Is shared ownership the same as fractional ownership?
Fractional ownership and shared ownership are the same thing. You own a share in a property in France – or anywhere, but this blog is about France. It’s an ideal way to have a vacation home in France. Your share entitles you to use of the house for a specified amount of time each year. Not the same time each year, it rotates so everyone gets a chance at each season.
Shared ownership is not a time-share
With fractional ownership you own a share in a company that owns the house. The owners share equally in the use and costs of the property. Shares are limited – could be 2 to 20 shares – it depends on the property. It makes no sense to have 20 shareholders in a two bedroom house. It could make sense to have 20 shareholders in a company that owns a chateau that has been converted into apartments.
Property share in the Aude
We just listed a lovely stone house in the Val de Daigne in the Corbieres. It’s reference 3195. It would make an ideal shared property. Low maintenance, lovely area. Shares would be about 40,000 euros. Not bad for a vacation home in the Aude.
Why would I want to buy a share in a property?
It’s such a good idea. You get your holiday home in France with minimal hassles. You don’t have to worry about the house being empty for much of the year. You don’t have to try and find people to rent it when you aren’t using it. You don’t have to spend your vacation fixing stuff.
Fractional ownership of property in France is ideal for people who live on other continents
If you live in Australia, or South Africa, or Canada or the US and dream of owning a house in France it’s can be a daunting prospect. You have to be really determined. Air fares are high and the trip is long. Unless you’re retired or have a really flexible job you probably can’t make the trip more than once a year – twice at the most. That’s a big investment.
8 or 9 years ago it was feasible to rent the house as a gite when you weren’t using it. There’s such a glut of rental properties now – everyone thought it was a brilliant idea – that it’s difficult to find people to rent your house.
Property share is a viable alternative. You can still rent you time if you want. You can sell the shares if you decide to. And it’s a much more reasonable investment.
Club Propertyshare is an Australian site about co-operative property share. They have a good FAQ section – no point in me reinventing the wheel. Read about fractional ownership. If you’re interested in property share in the Aude please email me and I can point you in the right direction.