Whitestone Residences : Sanctuary : Fractional Ownership
Fractional Ownership Program
Why Fractional Ownership?
Statistics show that owners use a second home only 30 days a year on average. Perhaps this is why fractional ownership is the fastest growing segment of the leisure real estate market. NorthCourse Leisure Real Estate Market reports a 270% increase in fractional ownership sales from 2003 to 2007, and it continues to rise. A person can buy a fraction of the house for a fraction of the cost, yet use the whole house for a vacation retreat. Additionally, fractional ownership allows the buyer to afford a much nicer home than he could purchase with whole ownership.How Does Fractional Ownership Work?
Deeded fractional ownership of a Whitestone Retreat residence includes the right for owners (members of the Whitestone Retreat Residence Club) and their guests to spend a guaranteed number of days in residence each year. Highlights of the program are:- Fractional ownership qualifies for traditional home financing. The property belongs to the owner in perpetuity, appreciates in value, and can be bequeathed to heirs, placed in a trust, or sold.
- Fractional interests in a particular house are sold in 1/8 units. A point system allows the club members flexible use of their retreat residence. To maximize scheduled usage flexibility, Residence Club members will have access to several houses in the Sanctuary at Whitestone. Multiple residences can be used by Residence Club members at one time (concurrent usage) allowing for experiences like family reunions and small group retreats. Bonus time is available for additional rental.
- Club members and their guests have privileges in using the Whitestone community amenities.
- The property is conveniently managed and maintained by Whitestone Hospitality Services. No need for owners to clean gutters, make repairs, stock toilet paper, or mop floors. Even paying the bills is included.
- Club members can gift the use of their residence to friends and family, or earn rental income to reduce expenses for the retreat by placing it in the Whitestone Hospitality Services central reservations system for others to rent. Rental income is split with Whitestone Hospitality Services.
- We anticipate enlisting in a vacation exchange program. Owners will be able to exchange points to vacation at other participating resorts.
Sound interesting? Please contact our sales office for more information:
Phone: 865-376-0113 or 888-247-2464
Email: salesinfo@whitestoneinn.com
