Interval Ownership

A possible way to live the impossible dream

You can own an interval share in this home for less than the cost of a two-week rental in a home of similar value. An interval share is not a time-share.

Interval ownership — a concept new to coastal Delaware — has been popular for some time along the beach areas of North and South Carolina and Georgia. It affords beach property ownership to those who have only a fraction of the time and money that full home ownership demands. You can participate in interval ownership of this fabulous newly constructed home, just steps from Bethany Beach. Click here to learn more about this property.

Here’s a brief overview of Resort Pointe’s interval ownership program …

Your financing made easy

You can use your own lending source or ours to obtain a mortgage. If you qualify, you can secure 100% financing though our lending company contact. You will be purchasing a fee-simple title for your interval share. As such, you pledge your share as collateral for a first mortgage loan.

You can buy an interval for less than the cost of a two-week rental!

Assuming you rent a similar property for just two weeks, one in season and one in June or September, you would pay about $15,000 in rental fees.

Using an option ARM, an interest-only mortgage that gives you various payment options, the mortgage cost for your interval would be about $4,500 per year. The maintenance fees would be about $3,000. Thus, with this financing vehicle you would save about $7,000 a year. If you chose the interest-only payment option, however, you would not build up any equity.

If you secured a traditional 30-year, 5.75% mortgage, you would pay about $13,000 per year. Adding the maintenance fees of $3,000, you would pay about the same per year as renting, but you would be building up equity as you pay down the principal. If you qualify, you can deduct the mortgage interest from your income.

In either case, assuming the property appreciates, you will reap the reward of increasing home values. The past does not guarantee the future, but if you owned this interval in 2004, your property would have increased at least 15%, or about $30,000 per year.

You can rent your weeks for income

The profitability of the above example is improved if you rent some of your weeks. For example, if you cannot use your beach home during your entire interval schedule (usually about 5 weeks), you can rent your weeks with the income going directly to you. We can assist you with this effort, and any income derived from the rental would decrease your out-of-pocket expenses for the year.

You’re not buying a time-share; you’re buying a home

Please don't confuse Resort Pointe’s interval ownership with owning a week in a time-share community. The difference is significant, because with an interval share you don’t just own rights to a particular week. Interval ownership gives you a deeded, fee-simple title to an interval in your own beach house and to the land it’s on. You can treat your interval share like the valuable asset it is; you can pledge it for financing, sell it, or include it in your will for the benefit of your loved ones.

Your beach home will be cared for by owners who care

This will be your house and it will be taken care of by other owners who, like you, want to maintain its high quality and value. Ownership encourages pride in a home. Often, owners stay in touch much of the year and discuss what to do for the following year. We will assist you in creating a budget to set aside funds that assure long-term maintenance.

You can purchase multiple shares for more weeks

You are not limited to purchasing just five weeks. If you want to spend more time at the beach, or just improve the return on your real estate investment, you can buy more than one interval. Other companies using this system report that seven to nine owners will often take all 10 shares. We offer special pricing for additional shares.

You can sell your interval just as you would any other real estate property

If or when the time comes to sell your interval share(s), you may do so easily. Your ownership documents provide for this event and a reputable coastal appraiser can update your fractional interest appraisal. You also have a unique market of fellow owners who often can provide qualified buyer candidates seeking shares or who will offer to buy your interval themselves.

Contact us. We make it easy.

Although owning a home at the Southern Delaware beach may be a brand new experience for you, our team has worked out the process to make it as easy as possible. Take the first step by contacting us. We’ll listen, learn about your needs and answer your questions. When you're ready, we'll happily assist you in becoming a proud owner of a fabulous new beach home like this one. You'll be amazed how easy it can be!

More information

For more information, please call Ralph Picard, Managing Partner, Resort Pointe Custom Homes, at 484.678.4341, or e-mail at rpicard@resortpointe.com.

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