The current economic climate has produced a silver lining for those buyers in a position to purchase fractional real estate now. Fractional properties and Private Residence Clubs are going all out to deliver value and deals to their consumers. Many are simply reducing their prices or increasing the number of shares to lower the entry price. But other properties are getting even more creative when it comes to meeting buyers’ needs. We are seeing “try before you buy” programs, creative financing options, fabulous Stay Packages, and more.
www.luxurylodging.biz in Sundance, Utah, has put together an interesting “try before you buy” program. For a $15,000 deposit plus payment of normal monthly maintenance fees, qualified buyers may enjoy all the benefits of ownership in the home that a 1/8th share would afford for one full year. They may exercise their option to close on their purchase at any time during the year, or decide not to purchase altogether. This type of program is especially useful for first-time fractional buyers who want to be sure that fractional ownership is right for them.
The Phillips Club, Manhattan’s most prestigious Private Residence Club, is offering interested parties the ability to enjoy their superb style, location and service for short-term stays for the first time in their history. Through August 31st, guests may reserve a spacious studio or one-bedroom residence with a fully-equipped kitchen for only $300 per night, with an additional complimentary night included for stays of five days or more. Until now , the only way to get a taste of The Phillips Club was through the purchase of a share or a rental of one month or more. Stay Packages of this kind are perfect for those who want to try out a high-end fractional property without any up-front obligation.
The Ranch on Soda Rock in California’s wine country is pioneering the “lease to own” concept in the fractional world. This is an ideal scenario for prospective buyers who wish to defer big purchases until the economy recovers. Qualified buyers would pay $100,000 up-front for a 1/10th share of the home, and then have up to three years to exercise their option payment on the remaining $250,000. During those three years, the developer will pay all property taxes. The owner will pay the normal monthly maintenance fees while having access to five weeks usage annually and all of the benefits of ownership. California does not have much in the way of fractional ownership or fractional resorts. Look into Inspirato and Equity Estates to find luxury home vacations in California.
E3Escapes is not only offering 4-day, 3-night Stay Packages at their beautiful mansion in Cabo San Lucas at very special summer rates, but they are also offering a once-in-a-lifetime incentive to prospective buyers. The next buyer of a 1/12th, 1/6th or 1/4th share in the Villa Las Palmas will receive an “Across the Board” team sponsorship in the 29th Annual Bisbee’s Black and Blue Tournament. The Bisbee tournament is one of the most prestigious fishing events in the world, and for some lucky owner, the $63,100 sponsorship fee will be paid in full. The team will have the opportunity to fish on the tournament-winning Spartacus at Sea, a 60′ Hatteras sport-fishing yacht, while their friends and family members relax at the 13,000 sq.ft. Villas Las Palmas.
The Las Olas Founders Club, an exclusive enclave set within the Bahia Principe Riviera Maya Residences & Golf Resort just south of Cancun, Mexico, is taking flexibility to a new level. They are offering whole ownership of luxury casas in this private gated community at Founders Club pricing. Once a home is purchased, they will work with the owners to fractionalize, market and sell whatever shares they do not want to keep if the owner chooses to do so. And once the shares are sold, they will also provide all of the property management services needed for the new fractional residence. Not only does the new owner benefit from fractional home ownership, but they also may realize a profit to be made from the fractional sales. Other Mexico timeshares are also available.
This is just a few of the more interesting incentives we’ve heard about. Whenever you make contact with a fractional property, we encourage you to ask about any special purchase incentives — you might be pleasantly surprised with the response! If you know of any other special deals that are being offered, please leave us a comment below, or contact us at [email protected]