We will gladly share the financial details about your home of interest, including investment, expenses and potential rental income. The purchase price, financing options, home expenses and potential rental revenue vary by home
Purchase Price of Ownership Interests
Depending on the home and your ideal ownership stake, ownership interests range from $100,000 to more than $1 million. Generally, an investment of $250,000 will enable a family to become co-owners. This gives you approximately 35 days to use in your new vacation home. Please note, this varies per home.
Financing for Fractional Ownership
Elite homes available for fractional ownership often include a mortgage option, and qualified owners may elect to finance up to approximately half of their purchase. Terms of this financing vary by property and by geography. We will be happy to share details once your interest and suitability for a given home have been determined.
Operating expenses vary widely based on the home, location, ownership stake and financing. Once we mutually determine whether our Elite model is a good fit for your goals and needs, we will be happy to share details about annual carrying costs for specific properties that appeal to you.
In addition to personal enjoyment of an Elite Destination Home, owners can defray expenses associated with ownership with rental revenue. Elite’s Reservations Team will market available weeks on your behalf to offset your carrying costs of ownership. Elite doesn’t charge commissions on the rent we generate for our fractional owners – we pass it all through to you. Please know we are just as pleased if you enjoy your home for the entire time that corresponds to your ownership interest, with no rental activity.
Financial Management of your Home
Elite provides experienced, professional financial management of your home including budgets, rental revenue projections, occupancy tax collection, bill payment, account reconciliation, financial reporting and year-end tax document preparation. Budget and rental revenue projections are prepared annually. Income and expense reports are prepared and sent quarterly to keep you up-to-date on the financial status of your property.
An Exciting Lifestyle Choice
It’s important to note that Elite Destination Homes are primarily intended for the enjoyment of owners, friends and families. Given the volatility of the global real estate market, we cannot make guarantees concerning fluctuations in the value of any given property. That being said, our properties are magnificent and in outstanding locations, both of which favor value appreciation in the long term.
We will gladly share the financial details for any Elite home you may be interested in. Contact us.