Estate.
From the Caribbean to Muskoka, Europe, Africa and beyond Fractional Real Estate is the key for many people to be able to enjoy a luxurious lifestyle at a fraction of the cost. Simply put, you buy only what you will use and pay only a portion of the annual costs! It’s like the local Pizza store at lunch – you buy only the number of slices of pizza you plan to eat!!
Fractional real estate ownership can make it possible for many people to ’have it all’ - they can buy a fraction of the Ski Chalet in Colorado, the mansion backing onto a prestigious golf course, the beach villa in the Bahamas and the town home in London England!
Exchange Program – An additional benefit of Fractional ownership is the option to join an exchange program where an owner can exchange their luxury property for a similar property around the world … how cool would it be to exchange your property with a comparable home in Kruger National Park in South Africa, a villa in the vineyards of Italy, or perhaps time on a yacht or a plane?
Many of the exchange programs offer additional services to their members e.g. year round 24/7 Concierge service, discounts on property rentals, etc.
The financial outlay for fractional real estate is reasonable compared to ‘whole’ ownership. When you buy your fraction you are investing in a piece of real estate – you own it – you can use it, exchange it, will it to your family, put it in a trust, rent it out, sell it – it’s yours! You pay only a portion of the annual expenses of the propertyand the rest of the money, which you would usually have had to spend buying & maintaining a ‘whole’ vacation property, stays in your bank account!
To view some Fractional Real Estate Opportunites
Want to spend more time in your vacation location? In most locations it is possible to buy more than one fraction in a particular home (subject to availability & the rules of the country & development).
Some developments sell their ‘fractions’ as a number of weeks; others sell specific months; this varies depending on the country and location of the property.
Baby boomers are seeing the wisdom and advantages of Fractional Ownership. With an estimated 130 million expected to retire in the next 18 months it is anticipated that the demand for Fractional Real Estate ownership will grow rapidly in the very near future.
For more information on Fractional & International real estate purchases contact Sue by e-mail or give her a call through her office at 905-338-9000 or directly 1-800-209-3214.
