If you are currently considering buying a second home in a vacation spot, you may be wondering whether co-ownership of a property might be a good option for you. Hopefully, we can clear up some doubts. 

Buying a home is a breakthrough in life, and a very important step towards heritage and wealth management. However, we want to go beyond the experience of “just” buying a second home. If having a second home is a must, enjoying a co-owned home for your getaway moments is even better. 

Can you imagine the dream moment of arriving at your second home, in a peaceful setting, away from the hustle and bustle of the city? Imagine finding it perfectly ready, prepared and waiting for you to just unpack and begin enjoying your time. 

This is part of the experience we offer when you buy a co-ownership of a high-standing home through Secconda. 

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Key takeaways to understand the co-ownership model

Co-ownership offers a more flexible buying format that allows several owners to afford more by buying only what they need while sharing the costs. Together, they can enjoy a property that is highly superior in terms of quality materials, location, size, and amenities, but without making a large financial effort. 

You may own the home among other co-owners, but you enjoy an amazing home as if it were only yours, with the joy of knowing that others maintain it with you. 

At Secconda, we are here to help you understand the co-ownership process, and to study together its benefits, so that you can decide on your own what suits you best. 

Co-owners purchase shares of a specific property company that owns the home. The company only has 8 shares and a buyer can become an owner of an amazing home by only acquiring the number of shares desired. 

With Secconda you buy a house considering the time you will spend in it. No more of having an underused asset. It’s a smart choice to buy and own, not to rent, a second home to enjoy with your family and friends. 

This purchase system allows co-owners to enjoy the property for a given number of nights per year. The more shares owned, the more benefits you will enjoy. 

Therefore, the co-ownership model is especially indicated for the acquisition of a second home. According to several studies, most second homes in Europe are unoccupied during 8 to 10 months during the year. Their owners bear all the expenses, taxes, maintenance, cleaning, and security; and, on the other hand, they only enjoy the property during short periods, which are usually between 45 and 55 days a year. 

The trend of co-ownership has grown in recent years and looks set to continue to rise. According to Eurostat, millennials are already the largest group in the workforce, and their purchasing power is growing. This segment of the population has a different perception of the word “ownership” compared to what their parents used to have. Their needs and motivations include the importance of unique and genuine experiences. Millennials are part of a world that offers them many choices, characterized by flexibility and mobility, so buying a home that confines them to a specific geographic location does not suit their needs. They are looking for flexible models that allow them to enjoy unique lifestyle experiences in their favorite places, while still making economically intelligent decisions.

Why is co-ownership booming in Spain?

Spain is a place chosen all over the world as a holiday and leisure destination due to its incredible landscapes, its pleasant climate and its exquisite gastronomy. Thus, also for locals, enjoying a second home through co-ownership in a coastal area, with the best facilities and maintenance benefits, is an increasingly viable option. 

Instead of acquiring an entire flat in an undervalued area, near the sea or inland, we offer the chance of participating in a shared property with high-level services, unbeatable location, spacious rooms, and high-end decor. 

In sum, real estate experts believe that co-ownership can be an alternative for all those who wish to improve their quality of life, increase their sense of wealth, and enjoy a luxury second home.

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How Secconda can help you in your journey through co-ownership

At Secconda we are experts in providing valuable experiences to second home co-owners. Our dedicated team is here to help before, during, and after you buy into a dream home. 

Through our partnerships with real estate agents and professional local property managers, we strive to ensure that you have everything you need for a streamlined, smooth, and enjoyable experience. 

Once you have decided this purchase model is suitable for you, as well as the preferred location and home type, Secconda will help you throughout the process. 

For direct assistance, each home comes with a representative who keeps communication clear between all owners and the property manager, as well as making sure owners’ needs are being met. They are a direct line of support to ensure you have peaceful enjoyment of your second home..

When purchasing a Secconda Home our experienced team will guide you throughout the closing deal. o-owners will hold complete ownership of their home and Secconda will remain as manager to provide full management services at the pleasure of the co-owners.

If you still have any doubts, do not hesitate to Contact Us, or browse through our FAQs. We will be delighted to hear from you and to clarify your concerns without any compromise.

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