Why co-own a vacation home?
Although many people dream of owning vacation property, most either can’t afford the type of property they want, or reason that they would not use the vacation home often enough to justify the expense. Co-ownership provides a solution to these problems by allowing you to pay only a fraction of the costs and ongoing expenses of vacation home ownership, and share the risks of unforeseen maintenance problems and value depreciation with others. Of course, in exchange for spreading the costs and risks, you give up some of the usage rights and freedoms that you would have if you owned the property alone. But job and school commitments prevent most people from using a vacation home for more than a few weeks or months each year, and some loss of freedom and control is often an acceptable sacrifice for the huge cost savings. How does vacation home co-ownership differ from time shares and fractional ownership? Although the ownership structures of arrangements known generally as “time shares” and
