Fractional Homes For Sale Charleston SC | Interval ownership Properties Wild Dunes Isle of Palms SC
Most Americans only get a few weeks off from work and life throughout the year and that’s where fractional ownership homes work out best. Why own entire full property that you personally can only enjoy four maybe 5 weeks a year? Plus, now you are responsible for all the upkeep expense, taxes, HOAs etc. The main distinction between fractional (a.k.a. interval) ownership is that with a timeshare you buy the right to use a property, but with fractional ownership, you are buying real estate. Fractional ownership is not a time share. In a time share you don’t actually have ownership in the unit you simply own the time. It may seem the same but here is how fractional ownership is different. You get a deeded piece of real estate. With fractional ownership you also reap the rewards of equity growth or fall for that matter. Generally, the reason fractionals are used is to save money. In Charleston SC resort real estate where an owner only can enjoy their property a few weeks a year, fractional ownership is ideal because other owner(s) can share the upkeep expenses. Every fractional endeavor requires some sort of management, to administer the rules and regulations (which are agreed upon before the fraction is purchased) and maintain the asset to the degree laid out in the legal ownership documents. Each owner is guaranteed a prescribed amount of access to the asset and shares, intervals (fractions) are divided up almost like stocks. However, in real estate is it done in portions that fit within allotted weeks or months and not [necessarily back to back]. In Charleston SC there are 4 primary resort areas that offer properties in fractions: Wild Dunes & the Isle of Palms, Kiawah Island, Seabrook Island and Folly Beach.
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