Many of us would like to have a vacation home at the beach. For some though the cost of owning may still be out of reach and the time you would be able to use it may not be that much. If you fall into this category, you may want to consider owning a partnership.
Partnerships are different than timeshares in that you own a portion of the condo/home. It’s yours to buy and your’s to sell, so in a way it can be looked at as an entry level investment. The most common partnerships we see here on the Isle of Palms and in Wild Dunes typically are for 4 weeks out of the year. However you can also find them for 8 weeks or more.
The majority of the partnerships are found in condos and typically sell anywhere from $80,000 to $350,000 depending on it’s location and number of weeks you would own. Other cost you may occur include HOA and regime fees that are divided between all the owners of that particular parntership.
The advantage here is now you have your foot in the door, you have a place to use for vacation you are familiar with, and you are not spending the money of full ownership for a place you only use a few weeks a year.