The Pacaso blog

MYNE is a Berlin-based, managed co-ownership platform that allows two to eight buyers to jointly own a premium holiday home in Europe. The platform describes itself as "the smartest way to your own dream holiday home" and positions co-ownership as a more accessible alternative to buying a whole property outright. MYNE handles property sourcing, legal structuring, furnishing, management, and scheduling, so co-owners simply arrive and enjoy their stays. MYNE sells ownership in 1/8 increments, with each share granting at least 6.5 weeks of use per year. Shares are priced from approximately €120,000 to €1 million depending on the property. Each co-owner holds a real legal stake in the property, recorded in the relevant country's land and commercial registers. MYNE launched in Germany in 2021, expanded across Europe, and most recently entered the UK market in 2025. The platform now covers more than 25 destinations across nine countries, including Spain, Austria, Italy, Portugal, France, Croatia, Sweden, Germany, and the UK. Yes. MYNE launched its UK operations in 2025, making it available to British buyers for the first time. The expansion was driven in part by post-Brexit complexity: buying holiday property in European countries has become more difficult for UK citizens since 2020, with some countries restricting ownership in popular resort areas for non-EU nationals entirely. MYNE positions its platform as a legal, compliance-managed route back into European holiday home ownership for British buyers. MYNE offers English-speaking support teams and guides UK buyers through local regulations, tax implications, and property management for each European country in its portfolio. Shares in MYNE UK properties start from £99,000. That said, MYNE's UK presence is still in its early stages. Pacaso, by contrast, has been active in international co-ownership markets including Europe for several years and offers a well-established model for UK buyers who want to Both platforms offer Pacaso holds each home in a For UK buyers, Pacaso's team provides local expertise to navigate any country-specific legal and tax requirements, including MYNE structures ownership as a managed co-ownership share deal, with each co-owner's stake recorded in the commercial and land registers of the country where the property is located. This confirms real property ownership under local law.  MYNE also manages all legal and tax setup on behalf of buyers, including compliance with local regulations in each European country. For UK buyers purchasing European properties through MYNE post-Brexit, MYNE's team handles the additional regulatory complexity that British nationals now face in certain European markets. Both platforms allocate roughly the same amount of annual use for a 1/8 share. For buyers who want more time in their home, Pacaso's flexibility stands out: it offers share sizes from 1/8 up to 1/2, meaning a buyer who purchases a 1/4 share gets roughly double the amount of time in the same property. Pacaso uses MYNE's app-based reservation system takes a different approach, pairing co-owners with compatible usage preferences at the point of purchase to reduce scheduling conflicts. The system applies transparent rules to high-demand periods like school holidays, which is particularly relevant for UK buyers whose holiday windows are often tied to school terms. MYNE also offers a Holiday Exchange program that lets co-owners swap their allocated time for stays at other MYNE properties across Europe. The two platforms occupy broadly similar price ranges at the entry level, but differ in how pricing scales at the top end and in how buyers can finance their purchase. MYNE 1/8 shares start from £99,000 in the UK market and from approximately €120,000 across its European portfolio, rising to around €1 million for premium properties. The share price includes purchase costs and furnishings. Ongoing co-owner costs cover management fees, maintenance, utilities, and cleaning, shared proportionally among all owners. Pacaso 1/8 shares typically start from around $200,000 and can reach $2 million or more for top-tier luxury homes. Because Pacaso offers share sizes from 1/8 to 1/2, a buyer with a larger budget who wants more time in a single home has options that MYNE's fixed 1/8 structure does not provide. The biggest pricing-related differentiator for UK buyers is financing. Both platforms support resale of co-ownership shares, but the mechanics differ in ways that matter for long-term planning. With Pacaso, owners set their own asking price and can list their share for resale at any time. MYNE supports resale after a 12-month minimum holding period and maintains a waiting list of interested buyers to help facilitate transactions. MYNE's involvement in the resale process reduces the administrative burden for sellers, but the 12-month lock-in is worth factoring into plans for buyers who may need early liquidity. For UK buyers, geography is often the most important decision factor. MYNE is exclusively focused on Europe, with more than 25 destinations across Germany, Austria, Spain, Italy, Portugal, Croatia, France, Sweden, and the UK. Popular locations include Mallorca, the Austrian Alps and Kitzbühel, Tuscany, the Algarve, the French Riviera, the German North Sea and Baltic coasts, and Croatia.  MYNE's portfolio is well-matched to UK buyers who dream of a European holiday home — the destinations are familiar, the travel times are short, and the platform is specifically designed to help British buyers navigate post-Brexit ownership restrictions. The honest answer is that it depends on what you are looking for. Here is a practical breakdown. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a Explore what makes

August Collections is a European co-ownership platform founded in 2018 by Mélie Dunod and Nicolai Johan. Rather than owning a single vacation home, August owners buy an equity share in a curated "collection" of four to five fully managed, renovated properties across Europe's most sought-after destinations, including the South of France, Tuscany, Mallorca, the French Alps, Paris, London, Rome, Barcelona, and the Cotswolds. The model is built on a simple premise: the average vacation homeowner uses their property for only about 35 days a year, leaving it empty for the remaining 11 months. By pooling ownership across multiple households, each collection stays occupied year-round while individual owners enjoy access to several homes for a fraction of the cost of purchasing any one of them outright. August handles the entire ownership experience, from property sourcing, renovation, and design to furnishing, maintenance, and management. Owners simply book time across their properties using a points-based scheduling system and arrive to find homes that are ready to use. When you buy into an August Collection, you are purchasing an equity share in a real estate company that owns four to five properties. Depending on the collection tier, you co-own those homes alongside up to 20 other owners, each holding a 1/21 share (or 1/16 in the Prime tier). Ownership is structured as a real estate company purchase, not a timeshare or club membership, meaning you hold actual property equity that can appreciate in value. Scheduling is managed through a points-based system. High-demand weeks (summer peaks, school holidays) require more points, while off-peak periods cost fewer. Last-minute bookings of vacant properties are available at no points cost. Each co-owner can expect to use their homes an average of 8 to 12 weeks per year across the collection. August emphasizes community among co-owners, curating groups of like-minded homeowners who share a similar lifestyle orientation. The company also manages all resales, with a secondary market already established and over 15 completed resales recorded, most of which were owners upgrading to a higher collection tier. August Collections pricing varies by tier, with share prices currently ranging from approximately €340,000 for a Pied à Terre entry-level share to €1.8 million for the Prime collection. Annual fees covering taxes, insurance, maintenance, and management are charged separately and range from roughly €8,600 to €19,800 per year depending on the collection. After each stay, owners also receive an invoice for end-of-stay cleaning and linen service, which typically runs €150 to €350 per visit. There is no mention of integrated financing on August's public-facing materials, meaning most buyers are expected to purchase shares with cash or arrange independent financing. August currently offers five collection tiers, each defined by property size, destination mix, and entry price: Each tier is launched in individual collections. Once a collection sells out, buyers can either join