5 Things to Consider When Buying Fractional Ownership
Fractional Ownership has long afforded property buyers the opportunity to own holiday homes in luxurious resorts – at a fraction of the cost! As the attractive prospect of matching financial outlay with actual property usage continues to grow in popularity,Crane Property Sales has compiled 5 things you should consider when buying Fractional Ownership:
1. Location, location, location
As with any other type of real estate purchase, location is a key consideration when buying Fractional Ownership. In the Caribbean, everyone’s dream is to own a home right on the beach. However, you should also consider the location’s on-site amenitiesi.e. pools, restaurants, fitness facilities, spa etc.
2. Value for Money
Compare the purchase price as well as the ongoing maintenance fees with other local offerings. Evaluate the sales process as well – it should be simple and easy to follow. The Crane’s transparent sales process and vertically integrated approach to design and construction has allowed us to realise significant savings, which are passed on to our owners by way of low, fixed pricing.
3. Flexibility of Use
Many Fractional Ownership resorts offer the ability to exchange weeks to other resorts. This allows the owner to experience many different types of vacations – from skiing to golfing – using their home resort as a base. The Crane’s #1 rating in both The Registry Collection® and RCI®Points affords Fractional Owners exceptional vacation trading power – imagine, exchanging one week at The Crane for multiple weeks anywhere in the world!
4. Reputation & Security
Do your research to ensure that you can place your confidence in the company that you are buying from. Crane Resorts, developer of The Crane Resort and Beach Houses, is a pioneer of Fractional Ownership in Barbados, with over two decades experience in selling luxury real estate. Fractional Ownership at The Crane is also securely held in trust by First National Trustee Company (FNTC) and can be easily willed, sold or transferred at any time.
5. Return on Investment
Is there a rental programme in place? You should have the ability to earn an income that can cover your expenses. The Crane allows Fractional Owners of four weeks or more, the opportunity to not pay their annual fees by depositing weeks they do not intend to use into the Rental Pool, and letting The Crane take care of the rest. The Crane keeps interests fully aligned with owners by limiting the management fee to a percentage of net profit after all fees and expenses.
For more information on the benefits of Fractional Ownership at The Crane Resort, contact [email protected].