New way to own a vacation home - less choice: The fractional ownership of a vacation home, also called a private residence club, is a relatively new concept that allows you to enjoy homeownership benefits of 4 to 12 weeks a year in luxury and luxurious resorts, but a small part of the cost of ownership .
If you want to own an impressive second house complete with personalized service located in an expensive resort area but you can not justify expenses because you use only a few weeks or months of a year, You may appeal to you.
Amenity enrichment
Most private residence clubs offer a wide range of amenities. These include luxurious clubhouses and spas, 5-star hotel services, fully owned vacation homes, types of services that can not be expected with high-end condominiums and timeshare.
Let's imagine this: you are on vacation. Please call the staff of the house of your private residence club. According to customer's request, we arrange grocery store, cleaning costume, restaurant reservation, private splash pool heating, family favorite picture around your residence. At the airport there is a staff shuttle to your house so that Jaguar can sit in your parking space and use it in your home.
Will you get that picture? The private residence club is not an ordinary second house.
Excellent place
Fractions and residence clubs are born exclusively in high-end resort areas around the world. St. Thomas, the Virgin Islands, Puerta Vallarta, Mexico are popular places.
In the United States, the first fractal was not a problem for most people, as the main homeowned ski resort, especially Colorado estate was very expensive, the fully owned second house. Sometimes, they spread to the northeast ski resort. Since then, fractals have begun to emerge in golf-oriented communities like popular beach states like Hilton Head Island, South Carolina, Florida.
Some of the most common fractals can be found in Jupiter, FL. Aspen Highlands, Bachelor Gulch, and Aspen Snowmass, CO; Lake Tahoe, California; Whistler, British Columbia. Fractions in the United States usually have good access to major airports and easy transportation is available.
5-star company management
The key to fractal success is the professional management team. Most hotels are run by world-famous hospitality companies. Among them are brands known for five star services and amenities including Ritz-Carlton, Four Seasons, Starwood, Intra West and Millennium.
Less time-consuming ownership
Part of the fascinal charm is completely troublesome. In addition to having personalized service staff tailored to your needs, you do not have to worry about repair, maintenance, housekeeping at clubs of individual residences. Everything is included in price and annual fee, and professional management company takes care.
Possibility of appreciation
Until today, there were few partial resort developments. Demand is high. As a result, there is a high possibility that a preliminary assessment will be carried out instead of depreciation that normally occurs with time share.
Real estate experts say that the outlook for investment appraisal is excellent. You can expect at least a Thanksgiving festival with other real estate in the resort area where fractions are located.
price
To purchase a fraction, you have to pay an annual maintenance fee covering annual ownership and all expenses related to its use and service after paying a purchase price.
What is the cost of fractions? Rates vary depending on the size of individual accommodation, amenities and location. However, most people are in the range of $ 100,000 to $ 500,000. These are two to five times as expensive if they are completely purchased as fully owned vacation homes.
Comparison of fractions and timeshare
How do you compare fractions with timeshare? They really do not. Fractions are much more exclusive and include more luxury amenities and services than timeshare. They tend to be larger homes, usually 3 to 5 bedrooms. Time sharing is usually only available for 1 to 2 weeks per year. Fractions are from 2 weeks to 13 weeks, some people do not need consecutive weeks. Please choose the week that you want.
Regarding fund procurement, it is difficult to acquire loans of banks and mortgage companies on time share. Regardless of your creditworthiness, the charge is expensive. The reason is that it is well known that most time share will decline over time. On the other hand, banks and mortgage companies often consider fractals to recognize assets and treat them like any other second house purchases.
Why does fractal evaluate while time share is usually depreciated? There are several reasons. Below the decimal point, much of the buyer's dollar will shift to high-quality finishing and "brick and mortar" for sales missions as high as 40% to 50% in time share.
Furthermore, the value of timeshare is historically poor because of the large number of market resellers, and it goes without saying that the flow of new development will continue. In fact, the secondary market of timeshare has not really developed.
Conversely, there are only a limited number of minutes on the market. Most likely, the number is reduced, as fractions are built only in the most desirable, most desirable places. Therefore, demand will exceed supply and lead to appreciation of property.
Comparison of fractions and condominiums
Unlike a condominium hotel, a fraction (private residence club) is set up for the time you can spend your vacation home. Actually the condo is a condo in the hotel. You can use your unit at any time and place it in a rental program when you are not using it. Fractions do not offer rental program participation.
Fractions tend to be larger than most condo hotel units. Most condos are studio, one bedroom or two bedroom, but most fractals offer three to five bedrooms. Currently, most condos are in Miami and other surrounding cities in South Florida. Fractions are most common in the west coast, especially ski resorts. However, both types of real estate are rapidly spreading, soon there is a possibility that the supply will expand nationwide to respond to the increase in demand.