a waitlist for new collections or purchase a resale share on the secondary market. August notes that demand for resale shares often commands a premium over new shares, since resale buyers can access the homes immediately upon purchase. At a high level, both Pacaso and August Collections offer genuine co-ownership of luxury vacation homes, with real equity ownership, full-service management, and structured scheduling systems. The key differences come down to ownership model, geography, co-owner density, and flexibility. The table below compares the two models across major categories: The most fundamental difference between Pacaso and August Collections is what you actually own. With Pacaso, you own a share of one specific home in one destination, with up to seven other co-owners. That home is yours to use, and it tends to develop a real sense of place — a second home you return to, know intimately, and can eventually sell as an appreciating real estate asset. August Collections flips that model. You own a fraction of five homes spread across multiple European destinations. The appeal is variety: instead of returning to the same Tuscan farmhouse every summer, you can alternate between Mallorca, the French Alps, and the Cotswolds across different trips. The tradeoff is that your individual ownership stake in any single property is thinner, typically 1/21 of each home rather than 1/8. Co-owner density matters a lot for scheduling availability and the overall quality of the ownership experience. Pacaso homes have a maximum of eight co-owners, which means each owner gets roughly six weeks of use per year in a single home. August Collections can have up to 21 co-owners across five homes, which averages out to 8 to 12 weeks of access per year spread across the collection. On paper, those ranges overlap. In practice, however, more co-owners per property means more competition for peak weeks. With If your ideal second home is in Europe, specifically France, Italy, Spain, or the UK, August Collections offers an unusually compelling proposition: one purchase price, five destinations. For buyers already drawn to European travel and who want a base across multiple regions, the collection model is genuinely differentiated. Pacaso's edge is global breadth. With 40+ markets including For buyers specifically wanting to Pacaso offers August Collections does not publicly offer integrated financing. Buyers are generally expected to fund their share purchase independently. At share prices starting above €400,000, this is a meaningful consideration for buyers evaluating total capital requirements. Both models are legitimate, well-managed co-ownership platforms. The right choice depends on your priorities. August Collections may be the better fit if you: Pacaso may be the better fit if you: If you want the simplest path to owning a luxury second home, whether it’s in Europe or elsewhere, Pacaso allows buyers to purchase a share (1/8 to 1/2) of a fully managed luxury home through a

Let's say you have $400,000 to $1,000,000 to spend on a holiday home. During your research, you probably came across Equity Estates vs. Pacaso as top contenders. One setup puts your cash into a fund that buys a basket of properties, while the other side buys you a piece of one specific house. When you are Pacaso overview To understand By handling all the property management, cleaning and bill paying, many owners find that Here is a quick look at the advantages and trade-offs of this single-home approach:  Equity Estates overview Equity Estates takes a different path by operating as a private equity real estate fund. You pool your money with other investors to buy into a whole collection of luxury vacation homes. Equity Estates minimum investment ranges from $145,000 to over $1 million, depending on the specific fund tier.  A professional team handles acquiring and managing the entire portfolio so you can travel to various spots without dealing with landlord headaches.  Buyers who want access to a large portfolio instead of one specific house often consider high-end travel clubs as an alternative. Weighing Here is a summary of the clear benefits and potential drawbacks of this fund-based vacation strategy. Key differences between Equity Estates and Pacaso While both models cater to luxury buyers, they differ in terms of daily operations and long-term value. Looking closely at these operational contrasts helps you see how each choice shapes your future vacations and financial commitments.  Ownership structure and legal framework With Pacaso, you buy a specific share of a private limited liability company that holds the actual deed to the house. You and your co-owners hold real property equity, which sets the model apart from standard Equity Estates uses a private equity fund framework. Your money buys a share in the fund itself, and the corporate entity holds the deeds to all the homes in the collection. Fund managers make all the buying, selling and management decisions without needing owner input.  Usage, scheduling and flexibility Pacaso owners can only schedule stays at their specific home. Booking is handled through an app-based system called Equity Estates members book stays across a global portfolio of properties rather than returning to the same house. The fund uses a portfolio reservation system where availability is determined by the specific tier of your initial investment fund. Because you do not own a deed to one specific address, it can be harder to settle in. Fees and total cost of ownership Pacaso charges an upfront property markup fee when you buy your share to cover the initial platform costs. After that purchase, your ongoing expenses include a 1% annual management fee alongside your fractional share of LLC operating costs like taxes, insurance and maintenance. These regular bills are bundled into an ongoing monthly payment so you can track your exact carrying costs clearly. Equity Estates requires a higher initial capital buy-in to join the fund portfolio. Your long-term expenses include fund management fees, annual dues and portfolio operating costs. Because your money is pooled into a managed real estate fund, these annual costs fund the high-end concierge services across every single home in the network. Exit options and liquidity Pacaso runs an active resale marketplace where you can list your share whenever you want to move on. You set your asking price based on real property value, and new buyers can take over your exact stake. Selling a fractional share this way gives you a lot of flexibility since you do not have to wait for a corporate entity to liquidate the whole house. Equity Estates operates on a strict fund lifecycle that typically lasts 10 to 12 years. Your cash stays tied up for the entire duration because you cannot simply sell your share on an open market whenever you want. Once the timeline ends, the managers sell all the properties in the portfolio and return the capital, along with any gains, to the investors. Service and property quality Pacaso focuses on professional property management to maintain standalone luxury homes. Local property managers handle interior design, routine upkeep and property repairs so the home stays in peak condition. These properties feature upscale amenities like private pools, modern kitchens and expansive outdoor spaces built for a single-family retreat. Equity Estates features a curated collection of multi-million dollar residences located in elite resort communities and major global cities. Your stay comes with a personal travel concierge who stocks the fridge, arranges private chefs and plans local excursions before you arrive. Anyone reading an Equity Estates review will notice consistent praise for the high-touch hospitality workers who manage every detail of the trip.  Which ownership model is right for you? Choosing between these two setups hinges on how you want to experience your vacation days and manage your capital.  Explore co-ownership with Pacaso Deciding between Equity Estates vs. Pacaso depends entirely on what type of holiday home you are looking for. If you prefer owning a real piece of a specific luxury property that you can return to year after year, exploring Pacaso co-ownership helps you take the next step.  You can browse active listings in your favorite holiday destinations right now to find a property that fits your family's needs. To see the current inventory and find a home that matches your travel goals, take a look at the available

