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What's the Best Timeshare for You to Buy? Fractional Ownership May Suit
You Best
By Jill Potvin Schoff
The idea of buying only a piece of a vacation residence makes a LOT
of sense. Why buy 100 percent of something you’ll only use a few
times a year? It’s this logic that was behind the creation of
timeshares back in the 1970s. In the 1990s the concept was taken one
step further and “fractional” real estate was born.
So what’s
the difference between fractional real estate and timeshares? In the
simplest terms, fractionals can be seen as a step up from timeshare.
You get “more” of everything. More time, more space, more
services, and more luxury. Of course the downside is, there is more
cost – but not as much as you might think.
More Time
Fractional vacation ownership is generally sold in shares of 1/12 to
1/4, giving owners between 4 and 12 weeks a year at their residence.
These weeks are generally spread throughout the year, so owners get
a chance to enjoy all the various seasons have to offer. Each fractional
property’s “use plan” is different. Some properties
offer “fixed” weeks so you have the same weeks each year,
others have “rotating” weeks. Some offer a combination
of both. Timeshares, such as the Marriott timeshare program, are usually
sold as one week that has to be used during the same season each year.
More Space
Fractional vacation homes are often stand-alone homes, cabins, cottages
or villas, which gives a level of privacy that can’t be matched.
And even when the residences are hotel suites or condos, they are
generally more spacious. The typical fractional has 3 bedrooms and
3 bathrooms. This allows you to bring plenty of family and friends
along with you on vacation – and gives everyone some breathing
room so that a week-long vacation doesn’t start to feel cramped.
Timeshares typically have fewer bedrooms and the square footage of
the living room, kitchen, etc. is generally smaller. The Marriott
timeshare program, for instance, offers 2 bedrooms and one bath.
More Services
This is an area where fractional home ownership really shines. Fractional
properties generally offer full concierge services. They will make
arrangements to pick you up at the airport, secure tickets to special
events for you, stock your refrigerator with your favorite food, arrange
tours of nearby attractions, make dinner reservations… the
list goes on. At a timeshare resort, all these details are generally
left up to you. Fractional residences generally have storage facilities
as well, so you can leave bulky things like sports equipment there
year round.
More Luxury
Fractional residences are have amenities and décor similar to
that of luxury hotels. The typical fractional residence has amenities
like flat-screen TVs, granite countertops and high-end appliances in
the kitchen, and whirlpool baths. And most fractional residences are
located in first-class vacation resorts and ownership typically includes
access to golf courses, spas, beaches, or ski slopes that are on or
adjacent to the resort property.
You Get What You Pay For
Yes, fractional home ownership costs more than your typical timeshare.
But not as much as you might think. When you break it down into cost
per week, it’s equal or sometimes even less expensive than a
high-end timeshare. And the range of fractional pricing is extremely
broad -- from $50,000 all the way up to $1 million or more – so
it can suit a range of budgets and tastes. When you consider the added
time, space and amenities, it may end up being just what you’re
looking for.
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