Fractional Ownership Isn’t a New Concept…
Fractional ownership started in 1986 when a company called Net Jets started selling ‘fractions’ of airplanes. Today, they’re the 5th largest airline in the world - an airline that serves the travel needs of the rich and famous.
By 1998, there were 4 companies selling fractional jets, servicing thousands of owners.
Recently, companies have begun fractionalizing other ultra-luxury items such as boats, yachts, classic cars, RVs, racehorses, art, and even designer handbags and jewelry. Perhaps one of the most creative examples of fractional ownership exists in the sale of vineyards in France and South Africa.
When Did Fractional Real Estate Start?
Families and friends have been doing informal fractional ownership for many years. They would simply share ownership in a second home, usually a vacation home. In 1994, the first formal fractional real estate property became available to the consumer.
Today, there are 275 real estate projects with over 50,000 fractional owners.
So, Who’s Buying Fractional And Why Are They Buying?
The luxury fractional buyer can easily afford to own a second home. However, most are extremely busy people who want to enjoy vacationing in a second home, but they don’t want the hassle of home maintenance. They’re people who want to show up, unlock the door, enjoy quality time with friends and family and then head home.
They buy fractional to spend their vacations making lasting memories, not cutting the grass and painting shutters.
The fractional buyer looks at travel and second home ownership as a way to reconnect with friends and family and view a fractional residence as a place to celebrate life’s landmark events.
It’s Really a Lifestyle Choice
Fractional ownership is a lifestyle choice that’s been enjoyed by the very wealthy for many years.
It’s now available as a luxury ownership option at Deep Creek Lake. If you’re looking for luxury, convenience and a place to build lasting memories with friends and family, then contact us today to learn more about Second Homes at Deep Creek Lake.