Hey, remember I mentioned in the 'About Me' section of my blog that I said my husband was an entrepreneur? Well, Pinestone Crossing is one of his businesses and it totally is my favorite!
DISCLAIMER: As the wife of the owner, I am biased :)!
What is Pinestone Crossing? It's this:
with lots of this:
When we lived in Canada, we owned a fraction of a cabin. We owned 10% of that specific cabin and shared equally, with other owners, in the common areas of the property. We purchased one fraction, which was a week in each season and a bonus week - 5 weeks in total. It was ideal. We would pack up and go and just enjoy our week. We bought only the time we would use and didn't have any of the maintenance (yeah!!).
We moved to the Chicago area and it was a 14 hour drive with a baby and a toddler. A little too much. One of my close friends, Cathy, from my university days loved it. We sold it to her. We missed it but knew it was in good hands. On Facebook I see Cathy and her family vacationing there and it always brings back fond memories.
We looked for another fractional cabin/cottage to buy into and couldn't find any. It seemed that there weren't any. So, to my husband, that was an opportunity. My hubby found a 26 acre lot with water frontage in Land O'Lakes, WI. The purchase papers were signed and Pinestone Crossing was born. This shared ownership concept was new but people bought into this project before we broke ground.
What I love about Pinestone Crossing:
And the winter is awesome too:
Pinestone Crossing is a 26 acre property with three cabins. Each cabin has ten fractions which means you own 10% of that cabin and 1/30th of the property (that includes two docks, a boat house, pontoon boat, rowboat, paddleboat and kayak). You get 5 weeks. One per season and a bonus week. If 5 weeks aren't enough, some of our owners bought 2 fractions so that they have 10 weeks. The cabins are fully stocked with linens, kitchen necessities etc.. So, you are probably asking, really, how does that work out, multiple owners for the cabin. Well, it works great! What this system has actually done is formalized what many families do with their own cabin. Divide usage and share expenses. To take this further, two of the cabins decided to finish the basements in their respective cabins. They shared the expenses in proportion to the fraction of the cabin they own.
Yes, there are maintenance fees. These are paid quarterly. Those fees cover things like property taxes, utilities (same as your home - heating, electric, phone, satellite tv, internet, etc.). Weekly cleaning is also paid for. There is a small additional amount which goes into a reserve account. This is kind of a forced savings for major expenses. Last year, some money was withdrawn to re-stain the cabins so they look all brand new again!
The benefits of a fractional? If you own a cabin or want to, wouldn't you just love to only pay 10% of the utilities or property tax for that cabin? You don't need to worry about maintaining the cabin, doing the yard work, paying the bills, worrying about how the cabin is fairing during a bad storm etc. Someone else does all that. Pay for what you use.
If you want more details, there is an awesome website for that:
Hope you enjoyed learning about a business venture that my husband created. And a place I love to hang out at. I love that people who can't afford to buy a cabin of their own get the same chance to create cabin memories at a fraction of the cost. Shouldn't everyone get a chance to spend an evening hanging out at the campfire roasting smores? Connecting with each other and just enjoy being?
Love the place! Enjoy your summer everyone!
P.S. The FCC requires I declare that this post is about a business venture that I have a financial interest in. Consider it declared :).