Purchasing a vacation condo

[skijay]

This was going to be the year I was going to buy a vacation condo. After researching and actually figuring out how often I would actually use it over the past 2 years, the owning of a condo is more of a novelty.

What I have thought of is doing a ¼ share. Basically finding 3 other people who all agree on one property, agree on usage and possibly pay their share in cash so we have no mortgage. We will split the fees & taxes. I like this idea, as I can afford a better property than if I went solo.

I would love to have some feedback on the pros and cons. I have not talked to a real estate agent about the arrangement, but what difference would it make? There will be 4 owners on the deed instead of one.

Thanks

 

[ski_resort_observer]

Many of the newer developements at ski resorts are sold by the 1/4 share....Fractured share rather than timeshare. You don't have to hassle finding the other owners to share, they do. I will warn you that it's much more complicated than you might think.

The Bush's newest developement, Claybrook is sold by the 1/4 share. Just send them an email or call them and you will get a packet that gives you all the details.
http://www.sugarbush.com/realestate/cm.asp?pn=claybrookresidences&pid=72

 

[Ski Diva]

Jackson Gore at Okemo and the Grand Summit Lidge at Killington offer quarter shares, too. Same idea -- they find the buyers, you just put up the money.

 

[Vortex]

Have you considered a full purchase and using a rental agency to rent the times you don't want to use it or dare i say rent it your self?
I have a guy in my nh community that does that and makes out very well. basically a free vacation home.

The only thing I have learned is with the huge tax advantage of full ownership, my condo purchase has been my best investment other than my primary home.