The Big Boathouse

One possibility that always exists is fractional ownership.  Fractional ownership is like a timeshare where you purchase partial usage and equity in a property. 

The nice thing about fractional ownership versus full ownership is that you are sharing both the risk and the expense of owning the property.  This lowers the overall cost of ownership, and frankly, offsets much of the time that you may not be able to utilize a vacation home anyway.  The downside, relative to rental, is that you do share in the expenses, maintenance, and repairs.  Further, in the event of resale, you may be able to recoup a portion of your investment, as well as potential profits.  Inherent with that upside, you also run the risk of incurring losses in the event that the sale occurs in a down real estate market.  



I would consider selling a fractional  ownership interest for:  

1/3 for $200K

1/2 for $300K

Plus proportionate shared expenses to be defined and agreed upon in contract: all maintenance, insurance, repairs and utilities, including power, gas, cable, lawn/property, phone, taxes.  Repairs include mechanical, cosmetic, safety, as well as reasonable replacement items as needed over time.