Most of the world's truly special vacation spots - such as the Oregon Coastline - are few and far between. With an ever increasing population and no chance of "growing" any more scenic spots, the ability to enjoy these places is the privilege of far too few of us. That's why we love the idea of fractional ownership: it allows a larger segment of the population to experience and enjoy these special places.
Shared ownership, sometimes called fractional ownership, is one of the fastest growing segments of real estate today. From a financial perspective, fractional ownership just makes sense. In fact, we believe it's the way vacation real estate will be owned in the future. And we're not alone in this belief. Last year, total sales volume for the fractional vacation ownership industry was over $2.1 billion. That's a 74% increase in sales between 2004 and 2006.
Fractional ownership is becoming more attractive to both real estate agents and consumers because it allows consumers to get into a much larger or higher quality property, in a better location, with more amenities than they could through sole-ownership, while also getting rid of the day-to-day management hassles. In a nutshell: Fractional vacation ownership dramatically cuts the costs - and the hassles - of owning a second home.
And yet the basics of fractional real estate ownership are the same as owning a home outright. In both cases:
- You own a "fee simple" deeded interest in the real estate, unlike a time share.
- As the property appreciates over time, you recognize the increased value.
- The home can be financed with a mortgage.
- The home can be passed down to your kids.
- The home can be sold by any local realtor on the secondary market.
- It's a place where your family's memories can be made.
So what's the difference between fractional and single ownership? It's all about the details. The average owner of a second home only spends an average of 30 days a year there, even though they own it outright. Fractional ownership gives you the value, equity, tax savings and aesthetic benefits of a second home without the expense of feeding it while it sits vacant.
What does this mean for you? The many benefits of shared ownership far outweigh the usual risks and burdens of owning a second home in desired destinations. Simply put, it is ownership in a single piece of real estate by several individuals, companies, or families. It can be sold, rented, willed, and used like any other second home, except each owner is only responsible for their share of the upkeep, maintenance, and purchase price. This allows the owner to buy exactly what fits their needs.
Perhaps the best benefit is to give your family a retreat away from the everyday, a sanctuary to call your own where everyone can reconnect with family, nature, and romance.
Fractional Homeownership can be the perfect solution for you! If you'd like to learn more about the opportunities open to you for fractional homeownership, don't hesitate to contact us directly, as we'd love to discuss it with you! Also to view more fractional homeownership opportunities along the Oregon coast and elsewhere, visit IFLSOnline.com
We apolgozize, but there are currently no Fractional Ownership listings available at this time. Be sure to check back often as we're constantly updating our database of available listings. Or Contact Us today to learn more about Fractional Ownership on the Oregon Coast.
