The Austria Haus Club is a fractional ownership resort property (shared ownership of a property where people share usage rights). The resort has condominiums for resale on 4 levels or floors. You can see the floor layouts for review to help you understand the property layout. For more detailed discussion of the property, you can read more specific information about the property when you have the basics better understood.
The property has been sold out of the original inventory for years and there are resale units for purchase.
Some of the key to understand and explain when you are considering any fractional ownership property include:
- The price – the history of the pricing and if the trends fit your personality
- Dues – The cost of the annual dues (and how the property comes up with them)
- Investment – if you are considering an investment, what is the track record of return on the investment? While this may not be the traditional question for such a property, you need to understand this part if it is important to you.
- Legacy – is this an option for you to build a legacy of family vacations? Are you going to visit Vail regularly (each year) and does this property suit your family desires — and their vacation schedule?
- How many are available – Number of shares/owners (in the case of the Austria Haus Club – there are 162 owners)
- Usage – how you can use the property and how to schedule it
- Rental – are you able to rent your condominium, is the program supported by the board or not, the income you might receive, etc.
- Financing – Availability of financing if you need to do so
- Management plan – how is the building managed
- Resales – Ability to resell/exit strategy – how long does it take to resell if you are ready to, who sells the property, the difficulty of selling the property, etc
Each property is unique, of course, and renting a condo for a vacation is a great way to understand the property best. Don’t take anyone’s word that you have to own somewhere – especially until you visit the property, walk around town and understand how this would fit into your vacation or ownership plans.