Partial Ski Home Ownership

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  1. #1

    Partial Ski Home Ownership

    I've been playing "fantasy life" where i pretend i have lots of $$ and little responsibility.

    looking at homes for sale in ski country and finding lots of options for 1/4 or 1/2 ownership in a home where you get 1 or 2 weeks per month.

    Anyone have experience in this type of setup, strangers sharing ownership of a fairly expensive asset?

    shit happens, wear a helmet.

    2018/19
    Breck - 12/2 12/22 12/23 1/5 1/6 2/9 3/10
    Taos - 1/26
    Keystone - 2/24
    Crested Butte - 3/25 3/26 3/27

  2. #2
    I've never seen individual homes for sale like that...but I have seen "Condo" type units where they are managed (such as Claybrook at Sugarbush). From people I've talked to, one of the potential downsides is that some are very strict with what you can and can't do. Many times there is very little personalizing that you can do. Some people don't care about this, but to me it is kind of like living in a place that doesn't really feel like "your own". Then there's always the challenge of not being able to go whenever you want. Some people don't mind either of these things. You really need to look at the fine print and rules in the specific unit you are looking at. Even consider what type of storage is available for your personal gear and clothes when you're not there, etc.

  3. #3
    Haven't done that but bit the bullet on a RCI / InnSeasons / Wyndham timeshare membership over the summer. Using that for the Tahoe trip and probably after that a trip out west most years and Puerto Rico every now and then (where my wife is from).

    The way the program is set up it's more like a travel plan program than a regular timeshare membership. Makes it relatively affordable to go just about anywhere in the world of skiing.

  4. #4
    bigbog's Avatar
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    Quote Originally Posted by cdskier View Post
    I've never seen individual homes for sale like that...but I have seen "Condo" type units where they are managed (such as Claybrook at Sugarbush). From people I've talked to, one of the potential downsides is that some are very strict with what you can and can't do. Many times there is very little personalizing that you can do. Some people don't care about this, but to me it is kind of like living in a place that doesn't really feel like "your own". Then there's always the challenge of not being able to go whenever you want. Some people don't mind either of these things. You really need to look at the fine print and rules in the specific unit you are looking at. Even consider what type of storage is available for your personal gear and clothes when you're not there, etc.
    +1
    SteveD

  5. #5

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    Those are called fractional shares and they are becoming very coming. Stowe Mountain Lodge is a fractional share setup. As cd said, if you don't mind the lack of personalization and the restriction on use, it might be a way to get some that you otherwise couldn't afford alone. I've never seen a fractional share before. That might not be bad if you can work with the other owner to personalize it. Association fees are always going to be a killer with any kind of sharing.

  6. #6
    Quote Originally Posted by mbedle View Post
    Those are called fractional shares and they are becoming very coming. Stowe Mountain Lodge is a fractional share setup. As cd said, if you don't mind the lack of personalization and the restriction on use, it might be a way to get some that you otherwise couldn't afford alone. I've never seen a fractional share before. That might not be bad if you can work with the other owner to personalize it. Association fees are always going to be a killer with any kind of sharing.
    The 1/2 share I saw was buying two 1/4 shares. And yeah, The HOA fees I've seen are nuts. Like $500+ per month. But I tell my wife it isn't that bad because it included utils tv internet and stuff.
    shit happens, wear a helmet.

    2018/19
    Breck - 12/2 12/22 12/23 1/5 1/6 2/9 3/10
    Taos - 1/26
    Keystone - 2/24
    Crested Butte - 3/25 3/26 3/27

  7. #7
    Quote Originally Posted by gmcunni View Post
    The 1/2 share I saw was buying two 1/4 shares. And yeah, The HOA fees I've seen are nuts. Like $500+ per month. But I tell my wife it isn't that bad because it included utils tv internet and stuff.
    I spend around $500-600 a month in the winter for my condo dues, cable, and utilities, however one big difference is that I can use it 100% of the time vs 25% of the time. In the off-season my utilities drop. I could save even more by turning off cable non-winter, but I leave it on as I still use my condo from time to time during the off-season.

    While I can't comment specifically on where you are looking, I know in the area where I am you can get many good deals on condos in slightly older complexes where you will pay less per month for whole ownership compared to what you will pay for 1/4 ownership in a new fancy place. The condo/HOA fees are something to keep a close eye on though as they can vary a lot even from unit to unit in the same complex.

  8. #8
    Don't have first hand experience, but just got back from the NC shore where my brother owns a home one row from the ocean. (The only thing better than owning a beach house is having a brother who owns a beach house. It's great, but the wear and tear and recurring maintenance on a rental house that close to the ocean is insane.) But I digress.
    A couple lots from my brother's house is a large six bedroom house with a pool. It was built about six to eight years ago and we toured the inside of it then. IIRC it was set up as a 1/10th share. It used to be hopping with guests when it was first occupied, but in recent years it's a lot quieter. My brother says the multi-share arrangement somehow busted up and it is owned in a different format now. The problem was some people took better care of it than others and there was resentment. Some people were better prepared financially to participate in the arrangement and some were strapped. There are a lot of variables that can present problems down the road when a place is shared by multiple owners.

  9. #9
    I looked into it for the beach, and ultimately decided against it. Here are the primary reasons why:
    1) It is not a good idea for an activity that is significantly impacted by the weather. I don't want to be told what my weeks are. I want to go when the weather is the best.
    2) You won't use nearly as much as you pay for. A lot of your "weeks" will only be used for long weekends. And you probably won't use lots of your weeks in the off-season.
    3) For the same money, or less, I can do what I what, where I want, and when I want.
    4) Owning a place is great for the convenience of having your own place. It's worth a price premium to lots of folks to have a place where they can just turn the key and know that all of their stuff is there. Equipment is there, food is in the cupboards, etc. Fractional ownership takes away the one real advantage of ownership.

    The best arrangement, IMHO, is to get a half interest in a private place with a VERY good friend. I have seen those arrangements work extremely well.

  10. #10
    Quote Originally Posted by VTKilarney View Post
    3) For the same money, or less, I can do what I what, where I want, and when I want.
    what do you mean by this one?
    shit happens, wear a helmet.

    2018/19
    Breck - 12/2 12/22 12/23 1/5 1/6 2/9 3/10
    Taos - 1/26
    Keystone - 2/24
    Crested Butte - 3/25 3/26 3/27

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