HOW SECOND HOME'S HOLIDAY HOME
CO-OWNERSHIP MODEL WORKS
✔ Second Home’s mission is to enrich lives by making the dream of Second Home ownership possible for more people through their Holiday Home Co-Ownership model.
✔ Second Home selects popular holiday destinations and builds, buys and creates special properties to suit the most discerning owners. Second Home then sells these properties by co-ownership to eight like-minded owners.
✔ Each owner owns their own title to 1/8th of the property and any potential capital gain. This form of ownership means that each owner receives a title and owns a tangible, saleable real estate investment, as well as an exclusive holiday home.
✔ Each owner has exclusive use of the property for six weeks every year, which is managed and calendared equitably by Second Home. See details in our FAQS.
✔ A chosen interior designer tastefully furnishes the home in a modern and liveable style and includes everything you would expect in a luxury holiday home and more.
✔ Homes are professionally managed, and the eight owners benefit from shared costs.
✔ The eight owners enjoy equity ownership for life, however, if there is ever a need for an owner to sell, Second Home has a process in place to facilitate the sale or to assist your own appointed realtor to do so.
✔ Holidays in your Second Home are effortless, all you do is pre book your weeks, enjoy the anticipation of going on your next holiday then turn up and enjoy.
✔ A personal concierge is on hand to assist with your stay and upon departure, just lock up and leave, Second Home takes care of the rest. Storage lockers are provided, whenever possible, so you can leave your personal belongings for next time.
✔ The home always feels like your home because it is, and for this reason the home may be used by the eight owners and their designated guests only and never available for rental.
Legal Structure & Resale
Owners are provided the utmost security when securing co-ownership in a Second Home holiday home. There are no companies or trusts, and this is a 100% ownership program.
The title of each Second Home property is divided into eight titles and each title can be owned by up to two people.
For example, a husband and wife can own a share together as tenants in common. Two family members or two friends can own a share together. This ownership structure allows each owner to deal with their asset independently of the other owners. If an owner wants to sell, they simply list with Second Home or with a local real estate agent.
Also, part of the legal documentation is an all-important Partnership Agreement. This document sets out the practical rules of being a good partner and a good neighbour. Each new owner is interviewed for suitability to ensure they are prepared to uphold the standards required to be a Second Home owner and there are measures in place to remove an owner should this unlikely situation arise. Second Home takes the Partnership Agreement and its contents very seriously as abiding by these practical rules is paramount to the success of each home.