Lodges at Cannon Beach - Own a beach home for a fraction of the price.

Lodges at Cannon Beach - Frequently Asked Questions


Cannon Beach condos - Lodges at Cannon Beach
 
News and events about condos in cannon beach oregon

Cannon Beach Accommodations Lodges at Cannon Beach Hotel
Cannon Beach Hotels Lodges at Cannon Beach Accommodations
Join our mailing list:
* Get exclusive offers, coupons and information first. Not convinced? View a sample newsletter.

We know you highly value your privacy; therefore, we will NOT sell, rent, lend or give your name or address to anyone. At any point, you can select the link at the bottom of every email to unsubscribe.


Q: What are the Lodges at Cannon Beach?
A:
The "Lodges" are one of the latest additions to the Pacific Northwest’s premier coastal destination of Cannon Beach, Oregon. Made up of eight fully appointed units, the offering at the Lodges is comprised of a combination of whole ownership opportunities and shared or fractional ownership.

Q: Where are the Lodges located?
A:
The Lodges are located at 132 E. Surfcrest Ave. in Cannon Beach, Oregon, and about 1 block from the beach.

Q: What is Fractional Ownership?
A:
Fractional Ownership, or Shared Ownership, in real estate is a rapidly growing alternative to Whole Ownership designed so that each owner is deeded a specific interest (fraction) of a specific residence. Fractional ownership is a deeded property with the same rights as any other real estate purchase. Each co-owner owns a percentage of the property and is shown on the title and deed as an owner. It works very well for the family or individual that wants a vacation home or real estate investment, but does not want to pay the full price on a second home that they will only use for a few weeks a year.

Q: How is fractional ownership different than timeshare ownership?
A:
The difference between most timeshares and most fractional ownerships is the extent of ownership and control given the users of the property. Traditional timeshares typically do not involve direct ownership of real estate, meaning that the users of the property do not actually own or control it. Modern fractional ownership involves direct ownership, meaning that each user has a deeded interest, and this means greater owner control. For example, a fraction can be mortgaged, sold, rented, or even willed to a friend or family member. Also, fractional deeded ownership in real estate historically has the same appreciation rate as whole ownership. Shared ownership is a real property ownership right rather than just a usage right as with timeshares. In short this means that if the property price increases, so does the value of your share.

Q: What is the benefit of owning a residential interest at the Lodges?
A:
Ownership at the Lodges affords owners the benefits of a (destination) vacation property for a fraction of the price one would pay for whole ownership. Owning a residential interest eliminates the hassles of owning a vacation home such as maintenance, and allows your family to start vacationing immediately.

Q: Is fractional ownership for me?
A:
Although everyone dreams of owning a second home/vacation property, most don't purchase one for a variety of reasons including that they would not use the second home enough to justify the added expense. Fractional ownership provides a solution by allowing the purchaser to pay only a fraction of the costs and ongoing expenses of a second home. Also, due to the amount of time available to a fractional owner, there is less need to keep the property constantly rented as compared with whole ownership. To summarize, a fractional purchaser has a lower purchase price, lower operating costs, and a lower need for rental tenants.

Q: Why is fractional ownership superior to full ownership?
A:
Home ownership can be an expensive proposition. A quality built Cannon Beach home can be a sizable investment and the carrying costs of mortgaging can make the investment out of reach. Along with the costs of purchase, you have operating costs such as property taxes, ongoing maintenance, insurance, etc. Additionally, even though the costs of full ownership continue 12 months out of the year, few people can actually enjoy the investment for more than a limited time period. With fractional ownership, you only purchase the time you actually spend at your luxury vacation home.

Q: Can we loan our share in the Lodges at Cannon Beach to friends or family, or rent the home?
A:
Yes. If you are unable to use your weeks, you can let your family or friends enjoy it. You must, however, provide the names of the occupying individuals to the property management team in advance. You can also rent your share through the Lodges rental program, Hospitality First.

