Many people dream of owning a second home overseas where they can spend afternoons basking lazily in the sunshine, filling up on local delicacies and enjoying happy memories with their family and friends. What many don’t consider is the amount of work involved in maintaining a property that is only used for several weeks of the year, or the on going costs.
It’s not just about cleaning, though of course a holiday home will need a thorough spring clean each time it is used. It is the maintenance that catches many people out. The fact that the garden does its best to turn into a rampant wilderness between each use, or that a freak storm took off some of the roof tiles on its way past. Suddenly, the dream of lazing about in the sun for days on end transforms into a reality of sweating in a poorly ventilated hardware store while leafing frantically through a travel dictionary to work out which product will repair that cracked window frame and which will accidentally dissolve it.
For many families, the experience has led to the conclusion that whole ownership has become passé in this day and age when there are alternative options available. Fractional ownership presents a much neater solution, allowing them to enjoy a fully managed property that allows them to relax from the moment they arrive.
Fractional ownership also enables the purchase of a much more luxurious property than whole ownership, as South African Jane Thomas observes,
“We loved the idea of a holiday home in Italy but the logistics of owning from South Africa seemed too difficult. What we wanted and what we could afford didn’t really add up.”
Luxury fractional ownership company Appassionata provided the perfect solution. Jane’s family and their friends purchased a share of the five bedroom Casa Leopardi, set on the pretty Giacomo Leopardi estate in rural Le Marche. The fractional nature of the property means that they can begin enjoying Italy as soon as they have set down their cases. While those who own second homes outright are beginning the process of airing out the property, disposing of spiders and checking for damp, Jane can sip Casa Leopardi’s own wine on a lounger by the pool.
Not only is whole ownership passé, but fractional ownership itself has evolved, with the concept of urban fractional taking off, as owners seek to experience real life in the country of their choice. Appassionata’s founder, Dawn Cavanagh-Hobbs, explains,
“Feedback told us that owners wanted to be a part of Italy’s beating heart, not just observe the country from the side-lines, so we knew we had found the perfect property when we came across Casa Tre Archi. As with all of our properties, it required extensive renovation work in order to turn it from a run-down and neglected townhouse into a luxury holiday home, but we persevered and those who have already bought shares have been delighted with the result.”
The trend for urban Italian properties is one that Jane Smith of local estate agency Magic Marche has also observed. She comments,
“Townhouses have definitely returned to popularity. We have seen the re-emergence of people looking for a pied a terre, somewhere for weekends and short breaks throughout the year; somewhere to immerse yourself regularly, almost at whim, in Italian culture, without the cost of running a big country house with land.”
Appassionata’s Casa Tre Archi is located in the medieval hilltop town of Petritoli. Owner Chris Everard from the UK describes the property best,
“The four-storey Tre Archi house in Petritoli, built into the mediaeval wall of this delightful hilltop town, made everyone smile with joy as we walked in to explore and as ever with Appassionata, it exceeded our expectations. The attention to detail, the luxury of a smart TV, broadband and three bathrooms makes the living experience relaxing, fulfilling and a joy to share.
“Turn right out of the front door walk underneath the mediaeval walls and arches past Andrea’s restaurant and up towards the Tre Archi bar. Stop for a cup of tea, a home-made ice cream, coffee with a croissant in the morning or enjoy the evening sunshine with a wind down beer or wine. Carry on into the village centre and you will find 2 or 3 other great bars, a very well-stocked supermarket, pharmacy, bank and a number of other restaurants.”
Casa Tre Archi’s spacious roof terrace allows owners to enjoy views of the beautiful countryside as they dine al fresco, with the chiming of local church bells and the happy noises of town life creating the perfect aural backdrop. Its owners delight in being able to immerse themselves in Italian life and in enjoying a far more luxurious property than whole ownership would allow. As Appassionata’s Dawn concludes,
“Why let your budget limit your second home dream, when with a little imagination you can enjoy owning a share of a luxury property from as little as £65,000. Fractional ownership is the perfect solution for those who want to spend their holidays having fun and let someone else take care of the cleaning, garden maintenance and minor repairs. For many of us, our time on holiday is limited. Fractional ownership ensures that families and friends can enjoy every minute of their time away.”