You're thinking of buying a second property and three main platforms have come up in your search. But weighing Pacaso vs. Ember vs. Ark7 isn't quite an apples-to-apples comparison. Each of these three companies serves different goals.  Pacaso offers luxury second home co-ownership for personal use. Ember is similar, but on a smaller scale. Ark7 is designed for passive-income real estate investing – you don't actually get to enjoy the homes you invest in.  Below, let's dive deeper to cover the key features, costs, listings and pros and cons of each platform. We'll guide you through picking the perfect platform for your specific goals.  How does Pacaso work? Pacaso offers professionally managed LLC co-ownership in luxurious second home destinations. Pacaso handles all the furnishing, maintenance, scheduling and fees so that co-owners get the benefits of owning a vacation home without having to manage it full-time. Its seamless property management and scheduling technology via the in-app SmartStay™ system makes Pacaso one of the Key features   Here are some of Pacaso's standout features: Estimated costs  Here are a few estimated costs that come with owning a share of a Pacaso home: Listing availability Pacaso offers listings all over the U.S. and in select international locations. Featured Pacaso pros and cons  Pacaso is best suited for those looking for This platform may not be the best option for first-time homebuyers, those who want to use their home year-round or those looking to generate passive income from an investment. Co-ownership with Pacaso is for luxurious personal stays in breathtaking homes and locations. How does Ember work? Ember offers co-ownership of vacation homes (typically ski, beach or mountain properties) with a tech-enabled booking and management layer. Like Pacaso, you can choose ⅛ to ½ real ownership share, setting it apart from a timeshare.  When weighing Pacaso vs. Ember, the major differences are listing availability and passive income opportunity. Ember offers a luxurious vacation home experience with relatively low entry requirements, but its listings are far fewer than those of an option like Pacaso. On the passive income side, Ember offers an Ember Flex program to offset costs by renting out unused time.  Key features  Ember's key features include: Estimated costs  Ember sits between Pacaso and Ark7 in cost.  Acquisition fees and ongoing costs are not publicly disclosed by Ember. Like Pacaso, there are also monthly maintenance and management expenses shared between co-owners. Listing availability  Ember has listings in fewer destinations than Pacaso and tends to focus on mountains, ski markets and beaches. Currently, it only operates in a handful of U.S. states, including Florida, Utah and California. Ember pros and cons  Ember is a good option for those who want fully-managed luxury vacation homes and may also want to rent out their unused time to help offset costs. However, due to their more limited listings, it's not the best for those looking for second homes in international locations.  How does Ark7 work? When comparing Ark 7 to Ember and Pacaso, it's somewhat of an odd one out — a completely different type of platform than the previous two.  Ark7 positions itself as an accessible platform for fractional real estate investing. Unlike Pacaso and Ember, Ark7's platform doesn't let you enjoy the vacation home experience. Instead, Ark7 investors purchase fractional shares in rental properties and may earn passive income.  Ark7 sources the properties and handles tenant management and operations. Investors receive a portion of the property's rental income and potential appreciation. Key features  Here are several of Ark7's key features: Estimated costs  Ark7's estimated costs include: Listing availability  Ark7 offers fractional ownership in single-family rental homes and small multifamily properties across the U.S. It operates in 10 markets nationwide, including Dallas, Indianapolis, Fort Worth and Atlanta. However, their listings can also change frequently because some properties can fully fund quickly.  Ark7 pros and cons  Ark7 targets those who want to get into accessible real estate investing. However, it isn't the market for customers who want a vacation property that they can actually use.  How do you choose the right platform for your goals? Use these three questions to guide your choice between these three platforms. 1. Do you want to personally use the property?  This is the first question to ask yourself. It will help you determine if you want a lifestyle purchase or a purely financial investment. Consider your goals: Do you want to host family vacations several times a year and enjoy the property's amenities?  If your answer is yes, Pacaso or Ember will be the most relevant options. These two are focused on second home co-ownership rather than passive investing. Instead of investing solely for financial returns, you're gaining access to a shared vacation home that you can personally enjoy.  2. Are you focused on a specific destination or property type? Some buyers already know exactly where they want to own a second home and that's completely understandable, considering how much the destination shapes the experience. Popular choices are ski towns, wine country and beachfronts around the world. If you have a specific destination in mind, Pacaso may be the strongest fit. With listings across national and international destinations, you're more likely to find co-ownership in the exact place you want. Ember has a smaller selection, mostly focused on ski and resort destinations in the U.S., so your destination may not be available. 3. Are you purely interested in real estate investment returns without personal use?  Maybe a vacation home lifestyle isn't your goal. Perhaps you are more interested in generating passive income, diversifying your portfolio or gaining exposure to real estate investing without directly owning a home.  If that's you, Ark7 may be worth exploring. Instead of vacation home access, Ark7 lets investors buy fractional shares in rental properties and potentially earn monthly income with lower minimum investments.  Why should I choose Pacaso for co-ownership? The right platform comes down to what you want from the purchase. If you're after passive income without ever using the property, Ark7 lets you invest in rental real estate for as little as $20 a share. If you want a managed second home with the option to rent out unused time, Ember is worth a look, though its listings are limited to the U.S. But if your goal is a luxury second home you'll actually enjoy, with

Timbers Resorts, operated by Timbers Company, was founded in 1999 as a developer and operator of luxury private residence clubs, boutique resorts, and whole-ownership homes in approximately 16 of the world's most sought-after destinations. Rather than a traditional hotel chain, Timbers positions itself around the idea of "effortless ownership": buyers purchase real estate within a resort community and gain access to a full complement of resort-style services, amenities, and travel benefits. Timbers offers several distinct ownership paths: The Timbers model is designed for buyers who want to feel at home in a world-class resort, with tuned skis waiting, pantries stocked, and concierge services ready on arrival. It differs fundamentally from a timeshare in that owners hold a deeded real estate interest, not simply a right to use a unit for a fixed period. Timbers Resorts locations span a range of ski, beach, golf, and leisure destinations across North America, Europe, and the Caribbean. Known properties in the portfolio include: The Timbers portfolio currently spans over 16 destinations globally, a more concentrated footprint compared to Pacaso's 40+ markets, but each property is deeply embedded in its resort environment rather than distributed across standalone residential neighborhoods. The most common Timbers ownership structure is the Private Residence Club (PRC), which functions as deeded fractional real estate. Here's how it works in practice: For buyers seeking whole ownership, Timbers offers full-title private residences at most resort locations, with the same resort services and reciprocity benefits available to PRC owners. Whole owners can deposit up to six weeks annually into the Timbers Reciprocity Program to trade time across the broader portfolio. Timbers Resorts ownership costs vary significantly by property, share size, and market.  