Have you been thinking about the alternatives to full ownership in Mexico? Do you like the idea of having a luxury second home but can’t afford the kind of place you would like to vacation each year? Full ownership of a property in a country like Mexico can involve a great amount of money and commitment, especially if you are looking for something luxurious. However, there are alternatives available like settling instead for a fractional ownership, where you get to purchase just a portion of it in a specific time frame. There are even memberships you can avail that last a long 25 to 30 years. It will all depend on your need and of course financial standing.
Let’s take a look at these great alternatives to full ownership in Mexico that can entirely change your vacationing experience.
Vacation Ownership and Timeshare Ownership
Perhaps, the most popular alternative to full ownership in Mexico is timeshare. The setup is that one purchases a week or more to stay in a particular property or resort. This concept lets one take a vacation on his preferred time in specified season mentioned on his contract. There’s even points-based program or the right to use a facility. One great benefit of this vacation ownership system is that you can get the enjoyment of spending time in your chosen resort with all the amenities laid out for you without the high costs of full ownership. You also have the freedom to choose the size depending on the number of family members you have. From studio type to a two bedroom villa, you can have the space you need to maximize comfort and luxury.
Fractional Ownership is a happy medium
Fractional ownership is sometimes confused with timeshare but in general it is a step up from vacation ownership. Genuine fractional ownership will give you the title for the fraction that you purchase in a specific property. Owners enjoy benefits similar to having full time ownership, but less the price and expenses attached to maintaining the property. When you choose to buy a fractional purchase, you end up only paying for the actual use, let’s say a month or two in a given year. Plush hotels and high-end resorts offer fractional ownership, and this can mean greater amenities and services on hand. One has to pay for a purchase price and of course your share of yearly maintenance fees.
Right to Use Destination Clubs
This is not purchasing a given property, but it’s having a right to use any facility under the care of the mother company. It’s a non-equity-based membership, where choices of different vacation homes give you a unique vacation experience every time. Destination clubs allow you to use their vacation properties on an average of a week to nine weeks a year. You can avail of the membership by paying a one-time membership fee and some reasonable charges while being billeted in the residence.