You might have considered owning a vacation home in your favorite location. A magical place where you can unwind, have fun, share special moments, and make unforgettable memories with loved ones.
Are you also drawn to the idea of pride of ownership, but are unable to justify the high purchase price as well as the annual cost of full ownership?
This article will provide information on fractional ownership and tips for how to get the luxury vacation home of your dreams.
Fractional Ownership Fractional real estate ownership –
This is the method by which you can purchase an ownership interest in property with others to share the cost. This modern way of buying property should not be confused by the old-fashioned timeshare, where consumers purchase weeks of time to use a condo or vacation home.
Fractional property refers to real estate deeded asset that can be sold, transferred in a trust, gifted, or inherited. It could be a wise investment to purchase luxury vacation property. However, the dream of owning a second home could be beyond some people’s buying power.This is why fractional ownership or co-ownership real property comes into play. This not only boosts your buying power but can also help you maintain and increase the value of your assets.
Professional management companies can take care of all aspects of maintenance and security; essentially making your second home ownership more attainable and hassle-free. This is the modern, savvy way to buy and own a luxury vacation/ second home.
You Can Co-Own A Luxury Vacation Home Starting At ⅛ The Price:
Co-ownership of property is when there are multiple owners of the same property. In this, all owners have the same title, at the same time in the same deed. The difference lies in the percentage of ownership or their share. This is directly proportional to the percentage of investment. This means that all owners have equal rights to use the home but can only sell their proportion/share in the house’s total price.
Fractional Ownership (co-ownership) vs. Timeshare
The following question is often asked of us. Is the residence a timeshare? The answer is no! Your fractional ownership, which is when you buy a share of a property, is a real estate asset that is shared with eight people or less.
Homes are specifically designed for co-ownership. Owners have exclusive access. Timeshares, on the other hand, allowowners to rent the right for a set amount of time in a hotel or condo that is shared with dozens of other people. Due to the imbalance in supply and demand, these units can be difficult to sell. Before purchasing a luxury vacation home, it is important to choose the company carefully. A company should offer a range of properties in different locations. You also want to choose a company that has a vested interest in the success of the property.
Who We Are
Luxe Vacation Homes: We are a forward-thinking, full-service real estate company that focuses exclusively on luxury residential co-ownership homes located in world-class destinations. We understand how important it is for you to be satisfied with your expectations (or better yet – have expectations exceeded). Be assured that the home will be of exceptional quality and the location will be spectacular!
How Do We Achieve This?
At Luxe Vacation Homes, we are able to offer you a curated collection of the finest homes in some of the most coveted locations through our affiliation and alliances with global industry leaders like Pacaso. Whether it is a mansion by the beach, a winery, or a ski destination; there are many options available. We are here to help guide you through the process in finding your luxury vacation dream home, in your dream destination.
A few noteworthy features of Pacso’s luxury homes are; breathtaking views, expert interior designs, high-end furnishings and state-of-the art appliances, desirable for modern convenience and comfort.
Currently homes are available in more than 40 world-class destinations, with a focus on communities where the entry cost can be prohibitive. They include Lake Tahoe, California; Aspen, Colorado; Park City, Utah; Maui, Hawaii; and growing.
You can browse featured homes online, walk through any home virtually, or visit properties in person.