Own a piece of paradise
For some, the word "paradise" conjures up images of sandy beaches, clear water and lots of sunshine. For people who return to Steamboat Springs year after year, it means champagne powder, stunning mountain views, endless outdoor recreation opportunities in all seasons and, of course, soothing hot springs.
If the latter description is your idea of an ideal getaway, we invite you to consider making Steamboat your permanent home like we did!
If full-time residency isn't an option for you, there is still a way to own a piece of our beautiful Colorado mountain town: part-time condo ownership.
Known as fractional condo ownership, this option allows you to own a condo jointly with other people, and it buys you a certain amount of time to use that property each year. Some of the benefits of fractional ownership include:
- Lower cost. Buying a vacation home on your own can be a costly endeavor. Fractional ownership can offer access to higher-end properties without the high price tag.
- More access time. In contrast with timeshare arrangements, which give you access to a property for one or two weeks per year, fractional ownership gives you a bigger chunk of time – up to 13 weeks in a quarter-share agreement. Typical fractional ownership will buy you 1/4, 1/8, 1/10 or 1/13 ownership in the property.
- Less rental stress. If you buy a vacation home outright, but don't plan to use it for most of the year, you might need to rent it out throughout the year. With a fractional ownership, you are not responsible for filling the property during your off times. However, you may have the option to rent out the space if you don't plan to use all of your allotted time, depending on your ownership agreement.
- Less maintenance stress. Fractional condos are often managed by maintenance companies that handle repairs and upgrades, which leaves one less thing for you to do.
Each fractional ownership agreement is a little different, and your real estate agent can help you understand the ins and outs of each one. Be sure to ask about how each owner's time is scheduled, whether or not you will be allowed to rent out the property during your time, how maintenance is handled and what maintenance fees will be involved.
To learn more about vacation condos and fractional ownership options in Steamboat Springs, contact us using the form below. Our current listings include fractional options in Steamboat for as low as $4,500.