Homes to Buy in Menorca, for Sale of Fractions
Co-ownership is an agreement in which several people or parties share the rights and responsibilities of a property. This arrangement is gaining popularity, especially when it comes to purchasing a second home.
Owning a luxury home in the best locations is a dream for many, although purchasing a property in the usual concept until now might seem unattainable. However, co-ownership presents an attractive solution, allowing people to enjoy luxurious property in prime locations. Co-ownership allows several people to pool their resources and invest together in a high-end property. By sharing the expenses, the cost of purchasing and maintaining the property the co-owners significantly reduce their individual investment. This shared overhead cost approach opens the doors to prestigious and exclusive enclaves that might otherwise have been out of reach.
Imagine the possibility of owning a luxurious villa in Menorca on its spectacular coast, in the best locations. Co-ownership makes second homes:
- Affordable/Possible: Offers a solution for people who cannot or do not want to take on property on their own. By pooling resources with others, co-owners can collectively purchase a property that would otherwise be financially out of their reach or interest.
- Shared Expenses: Ownership comes with expenses such as mortgage payments, maintenance, insurance, and utilities. Co-ownership allows these costs to be divided among multiple owners, reducing individual financial outlay and making it more manageable to cover ongoing expenses.
- Access to prime locations: Co-ownership can allow people to own properties in desirable locations that may have a high cost for sole ownership. By sharing the expenses, people can invest in property in prime areas, whether it's a holiday home or an investment property.
- Fully managed homes: with the purchase of your share, your home will be fully managed, from maintenance and repairs, to any economic or legal aspect of it so that it is always ready to enjoy.
- Improved use of property: Co-ownership allows for more flexible and efficient use of property. For example, in holiday properties, co-owners can take turns using the property for different periods, maximising their utility and reducing the time the property remains unoccupied.
- Diversified investments: Co-ownership offers the opportunity to diversify investment portfolios. Instead of putting all your resources into a single property, you can invest in multiple properties through co-ownership agreements, spreading your risk and potentially increasing your profits.
At Bonnin Sanso we search, select and audit exclusive properties in premium locations so that the client can be sure that the property is perfect from every point of view. In addition, we work together with the best company in the co-ownership sector, VIVLA, a Spanish company that facilitates the fractional purchase of fully managed second homes to create a smarter way for people to own, enjoy and sell premium holiday homes in the top destinations in Spain.
Frequently Asked Questions:
Do I really own the house?
Yes! You acquire a share in a specifically owned private limited company. The house is fully managed and designed specifically for co-ownership. You can own 1 to 4 shares of each property.
Can I bring my own group of people to share?
Absolutely! We strongly encourage you to bring your own like-minded peers. We believe in fostering a sense of community and happiness, so if you already share a similar mindset with others, let's take the opportunity to share the joy together.
Can I sell my shares whenever I want?
You can definitely resell any time you want after a minimum latency period of 12 months. Additionally, during the first 12 months, a co-owner can exchange his or her share for any other available home share. If the price of the new fraction is higher, you just pay the difference. If it is less, the difference remains as a credit to cover the maintenance costs of the new fraction.
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At this moment and due to legal requirements, not all properties are available on our web, as soon as they meet the legal requirement of the Energy Efficiency Certificate they will be visible again.
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