With economic uncertainty comes a question: Is this the right time to buy a second home? While it’s hard to predict the future, the current market and past economic cycles position Pacaso as the future-forward option.
Pacaso brings together buyers to co-own a second home, and then provides ongoing management to make the experience of second home ownership easier, more enjoyable and more responsible.
“Pacaso exists to make second home ownership possible for a broader audience,” says CEO Austin Allison, who co-founded Pacaso after achieving his goal of owning a second home.
So, why “Pacaso?” Allison says the name was inspired by artist Pablo Picasso and his use of cubism: “It’s about bringing together these individual pieces to create a beautiful whole, and that’s what Pacaso does through co-ownership.”
According to the company’s Second Home Market Analysis, the demand for luxury second homes remains strong. Whether buyers have been searching for a second home or never thought they could afford one, Pacaso’s co-ownership model is the perfect solution. Pacaso enables buyers to purchase the amount of ownership they’ll actually use, starting at ⅛, and tap into a market at an accessible price point.
While co-ownership of real estate is nothing new — groups of families and friends have owned property through LLCs or informal arrangements for decades — Pacaso simplifies the process and removes potential friction. “We create a property LLC for each home, find and vet co-owners, and handle all the sales details,” says Austin. “At closing, co-owners together enjoy complete ownership of the home – Pacaso does not retain any shares."
Unlike a timeshare, Pacaso’s LLC co-ownership model offers ownership of a home, not “right to use” time in a condo or resort hotel unit. The value of the owner’s real estate property asset moves in line with the whole-home market, and owners can sell at a price of their choosing. Pacaso professionally designs and furnishes each home, and handles the ongoing demands of homeownership, like paying the bills and maintaining the lawn. Owners simply show up and enjoy their home. Using the company’s SmartStay system on the Pacaso app, owners can reserve their home with as little as two days’ notice throughout the year. The app distributes reservations equitably according to ownership percentage and even accounts for holidays. Pacaso luxury homes are located in over 40 world-class second home destinations, and the company makes it easy to tour any home virtually or in person. Ready to start enriching your life today? Learn more at pacaso.com.
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Share Allen | The Allen Agency powered by EXP Realty
Certified Relocation Specialist
Email: info@allenagencyre.com
Cell: 310-270-0707 | 678-460-7150
Website: http://www.allenagencyre.com