Holden Beach
VACATION HOME
CO-OWNERSHIP. SIX SHARES REMAINING.
About the Group
Hi Everyone!
We are the Banks family from Charlotte, NC. Our immediate family includes our kids Mary Elizabeth (30), John (28), and Caroline (17), grandson Gohan (4), dogs Callie and Lady, and our cat, Frank. We’ve been spending summer vacations at Holden Beach since 2005 and it has become a tradition for us, our kids, and other relatives to reunite and spend a week there each year. Holden has become our second home in more ways than one.
We acquired our amazing house in 2021 and have enjoyed using it over the cooler months as much as during the summer! In November of 2022, we hosted an 80th birthday celebration for Eric’s dad in which his 8 siblings from all over country converged at our house for a huge surprise party.
Our favorite Holden Beach activities include golf, biking, running, wave riding, morning and evening (moonlit) walks on the beach, spending hours by the pool, playing games, and cooking for the group! We’ve recently rented a pontoon boat, at Holden Beach Marina, and traveled the intracoastal up and down to Southport and Ocean Isle Beach. Eric recently added a small weight room in the lower level for another fitness option.
We are excited that you are interested in becoming our co-owner and would be happy to answer any questions that would help you make your decision. We’ve also both taken Plum’s Preferences Alignment Survey and we are both PlumCertified. Thank you again for your interest!
About the Home
- 7 bedrooms | 8.5 bath Home
- $2.65MM (roughly $331k per share)
We have a fantastic, large, 7BR, 8.5BA, oceanfront property right near the boardwalk at Holden Beach. We’re interested in the Plum fractional model to sell 6/8 shares in the property so that we can redeploy our equity. The property has a fantastic rental history and is unique in many ways. First, each bedroom has it’s own en suite bathroom. Plus, there is a full bath outside on the pool deck with hot shower, toilet, etc.
The house sleeps 21 guests and each bedroom is named to make assignment easy. The “Sandy Bottoms” room has 2, 3-person, bunks and can sleep up to 6 younger people. The “Mermaid” room sleeps up to 4 little mermaids in 2 full-sized beds. There is a 35×15 heated pool and hot tub. The house is an inverted floor plan with amazing views of the Atlantic. The house has an elevator, 2 full sized refrigerators, HDTVs in every bedroom, 2 sunrooms, and covered parking. Plus there is a mini-gym (weight room) on the lower floor and a workshop for minor onsite maintenance and repairs.
What else do you want to know about the house? It was built in 2005 as a weekly rental and has been meticulously maintained through the years. We speak to the builder often and have records dating back to 2005. There is a hydraulic, internal, elevator that is perfect for bringing up luggage, groceries, and guests with limited mobility – it was inspected in November of 2023 and meets all current codes. The well equipped kitchen features two large pantry style refrigerators and a separate ice cube machine. Each bedroom also has a dedicated HVAC return air duct to keep the room air fresh and equalize the temperatures in each room. There are separate HVACs for the 2 main levels as well as 2 water heaters.
Answered Questions
How are the weeks allocated?
The weeks are allocated through Plum’s Fair Use Calendar. This means that each year our weeks will change to ensure that everyone gets fair use at different times of year and on different holidays. We are also able to include rental and maintenance weeks in the calendar!
What does the rental history look like?
In 2023 gross is right around $210k with an NOI of $106k. Prop mgmt fees are in expenses. $22k.
38 weeks booked. 80% of annual comes in peak 13 weeks. $14.5k per week peak includes PM and $965 for linens, towels, and cleaning
What are the downsides of fractional ownership?
Gaining Group Consensus
Decisions about your shared vacation home involve everyone, but Plum makes it super easy with tools, planning, and process.
Being Tied to a Location
Typically, fractional vacation homes are limited to a specific location. Plum allows for complete flexibility with any vacation property and any location. Besides, with a fractional ownership share, this opens up flexibility for more co-ownership destinations.
Reselling Challenges
Finding the perfect buyer for your share shouldn’t be a hassle. Plum’s Marketplace connects you with eager buyers. Plum can also help connect you with PlumCertified real estate agents to list your share on a local MLS just as you would a solely owned vacation home.
Remember, these are just tiny trade-offs for the big rewards of co-ownership:
- Affordability: Access and own luxurious vacation homes without breaking the bank.
- Flexibility: Use your share whenever you like, or easily rent it out for extra income.
- Hassle-free Ownership: Let Plum help with co-ownership tools, while you focus on making memories!
Is fractional ownership better than timeshare?
With a timeshare, you are simply buying “time”. With Plum CoOwnership, you are efficiently buying a fraction or share of a complete vacation home and your usage and equity is equal to your share percentage. Of course, your share price can vary based on the property sale price and number of co-owners. Regardless, this type of investment asset is likely to increase in value over time versus a timeshare which depreciates over time.
Timeshares are usually condos at a vacation resort, whereas you can co-own a home in any neighborhood in a vacation destination. Typically, timeshares offer limited flexibility with your designated vacation period. Plum CoOwnership, on the other hand, offers greater flexibility in scheduling your vacation. Moreover, you are not allowed to rent or Airbnb your timeshare. With Plum, the co-buyers or group has the option to rent and makes that determination, subject to local rules and regulations.
Learn more about timeshares and how they work.
Have other questions?
How Does Plum Work?
Curious about how Plum plays a role in the process?
Unlock Vacation Memories Today!
Plum’s friendly and experienced concierges are here to answer your co-ownership questions.
As featured in
