14 Sep Why Fractional Real Estate makes sense
We have a diversity of owners at Sunrise Ridge Waterfront Resort here in beautiful Parksville, B.C. and their reasons for becoming owners with us vary. But there are some common threads between them. Here are a couple of the more common reasons….
1. This is shared Ownership, not shared time. There’s a conveyance of title and you own not only your share of the real estate, but also all of the contents… appliances, housewares, furniture, etc.
2. Parksville is one of Canada’s most popular retirement and vacation destinations. Real estate values have risen substantially over the years and continue to do so. Spending money and making a purchase are two different choices. Many people continue rent their vacations, but more and more are realizing that fractional ownership is an affordable and sensible alternative.
3. Because our owners have different requirements, we have choices to please all of them. One, two and three bedroom residences; summer and winter usage; Eighth, Quarter and Half shares; waterfront or Lodge and more.
4. Although this is a fantastic location, we are affiliated with one of the large timeshare exchange companies (Interval International) and owners can exchange at over 2800 resorts around the world if they don’t want to spend all their time in Parksville.
5. For those looking for an investment opportunity as well as vacations, this is one of those “ground floor” situations we hear about. We’re just getting started developing Sunrise Ridge with four of nine planned buildings up and our amenities (pool, hot tube, fitness centre) planned for Spring of 2013 at which point our prices will increase substantially. Parksville is one of the most popular retirement and vacation destinations in Canada and sheer demand has caused the value of real estate in Parksville to increase steadily year after year.
6. As attractive as it may seem, moving to Parksville is not likely for many people. Their roots are deeply embedded at home, surrounded by friends and family. Owning an entire vacation home here may seem like a good idea, until you think it through. Aside from the cost of buying another residence outright, there’s the mater of how you will manage it long distance. And for those who thought they could take a couple of weeks of vacation time and rent the rest, what would you tell your tenants? Most of our owners take advantage of our rental program and have our on-site hotel management rent their unused time for them. Receiving 60% of the rent without lifting a finger is more attractive to our owners than managing it all themselves.
7. Fractional ownership is affordable. In most cases, an Eighth Share (6 weeks) costs less than a new car or truck. Plus you pay only a fraction of the expenses to maintain your property and it’s all done for you.
8. Here are a couple of pictures that should answer the question, “why Sunrise Ridge?”