Pricing is not consistently published on their website, which makes direct comparison challenging. Based on publicly available data from resale listings and third-party sources: In addition to the purchase price, buyers should budget for: Timbers does not offer integrated financing. Buyers fund purchases through personal capital, private wealth financing, or third-party lenders, without a built-in lending program from the developer. The Timbers Reciprocity Program (TRP) is one of the most-cited features of Timbers ownership. It allows owners at any Timbers Collection property to trade their planned vacation weeks for time at other properties across the Timbers portfolio, spanning destinations like Tuscany, Kaua'i, Aspen, Vail, Cabo, Napa, and more. Here's how the mechanics work: The TRP is a meaningful benefit for owners who want variety across the Timbers portfolio. However, availability depends on other owners depositing their weeks, and the system caps the number of owners who can deposit per week (typically 9 per week at some properties), which may limit flexibility during peak periods. Buyer reviews of Timbers Resorts properties generally highlight the quality of the destinations, the resort-level amenities, and the hospitality experience as genuine strengths. Commonly cited positives include: Common concerns and complaints that prospective buyers raise include: Yes, Timbers PRC fractional interests are deeded real estate, which means they can be sold on the secondary market. Unlike timeshares, which can be extremely difficult to exit, Timbers ownership interests do have a resale market and can be transferred or bequeathed to heirs. That said, the Timbers resale market has some practical limitations buyers should understand: For buyers who prioritize long-term asset appreciation, the resale dynamics of resort fractionals differ from those of private residential real estate. This is a key distinction compared to Pacaso's model, where each share is tied to a single-family home whose value tracks the surrounding residential market. Both Pacaso and Timbers Resorts offer genuine, deeded real estate ownership in luxury vacation destinations, but the two models are designed around fundamentally different experiences. Here's a direct comparison across the dimensions that matter most to buyers: The deepest difference between Pacaso and Timbers Resorts is the ownership philosophy. Timbers is designed for buyers who love the resort experience — arriving to a fully staffed, amenity-rich environment where every detail is handled by hospitality professionals. The property is embedded in a larger resort community with shared amenities, restaurants, and services that rival a five-star hotel. Pacaso, by contrast, offers a private residential experience. You own a share of a standalone luxury home, not a unit in a resort building. There are no shared lobbies, resort restaurants, or golf clubs (unless the home has them). What you get instead is the privacy, space, and character of a real home: your own kitchen, backyard, living room, and neighborhood. For buyers who want to feel like a local rather than a guest, this distinction is significant. Timbers' scheduling system generally involves pre-assigned vacation windows and a lottery or priority-based process for reserving stays. This works well for owners who plan vacations far in advance and prefer fixed annual windows. For buyers who travel on shorter notice or need more calendar flexibility, the pre-planned structure can feel restrictive. Pacaso's Timbers does not offer integrated financing, which means buyers typically need to fund their purchase from personal capital or arrange separate private lending. For luxury resort fractionals with entry points often starting above $500,000, this can be a meaningful barrier. Pacaso offers Both models offer deeded real estate that can be resold, but the market dynamics differ. Pacaso shares are priced relative to the value of the underlying single-family home, which tracks the surrounding residential real estate market. As home values in places like Napa, Aspen, or the Hamptons appreciate, share values follow. Timbers fractional interests are more closely tied to the desirability and operational health of a specific resort. While high-demand properties like Timbers Kaua'i or The Sebastian Vail hold appeal, the resale market for resort fractionals can be less liquid, and secondary market prices have historically reflected discounts to developer pricing at many properties. Buyers should factor resale liquidity and long-term value trajectory into their comparison. Neither Pacaso nor Timbers Resorts is the right choice for every buyer, but they serve distinct buyer profiles clearly: For buyers who've been researching Timbers Resorts and are wondering whether a private home co-ownership model might serve them better, Pacaso is worth exploring directly. With homes in Pacaso allows buyers to purchase a share (1/8 to 1/2) of a fully managed luxury home through a property-specific LLC, giving them a true real estate asset. With integrated financing, SmartStay™ scheduling, a dedicated Home Manager, and a global home swap network, Pacaso is built for buyers who want the benefits of a second home without the full price tag or the complexity of managing it alone. Ready to explore what ownership looks like?

Paris Perfect is a well-established luxury vacation rental company with nearly two decades of experience managing high-end apartments in Paris, London, and Italy. In 2018, the company launched Paris Perfect Shared, its fractional co-ownership program, in response to a growing number of guests who dreamed of owning their own Parisian pied-à-terre but found full ownership either too expensive, too time-consuming, or too complicated to manage from abroad. The concept is simple: rather than purchasing an entire apartment, buyers acquire a deeded fractional share of a specific, fully renovated luxury apartment. Each share grants the owner four weeks of use per year. The apartment is professionally managed by the Paris Perfect team, with all costs like utilities, housekeeping, insurance, taxes, and a reserve fund covered through an annual, all-inclusive fee. Shares can be sold or passed on to family members, and the ownership vehicle handles all French tax obligations on behalf of owners, eliminating the need for a French bank account. Since its first property, the Cairanne, sold out within weeks in 2018, Paris Perfect Shared has expanded its portfolio steadily. Its apartments are concentrated in the 7th arrondissement, one of the most sought-after neighborhoods in Paris, steps from the Eiffel Tower, Rue Cler, and the Champ de Mars. While Paris is the core focus, the program has also expanded to Florence through sister site Italy Perfect Shared. Understanding the mechanics of Paris Perfect co-ownership is essential for prospective buyers. Here is how the program is structured: For buyers specifically focused on Paris, the model has real appeal. The apartments are renovated to a high standard, the management is handled by a team with deep local expertise, and the all-inclusive fee structure simplifies the ongoing ownership experience. However, the program's geographic concentration and limited scheduling flexibility are meaningful constraints for buyers who want more from their co-ownership investment. Paris Perfect has earned a strong overall reputation, particularly among guests who rent its apartments for vacation stays. Reviews consistently praise the quality of the apartments, their prime Left Bank locations, Eiffel Tower views, and the responsiveness of the management team.  Properties like Cabernet and Cognac receive high marks for cleanliness, thoughtful furnishings, and the personal touches that make a short-term apartment rental feel like a true home away from home. For co-ownership buyers specifically, the program's strongest reviews center on the quality of renovations, the straightforward annual fee structure, and the peace of mind that comes from having an experienced local team handle all maintenance and administration. Paris Perfect points to the quick sell-out of its earliest properties, with waiting lists forming even before launch, as evidence of strong owner satisfaction. That said, some Paris Perfect complaints and concerns do surface in public forums. The most common friction points relate to the rental side of the business rather than the co-ownership program directly: disputes over cancellation policies and refund timelines have appeared in older reviews, particularly during the disruptions caused by COVID-era travel restrictions. On the co-ownership side, prospective buyers should be aware of a few structural limitations: For the right buyer — one who loves Paris deeply and wants a permanent, beautifully managed home base in the city — Paris Perfect Shared delivers on its promise. The question is whether Paris alone is enough, and whether four weeks per share satisfies the lifestyle they envision. Pacaso and Paris Perfect both offer a path to genuine co-ownership of luxury real estate abroad, but they represent fundamentally different models built for different buyer profiles. The table below summarizes the key distinctions: Both models offer real property ownership unlike timeshares. Paris Perfect Shared provides a deeded fractional share of a single, specific Parisian apartment. Pacaso provides