Ontario Cottage Prospectors Discover Fractional Ownership

(EMAILWIRE.COM, May 31, 2007 ) Cloyne, ON – Frontenac Shores, a cottage development in Ontario, has introduced fractional ownership as a way to provide people with all the benefits of lakefront cottage living without having to commit to the cost, maintenance, and time associated with Canadian cottage ownership.Every spring, many Canadians are faced with a complicated, frustrating and time-consuming process of trying to find the perfect rental cottage for their summer vacation. Since renting the right cottage property can be a challenge, many Ontario vacationers are realizing that part time cottage ownership may be more advantageous. Some cottage development owners understand that many people face difficulties finding a suitable rental property that is available at the right time and at the right price. Additionally, cottage prospectors realize that renting a cottage often involves a great deal of time and energy, and a holiday can even be ruined when one realizes that the cottage rented from an advertisement on the Internet looks nothing like its picture. Due to the difficulties that many people face when trying to rent cottage property, cottage development owners have devised a plan that works to meet the needs of people looking for an alternative to cottage rentals. The concept known as interval ownership or fractional ownership allows a purchaser to buy a share of a cottage property. Many fractional cottage owners believe that this offers the perfect solution for people who would like to own a cottage property but don’t want to commit to investing huge sums of capital or all of the work involved in owning a cottage property. “In Ontario the demand for cottage property has increased dramatically. Real estate prices have risen to the point where most Canadians cannot afford a lakefront property. As well, many people don’t want to commit to the maintenance involved in cottage ownership. Fractional ownership breaks down the three main barriers to buying a traditional vacation lakefront home – cost, maintenance and time” states Pat Storms, Developer of Frontenac Shores (http://www.frontenacshores.com), a brand new fractional ownership cottage development on Mississagagon Lake in the popular Land O’ Lakes resort area of Eastern Ontario. While interval ownership is a concept that began in Europe fifty years ago, cottage developments in Canada are now beginning to take advantage of this untouched market in much of North America. Today, 250,000 Canadians own some type of fractional ownership property, and with real estate prices skyrocketing, especially in the popular vacation resort areas, fractional ownership is destined to become even more popular. By purchasing a share of a vacation cottage or condo property, a buyer has all the advantages of cottage ownership, without the high price and the hassle. The money invested in an interval property builds equity, as opposed to renting where the money is gone. Interval ownership also guarantees that inflation will only enhance the investment. When rental rates go up, as they have in the past, renters throw even more money away.The benefits of fractional cottage ownership are far-reaching, and Frontenac Shores is pleased to be able to offer a variety of features that stand apart from the competition. Pat Storms conveys her excitement by stating, “Cottage owners at Frontenac Shores will enjoy all the benefits of five weeks of lakefront living in a beautiful Confederation Log Home that is fully furnished, lavishly equipped, including whirlpool tubs, private saunas, gas fireplaces, gourmet kitchens, screen porches, satellite TV and high speed internet, all at a reasonable cost with no maintenance responsibilities. Frontenac Shore owners will also have the use of a wide array of resort amenities and an extensive recreation centre. You would be hard pressed to find a rental unit that offers this type of luxury!”In Canada, the lure of cottage life is not likely to diminish in the years to come. While outright cottage ownership may not be in the cards for most, the development of quality fractional ownership resort properties presents a practical option. Fractional ownership offers all the benefits of a vacation home at an affordable price. For the cottage renter, the alternative of purchasing a fractional ownership cottage eliminates the annual chore of prospecting for a suitable cottage rental, and Frontenac Shores is pleased to be able to offer this option.Frontenac Shores is an Ontario waterfront fractional ownership cottage resort. For more information, please visit Fontenac Shores or call Dave and Pat Storms at 1-866-240-5194.###This press release was issued through Groupweb EmailWire.Com. For more information on press release distribution, go to http://www.emailwire.com.

Kevin Dill

hillaryalane@yahoo.com