Fractional Real Estate Ownership

by Julie Olsen - Date: 2006-12-04 - Word Count: 574 Share This!

Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski town offers a great selection of fractional ski ownership opportunities in it's real estate marketplace. As the price for ski condos rise more people are considering fractional ownership as a great alternative to full ownership. Fractional ownership does differ from timeshare. Timeshare allows use of a property for a specific week so it's very fixed. With fractional ownership you actually own a deeded interest share in the property with a specific number of days per year of use. The time of the year or week you can use your condo can vary and is shared with a small number of owners. There is generally a rotating schedule for use during popular holidays. With fractional ownership you need to be somewhat flexible since you are sharing the unit with any where from 4 to 8 other owners typically. If flexibility is an issue then full ownership may be the better option.

When buying a fractional ownership ski condo, buyers must be aware that there are annual maintenance fees which help with utilities and maintenance of the condo and it's common areas. Also when buying a fractional ownership condo, you will need to find a lender that specializes in lending on fractional ownership condos or you may want to use a home equity line from your primary residence. Typically, the interest rates can be a little higher compared to rates for full ownership on one's primary residence.

In Park City some of the fractional ownership ski condo developments allow owners to place their condos in a rental pool to get rental revenue for days they do not use their condo. Some also have a space available program for those who want to use more days then what they are allocated. The Grand Summit Lodge at The Canyons ski resort offers a great value with quarter share ownership. With their quarter share ownership program, owners get 13 weeks of use per year and may place days they do not use their condo into a nightly rental pool to generate rental revenue. There are fractional ownership opportunities at Deer Valley Resort and in the popular Main Street area of Park City Utah as well.

The cost of fractional ownership can start as low as $60,000 for a studio at The Canyons Resort to about $655,000 for a large 4 bedroom luxury condo at The Deer Valley Resort. To see what fractional ownership opportunities are currently available in the Park City Real Estate market, buyers can search the Park City MLS and look under the category of fractional ownership and select the area of town they would like to find a fractional ownership condo. If you are looking for options at Deer Valley Resort , then you can select Lower Deer Valley or Upper Deer Valley. If you are looking for options in the popular Main Street area where you will be near all the Main Street action, then you can select the Old Town area. If you are interested in fractional ownership by the Canyons Resort, then select The Canyons area.

If you are looking to buy a ski condo, then fractional real estate ownership might be a good option to consider. Park City offers a great selection of fractional ownership options to choose from. Buyers are finding they can get a better property with a better location and more amenities for less money with fractional ownership.

Related Tags: ski condos for sale, fractional real estate ownership, fractional ownership, park city condos

Julie Olsen is a Full Time Park City Real Estate Agent. Julie specializes in helping second home buyers find their dream ski property getaway in the Park City area. Visit her website for more information on the Park City Real Estate Market and to Search the Entire Park City Utah MLS for all homes, condos, vacant lots and fractional ownership opportunities for sale.

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