People of all walks of life can own a piece of several million dollar custom log homes in Telluride through the concept of limited co-ownership.
We set out to offer owners all the benefits of a luxury home without the usual headaches, said Chris Clark, president. Typically, the high cost of ownership, maintenance hassles and sheer wastefulness of a home that sits idle for most of the year are the least attractive aspects of vacation home ownership. With Mountain Chateaux, owners have flexible, year-round accessibility in a larger, more exclusive property.
Clark said he had owned both time-share and co-owned property. Both pieces of property were typical apartment blocks. He said they had the attraction of a central location, but lacked the peace and privacy. He said he began to visualize a comfortable and quiet atmosphere with a lot of accessibility. But, since he lived in England, he didnt want the hassles of long-distance maintenance and management.
Limited co-ownership is similar to time share ownership in that more than one individual shares ownership of vacation property. However, with Mountain Chateaux limited co-ownership, owners have a custom log home on a half-acre wooded mountainside. The reservation system is more flexible, allowing owners to secure fixed weeks for the long term, yet maintains the ability to use the home on short notice Clark said.
Other benefits of Mountain Chateaux homes are more than 2,600 square feet of living space includes a heated two-car garage and accommodations for up to eight people. Amenities include a river rock fireplace, spacious master suite, a gourmet kitchen and personal storage lockers for each owner.
Each owner purchases a one-eighth fee-simple ownership in the first home, Le Chateau, for $160,000. Included in the ownership is the maintenance, upkeep, housekeeping, snow removal and landscaping. Each owner pays annual dues of $3,500 to cover utilities, taxes and insurance, maintenance, furniture, appliance replacement and management costs. In addition, to retain the feeling of a private, single family retreat, Mountain Chateaux owners are able to rent out their weeks to other family members and friends.
Owners can choose a fixed week in each of the summer and winter seasons. These weeks are exclusive to them for the duration of ownership. In addition, owners can select a second week in both the summer and winter. The remaining 20 weeks are available to owners on request. If all owners use the house equally, each has six weeks. However, Clark said, if some use the home less, others can use it more.