Sunriver offers many different of home ownership, with as wide of variation of pricing. The current real estate market trends have certainly had an effect on the pricing in Sunriver. In this article we will discuss the shared ownership. Sunriver has a couple of condo associations that are designed specifically for the shared ownership. These condos are both the StoneRidge Condos and The Ridge.
Even though both the StoneRidge and The Ridge were set up for shared ownership, the type of ownership within these complexes can vary. As an buyer you will want to know if you are purchasing a deeded interest or if you are simply buying a period of time what is often referred to as a time share.
You will also find that there are choices of free standing homes that have been set up as shared interest properties. Most of these properties have 4 to 5 owners (most often a family is one owner). Regardless of which type of ownership suits your needs there are a couple things that can make or break a deal.
Questions to ask;
- Is there a reserve for repairs and replacements?
- How is time divided (most often there is a calendar) are holidays separate?
- How are the monthly or regular maintenance fees covered.
- Is there one owner who “manages” the property.
- What are the house procedures for cleaning, deep cleaning?
- Can you rent out your weeks?
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