Why home co-ownership is better than a timeshare
We're often asked what the difference is between co-ownership and timeshares. On the surface, co-ownership of vacation property might appear not too different than that of a timeshare. But in reality, they are worlds apart. When you purchase a timeshare, you are literally buying a slice of time to use the property.
GRAATIFY's model of luxury vacation home co-ownership is definitely not a timeshare, it’s true real estate ownership (but without all the hassles). A timeshare is almost always a unit at a hotel or condo complex usually outfitted with hotel-style furniture. GRAATIFY customizes each vacation property with exceptional furnishings, modern amenities and extra personal touches that ensure your vacation home is a place you’ll feel relaxed and comfortable.
One of the biggest differences between co-ownership of a luxury home and a timeshare is what you actually own. When you co-own a luxury home, you own a true real estate asset. Your share is real property, not simply a block of time. And because it’s a real estate asset, its value will move with the market — which means that any equity realized is yours.
When you purchase a timeshare, you typically own the right to use the property for a period of time, not the property itself. That’s why you can’t usually get a conventional home loan to purchase a timeshare — there’s no “home” as collateral, only time. Lastly, because a timeshare is not a real estate asset, you are likely to see the value depreciate, much like a new vehicle begins to lose value once it’s driven off the lot.