5 Benefits of Co-owning a Luxury Property Through Fractional Ownership
July 7, 2022 • Co-Ownership 411
Many of us dream of owning a luxurious holiday home in a desirable destination to visit at our leisure. However, we often hesitate at the realisation that owning another home can be costly and hard to maintain, particularly when it sits empty for the majority of the year.
Fractional ownership (or co-ownership) offers an innovative solution to this dilemma, allowing you to own a share of a luxury home for just a fraction of the cost. The best part is, you’re welcome to use your high-end holiday home as you please for a portion of the year that is equivalent to your ownership. Holiday homeowners can reap the benefits of this model too, by selling shares in their existing second homes.
At Kō, we’re excited to be one of the first to introduce fractional ownership to the APAC region, by offering our buyers and sellers a fully managed and stress-free experience.
In this article, we explore 5 ways the game-changing fractional ownership model is removing the hassle from holiday homeownership.
5 Benefits of Fractional Ownership
1. Lower Entry Points for Buyers
Living in luxury isn’t often synonymous with low-cost but with fractional ownership, you can gain equity in a luxury holiday home at a fraction of the price. Co-owners are able to use the holiday home for a portion of the year equivalent to their ownership of the home, enjoying a lavish getaway at a much lower entry point. Buyers can also take advantage of this lower entry point to free up more cash to spend on creating lasting memories in their new personal destination.
2. Less Hassle & Financial Gains for Existing Property Owners
Buyers aren’t the only ones to attain value in the co-ownership model, with holiday homeowners also benefitting from selling fractional ownership in their homes.
It’s no secret that owning an otherwise vacant holiday home can be a costly drain on the wallet and stressful to manage. However, our holiday homes are often at the centre of some of our fondest memories, and for this reason it can be difficult to sell up completely or open your home to a revolving door of short-term renters.
With fractional ownership, you can sell shares of your home to co-owners who will also have a stake in the property, meaning you can be assured your home will be treated with the care and respect it deserves. You can explore all the benefits of selling shares in your holiday home and how Kō can help to simplify the process here.
3. Flexible usage rights
Co-owners in a fractional ownership model are offered a much more flexible solution to holiday homeownership, with the ability to choose their ideal number of shares. A co-owner’s percentage of ownership directly correlates to their usage rights, ensuring they receive exactly what they pay for.
Usage times are also made more flexible than ever with Kō’s innovative booking engine, meaning you can schedule your vacation on your own terms. Simply use our platform to allocate the times you wish to use your luxury home, and we will take care of the rest. With all of the flexibility and control of a true owner, Kō-owners experience all of the rights of a holiday homeowner, minus the responsibilities. Learn more about how enjoying your Kō home works here, or how Kō is revolutionising typical holiday accommodation models such as timeshares here.
4. No Hassles with a Fully Managed Experience
Kō is there to support you every step of your fractional ownership experience, with the entire process managed via our end-to-end digital platform. Once you have found your perfect match by browsing the high-end holiday homes on our website, we help to finalise your purchase. The home can also remain under our diligent management if all parties agree, giving you peace of mind in knowing all administration tasks are taken care of.
Maintenance and cleaning will also become worries of the past, managed by our team year-round so all that’s on your to-do list is enjoy your stay. Kō takes care of all property upkeep, including choosing the very best service providers and ensuring your home is perfectly prepared for your arrival. All maintenance and upkeep costs typically associated with owning a home are also shared between co-owners, decreasing servicing costs significantly.
5. Privacy and comfort
While a vacation is meant to be a relaxing departure from your daily routine, staying in a hotel can often have the opposite effect as you contend with noise and the near-constant bustle of other guests. Unlike a resort or hotel, a luxurious private holiday home means you won’t have to comply with rigid time schedules to grab breakfast or take a dip in the pool. Experience true privacy and relaxation in a high-end holiday home and have the freedom to do what you like, when you like.
Experience Luxury for Less with Kō
At Kō, we’re proud to be redefining the holiday home ownership experience. We provide an innovative solution to owning a second home in some of the Asia-Pacific’s most beloved vacation spots. Browse our luxury properties on offer, or get in touch with our friendly team today to learn more about securing your own incredible holiday abode.
Disclaimer: Any product information is provided on a general advice basis only. Any advice has been prepared without taking into account any investor’s objective, financial situation or needs. The investor should then consider the appropriateness of the advice in light of their own circumstances before following the advice and seek professional personal advice from a financial adviser.
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