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Pacaso announces real estate service focused on second homes (Sponsored)

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Owning a second home is a dream for many people, but cost is often a barrier. Beyond the financial hurdles, maintaining a second home from afar or renting it out to help pay the mortgage can be a burden.

Pacaso, launched in October 2020, is a real estate service that strives to change all that, bringing together buyers to co-own a second home, and then provides ongoing management to simplify the experience.

“Pacaso exists to make second home ownership possible for a broader audience,” said CEO Austin Allison, who co-founded Pacaso after achieving his personal goal of owning a second home.

A recent Pacaso survey found that nearly half the people who wish to own a second home either can’t afford one or can’t justify the purchase of a home they’ll not use frequently. This new real estate service enables buyers to purchase the amount of ownership they’ll actually use, starting at ⅛, and gain access to the luxury market at a price point they can afford. Pacaso’s offering is true real estate ownership of a single-family home, and resale is streamlined.

While co-ownership of real estate is nothing new, Pacaso simplifies the process and removes potential friction. “We create a property LLC for each home, find and vet co-owners, and handle all the sales details,” said Allison.

Pacaso offers a curated collection of homes in popular second home markets. Houston buyers seeking a refreshing change of scenery can find homes in Colorado and Utah ski towns, enjoy year-round greenery at a second home in Tahoe, or choose a beachside in Malibu or Hilton Head. Each home is outfitted with everything owners might need, and a design team selects high-end furnishings and custom artwork. Once the home has been sold, Pacaso transitions to a management role and handles bill payment, repairs and maintenance.

Owners schedule time in their home throughout the year using Pacaso’s app, which distributes reservations equitably according to ownership percentage. The company is rapidly adding markets across the United States, with plans to expand internationally.

For more information, visit online at pacaso.com.

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