The advantage to this is that it increases your buying power, enabling you to purchase a fraction of a superior property rather than a smaller apartment in the heart of the city.
Understanding fractional ownership can be a little confusing and should not be confused with time share. Time share doesn't have the best reputation and is a way that a person buys their time at a specific property, without actually owning the property.
With fractional ownership you buy a property with other purchasers, basically you are buying shares in the property and your name is one that will appear on the deed. The number of shares you buy will determine your reserve time in the property. This can be a week to six weeks or more.
The benefit to this is that you also share in the operational costs, such as maintenance to the property. This reduces the amount you would spend on the property each year, enjoying exclusive use during your reserved times.
Because the property is owned by a number of owners, you can exchange dates with other owners to suit your schedule. When you buy this time of property, you are buying a time limit each year, this means you are not restricted to taking your weeks on specific dates, which is how timeshare works.
There are a number of advantages to buying fractional ownership Italy. With the country being such a top tourist attraction and drawing thousands of international visitors each year, you have the benefit of never fighting to find accommodation. You have your own home away from home for your exclusive use during your stay.
You get to buy a luxury holiday home for the same price you would spend buying a small apartment in the city and it's exclusively yours for the duration of your stay. The operational costs are low because you share these costs with other owners. If you were to purchase a property on your own, you would be responsible for all the fees involved from maintenance to annual fees associated with the property.
Taking advantage of fractional ownership enables you to rent out the property for your time period, earning a rental income. Depending where you buy in Italy will determine what holiday rental amount you can expect to receive, in many cases this is a worthwhile opportunity should you not be able to use your full time for a year or more.
As the property prices improve throughout the country, your share prices increase. This means you can sell at any time and make a profit, if you sell at the right time. Fractional ownership has become such a top choice for holiday makers in Italy that there will be little problem selling your shares on to another family who want to invest in a luxurious property in the country.
If you're wondering if this is the right choice for you and your family, there are some considerations to factor into your decision. The main decision is how much time you intend spending in the country on an annual basis. If you only visit Italy for a few weeks a year, then this can be the answer you are looking for.
The final decision you need to make is your preference. Do you mind sharing a home with other owners, even though they will not be there when you are using the property? Would you prefer your own property where only you have use of it?