Last weekend, hubby and I got a long deserved night away on the coast. While there, we ran across what seemed to be an incredible opportunity to have access to a beautiful condo community.
They offer a unique take on the time share….calling the opportunity “fractional ownership”. The view from Pacific City intrigued me enough that we went on a tour.
There is something to be said for arriving in a timeshare, with every possible amenity and fully stocked kitchen. With Travertine floors and granite countertops, this place was a gorgeous place I could really see myslef relaxing in. The price? $80,000 for one set week, and two floater weeks per year. The set week was in the summer, and the rest could be negotiated. We would share a specific unit with 16 others, and the property could be deeded or sold by us at any time. I walked away thinking about how nice it would be to have Thanksgiving dinners on the beach in our 3 bedroom condo with the fabuloso view.
I now know why they usually want you to sign on the dotted line immediately….so you don’t have time to think. On the way home, I did the math:
$80,000 initial investment +$4000 annually ownership feesX 10 years of ownership = $120,000
Now, divide $120,000 by 210 (10 years X 3 weeksX7 days) and you get: $571.43 per night….. I could stay a weekend at a NICE resort for that price!!
So…so much for the beach cottage!!