Ten Ways to Make Sure Your Purchase is Solid If you are in the market for purchasing a vacation home and have been intrigued by the concept of fractional real estate, be sure you know what to look for. Fractional resort real estate is natural way of: 1. Saving money on your vacation home purchase; 2. Letting go of the cares and concerns of maintaining your investment; 3. Ensuring your familys security while enjoying the lifestyle they deserve. Last year, according to Ragatz Associates, internationally recognized as a leading market research organization in the resort industry, Fractional Real Estate projects (including Private Residence Clubs) increased by 218%. And prices rose by 20% as well! Primarily, the rapid growth in this intriguing product results from the void it fills for both consumers and developers: it has a good image; it offers variety of types of products and locations; many major hospitality brands have jumped aboard; and it is increasing in market acceptance. So, if you are out shopping for fractional real estate, what should you look for? Since it is real estate, the first component is always location in a popular vacation destination area. Be sure to decide on the area that fits your familys needs. Are they skiers? Shoppers? Hikers? Swimmers? Culture Aficianados? Secondly, a great location within the resort location itself is always optimal. If families can ski-in/ski-out, golf-in/golf-out, it is a bonus for all involved. Are you within walking distance to theatre? On the beach? Make sure your vacation activities are easily accessible. After location, look for credibility in a developer. What have they done before? With who are they associated? Do they know the area? All these elements are key to a strong, secure investment. Fractional Resort Real Estate is primarily residential in nature, so adjacency or association with a fine hotel and being able to draw on its services, amenities and dining opportunities boosts the value of a Fractional purchase. Investigate the traditional real estate offerings in the area. Are there limited and/or expensive second homes in the vicinity that makes a fractional purchase an enticing venture for your family? Would you consider having a second home in the area but not the hassle of keeping up a second vacation home? Are homes in the location priced out of reach but a fractional second home opportunity fits your budget? Your location must have year-round appeal or at the very least two strong visitation seasons. A ski resort that offers no summertime activities or a lake that is inaccessible nine months of the year do not allow you to take full advantage of your fractional purchase. Does the area have a great history? Is it growing? These are two enhancements to your purchase. Have you heard legends and myths about the environment, tales of healing waters, or seen golf greats who frequent the nearby links? Have you been returning to the same area for many years? Can you see yourself returning year after year? Make sure the project has a simple and easy to use operational structure which is designed around your needs. Keep this check list in mind while planning for your purchase: Popular resort location Great location within the resort Developer credibility Fine hotel nearby Limited availability to second homes Year round appeal Great history Hope for the future Well designed use plan Does it fit your budget? For more information visit www.carlgberry.com |
