Thursday, July 19, 2007

Hidden Cost in Aspen Fractionals

Beware of fractionals for sale that don't tell you clearly about a "club membership." A new development here in Aspen, CO, the Dancing Bear, is just a few holes in the ground but already lining up buyers. It is being sold as fractional deeded interests, but... deep in its Web site it reveals the annual cost of the "membership" -- not yet determined, but estimated at about $13,000=$15,000 per year. While that includes homeowner dues, it means that besides the $769,000 price of a 3-BR 1/12th ownership, you'll pay at least $2,100 a month for each month of use. Might be cheaper to rent.

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