People who wish to own a vacation home in a favourite location without the problems and expense of year-round repairs and upkeep would do well to consider fractional ownership condos. The ever-increasingly popular practice allows a luxury unit to be purchased only for the time the residents are actually there, as compared to the whole ownership when the place might sit empty for long periods of time. The difference in investment cost is huge, yet it still allows vacationers to spend valued holiday time, accompanied by the services and amenities in the exclusive community for the time that each owner is present.
To buy fractional ownership condos, a one-time purchase price is required and a yearly upkeep fee is paid for its use and the expenses required for its maintenance. Prices vary depending on size, number of bedrooms, spa, clubhouse membership, amenities and location, but could be as low as $40,000, for which the fractional owner would have use of the unit for up to three months of the year. As fractional ownership condos are state-of-the-art luxury homes that would cost hundreds of thousands of dollars if purchased outright, this type of real estate arrangement is very cost-worthy.
Fractional ownership condos differ from timeshare plans which are usually much more limited in access, with smaller units and fewer luxury amenities and services, and offer fewer options in selection of preferred weeks. Timeshares also depreciate over time and are more difficult to obtain mortgage funds for their purchase. They are more difficult to sell when the time comes that the owner no longer wishes to hold them.
With fractional ownership condos, on the other hand, demand outpaces supply, and they appreciate in value. Located in lavish settings with five-star hotel services, they allow the owners to call ahead to staff, advising of their imminent arrival, upon which they will find their kitchen stocked with groceries, favourite family pictures and portraits throughout the unit, and other personal mementoes, all of which have been carefully stored awaiting their turn at using the condo. Airport shuttle service is followed by having suitcases unpacked and items put away in dresser drawers or on bathroom counters. In a few short hours, the stresses that were left behind; the hectic office, the bumper-to-bumper traffic, the endless chores of lawn mowing or snow shovelling are a distant memory. Every desire is anticipated and relaxation and calmness permeate the atmosphere.
Fractional ownership condos are also easy to trade for other locations. For example, if a family has purchased theirs in the hot and sunny Caribbean for winter getaways, but wishes to travel to a less humid location for summer holidays, a week can be traded with someone who has a cool forested vacation home in a European location where the season is cooler.
The fact that fractional ownership condos are located around the world, can be bought, sold, or deeded in a will, and enable the owners to gain equity just like any other piece of real estate, has made this type of second home proprietorship extremely popular in recent years. The fully-furnished and carefully manicured residences offer a truly delightful getaway without a คอนโด ราคาถูก care in the world for busy people that cannot be beat!
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