WHY ¼ share ownership properties are getting popular in today’s real estate market!
There appears to be a growing trend in our community for families to spend more time travelling closer to home and want the ease of a ‘turn-key’ condominium that they can call their own without having to purchase the whole property and pay the entire annual expenses.
We know that ‘Companies like Uber and Airbnb have disrupted the idea of ownership. While in the past owning a car and home was a point of pride, sharing living space, rides and goods have become the norm. There’s no surprise that this trend is set to pick up in real estate through the idea of fractional ownership.
The concept itself isn’t new; in the 1960s, the idea of ‘sharing’ ownership of a property gained popularity through timeshares, where multiple people could purchase a share of time at a property like a vacation resort.
Today’s idea of fractional property ownership, meanwhile, allows ownership of a property to be split among as many investors as desired, enabling access for some investors who may not be able to invest in a property otherwise.’ This was a blog viewpoint by FCT – legal professionals. Read the full article here: https://fct.ca/blog/why-fractional-ownership-is-the-future/
I’m personally finding that Fractional ownership can also extend to those trying to own a full-time home. It allows people to transition from renting to ownership. It can then become a stepping- stone to owning whole ownership in the future.
Would you consider fractional ownership? Let me know in the comments.