Can only afford 40-50% of that dream property seen on Rightmove?
Have you ever stumbled upon your dream property on Rightmove, only to realise you can’t afford 100% of the purchase price? Worry not, as there is a solution for people like you who can only afford 40-50% of the property’s value. This article will explore the concept of shared ownership and how it can help make your dream property a reality.
The client finds the property that they love but cannot afford 100% for the purchase but only 40-50% so we buy it with them. We then sell 50-60% of the property to our clients.
Of course you can still buy one of our beautiful properties for sale for as little as 1/8th of the price!
Buying a Fraction of the Property
The shared ownership system allows you to purchase a fraction of your dream property, usually in the form of 1/8th shares, for a total of 8 shares. You can buy 40-50% of the property, and the remaining shares will be sold to other clients. This way, you can own a part of your dream home without bearing the entire financial burden.
Selling Shares to Other Clients
Once you have purchased your share of the property, the remaining shares will be sold to other clients. This not only helps you financially but also creates a community of like-minded property owners who share the same passion and love for the property.
Examples where this system is ideal:
Dream Provencal Property
You have found your dream Provencal property on that second home portal but cannot afford to pay 100% for it. We find the clients for the remaining shares.
Remember that usually fractional ownership is divided into 1/8th shares for a total of 8 shares
Affording a Balearics Property for a Large Family
You now have children of your own but prices in the Balearics have increased so much that you realise you will never be able to afford a property decent enough to host your large family.
Now you can afford to buy 40-50%, on your own or with your parents, and build memories with your loved ones
Sharing a ski Property with Old School Friends
You have always had this dream of spending time with some of your old friends back from school. Now you can get as many as 7 other friends and we will buy it, renovate it and manage for you. Don’t worry if you don’t have 7 friends, as soon as you have 40-50% of the property covered, we shall find the other co-owners.
And the cherry on the cake?
1. Because it is professionally managed, you remove all the emotional problems that could arise from sharing bills and taxes with your loved ones or friends. The best of both worlds: you build your memories yet remove all the negatives!
2. Our architects and interior designers will audit your chosen property and if the property is not the right fit as a second home, we will let you know (and give you all the reasons!). The purchase price for the area, the type of property, the due diligence and the rental potential are just a few of the checks.
3. Maybe it is an older property in need of renovation. Our architects and interior designers will undertake all the renovation, with no hassle. Then it will; be split between the co-owners, once the renovation works have been validated.
4. A swimming pool or a jacuzzi? Once you start sharing the costs, upgrades are welcome and add value to the property. Imagine adding a swimming pool valued at 30,000€ in the garden and being able to split it in two or more parts.
5. For about 500 euros you can transfer your share(s) to your descendants or anyone you choose when the time is right. No inheritance fees to pay!