Fractional Ownership -The Best Way to Own a Holiday Home
Updated: Jul 28, 2020
Have you ever dreamt of owning a luxury home but remembered you did not have that much at the bank to spare for it? Well, not all hope is lost. You can still own that dream holiday home through fractional ownership.
“What is fractional ownership?” You may ask
Fractional ownership is a concept whereby a number of different unrelated parties come together to share ownership of property. This property could include tangible assets such as jets, yachts or mostly real estate resorts, which is where holiday homes come in.
Sharing fractional ownership in holiday homes or resorts means the different parties split the costs so that they do not have to pay the full amount to access the property. You pay for a given period every year so that you can travel and live very comfortably at these holiday homes with your friends and family members.
The entire process is managed by a fractional ownership company such as ours, to ensure that the entire process is seamless and that you do not experience any problems with the other shared owners.
Is fractional ownership a good investment?
During such difficult economic times, fractional ownership is certainly a good idea for people who still want the opportunity to enjoy a holiday but do not want to break the bank while at it.
These kinds of holiday homes give you access to not only that one property but a series of them around the world depending on who’s managing this ownership and how many properties they have under them.
How does fractional ownership of property work?
Whenever you decide to purchase a piece of this property, the price you pay is related to the number of days in which you will be using the property and the number of shares you choose to purchase.
These properties are mostly divided into six or eight-week blocks. Think about it, would you rather buy a holiday home that you will most likely only use once a year at full price, or would you rather pay a much smaller amount, still own the property, and not feel guilty about not using it more often? The second sounds more reasonable doesn’t it?
Not only will you be buying the fraction of the holiday home, but you and the other fractional owners will be sharing the maintenance cost. So, you give a one-time buying price and then a yearly fee for the upkeep to make sure that every time you go for your holiday, you find your holiday home in the best condition.
You’re allowed to buy more than just a fraction so that you get more time in your beautiful holiday home. You can also swap some weeks with your fellow fractional owners so that you’re there when it’s most convenient for you.
What types of homes do you get with fractional ownership?
If you’re worried that fractional ownership limits you to substandard holiday homes, worry no more.
You can still get beautiful luxury holiday homes with amazing features such as luxury kitchens, large closets, huge bathrooms, swimming pools, expansive yards and the likes. You can get homes around the coast, for example in an area like Diani or beautiful quiet towns such as Nakuru.
Is there fractional ownership in Kenya?
This might seem like a concept that works abroad especially because it was initially popularized by the American people with an interest in real estate, but fractional ownership of holiday homes has been around in Kenya since 2010.
The first fractional ownership holiday home was in Malindi and because of its success, many more were started. You can, therefore, get a beautiful holiday home for yourself for just a fraction of the price.
As you can see, it’s a great concept that you can be part of!
Fractional Warehouse is a company that provides buyers or family members with the opportunity to own a beautiful holiday home in Kenya. You can enjoy a great holiday getaway in a dream location while you stay at a place that you can call yours.
You can start your journey to owning a holiday home for a fraction of the price by following this link.
Got travel queries? Talk to us on our social media. Fractional Warehouse on Facebook and @fractionalwarehouse on Instagram. We also encourage you to look through our Fractional Warehouse website for more insights.