The month of September typically marks the end of summer and the beginning of fall. As the weather cools and the leaves change, you might be tempted to make your summer last forever by purchasing a vacation home. However, you might feel some trepidation since the economic outlook hasn't been especially bright lately. Is it the right time to take the plunge? Will a vacation home cramp your lifestyle? And what about purchasing a fractional vacation home...is that a smart alternative?
If you find yourself on the fractional fence this fall, here are five reasons why vacation opportunities like The Élan Collection make more financial sense than you might think:
1. YOU WON'T BE LOCKED INTO ONE PLACE YEAR AFTER YEAR.
As much as you love skiing in Aspen every winter, sometimes you want to vacation in warmer locales like the Carribean or Sourthern California. Since The Élan Collection combines the benefits of fractional ownership with the advantages of a network of destination properties, Élan home owners won't be limited to vacationing in only one city. It's all about having "the option of exchanging guaranteed use rights," said Stan Tonkin, vice president of international marketing and sales of The Élan Collection. "It’s an attractive opportunity because Élan is not just another single residence fractional opportunity. For people looking to buy a vacation home in the current real estate market, it makes a lot of sense."
2. YOU WON'T HAVE TO WORRY ABOUT MAINTAINING A SEASONAL PROPERTY.
Vacation properties frequently sit empty for weeks and months at a time--but the beauty of going Élan is that the company manages all of the typical responsibilities associated with home ownership. You won't have to worry about regular maintenance issues like landscaping or cleaning the property, or more urgent issues such as a broken water main. "When you are away from your Élan home, you will have total peace of mind that the property is well taken care of," added Tonkin. "When you arrive, it will feel like you never left."
3. YOU ARE NOT TYING UP ALL OF YOUR FINANCIAL ASSETS IN A PROPERTY YOU WILL ONLY REALISTICALLY USE 4-6 WEEKS A YEAR.
If you've done your research, then you already know this is the No. 1 mantra for The Élan Collection and the fractional industry, in general. Since typical owners of vacation residences use their properties only four to six weeks per year on average, The Élan Collection is "a significant 'smarter buy,'" said Tonkin. "Our mantra has always been, 'You can enjoy the same realistic use you would enjoy with a comparable whole-ownership residence...but at a fraction of the price.' Plus, you can retain appreciation potential and enjoy club-level services and amenities."
4. YOU'LL HAVE THE BEST OF BOTH WORLDS.
You might be secretly pining away for that gated private villa by the sea, but there is also a part of you that still wants the ease of concierge services and amenities at five-star resorts. With Élan, you can vacation with absolute privacy in your 12,000 square-foot beachfront villa and still enjoy the five-star perks: 24/7 concierge services, travel accommodations, onsite luxury SUV, private chef and placement of personal items upon each visit.
5. YOU CAN FIND TOO-GOOD-TO-PASS UP DEALS.
Several market conditions make buying a fractional vacation home a smart move right now. For starters, the cost of fractional ownership is typically less than comparable resort or local daily rental prices. Vacation home affordability, in general, is also at an all-time high. While home prices have come down overall, Dick Ragatz, founder of the Ragatz Associates, observed earlier this year that the average price per fraction dropped around eight percent in 2009, compared with an estimated drop in the price of whole ownership vacation home prices of 20 to 25 per cent for the same period. And deals abound: for example, The Élan Collection is currently offering a special end-of-summer 15 percent off discount through October. (Email stonkin@elanprc.com for more information).
Can you think of any other reasons why it's a smart choice to purchase a fractional vacation home this year?
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