For those who want an affordable vacation home, fractional ownership is one option

fractional ownership

We are often approached by would-be buyers who are interested in the vacation home options available in Steamboat Springs. For those buyers who don't want the expense or hassle of buying a property outright, fractional ownership offers one attractive option.

What is fractional ownership?

Owning a piece of property under a fractional agreement means that you have access to it for a set number of weeks per year. Fractional agreements vary, but you could purchase anywhere from a few weeks to several months access each year. Unlike a timeshare, each party in the agreement owns a portion of the property's equity.

Advantages of fractional ownership

This option can help bring your dreams of a vacation home to life. Because you are sharing the cost of the property, both purchase cost and maintenance, it can make owning a vacation home much more affordable. You can also choose a property in a nicer area.

In addition, you carry less of the burden for renting out the home throughout the year. If you don't use all of your allotted weeks, you can rent them out and earn a little money, but the other owners are responsible for their weeks. (Make sure you are clear on whether your fractional agreement includes any restrictions on renting the property to non-owners.)

Other issues to consider

If you want to buy a home or condo and create your own fractional ownership arrangement, first ensure that there are no local or HOA restrictions against that type of agreement.

Selling your fractional ownership can sometimes be a challenge. However, in places like Steamboat Springs, there is a lot of demand, so that is usually not a big concern.

Working with a real estate agent who is experienced with fractional arrangements is a good idea. He or she can walk you through the particulars of this type of purchase (and sale, if the time comes).

If you would like to learn more about vacation homes in Steamboat Springs, contact us. We have nearly 30 years of experience and the local expertise you need to make the right decision.