Remote work and work-life balance
Remote work offers many benefits and opportunities one of the main ones is to have a work-life balance. It allows us to…Read More
Most of us would like to own a second property or commonly called a “holiday home.” However, due to high real estate prices and maintenance issues, holding a complete second home is unattainable and impractical for most of us. But now there are other options, such as fractional home sales.
Fractional ownership models offer the flexibility buyers need to split their time between a primary residence and a favorite second home destination. Timeshare was the pioneer in this. We want to explain what it is, how it works, and its main advantages and disadvantages.
The most common definition of a timeshare is a shared ownership model of a vacation property. In which buyers purchase allotted periods to use the property, typically one week per year. The company owns the house or flat, and you own the right to use it.
Working and living patterns are evolving, and so is the real estate industry. The number of people investing in a second home rather than a primary residence is increasing. And shared ownership is emerging as a great solution.
Owning shares of a home rather than the entire property means dividing up some of it. You split its use with other owners, but each fraction gives you six full weeks per year, which is enough. You also split the maintenance costs. And maintenance is an important word when it comes to a second property.
Maintaining a house you don’t live in can be a nightmare. Hiring people remotely to work on your home, not to mention unexpected repairs, is challenging. And then, there is the regular physical maintenance of the property. There are also annual taxes and other fees to deal with. That’s a lot of hassle for a few weeks of use per year.
Contact UbiWork today and discover a new way to own property more flexibly.