Q: Can I sell my fraction?
A:
Your shares are your investment to keep within the family for life, bequeath in your estate or sell at your discretion. The sale of shares is subject to the terms and conditions within the ownership documents.

Q: Is buying more than one share allowed?
A:
Absolutely. In fact, substantial discounts apply when purchasing multiple shares. For example, a 5% price reduction is offered for a second share, a 7% reduction for a third share, a 9% reduction for a fourth share, and so on. Buying multiple shares also provides you with more vacation weeks from which to choose.

Q: How many shares are being offered at the Lodges?
A:
The Lodges at Cannon Beach are being offered in 1/12th fractional share increments, which gives owners a minimum of five weeks usage per year. Currently, five of the eight buildings are being offered as fractional ownership opportunities.

Q: How much does each share cost?
A:
Prices start at $109,000 at this time with additional discount based on the number of shares that are purchased.

Q: Can I purchase a fixed week or month at the Lodges?
A:
The Lodges usage calendar has been set up to provide fair distribution of weeks among owners, so assigned weeks will rotate each year. For example, if you are assigned the second week of August this year, you would have the first week of August next year, the last week of July the following year, and so on.

Q: How are my weeks determined?
A:
The 12 shares are designated as "A" through "L" on the usage calendar, and owners can pick their individual share on a first come/first served basis.

Q: What happens if I cannot make it to Cannon Beach for my scheduled weeks?
A:
You have many options, including offering usage to friends and family, submitting your weeks to the rental program, trading weeks with other owners (coordinated through Lodges management), or submitting your weeks to an (external) exchange program for stays in destinations throughout the world.

Q: Can I purchase a unit in its entirety?
A:
Sure! Please discuss options and pricing with your sales representative.

Q: Can I sell my unit?
A:
Absolutely! Your deeded interest can be sold similar to other real estate.

Q: How big are the units?
A:
Units consist of three bedrooms two bath floor plans which range from approximately 1618 to 1717 square feet and two bedroom two bath floor plans that range from 1276 to 1338 square feet.

Q: What are the ownership fees?
A:
Monthly ownership fees for a fractional share start at $164 per month and monthly ownership fees for a whole ownership unit start at $630 per month. Fees subject to change.

Q: What is covered by the ownership fees?
A:
Fractional owner fees include everything from unit utilities, insurance property taxes to general building maintenance and landscape maintenance. Fractional Owner fees also cover a reserve for the interior of the unit and a reserve for the exterior of the unit. Whole ownership fees include insurance for the home owners association, general building maintenance and landscape maintenance, garbage, water and sewer, and property management as well as a reserve for the exterior of the unit and common areas.

Q: Are there any planned increases in the annual fees?
A:
Operating, maintenance and reserve fees are carefully reviewed and updated annually by a third party consultant and approved by the owners.

Q: Can I expect to stay in the same residence each time?
A:
Yes, a fraction gives an individual ownership interest of a specific unit.

Q: Do you have financing or lenders in place to help provide a mortgage?
A:
Financing has been arranged for both fractional and whole ownership buyers.

Q: I am coming from out of state. How do I get there?
A:
Arriving from Portland International Airport:
Take I-205 South to I-84 (to Portland)
Take Highway 26 West (to Beaverton / Ocean Beaches)
Travel seventy-five miles west (to Junction of US 26 & US 101)
US 101 South four miles (to Cannon Beach)
Take 3rd Cannon Beach exit (Tolovana Park)
Take a right on Hemlock Street
Proceed 2 blocks to Surfcrest St.

Arriving from North (Washington & Canada):
Take I-5 South
Exit 36 (Kelso/Longview)
Highway 432 West to Highway 433 and south to US 30
Cross Lewis & Clark Bridge over the Columbia River
US 30 West (to Astoria)
US 101 South (to Seaside / Cannon Beach)
Take 3rd Cannon Beach exit (Tolovana Park)
Take a right on Hemlock Street
Proceed 2 blocks to Surfcrest St.