Fractional Ownership: Sensible Way to Own Waterfront Property

Many people crave beautiful waterfront property but can't quite afford it or have their assets tied up in other investments. You've probably heard of timeshares as a way to access beautiful vacation properties, but there's another way: Fractional Ownership. 

With fractional ownership, two or more people buy shares of an asset and share that asset’s use and care requirements. The owners split the costs, the benefits, and the responsibility for the asset. It's a relatively new but rapidly growing way to access valuable assets like aircraft, luxury vehicles, and vacation property. By sharing the maintenance for a vacation home through fractional ownership, care of the building and property is taken care of for you while you are away.

Now, let's cover the benefits more fully.

Looking for Waterfront Property?

If you're interested in high-quality waterfront property, you'll be pleased to learn that Lakefront homes have appreciated historically well. There are many reasons for this, including the fact that lakefront properties are less prone to erosion and water damage than oceanfront properties. This is due to the fact that lakes are stabler bodies of water than oceans. But it’s also because lakefront properties tend to come with larger, more open plots of land and more of what people love about vacation properties.

Fractional is The Sensible Way to Own Waterfront Property

Fractional ownership shares the cost of everything with the other owners. That means not only will others share maintenance responsibilities, but you will also have access to a wider pool of knowledge when it comes to upkeep and repairs. When you buy into a fractional ownership plan, you are issued a deed for the property and own a share of the real estate. You do not take full responsibility for costs and maintenance. It is an effortless way to enjoy the pleasure of lakefront life without bearing the full brunt of the financial obligations.

Waterfront Property is More Affordable

Suppose the down payment for a specific piece of lakefront property was 10 percent. You might not have that ready for some time. But what if you shrink that down payment in half through a fractional ownership plan? What if you could cut it into thirds or even quarters? Now getting into a gorgeous lakefront unit on your own terms is starting to look a lot more feasible! Shared ownership lowers the costs. You can now choose from listings in the most desirable location in Lake Michigan, and don't forget the upkeep costs are also shared.

Fractional Owners Homes Get Loved On

As mentioned above, the best way to take care of a property is to keep it occupied by someone with a vested interest in its upkeep. No home should sit vacant 48 weeks out of the year. What better way to care for a house than by sharing the costs and use with fellow shareholders? Shared ownership means the home is opened up at regular intervals, doors are opened/closed, water is checked, etc. This is essential to keeping the home maintained. Fractional ownership is the easiest and the most affordable way to protect your investment.

Peace of Mind

With fractional ownership, you will never be solely responsible for the property. You'll enjoy group accountability with the added benefits of being briefed by the previous occupant/s about any concerns you should be aware of when you arrive. When it's time for your stay, you can enjoy your vacation and not spend valuable time catching up on accumulated care needs.

Learn more about Fractional Ownership at Tamarack Lodge

The Tamarack Lodge is a premium vacation hub in Traverse City, Michigan. This iconic location with 800 feet of prime waterfront land has given guests family memories that will endure for generations. To learn more and find out how you can get access to premium vacation properties, get in touch with  Tamarack Lodge today.