Salt Lake Realtor

Page 18

Selling a Second Home—at Least a Part of It With new apps, real estate pros are offering clients a way to buy vacation homes at a fraction of the cost. By Melissa Dittmann Tracey Who doesn’t dream of owning a beachfront property or a home nestled in the mountains? For many wouldbe vacation home buyers, though, that dream is out of reach. That’s why some real estate pros are pitching an alternative: co-ownership. By purchasing just a one-eighth or a one-quarter equity share of a home, buyers can lessen their costs and split ownership responsibilities with others. 18 | Salt Lake Realtor ® | August 2022

Tech startups—like Pacaso, SecondShare, and investorfocused solution Fractional—are helping real estate professionals broker co-ownership arrangements among groups of buyers, who may be family, friends, or even strangers. SecondShare said co-ownership could reduce the upfront ownership costs of a vacation home by 75%. “Many people can’t afford the vacation home they’d


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