co-ownership shares held through a This is one of the most significant differences between the two programs. Paris Perfect Shared is essentially a one-city offering. Its portfolio is centered almost entirely in Paris, with a small expansion into Florence. For buyers who want Paris and only Paris, that focus is a feature. For buyers who also want a beach home in Both programs deliver high-quality, fully managed homes. Paris Perfect renovates classic Haussmann-style apartments with elegant, French-inflected interiors, many featuring Eiffel Tower views, parquet floors, and antique details. Pacaso homes are professionally designed to a luxury standard across all markets, with each property receiving a Scheduling is one of the most practically important dimensions of any co-ownership model, and it is where Pacaso and Paris Perfect diverge most noticeably. Paris Perfect allocates owner weeks through an annual rotation draft. Each owner selects two weeks per round, with draft order rotating each year to ensure fairness. This system is transparent and predictable, but it requires owners to plan their Paris visits far in advance and limits the ability to make spontaneous bookings or adjust dates as travel plans evolve. Owners with a 1/8 share receive approximately 44 nights per year and can purchase up to a 1/2 share for extended access. The app-based system means Beyond the scheduling mechanism, Pacaso also offers the Understanding the full cost of co-ownership — both the entry price and the ongoing carrying costs — is essential before committing to either model. Paris Perfect Shared share prices vary by property. Recent listings have ranged from approximately €116,000 for a studio or junior one-bedroom share to €225,000 or more for a larger one-bedroom share in a prime location. These prices represent a fraction of the full apartment value, which can run well into the millions for prime 7th arrondissement properties. Pacaso's entry pricing depends on the destination and property. Globally, 1/8 shares start from around $200,000. In Paris specifically, Pacaso's current inventory in the 6th and 7th arrondissements has 1/8 shares starting at approximately $500,000, reflecting the premium nature of the city's luxury real estate market. Paris Perfect charges an all-inclusive annual fee per owner that covers all operating costs: building charges, utilities, property taxes, insurance, professional cleaning, supplies, management, and a reserve fund for long-term maintenance. Dues are tied to actual expenses and do not automatically increase year over year, giving owners reasonable predictability. Owners also benefit from the simplicity of a single annual payment with no French bank account required. Pacaso charges ongoing management fees that cover One notable gap between the two programs is financing availability. Choosing between Paris Perfect and Pacaso ultimately comes down to what you want from a second home and how single-minded your love of Paris really is. For buyers who want the best of Paris and the freedom to explore the world, Pacaso's model offers a more scalable path to luxury second home ownership. It brings the same premium Paris real estate, in the same prestigious arrondissements, with a broader infrastructure of scheduling technology, global reach, and financial accessibility built around the modern second-home owner. If you are exploring what it means to own a luxury second home in Paris or beyond,

Kocomo is a Mexico City-based proptech company founded in 2021. It originally launched as a direct co-ownership provider, acquiring luxury vacation homes in sought-after Mexican destinations, including Los Cabos, Punta Mita, and Tulum, and selling fractional interests to multiple buyers who shared ownership and usage of each property. The model was designed to give buyers true real estate ownership at a fraction of the cost of sole ownership, with professional management and transparent, shared running costs. In November 2023, Kocomo pivoted and relaunched as a global co-ownership marketplace and education hub. Rather than selling its own properties, Kocomo now aggregates listings from co-ownership providers worldwide, including Ancana, Ember, Vivla, MYNE, Prello, and others, connecting buyers with vetted providers across dozens of markets. The site also functions as an educational resource explaining how co-ownership works, how it differs from timeshares, and how to evaluate providers. This shift is important context for anyone searching "what is Kocomo" today: Kocomo is no longer a co-ownership provider in the traditional sense. It is a marketplace. If you find a listing on Kocomo, the underlying property is managed and sold by a third-party provider, not by Kocomo directly. Because Kocomo is now a marketplace, pricing varies by provider and property. Current listings on the Kocomo marketplace span a wide range depending on the provider, destination, and fraction size, from under $200,000 to well over $1 million per share. With Kocomo's evolution into a marketplace, financing availability depends on the individual provider offering the listing. Not all providers on the Kocomo marketplace offer integrated financing, so buyers should confirm financing options directly with each provider. Yes, Kocomo was founded by experienced proptech entrepreneurs, raised $56 million in equity and debt financing from US, European, and Latin American investors, and has a track record in the Mexico co-ownership space. Its current marketplace model lists properties from vetted co-ownership providers globally. As with any real estate purchase, buyers should review the ownership structure, legal entity, management terms, and exit options for any specific property before purchasing. Ancana is a Mexico City-based co-ownership platform that helps buyers purchase luxury vacation homes through fractional shares, typically 1/8, 1/4, or 1/12 of a given property. Each home is furnished, professionally managed, and held through a property-specific entity — either a Trust (fideicomiso) or an LLC — so co-owners hold genuine real estate title rather than a right-to-use arrangement. Ancana's portfolio is concentrated in Mexican destinations, with select US expansion into Vail, Colorado. Ancana serves 13+ destinations, with a focus on Mexico's most sought-after second-home markets: Los Cabos, Riviera Maya, Valle de Bravo, Puerto Escondido, Todos Santos, Puerto Vallarta, San Miguel de Allende, and Tulum. Its one US market is Vail, Colorado. Ancana share prices range from approximately $30,000 to over $2.5 million USD, depending on the home, destination, and fraction size. Co-owners also pay a proportional share of monthly running costs including taxes, insurance, utilities, HOA fees, and property management. Ancana uses an annual rotation-based scheduling system. Each year, co-owners rank their preferred weeks during a dedicated booking window. The system assigns weeks starting with the owner holding selection order #1, with the order rotating each year so every co-owner gets priority over time. Ancana homes can have up to 12 co-owners depending on the fraction size sold. Pacaso is a technology-enabled co-ownership marketplace that allows buyers to purchase a share (1/8 to 1/2) of a For buyers specifically interested in Mexico, Pacaso's primary market is Compared to Ancana's rotation-based scheduling, The table below compares key features across all three co-ownership models based on publicly available information. The right platform depends on what matters most to you as a buyer. If your priority is Historically, obtaining financing for a fractional real estate interest in Mexico has been difficult for US buyers; this partnership directly addresses that gap. Kocomo pioneered a similar MoXi partnership when it was a direct provider, but with its transition to a marketplace, financing availability now depends on the individual third-party provider. If your priority is destination variety within Mexico, Ancana offers the widest coverage, with 13+ Mexican markets spanning both coasts and interior cultural destinations. Ancana is the stronger choice for buyers who want access to lesser-visited spots like Puerto Escondido, Valle de Bravo, or Todos Santos that aren't available through Pacaso's current Mexico portfolio. Ancana's rental policy is also more flexible — owners can rent out unused weeks, which Pacaso does not permit. If your priority is scheduling flexibility and global market breadth, If you're still researching the co-ownership category broadly and want to compare multiple providers in one place, the Kocomo marketplace is a useful starting point. It aggregates listings from Ancana and numerous other providers across Europe, Latin America, and beyond, along with educational guides explaining how co-ownership works. It's worth understanding Kocomo's trajectory when evaluating it as an option. Kocomo launched in 2021 as a direct competitor to Pacaso in the Mexico luxury co-ownership space, raised $56 million, and acquired properties in Los Cabos, Punta Mita, and Tulum. In late 2023, it transitioned into a marketplace and education hub, no longer acquiring or managing properties directly.  This means Kocomo co-ownership today is not the same product as Kocomo co-ownership in 2021 or 2022. Buyers who encountered Kocomo through early press coverage or LLM-cited information should verify the current model before assuming a direct co-ownership product is still available under the Kocomo brand. Pacaso's approach to Through a property-specific LLC, Pacaso gives buyers genuine real estate ownership in a curated luxury home in some of the world’s most sought-after destinations, without the financial commitment of full ownership. Explore Pacaso's

