Sun Park, Playa Blanca, Lanzarote
Ownquarter means exactly that. Own one quarter of the freehold property with three others. With the soaring costs of property many people are now buying their second homes this way. Although not a new concept, the Americans have been using it since the mid 1990's, it has started to become the way forward for Europeans as both an affordable way to purchase their holiday home abroad and a sound investment for the future. The biggest disappointment to most owners who have purchased a holiday home abroad is that they usually only use it for four weeks in the year. It then becomes a liability and it sits vacant for the remainder of the year, a whole 48 weeks, during which time the mortgage and the bills for the upkeep must be paid.
Remember, if you have a quarter share in your property, the annual running costs are carried by four of you and the weeks you do not wish to use can let out so there is no such thing as wasted weeks. From the investment side, you may not want to use the property for your holiday so all weeks can be let out. Usually the four owners agree on a fund to be paid into for the upkeep of the property which will ensure it is always maintained to a high standard on a regular basis therefore protecting your investment. As a quarter owner you can sell your share at any time but must offer it to the other three partners first. Should they not wish to buy it then you may sell it to whoever you wish. In today's economic climate where consumers want to make their money work for them, then quarter ownership is a particularly good form of investment.
Visit our website at http://www.ownquarter.com to find out more.
Photo:
http://www.prlog.org/
