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I will be using my vacation home for only 6 weeks out of the year, what can I do?
 
I will be using my vacation home for only 6 weeks out of the year, what can I do?

There are several routes you can take to make optimal use of your investment or to minimize your investment in Aspen or Snowmass real estate in the first place.

1) Consider renting you second home for the time you or your friends and family do not plan to use the property. This additional income will help you offset the financing or time value of money cost you incur by owning the property. Be aware that opening up your property to rentals offers opportunity and risks. If you are thinking about rental or investment property or just want to offset your expenses talk to me about what you can expect or what risks are involved.

2) Consider owning fractional properties. don’t confuse fractional ownership with a time share. They are similar but differ in at least one major point. With fractional ownership you will own a deeded interest in a specific property. You can own from half shares in a single family home to just a few weeks in one of Aspen’s many luxury fractional condominiums.
You will pay maintenance which includes the upkeep of the property and taxes etc and will have guarantied use of the property for a pre determined time. This can be floating weeks or the same fixed weeks every year. It will cost you a fraction of the cost of owning the same property fee simple.
 
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