Fractional Ownership: Own a Cottage or Vacation Home for a Fraction of the Price
Blog by Susan Brown | June 14th, 2017
Fractional ownership is becoming more and more common in top vacation and cottaging locales in Canada and the US, and it’s not hard to see why. Fractional ownership can be the perfect option for a couple or family that knows they will only spend a few weeks a year at their vacation property, and who wants to avoid the extra cost and effort required to keep up the building and grounds.
So what is fractional ownership? Simply put, it means owning a part of a property in an arrangement where owners have usage rights at certain times. Each owner picks several weeks each year when they will have exclusive rights to the property and all amenities. Most fractional ownership properties are furnished, with storage options often available for owners to store personal belongings when they’re not at the property. Many fractional ownership properties are also part of a resort or larger complex with amenities like golf courses, docks, boathouses, tennis courts and other recreational opportunities available exclusively to the owners.
The benefits of fractional ownership include much lower purchase prices than owning an entire property, and typically little or no maintenance requirements. Usually owners pay annual fees for property management, upkeep and any amenities. In many fractional ownership arrangements, the owner is free to sell their piece of the property at any time, or will it to family or friends, just like a regular property.
If you think fractional ownership might make sense for you, I have a terrific opportunity available right now. Consider purchasing a fractional ownership in The Landscapes – Lake of Bays, and own part of a fully and luxuriously furnished and equipped three-bedroom cottage reserved for you 5 weeks each year. Contact me for more details.