How to Tell Timeshare from Fractional
Not quite sure of the difference between various "shared ownership" vacation home plans? Today's New York Times has a very helpful article about this. A "timeshare purchase is typically a week, whereas a fractional purchase is usually three or four weeks. The luxury versions of fractionals are private residence clubs, defined by industry analysts as any residence selling for more than $1,000 a square foot and offering amenities like a private storage facility, daily housekeeping and concierge services....Timeshares and fractionals are usually deeded and can be bought, sold or passed from one generation to the next....Timeshares can cost about $10,000 to $50,000," says one expert. Another says "fractional prices range from $24,730 to $70,435 a week; annual maintenance fees range from $5,410 to $8,700."