[MandoMan]

Originally Posted by Iowabuddy

We live in the Orlando are and are seeking one (1) 50% or Two (2) 33% partners to purchase a vacation home in The Villages. Also open to current home owners willing sell a % of their current home.

Fractional ownership is perfect for snowbirds or anyone seeking a second home who doesn’t want to purchase the entire home as they will not utilize it full time. We would agree on usage, with each partner responsible for their share of the cost of the home. We are flexible to the days we would utilize the home, are responsible, clean and pet friendly.

What a perfect way to purchase a home that you’ll not utilize full time! We still work full time in the Orlando are and are desiring a second home we could utilize in The Villages.

Sounds like a scam. Caution!

[Ohiogirl]

I think this could work between close, compatible friends or maybe in-laws who have perhaps taken many vacations together and did fine, and maybe also able to use it at the same time. But would never take the risk to do this with strangers. But - why not buy on your own (maybe smaller and cheaper than you would prefer) and rent it out as much as possible when you are not using it? There are no rules about renting here - it is totally up to the homeowner. I think there might be a demand for short term rentals during the season especially, which could suit the original poster.

[Judy n Ron]

Originally Posted by graciegirl

Hmmmmmmmmmmmmmm.

One of the things I love about The Villages is the level of care seen by homeowners to their property. I am thinking that Fractional Ownership would not be on that level.

In fact...I read this and tend to agree;

"With so many owners, stays are infrequent and short and upkeep and care is left to a paid person. As a result, there is little emotional connection between the owners and the property. The lack of “pride of ownership” promotes an apathetic attitude toward the property. The high traffic through the unit also means more wear and tear."

While I agree that the vast majority of owners do use diligence to take care of their property, there is an alarming trend toward unkempt homes and lots. Grass growing up through the shrubs, horrible mildew on the driveways, concrete drains and walls and curbing, grass dams preventing water run off to the culverts. While it's not excusable for snow birds to allow their properties to go to seed, it's particularly questionable for full time residents to treat their neighbors to unsightly homes. We're thankful the all neighbors within eye shot of us take great care. It would be tough to sell a home next to an "unkempt" property. Please actually LOOK at your home when you drive up. Ron.

[Bogie Shooter]

Originally Posted by Judy n Ron

While I agree that the vast majority of owners do use diligence to take care of their property, there is an alarming trend toward unkempt homes and lots. Grass growing up through the shrubs, horrible mildew on the driveways, concrete drains and walls and curbing, grass dams preventing water run off to the culverts. While it's not excusable for snow birds to allow their properties to go to seed, it's particularly questionable for full time residents to treat their neighbors to unsightly homes. We're thankful the all neighbors within eye shot of us take great care. It would be tough to sell a home next to an "unkempt" property. Please actually LOOK at your home when you drive up. Ron.

VCDD Community Standards

[writerslife]

Don't do it. Purchase your own home here. You don't need the complication of a potentially deadbeat business partner who doesn't hold up their end of the bargain.

[eweissenbach]

I never get tired of posters telling people what idiots they are for considering something. There are so many experts on everything that it is a wonder people don’t come here for marriage counseling, legal advice or any other important milestone in their life. We considered co ownership and not because we couldn’t afford our own place, but because since we were both (Couples) going to be seasonal residents it just made sense to split all the costs, and because we got along so well. I personally, would not consider doing it with a stranger or strangers, and would be sure to have everything spelled out in a legal buy/sell agreement before any money changed hands.

[Cheryl Barrios]

My thoughts/questions - Would TV treat both couples as owners in a single-family residential area? Would both owners be at TV in the same months? I have read that when you lease your home that you turn in an ID so that an ID can be issued to the person leasing/renting your home. I'm not in TV yet but will be in 30 days so I don't know if that is accurate or not. I am presuming that if this is a rule of TV it is so there is not double dipping on the fees. If I was considering it, I would want to make sure that all four people could play golf at the same time if they want.

