Not least due to the worldwide pandemic, the desire for a holiday home with a corresponding amount of space and sufficient privacy has become even greater. High-quality properties are rare and becoming more and more expensive. With the concept of co-ownership, the dream of a second home can nevertheless become reality. The idea originates in the USA, where this concept is currently going through the roof: Co-ownership definitely represents an attractive alternative to classic holiday homeownership. The platform MYNE has brought the model to Europe and offers premium properties in top locations in the most beautiful regions for share purchase. With the current high demand for holiday properties, this new ownership concept seems to be just the thing.
It often turns out that one's own vacation property remains unused for most of the year. At the same time, it causes high running costs, even after the purchase. Most vacation properties are only used by the owners themselves for six to eight weeks per year. Nevertheless, owners have to bear the entire purchase price as well as the running costs alone. With the co-ownership interested in a vacation real estate can secure themselves high-quality property to a fraction of the normally necessary investment sum. This immediately invalidates the main arguments already mentioned that speak against the acquisition of one's own vacation home.
As a proportionate owner, one acquires one-eighth, one-fourth or one-half of a German GmbH & Co. KG, which is set up exclusively for this one property and is the registered owner of the vacation property in the land register - at a fraction of the actual sales price. Your guarantor and reliable contact is a management company that offers a comprehensive service. You can visit your second home several times a year, depending on your time and taste. According to your acquired share, you have a guaranteed right of use in the case of co-ownership. For example, if you purchase an eighth of the property, you can use it for at least six weeks a year; if you purchase a quarter, you can use it for as little as three months. In addition, there is the security that only your own property can offer you: No nasty surprises or ambiguities, but a pleasant familiarity awaits you on site. Then there's the planning security: If you want, you can reserve your stay - conveniently via app - up to 24 months in advance. All communication runs via the MYNE owner app and the property management ensures that everything is perfect when you arrive.
In addition to the significantly lower costs, there is another decisive advantage. Those who purchase a vacation property, especially abroad, in the traditional way are often confronted with a great deal of bureaucracy and even higher costs for surveyors and lawyers who fight their way through the jungle of required papers, local guidelines and laws on behalf of the new owner. No more! Providers like MYNE manage all aspects surrounding the purchase of the property, the furnishings, ongoing management and on-site services including maintenance and cleaning. To make a long story short: Shared ownership offers you a smart and flexible way to own your own second property - without the work and stress of a regular homeowner or the expense and planning involved in a rented vacation home.