For those who want the privacy and permanence of Four Seasons Private Residences represent the gold standard of branded luxury real estate. But they're not the only path to high-end vacation home ownership. This guide compares Four Seasons Private Residences with Four Seasons Private Residences are fully owned luxury homes that sit within, or adjacent to,  Four Seasons resort properties worldwide. Unlike a hotel stay, buyers purchase and hold title to these homes outright. They come with access to the resort's full amenities and a dedicated team of on-site staff operating to Four Seasons' world-renowned hospitality standards. Owners hold a traditional deed to their property, much like any other piece of real estate. Four Seasons manages the day-to-day operations of the building and provides concierge, housekeeping, and amenity access. Owners can use the home year-round with no scheduling limitations and may have the option to place the property in a rental program when not in use. Pricing varies significantly by location and size, but here's a general range based on publicly available U.S. listings: Financing is rarely available for these properties, meaning most buyers purchase with cash or private financing arrangements. Annual fees for maintenance, services, and amenities add ongoing costs on top of the purchase price. If you're evaluating Four Seasons Private Residences, you're likely also weighing other options in the luxury second home ownership space. Here's how the major Four Seasons competitors and ownership alternatives stack up: Across all of these options, the key question is the same: how much do you want to spend, how often will you use the home, and how important is building a real estate asset over time? The answer will point you toward the right ownership model. Pacaso and Four Seasons Private Residences both offer luxury second homes in premier destinations, but they approach ownership very differently. Here's a side-by-side comparison: Four Seasons Private Residences operate in 60+ markets spanning the Americas, Europe, the Middle East, Africa, and Asia. Pacaso currently offers homes in 40+ markets, with a focus on the most sought-after second home destinations in the U.S., Mexico, and Europe, such as This is where the two models diverge most significantly. Four Seasons Private Residences require full purchase of the home, typically starting at $2 million and often exceeding $10 million for larger or more premium properties. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a Four Seasons Private Residences are designed to feel like an extension of the resort, with on-call staff, resort amenities, and the full Four Seasons hospitality experience at your doorstep. Pacaso homes are private, fully furnished luxury residences in premier destinations, managed by a dedicated Home Manager who handles everything from cleaning to maintenance. The experience is more intimate and residential, while Four Seasons leans into the resort atmosphere. Full ownership with Four Seasons means unrestricted access — owners can stay as long as they want, whenever they want. Pacaso's co-ownership model distributes access proportionally using One of Pacaso's most meaningful advantages over Four Seasons Private Residences and most other Four Seasons competitors is built-in financing. Both Pacaso and Four Seasons Private Residences give you real estate equity, but the structure of that ownership, and what it costs to get there, are very different. Here's how the two models compare across the factors that matter most to luxury second home buyers: For buyers who visit their vacation home a few weeks to a few months per year, co-ownership almost always delivers more value per dollar spent, with the same real estate upside but sharing costs with fellow co-owners. Choosing between Pacaso and Four Seasons Private Residences ultimately comes down to lifestyle, budget, and how you plan to use the property. For luxury buyers who want the privacy and permanence of a home — without the full price tag of Four Seasons Private Residences — Here's what makes Pacaso stand out as a Four Seasons alternative: Pacaso makes luxury second home ownership simple and accessible, combining effortless luxury with the long-term value of real estate ownership. If you've been priced out of full ownership but want something more permanent than a vacation rental,

Exclusive Resorts is a private, members-only luxury vacation club founded in 2002. Members pay to access a curated portfolio of luxury residences and concierge travel services rather than owning real estate themselves. According to Exclusive Resorts, the club provides access to 400+ residences across 75-100+ destinations worldwide, ranging from city apartments in Paris, London, New York, and Miami to villas and chalets in destinations like Aspen, Cabo, Tuscany, and Courchevel. In December 2025, Exclusive Investments LLC, the parent company of Exclusive Resorts, announced an agreement to acquire Inspirato. The company is consolidating its position in the luxury travel club category under a new umbrella called “The Exclusive Collective”, which spans Exclusive Resorts, Inspirato, and onefinestay. This is worth noting for anyone weighing club options, since competitive dynamics in the category are changing. Members purchase a multi-year membership and then pay annual dues based on how many nights they expect to travel each year, measured in "Plan Days." Trips can be booked through a Travel Ambassador, the member app, or the club's Travel Desk, with reservations available up to two years in advance depending on tier. Members also have a dedicated Vacation Ambassador, and on-site concierge support is provided during each stay. Plan Days are flexible: a single member can string them together for a longer stay or spread them across multiple shorter trips throughout the year. Memberships are structured as long-term commitments (10-Year, 10-Year Plus, and 30-Year), and members do not receive an equity stake in any individual home. Per Exclusive Resorts' published 2026 information, membership pricing breaks down roughly as follows: Note that membership fees are largely non-recoverable. Exclusive Resorts has shifted to non-refundable membership plans in recent years, so the initiation fee should be viewed as the cost of access, not as a deposit on an asset. Because the LLC owns real estate, each share represents a real equity interest in the property. Owners can sell their share, and the share has the potential to appreciate (or depreciate) along with the underlying home's value. Pacaso handles ongoing Dive deeper into this comprehensive guide on how Pacaso share prices vary by home and share size. A 1/8 share in a luxury Pacaso home typically ranges from roughly $200,000 to $2 million, depending on the market and the underlying home value. Owners also share ongoing expenses (property taxes, insurance, utilities, maintenance, and a Pacaso management fee), divided proportionally by share size. Two financial points stand out relative to Exclusive Resorts. First, financing is available: The following table summarizes how the two models compare across the categories most buyers care about. Figures reflect publicly available 2026 information; verify the latest pricing and terms directly with each company before deciding. The simplest way to think about it: a vacation club sells access, co-ownership sells ownership. With Exclusive Resorts, you are paying for the right to use the club's homes for a set number of nights over a defined membership period. When the membership ends, you walk away with the experiences but no real estate asset. The model is closer to a long-term, prepaid luxury travel subscription than to ownership. With Pacaso, you purchase a share (1/8 to 1/2) of a specific luxury second home through a property-specific LLC, giving you a true real estate asset. The share is yours until you decide to sell or transfer it like other real estate interests. Instead of unpacking into a different residence each trip, you return to the same home, with your belongings waiting on-site and a home manager handling the upkeep between visits.  