[Bogie Shooter]

Originally Posted by Cheryl Barrios

My thoughts/questions - Would TV treat both couples as owners in a single-family residential area? Would both owners be at TV in the same months? I have read that when you lease your home that you turn in an ID so that an ID can be issued to the person leasing/renting your home. I'm not in TV yet but will be in 30 days so I don't know if that is accurate or not. I am presuming that if this is a rule of TV it is so there is not double dipping on the fees. If I was considering it, I would want to make sure that all four people could play golf at the same time if they want.

Mentioned in an earlier post....up to 4 names in deed with full amenity privileges.

[Bjeanj]

I agree that, unless you have known the person for many many years, this could turn bad fast. Iron clad contracts can end up in court when one of the signers wants to get out of it, or comes up with a situation not covered by the contract. And if it ends up in court, I think the property would go to seed in the meantime.

Speaking as a full-time resident here, I don’t care for people thinking of The Villages as a “resort”. This is my home now, and I have gotten to know my neighbors well. For “transients” (yes, this includes renters) or part-timers with less at stake, I have seen people come in for a short period of time and party like this is a resort, drink to excess, and/or drive around laughing, screaming, and dumping trash on the cart paths. Then they leave.

A fractional owner, in my opinion, is even less desirable than a renter.I recognize that not every renter does this, but I think many of us have seen this behavior, so don’t reply telling me not everyone does this. I know that.

This is my opinion. If a fractional owner moved in next to me, I wouldn’t want to get to know them, because they aren’t here long enough to establish a deep relationship with their neighbor. If a neighbor rented their home to the same person on a regular basis, I would be able to get to know them.

Again, this is my opinion.

[Worldseries27]

Originally Posted by iowabuddy

we live in the orlando are and are seeking one (1) 50% or two (2) 33% partners to purchase a vacation home in the villages. Also open to current home owners willing sell a % of their current home.

Fractional ownership is perfect for snowbirds or anyone seeking a second home who doesn’t want to purchase the entire home as they will not utilize it full time. We would agree on usage, with each partner responsible for their share of the cost of the home. We are flexible to the days we would utilize the home, are responsible, clean and pet friendly.

What a perfect way to purchase a home that you’ll not utilize full time! We still work full time in the orlando are and are desiring a second home we could utilize in the villages.

i'd rather live in the

smallest cottage

than this

arrangement

[Smalley]

The only situation of shared ownership that I am familiar with was withing an extended family. Three couples each bought one third. Overall it was a success but I heard second-hand of disagreements among the parties and the difficulty of sorting it out. For example, "I think we should remodel the kitchen". "We should replace the carpeting" etc. This group was very cooperative on splitting up the time but I believe that could become a source of frustration as well.

[Fredman]

What a great way to make friends your enemies

[eweissenbach]

Originally Posted by Fredman

What a great way to make friends your enemies

Unless you have true, trusted friends who share your values and tastes and you are flexible, easy going, and agreeable. We have such friends.

[CoachKandSportsguy]

Originally Posted by eweissenbach

I never get tired of posters telling people what idiots they are for considering something. There are so many experts on everything that it is a wonder people don’t come here for marriage counseling, legal advice or any other important milestone in their life.

I almost typed the same point, because the original poster ask if anyone was interested, not what anyone's opinion was about doing something. Goes to the neighborhood bar conversation because we don't want to go to the neighborhood bar at the moment.

[shut the front door]

Originally Posted by CoachKandSportsguy

I almost typed the same point, because the original poster ask if anyone was interested, not what anyone's opinion was about doing something. Goes to the neighborhood bar conversation because we don't want to go to the neighborhood bar at the moment.

Amen. That's why these threads drag on for 3 pages, with a dozen repeated answers (because apparently nobody here actually reads the reply before their trigger finger goes nuts).
OP asked a simple question, and 3 pages later, nobody has answered it. Just 3 pages of pearl clutching keyboard warriors who are all legal and real estate experts in their own minds. The paranoia here is really sad.