Insiders Secret to Successful Second Home Ownership
Hemispheres Magazine - June 2008 - 06/01/2008
Fractional ownership is the fastest growing segment of the luxury vacation home industry. Purchasing a deeded share of a vacation home is, quite simply, the most sensible way to own a second home while foregoing the maintenance responsibilities and intense capital requirements of whole ownership. Luxury shared residences are especially desirable now as the attractive price points (oftentimes less than a typical down payment) make for an easy decision in a weaker real estate market. Conversely, in a booming real estate market, shared ownership emerges as a premium choice by reducing the trepidation of buying at a market's "peak". The secret to successful second home ownership, regardless of the real estate climate, is fractional ownership.
Resort Equities, a boutique, shared ownership organization based in the San Francisco Bay Area, is one of the leaders in this emerging market. With a portfolio of properties in sought-after destinations such as Maui, San Francisco, Tuscany and Lake Tahoe, Resort Equities embodies the finest of fractional offerings. The highlights of which include exclusive properties, meticulous maintenance and high-touch service. Each reservation is booked by an Owners Liaison; each experience is managed by a proficient, local team; each vacation is a memorable, effortless retreat.
Recent press points to shared ownership as an emerging and ideal second home ownership choice:
According to the San Francisco Chronicle "… fractional ownership is often an alternative to a second home, but it also can be an addition to a second home. You see people who have a pied-a-terre in San Francisco, a cabin in Tahoe; they're looking for ways to supplement their vacation travel. Fractional presents an alternative. Rather than own a whole unit, make smarter use of your money: buy a fraction."
And, the New York Times illustrates, "Many buyers purchase fractionals not as an investment but as a vacation alternative … Such properties appeal to buyers who want exclusive getaways but who may be unwilling or unable to purchase a second home they will use for only a few weeks a year…The younger generation of buyers is viewing it as an alternative to full ownership because of the ease. You're not paying for when the property is vacant, it's become a convenient way to own a second home without all of the problems."
To learn more about Resort Equities and their unique properties and shared ownership programs, visit: www.resortequities.com
Other News Articles