Ask a Broker: Is now a good time to buy a fractional residence?
Ask a Broker
We take a ski vacation every year, usually staying in hotels or an Airbnb. As our family grows, we’re ready to put down roots in one area, and we’re considering buying a fractional residence in Beaver Creek. Is now a good time? And, is a fractional home a good idea with a growing family?
Yes and yes.
The 2020/2021 ski season looks a lot different than in year’s past, but that hasn’t slowed the sales of fractional residences in Beaver Creek. In fact, it has increased the demand. Many of our existing owners are adding more weeks to their ownership so they can spend extra time in the mountains. We also have a lot of interest from buyers who are new to fractional ownership or new to Beaver Creek.
Fractional ownership opportunities in this area are quite different than many other destinations. In most parts of the country, people will sell their fractional interest after one to three years and move on to a different destination. But 80% of the people who buy in Beaver Creek consistently return year after year, making this a great location to put down roots.
Purchasing a fractional can be a good introduction to Beaver Creek. It’s a more reasonably priced way to test out the area and see if you and the kids like it. We have clients who had a fractional for years and then moved on to whole ownership, purchasing a single-family home. And some of them even keep their fractional residence for when they have extra visitors.
Pricing for fractionals can vary from $5,000 to $225,000 depending on the week of the year you visit and the size of property you buy. The most popular times of the ski season for families are Thanksgiving, Christmas and spring break. But if those don’t work with your schedule or price range, you can choose another time. You may already have a tradition of taking your ski vacation at a certain time each year. No matter the week, there are options, and you’re sure to find a place that you and your family will love returning to every winter.
A family-friendly resort
Beaver Creek is a great resort for families, boasting a range of amenities and activities in the village and terrain for all levels on the mountain. The winters here are absolutely wonderful. But, as we like to say, people come here for the winters; they they stay for the summers. During the warmer months in Beaver Creek, there are plenty of outdoor activities the whole family can enjoy, such as horseback riding, mountain biking, fly fishing and hiking.
With a fractional property in Beaver Creek, you get 10 extra float days outside of the winter months or you can purchase only summer weeks if you prefer the warmer temperatures. With these extra days, it may be a good time to start a new family tradition — a summer trip to the mountains.
A fractional is the most ideal option for a growing family because it’s worry-free. Once you find the place you love, you’re set. You don’t have to spend time on review sites, sorting through the pros and cons of a certain hotel or rental property. You know what to expect each time you visit. It’s cleaned before your arrival and after you leave. Plus, fractionals come furnished, so you don’t have to go through the decorating process necessary if you buy a single-family home.
The beauty about fractional ownership is, as your family begins to grow and/or you want to include extended family, you can always pick up extra units during a visit. We’re seeing a multi-generational trend as of late where grandparents are picking up one or two fractional residences during the same time as their kids and grandkids are visiting. Or they’re picking up some extra weeks and encouraging their families to join them for a ski vacation. This may feel like a safer option than a hotel or an Airbnb. Having more control over one’s own space during vacation is a new pandemic-inspired priority.
As you’re weighing the decision on whether to purchase a fractional ownership, we hope you’ll consider the above benefits. This type of ownership isn’t for everyone, but we think it’s a great option for a family that is just starting out and looking to put some roots down in a fabulous mountain town.
The Beaver Creek Vacation Ownership Team with Slifer Smith and Frampton has one of the most successful on-site resale offices in the country working with both buyers and sellers. Their office located in St. James Place has been serving the needs of both vacation and full ownership clientele for 38 years. With a combined 118 years of experience and over $3 million in timeshare sales this year alone, this team is the strongest and most knowledgeable source for your real estate needs. To learn more about the team, visit beavercreekfractionalownership.com or email BeaverCreekVacationOwnership@slifer.net.
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