For those of us poor schmucks who can’t afford to buy our own yacht or vacation home, there is such a thing as fractional ownership to get us fractionally there.
The concept is simple. Instead of shelling out a million dollars to buy your own beachfront getaway in Mexico that you would only visit two weeks every week, you band together with a dozen other investors and split the cost. Sure, the place isn’t going to be available 365 days of the year, but it will be for at least 30. And you’re only spending $83,000 for the privilege. Not too bad!
If this sounds like something you can afford, jump on over to Forbes Traveler and check out their online Guide to Part Ownership of homes, clubs, jets, cars and yachts. The fine writers at Forbes Traveler not only educate the reader about fractional ownership, but they also mention the pros and cons as well as provide a handy calculator to figure out if you are getting your money’s worth.
Suddenly, second home ownership looks very possible. All I have to do now is buy the first home.