6 reasons why you should co-own your second home
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For many, buying a second home is a dream that may never be fulfilled. Even for those who can afford it, some decide the hassle is not worth the expense. Co-ownership addresses all the downsides of buying and owning a second home outright.
Reduced purchase costs
This is the obvious benefit – co-ownership allows you to buy a second home you would not otherwise be able to afford, or a more expensive property that would otherwise be beyond your means.
Pay a sum that matches your use
Co-ownership is the perfect solution for those who can afford to buy a second home outright but can’t justify the cost for a property they will only use for a few months each year. Discerning buyers see sense in paying a sum that matches their actual use.
Buy what you need
Many owners lucky enough to have their own second home often feel they have to use it regularly to justify buying it in the first place! Sometimes they may just prefer to experience other destinations. Co-owning a second home offers the perfect compromise. We call it 'right sizing'.
Share the costs of ownership
Fractional ownership significantly reduces the annual costs of owning a second property. Why bear all the expense of maintaining and insuring a home you only use for part of the year when you can share those costs?
Eliminate whole ownership issues
Co-owning your holiday home takes away the need or pressure to rent it out when you don't use it - and the extra wear and tear that comes with a holiday letting. Best of all, your home will be professionally managed so you can be sure it will be immaculate each time you use it.
Diverse ownership options
Co-ownership is perfect for owners who want diverse holiday experiences. The reduced purchase costs will allow you to co-own a home in several different locations - a beachside home for the summer and an alpine lodge for the winter is appealing to many fractional buyers!