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Timeshare Conquers Luxury

By SeoSecretService 12/05/2022 596 Views

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Sarah Cabrero

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The real estate startup Pacaso lands in Spain offering a model that allows eight completely unknown people to buy a million-euro house in equal parts

30 Jan 2022 . Updated at 4:14 a.m.

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Owning a luxury home, located in one of the most exclusive areas of the country and valued at a good handful of millions of euros, is possible only by having to pay a few hundred thousand. How? Through a revolutionary review of the timeshare concept. Without going into details and told like this, many may think that this is impossible. To many others it will sound like a rather non-transparent business. But pulling an example can always help put the imagination to work. A villa located in one of the most select areas of any listed city in a country, equipped with six bedrooms, seven bathrooms and more than 400 square meters built together with a garden and views that are the delight of anyone. Its price? Only suitable for very, very well-equipped pockets: just over three million euros. La multipropiedad conquista al lujo

But there are those who still have some modesty in shelling out a few million to enjoy such exclusive luxury only on vacation. For these people with possibilities —because even with the discount that the invention brings, let's be frank, it is not suitable for all pockets— the service offered by the Pacaso company is designed. This company has revolutionized the timeshare system focusing it on the high standing market. The operation is much simpler than it seems. Pacaso buys a house and puts it up for sale. From there, the property is divided into eight exactly equal parts and each of the owners - who do not have to know each other - pays an amount of between 250,000 (224,000 euros) and one million (897,527 euros) for taking over one of those little pieces of housing. The maximum number of luxury housemates is eight and the minimum two, and between those two numbers, any possibility can be used.

In order to carry out this operation legally and without possible fissures, Pacaso created a limited liability company made up of the new landlords. Through it, the corresponding taxes are paid, as well as the maintenance tasks required by the property. And once the sale is made and this new structure of several landlords is formed, all of them must assume a series of basic rules. The first is that each of the eight owners will have the right to enjoy the house for 44 days a year, with a maximum of fourteen consecutive days. There are also some limitations when it comes to holidays, because you can only choose a special day (among which are Christmas, national holidays or, in the case of houses located in the United States, Thanksgiving).

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