No, we’re not talking Maths. We’re talking fractional ownership in Muskoka. It all seems a little confusing at first, just like with its namesake, but once you get to the nitty gritty and the logic of it all, things fall into place quite quickly and start making sense.
The long and short of it is you get the opportunity to own a piece of a property that would, as a whole, cost you many hundreds of thousands of dollars, for a fraction of the price, for a certain number of weeks of the year.
There are many different resorts and communities in Muskoka that offer such properties and each differs in rules and regulations surrounding the ownership, but in general they function in the same way i.e. the year gets split up into weeks and you own either 5, 6 or even up to 12 weeks a year, in which you may occupy your specific unit. Here too there are many properties on offer, studios, 1 bedroom, 2 bedroom up to 4 bedroom units, the choice is yours and can be selected according to your budget and/or preference of golf resort, on the water resort and others.
There is a condo corporation or a resort corporation that looks after the maintenance, furniture, housekeeping, general insurance and all the amenities of the resorts itself, in return for a monthly condominium fee. So you are looking at a once-off purchase of the fraction of the unit, the yearly property tax then your monthly fees.
The resort usually offer restaurants, tennis courts, watersports, spa, fitness centre, infinity pool, a private sandy beaches, swim docks, free non-motorized watersports, golf courses and enchanting views of their surroundings.Simply, your holiday starts from the minute you get to your resort of choice, you do not have to worry about the day to day upkeep which is generally attached to owning a cottage in Muskoka. These communities are dedicated to a maintenance-free cottage lifestyle.