Boomers Retire to Better Nests

Better Nesting or Besting is a new trend for Baby Boomers. Fractional ownership is playing a role in this generations ability to live a higher lifestyle at a lower cost.

Calvin's passion is skiing. His business is growing, as is his family. He is a late boomer, with years to retirement, but already he knows that one home in retirement will not satisfy his love of travel. There is a short list of places he might want to retire to, but they all have high price tags, and if history is a guide, they will double or triple in value again before he is ready to be there for more than a couple weeks at a time.

"Owning a place in Summit County, Colorado was the initial dream, but a basic condo there costs $ 1 million. We could afford it, but it simply did not make good financial sense" Calvin said.

Small business people learn to make good financial sense, and they are also typically open to new business opportunities. Calvin met a local Realtor who showed him how to buy a whole $ 1.02M condo and sell off quarter shares, or 25% ownership interests. The Realtor handled all the heavy lifting of legally structuring the fractional interests, and finding the buyers at $ 339,000 per ¼ share. By selling 3 shares - 75% of the properties use time and ownership - Calvin and his family were left with a quarter share for their own use with little to debt or cost. 13 weeks of vacation ownership in Vail.

"We try to go once every other month, at this point I can not use it all the time we own, so I share it with friends and occasionally rent it out. We have a management company so it is truly a hassle free investment for us. "

The deeded quarter share interests can be resold independently of the other owners, so the value of the fractional ownership interest rising with local property values. The Vail Valley has appreciated at double digit rates since the late 1990's.

Is an expert this from a new book Called: 'Besting - Better Nesting' Http://www.betternesting.com That will change the way by real estate professionals view the second home market.

Source by Bob Waun