Have you heard people talking about wanting a vacation dream home in Breckenridge, Colorado and then sighing at the prices? Yes, prices and values for Breckenridge CO real estate keep inching up and are deterring some people from realizing their dreams. One of the hottest new subjects around real estate in Breckenridge, Keystone, and other Colorado Rocky Mountain resorts is fractional ownership.
The idea is catching on quickly in Summit County and reviving the dream for many who want a higher-end Breckenridge CO home. Fractional ownership allows several different people to share ownership and the use of a destination or vacation property in Summit County. For those who want several portions, fractional ownership presents an incredible way to own more than one property.
Fractional ownership simply means the division of any asset into portions or shares. It was pioneered in the jet industry as a great way for businesses to purchase shares in a jet to reduce costs. In the “group flying” concept, many pilots get together to buy private light aircraft in a fractional ownership. That shared ownership of the property and its deed entitles the shareholders to certain usage rights. The purchaser actually owns part of the title which is an investment.
Fractionals are not timeshares. Timesharing or interval ownership is typically the ownership of a week. That week may or may not float with a season from year to year. Fractional ownership, in contrast, works as a great stepping stone for many buyers. A buyer can spend $200,000 to $500,000 and have a 20-percent share of an exclusive piece of property. In the ultra-luxury market, a buyer may spend $1.5 million for a 20-percent share in a $5 million luxury home program. This is a very attractive option for all pocketbook sizes and allows more freedom and usage benefits.
So, if you have heard murmurs of fractionals and wonder whether they are right for your family’s dream vacations, contact long-time resident and GRI Realtor Jonna Beardsley at (970) 390-2533 or 1-800-774-7970. Website: www.jonnabeardsley.com. Email: jonna@breckenridgeassociates.com. It is important for buyers to seek correct counseling from a Broker that they can trust in order for their real estate needs to be met correctly. Jonna’s philosophy is simple. Whether buying or selling, she understands that the most important real-estate transaction is yours!
If you are already in town, stop by the office at Breckenridge Associates Real Estate—“The Hometown Team” at 229 Main Street in the red-brick building located between Bubba Gumps and Starbucks.