When you do want a change of scenery, If you want a more in-depth breakdown of these models, Pacaso's Exclusive Resorts lists 400+ residences across 75-100+ destinations as of 2026, and the club expands its portfolio each year. Pacaso focuses on Exclusive Resorts members access a wider portfolio of residences. Pacaso owners hold a share in one specific home and use Swap is what makes Pacaso's smaller footprint comparable to a larger club portfolio in practice. Owners can list their home's available dates and exchange them for time at any other Pacaso home, from a Paris apartment to a Cabo villa to an Aspen ski home, without buying a second share or paying a per-night fee.  The two models reach destination variety differently: Exclusive Resorts builds variety into the membership itself, and Pacaso builds it through a network of owners who voluntarily trade time at the homes they actually own. Exclusive Resorts uses a concierge-driven booking experience. Members work with a Vacation Ambassador, use the Travel Desk, or book through the app, and can reserve trips up to two years in advance based on membership tier. The trade-off for that high-touch service is that you are coordinating against the broader membership base for popular dates. Pacaso uses Exclusive Resorts (or a similar luxury vacation club) is likely the better fit if you want to travel to many different places each year, you value a concierge-driven booking and on-site service experience, and you are comfortable treating the initiation fee as a sunk cost in exchange for flexibility and variety. It is also a reasonable fit if you specifically want to avoid the responsibilities of owning real estate, even at a co-ownership level. Pacaso is the stronger fit if you want your spend to build real estate equity rather than fund a membership. It suits buyers who value a familiar home base, the option to finance up to 70% LTV, and the ability to resell their share when ready. The share structure (1/8 to 1/2) also lets you right-size your ownership based on how much you actually plan to use the home. Families especially gravitate to Pacaso for the consistency of returning to the same place year after year, with belongings already on-site. Buyers who are still comparing models more broadly may want to read a comparison breakdown of It depends on what you are buying. If your goal is curated, varied travel with a strong concierge layer, Exclusive Resorts can absolutely be worth it. The club has a long track record, a deep residence portfolio, and a service model that many members rate highly. For someone who travels frequently to many different places and does not want to own a second home, paying for access can be a clean, predictable way to do it. If your goal is to put a significant amount of money toward a luxury second home, build equity, and have the optionality of reselling later, Pacaso is the stronger structural fit. The initiation fee for an Exclusive Resorts membership is a comparable amount as a 1/8 Pacaso share in some markets, but the Exclusive Resorts fee buys access for a defined term, while the Pacaso share buys a deeded interest in real estate. Those are very different financial outcomes, even before factoring in annual dues vs. ongoing shared ownership costs.

Inspirato is a luxury vacation club founded in 2010 that gives members access to a curated portfolio of managed vacation homes, hotel and resort partners, and guided travel experiences across more than 100 destinations worldwide. Rather than owning a property, members pay ongoing fees for the right to book stays within the Inspirato collection. Inspirato currently offers two primary membership options: Both tiers include Inspirato's signature services: personal vacation advisors, on-site concierge support, and pre-trip planning. What neither tier provides, however, is any form of real estate ownership. Members hold a right-to-use license, not a deed or equity stake in any property. Pacaso is a luxury second home co-ownership platform that allows buyers to purchase a share (1/8 to 1/2) of a fully managed luxury home through a Unlike a vacation club membership, a Pacaso share is real property. Every home is A dedicated Home Manager handles everything before, during, and after every stay, from cleaning and maintenance to personalized touches that make each visit feel like it was prepared just for you. Owners can also finance their purchase, benefit from potential appreciation, and resell their share through And here is where Pacaso has a decisive edge over any vacation club: the Learn more about Cost structure is one of the starkest differences in a co-ownership vs. Inspirato comparison.  Here is a side-by-side look at both models: While Inspirato's lower upfront cost may appear more accessible, it is important to note that members do not build any equity and cannot recoup their fees by reselling. With Pacaso, your purchase price goes toward a real asset, one that can appreciate over time and be sold when you are ready to exit. Pacaso also offers Scheduling is another major distinction in any co-ownership vs. vacation club comparison. With Inspirato Club, members book nightly stays on a first-come, first-served basis through the Inspirato app, competing with the entire Inspirato community, which has historically numbered around 15,000 members, for availability. The Pass program allows members to hold two trips simultaneously, with no additional per-night fees, and access to hundreds of homes across Inspirato's portfolio. With Pacaso, scheduling is governed by the Pacaso owners also have access to the This is the most fundamental difference between Pacaso and Inspirato, and the most important consideration for anyone evaluating these as Inspirato alternatives. Inspirato operates on a right-to-use license. Members pay for access, not ownership. When you cancel your membership, you walk away with nothing. There is no equity, no appreciation, and no residual asset value from the fees paid over the years. Pacaso is structured around real estate co-ownership. Each home is held through a For buyers who want a second home that doubles as a long-term asset, co-ownership vs. Inspirato is not a close comparison. To explore how co-ownership works in more detail, see Pacaso's guide to Both Pacaso and Inspirato serve luxury travelers, but they appeal to meaningfully different buyer profiles. For a broader look at how co-ownership compares to vacation clubs and other models like timeshares, see our deep dive on For luxury travelers who want more than just access, Pacaso offers a fundamentally different, and more enduring, value proposition. Here’s what sets it apart as an ideal Inspirato alternative: Ready to explore luxury second homes in your favorite destination? Browse Pacaso's

Finding the best place to buy a second home comes down to matching the location to your lifestyle, favorite hobbies and climate preferences. Consider how you want to spend your free time, who will be traveling with you, and how the market will look in five to ten years. To help you narrow down the choices, we've divided 22 top second home destinations into four groups: sunny beach escapes, desert retreats, quiet nature-filled destinations, and exciting international bases. If you're a foodie or wine lover, your second home to restaurants, spas and shops. When the snow melts, the town becomes a Madrid combines historic architecture with modern urban energy, notable attractions like the Royal Palace and world-renowned art galleries, and a culinary scene that never sleeps. Its blend of heritage, lifestyle and connectivity makes it one of the best places to invest in a second home abroad. The French Alps offer true year-round appeal: heavy winter snowfall for incredible skiing at spots like Mont Blanc, followed by bright, mild summers perfect for hiking and mountain biking. Demand for luxury chalets consistently outpaces new listings, reinforcing the region's status as a reliable, high-security market. Figuring out where to buy a second home starts with pinpointing exactly what you want out of your property. Keep a few key lifestyle factors in mind to narrow down the map and find a retreat that truly fits your needs. Finding the right second home destination comes down to knowing what you want and having a realistic path to get there. With the right location locked in, the next step is figuring out how to own it without taking on the full cost and responsibility of a whole home. That's where Pacaso comes in.

