There are a number of short-term rental complexes in Canmore (like the Solara Suites) that offer units with fractional ownership. But what exactly is fractional ownership, and how does it work? Spoiler, it doesn't work the same way a timeshare does!
Fractional Ownership vs. Timeshare
Both fractional ownerships and timeshares entitle you to use the property you're buying into for a certain amount of time, ranging from one week to a month or longer. The major difference between the two is that when buying into a fractional ownership, you are on the property's title, whereas with a timeshare, the title remains with the property owner - you are essentially renting the property for all intents and purposes.
With fractional ownership, as a buyer, you actually own partial equity in an asset that has value. As the value of the property appreciates, your equity also appreciates, meaning you could have a capital gain when selling the property (even after benefitting from use of, or renting the property for income).
In the case of a 1/12 fractional share, you will be entitled to use the property for one month a year on a weekly rotating basis. You own a fraction of the suite along with the other owners.
How Does a Rotation Work?
As a fractional owner, you will be entitled to use the property for one month a year on a weekly rotating basis. You own a fraction of the suite along with other owners, and you pay a portion of the monthly maintenance fees and property taxes based on your percentage of ownership.
The month is divided into 4 separate weeks (which run from Friday to Friday.) This would give you the opportunity to visit Canmore for one week in each of the four seasons, or rent the property through a rental pool to generate income - the choice is yours!
Experience ownership at a fraction of the cost!
Purchasing an investment property in Canmore is not an easy thing to do - units are expensive, can be difficult to finance, and inventory is limited. Purchasing a fractional unit allows you to experience the benefits of owning in Canmore without the price tag of a full ownership unit.
Here is your chance!
If you've been waiting for an affordable price to own a Rocky Mountain view, then we have a great opportunity for you! This is your chance to experience mountain life in a penthouse suite at the Solara Resort & Spa for one month each and every year, and one week during each season. Put on your hiking boots this summer, strap on your skis this winter, and enjoy the best of the Bow Valley all year round!
This two bedroom, two bathroom unit comes fully furnished and promises all of the sleek mountain finishes you would expect in a luxury condo. Spacious enough to bring family and friends, while still having room to escape and relax. Enjoy the view from the most spacious covered balcony has to offer.
Looking for more information on 413-173 Kananaskis Way? Contact us today for more!