What is “home sharing” or “fractional ownership”?
Fractional ownership is when more than one person or persons come together to purchase a property together, meaning they may not necessarily be a husband and wife or a family relation, or a blood relative. What this does is it empowers the buyer to buy twice as much home. It’s a growing trend for a host of reasons, one of which is that the cost of living seems to go higher every year, along with the home values of any individuals given local area. So, in other words what you have is two partners on a home, sharing the home, sharing the value, sharing the tax breaks, and I think this trend is going to continue with us for quite some time.
