|
|
|
|
|
|
- How much time will I have at my home?
- Can I stay at my home when it is not my time?
- Can I sell my On Ocean’s Edge property?
- Can I loan or rent my home to my friends or family?
- Can I decorate or leave my personal items at my home?
- Are smoking and pets allowed in my home or vehicle?
- How is On Ocean’s Edge shared ownership different from timeshare and other interval options?
- With shared or fractional home ownership, the amount of time you spend at your second residence depends on the fraction you purchase. On Ocean’s Edge properties allow you to purchase a fraction between 1/4, 1/6, or 1/12. When you purchase a 1/12 fraction, for example, you are purchasing 1/12 of the share of your holiday residence and 1/12 of the year to enjoy it. This allows you four weeks to use your vacation estate each year. When your interval is scheduled depends on you, the fractional home you choose and the preferences of your fellow owners.
- On Ocean’s Edge is committed to ensuring that your vacation home is available when you want it. If you would like to use your shared property when it is not your time, or change your interval to another part of the year, your concierge may be able to make arrangements with another owner to trade their time for yours. If your shared home is occupied when you want to visit, your concierge can arrange for you to stay at another On Ocean’s Edge fractional property if one is available.
- Yes. Like all other forms of real estate, your share of your fractional property can be sold or transferred to another person under your ownership agreement and local real estate laws.
- Yes. You can loan your time at your home to friends and family. Simply inform your concierge in advance that you will be loaning or renting your home and ensure that your guests are aware of the rules and regulations of your property.
If you would like to rent your property during your time, you may place your property on an international exchange using your vacation exchange program. This way, you can gain credits for a vacation at an international resort or collect an income when you are not travelling.
- On Ocean’s Edge properties are fully-furnished and decorated by professional interior designers. To make your home more personal, you can bring your own items, such as family pictures, cushions and other removable decorations.
As an owner, you receive a heated, secure storage area for equipment or belongings that you would like to leave at your home. While you’re away, your personal belongings will be brought to your area. Before you return, your concierge can have these items placed where you left them, as if they were never moved at all.
- On Ocean’s Edge is committed to providing its owners with a perfect experience every time they stay at their other home. In order to maintain the level of quality our owners expect, smoking and pets are prohibited in all homes and vehicles unless otherwise agreed upon by owners of your property.
- There are a number of differences between On Ocean’s Edge shared ownership and timeshare. Here are five major differences.
- On Ocean’s Edge shared ownership provides more time and flexibility
On Ocean’s Edge shared or fractional ownership properties provide you with four to eight weeks that you can spend at your home throughout the year. Many timeshare properties offer only one or two weeks every year that must be used during the same season.
- On Ocean’s Edge shared ownership provides you with a deeded share in your property
On Ocean’s Edge owners receive a deeded share that involves the same rights as any other real estate purchase. Your shared residence ownership continues in perpetuity until you sell your vacation home, rent it or pass it to another person.
- Fractional ownership properties are more likely to appreciate in value than timeshare properties
Shared fractional properties are more exclusive than timeshare properties. Fewer developments, increased value and amenities and excellent resale opportunities have made these vacation residences an increasingly popular option for home buyers. Oceanfront properties in Newfoundland and Labrador, Canada are also highly desirable. For this reason, it is probable that your On Ocean’s Edge property will appreciate over time. Timeshare properties, in contrast, are abundant and lower in value. As a result, have historically experienced poor resale rates.
- On Ocean’s Edge shared homes are larger and have more space and privacy
Shared ownership properties such as On Ocean’s Edge are generally larger than timeshare properties, with more overall square footage and more bedrooms and bathrooms. On Ocean’s Edge properties are large, spacious, stand-alone homes with a great deal of privacy, while timeshare residences are normally attached hotel suites, apartments or condominiums. Click here to see our floor plans.
- On Ocean’s Edge shared ownership properties offer more benefits and amenities
On Ocean’s Edge shared ownership properties provide you five-star, personalized concierge services, a fully-equipped vehicle and a secure, heated storage area to keep your sporting equipment and personal belongings at your home all year round. To ensure you enjoy the service of a luxury hotel at your own private oceanfront villa, our concierge service is offered in partnership with the lavish The Peninsula Hotel and Spa.
Timeshare owners do not usually have a concierge or vehicle and must pay a fee for storage if any is available. Click here to learn more about benefits at On Ocean’s Edge.
If you have additional questions and would like to learn more about On Ocean’s Edge fractional properties, please contact us.
|
|
|
