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Q:
What
is
shared
Home
Ownership? |
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A:
Shared
Home
Ownership
divides
a
single
property
into
multiple,
equal
shares.
A
home
owned
by 4
to 8
members
guarantees
each
shared
owner
at
least
six
weeks
of
usage;
up
to
twelve
per
year.
The
cost
of
the
home
and
the
monthly
expenses
are
shared
between
all
members,
making
home
ownership
considerably
more
affordable.
Best
of
all,
the
property
is
professionally
maintained
and
managed,
allowing
the
owners
to
focus
on
enjoying
their
family
time. |
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Q:
How
does
shared
ownership
work? |
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A:
To
put
it
simply,
you
are
buying
a
professionally
managed,
single
family,
vacation
home
in
partnership
with
other
owners.
The
owners
share
the
costs
associated
with
the
property.
Shared
ownership
works
like
any
other
real
estate
purchase.
You
can
sell
your
share
through
traditional
avenues.
The
main
difference
is
that
you
are
buying
a
deeded
shared
ownership
instead
of
the
entire
property.
Ownership
is
divided
into
“quarters”
or
“eighths”
providing
12
to 6
usage
weeks
per
year
on a
revolving
equitable
schedule. |
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Q:
How
does
shared
ownership
differ
from
timeshares? |
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Shared
ownership
and
timeshares
fall
within
the
legal
definition
of a
“timeshare”
in
most
US
states.
From
a
strictly
legal
standpoint,
the
term
“timeshare”
refers
to
any
arrangement
under
which
a
group
of
people
shares
use
of a
property.
There
are,
however,
significant
differences
between
most
of
the
arrangements
historically
referred
to
as
“timeshares”,
and
most
modern
vacation
property
shared
ownership.
Shared
ownership
almost
always
involves
direct
ownership,
meaning
each
user has
a
deeded
interest,
typically
allowing
greater
owner
control. |
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Q:
Why
shared
ownership
in
quarters
(12
weeks)
or
eighths
(6
weeks)?
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A:
1/8th
ownership
provides
the
amount
of
usage
time
the
average
owner
typically
vacations
as
shown
by
industry
averages.
Also,
it
provides
at
least
2
prime
weeks
in
Winter
and
Summer
with
a
large
pool
of
floating
weeks
resulting
in
flexibility
for
all
owners.
1/4th
ownership
provides
an
even
more
generous
amount
of
usage
time
while
allowing
potential
opportunities
for
rentals
and
exchanges.
There
is
no
limit
on
the
amount
of
1/4
ownership
you
may
buy. |
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Q:
Who
is
typically
interested
in
shared
ownership? |
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A:
There
are
three
typical
buyers
of
shared
ownership.
1. A
buyer
who
is
looking
for
a
single
family
vacation
property
but
quickly
realizes
that
whole
ownership
is
very
expensive.
2. A
buyer
who
realizes
the
emotional
taxation
of
owning
a
second
single
family
home
in
the
mountains.
These
buyers
feel
guilty
because
they
can
not
enjoy
their
property
due
to
time
constraints.
3. A
buyer
who
wants
to
diversify
their
vacation
destinations
by
owning
multiple
homes
in
several
locations.
For
example,
instead
of
owning
a
million
dollar
home,
this
buyer
typically
owns
four
shared
ownership
luxury
homes
in
multiple
locations
@
$250,000
each.
The
quality
of
the
homes
and
vacation
experience
remain
the
same.
These
buyers
are
all
looking
for
the
perfect
location,
fully
furnished
turn
key
ownership
at a
justifiable
price
point.
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For
further
questions
and
information,
please
call
us @
303-768-0900 |
