Own for a Fraction of What You'd Expect1/11/07
BIG SKY, Mont. - Why own a vacation home in full when it's only used a few weeks of the year? A new fractional ownership program by Big Sky Resort makes it possible to afford vacation property based on the amount of time a resort residence is typically used. Not to be confused with timeshare, fractional real estate is deeded property, but with multiple owners. At Big Sky, one-eighth share ownership is now being offered in two different well-known developments: Village Center One and Powder Ridge Cabins.
Those who purchase an eighth share have use of their unit six weeks a year, including two weeks in summer season, two weeks during winter season and one week each during spring and fall on a rotating schedule. Use of the property may mean actually staying in the unit to enjoy Big Sky's recreational opportunities, but owners have other options for utilizing that time as well. Those weeks may be managed by Big Sky Central Reservations to earn rental income, or the time may be converted to points for vacation exchanges through the Boyne Vacation Club and its affiliation with Interval International. Any combination of these arrangements is also possible. It's very likely an owner would come to Big Sky for a week to ski and then use remaining time in points toward a beach or golf vacation.
Statistics indicate that most vacation property owners stay in their resort homes or condominiums an average of 20-30 days per year. Fractional, or shared ownership, provides plenty of time to visit, but also reduces the up-front financial commitment. It is a concept that is catching on worldwide with approximately 200 properties including the Marriott Grand Residence Club and Ritz Carlton Club brands. Also known as "private residence clubs" most properties are located at ski and golf resorts and offer upscale amenities and services.
Village Center One, the new building underway in the core of Mountain Village, is scheduled for completion in late 2007. An eighth share of one of its one-bedroom, two-bath 700+/- sq. ft. condominiums is listed at $149,000. Owners are served by the secure lobby and ski valet and are able to walk right out the same level to the slopes. Units have fine finishes and quality amenities such as large screen flat panel televisions and internet access.
Nestled in the woods near White Otter Lift are the Powder Ridge Cabins. The model being offered under fractional ownership is a 3,334 sq. ft. "Homestead" 5-bedroom, 4-bath with attached garage. Features include quality construction by Rocky Mountain Rustics, hand-hewn finishes, gourmet cook?s kitchen appliances and outdoor hot tub on private deck. Whole ownership for this type of unit lists at $1.6 million+, but one-eighth share is only $269,000.
These Big Sky Resort fractional ownership projects are listed exclusively with Big Sky Properties, Inc. 406-995-2000.Back To Press Release Archive