What is fractional ownership?

It is a form of carefree, shared cottage ownership. At Wolfe Springs Resort, you can purchase as many 1/10^th shares as you wish of a furnished luxury vacation villa. With a 1/10^th share, you get an undivided share of the entire property and facilities.

 

Why is fractional ownership superior to full ownership?

Cottage ownership can be an expensive proposition. A luxury waterfront cottage can be a sizable investment and the carrying costs of mortgaging a cottage can make the investment out of reach. Along with the costs of purchase, you have operating costs such as waterfront property taxes, ongoing maintenance, insurance, etc. As well, even though the costs of full ownership continue 12 months out of the year, few people can actually enjoy the investment for more than a limited time period. With fractional ownership, you only purchase the time you actually spend at your luxury vacation villa.

 

What is the financial benefit of fractional ownership at Wolfe Springs Resort?

Wolfe Springs Resort is a one-time payment from $59,900 with annual payments for taxes, insurance, reserve fund contributions, and maintenance of approximately $2,000 - $2,200. With the average price of standard waterfront cottages (with year-round land access) in Ontario being $469,500, it is obvious why families are choosing to be part of fractional developments.

 

 

 

 

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Why is Shared Ownership a great alternative to cottage rental in Ontario?

Cottage rental is always a bit of a risk. Your experience is trusted to a stranger with a limited track record and little accountability. Wolfe Springs Resort is there for you year after year, built and managed by professional developers and a Property Management team with over 20 years experience.

 

How often can we use our luxury vacation villa?

Each interval purchased entitles you to five (5) weeks of exclusive use every year. You choose your specific villa and the prime summer week that you want to spend at Wolfe Springs Resort and that villa (and the corresponding prime summer week) are yours forever. Your remaining four (4) weeks are divided amongst the Fall, Winter and Spring seasons including one additional bonus week.

 

How are our remaining four (4) weeks of use chosen each year?

The four (4) non-summer weeks will be reserved by you annually in October for the following year. Your order of choice is determined at the time you purchase your Interval(s) and rotates one place each year to provide each Owner with the certainty of equitable holiday planning.

 

Is it possible to have 2 weeks back-to-back?

Absolutely! You have two potential options to achieve back-to-back “warm-weather” weeks at Wolfe Springs. The first is to buy more than one share and lock in your Fixed Summer Weeks together. The second option is to select Fixed Week 1 or Fixed Week 10 upon signing. This will enable you to obtain two weeks in succession as the owners of Fixed Week 1 in the Summer season will have guaranteed use of Week 10 in the Spring season. Similarly, the owner of Fixed Week 10 in the Summer season will have guaranteed use of Week 1 of the Fall season that immediately follows.

 

How long will we own our luxury vacation villa?

Forever.

 

Can we loan our luxury vacation villa to friends or family, or rent our villa?

Yes. If you are unable to use your luxury vacation villa, you can let your family or friends enjoy it or rent it to members of the general public on your own. You must, however, provide management in advance with the names of the individuals that will be occupying your villa and, of course, your renters would have to be good neighbours and abide by the association rules. Should you wish to avoid the effort in renting out your villa, for a nominal fee the Wolfe Springs Property Manager will be happy to assist you in this regard.

 

Can I sell my luxury vacation villa share?

Your shares are your investment to keep within the family for life, bequeath in your estate or sell at your discretion. The sale of shares prior to project completion are subject to the terms and conditions within the ownership documents.

 

How do ongoing property management decisions get made for the property?

The Wolfe Springs Resort  Association and its Shareholders own all the property and buildings. All decisions regarding the property and villas will be made by you and the Wolfe Springs Resort Association.

 

Is buying more than one share allowed?

Absolutely.