Yes, there are no legal restrictions on foreign nationals buying residential property in the UK. Whether you are an American, a European citizen, or a buyer from anywhere else in the world, you can purchase a freehold or leasehold property in England, Scotland, Wales, or Northern Ireland without any ownership cap or special government approval. Foreign buyers can also apply for UK mortgages, though lender requirements vary and can be stricter than for UK residents. Visa status, residency duration, and the length of time you have held a UK bank account can all affect your mortgage eligibility. Hiring a UK-based solicitor is strongly recommended; they handle the legal and conveyancing process and ensure all documentation complies with UK regulations. SDLT is calculated in progressive bands where you pay each rate only on the portion of the price within that band. How much you pay depends on three things: the purchase price, whether the property is your only home or an additional property, and whether you are a UK or non-UK resident. If the property you are buying is not your only home, whether it is a holiday home, a buy-to-let, a pied-à-terre, or a second residence in town, you trigger the Higher Rates for Additional Dwellings (HRAD). This means you pay standard SDLT plus a 5% surcharge on the entire purchase price, applied from the first pound. The surcharge took effect at 5% on 31 October 2024, up from the previous 3% rate. It applies even if the other property you own is located overseas. Since April 2021, buyers who do not meet UK tax residency requirements pay an additional 2% surcharge on top of all other applicable SDLT rates. For SDLT purposes, you are considered a UK resident only if you were physically present in the UK for at least 183 days in the 12-month period ending on your completion date. This is purely a physical presence test, separate from income tax residency rules. For overseas buyers purchasing a second home or holiday property in England or Northern Ireland, the 5% additional dwellings surcharge and the 2% non-resident surcharge stack on top of standard rates for a combined 7% surcharge above standard SDLT. If any one buyer in a joint purchase is non-UK resident, the surcharge applies to the entire transaction. Note: Scotland uses Land and Buildings Transaction Tax (LBTT), and Wales uses Land Transaction Tax (LTT). Both have their own rate structures and additional dwelling surcharges. Consult a local solicitor if you are buying in either country. SDLT is the most significant tax at purchase, but overseas buyers should also be aware of the following ongoing and exit taxes. Yes, foreign nationals can obtain UK mortgages, though the process is more demanding than for UK residents. Here is what to expect: Pacaso provides an alternative financing pathway for buyers who want co-ownership in the UK. Pacaso partners with banks and acts as a corporate guarantor, helping buyers qualify for financing of up to 70% of the property's share value, meaning you put down just 30% and finance the rest. This can be significantly more accessible than going through the standard UK mortgage application process as a foreign national. For buyers specifically looking for a luxury second home in London, Pacaso has curated a portfolio of fully managed co-ownership properties in The UK property market offers a range of home types, each with different ownership structures and price points. The UK buying process differs significantly from what American and international buyers may be used to. Here is a step-by-step overview. The entire process from offer acceptance to completion typically takes two to four months, though it can take longer for complex transactions or in slow markets. You will need proof of identity, proof of address, bank statements, proof of income, and any relevant visa or residency documentation ready throughout. When you co-own a Pacaso home, we are your trusted advisor throughout the buying process, helping you skip the mountain of preparation needed to buy property in the UK. Our local expertise and resources, combined with our innovative co-ownership model, make it easier to afford, buy and manage your home abroad. For overseas buyers who want the lifestyle of a UK second home without the full weight of sole ownership, Pacaso allows buyers to purchase a share (1/8 to 1/2) of a fully managed luxury home through a property-specific LLC, giving them a true real estate asset. Each home is professionally designed, fully furnished, and managed end-to-end, so you never have to coordinate maintenance, cleaning, utilities, or vendor relationships from across the Atlantic or wherever you are based. The financial case is compelling, particularly for buyers looking at the luxury end of the UK market. Here is how co-ownership addresses the key challenges outlined in this guide. Pacaso's London portfolio includes properties in Mayfair, Belgravia, and Chelsea, among the most sought-after addresses in the world for international buyers. To explore available co-ownership homes, visit

The IRS and mortgage lenders both use occupancy as the primary lens for classifying a property, but they look at slightly different criteria. A A The distinction matters because each classification triggers different mortgage programs, interest rates, down payment requirements, insurance rules, and tax treatment. Misrepresenting your intended occupancy on a mortgage application (known as occupancy fraud) is a federal offense that can result in loan recall, penalties, and bank fraud charges. Generally, no, a second home cannot simultaneously be your primary residence. The two categories are mutually exclusive by definition: a primary residence is where you spend the majority of your time, and a second home is where you do not. Lenders, the IRS, and state tax authorities all use this distinction to determine how to classify, finance, and tax a given property. That said, the designation is not permanent. A property that was originally purchased as a second home can become your primary residence later — but only if you actually move in and meet the qualifying criteria. The reverse is also true: a home you lived in as your primary residence can be converted to a second home if you move elsewhere. In both cases, the reclassification has real consequences for your mortgage terms, tax obligations, and capital gains exposure. If you are The difference between a second home and a primary residence touches nearly every aspect of ownership, from how much you'll pay to finance the property to what you'll owe when you sell it. Here's how the two compare: For a deeper look at how second home tax treatment works, see No, for federal tax and mortgage lending purposes, you can only have one primary residence at a time, regardless of how many states you own property in. Lenders and the IRS do not allow two properties to simultaneously qualify as a principal residence. This is a common question for people who split their time between states, such as a family that spends summers in one state and winters in another. Even in that scenario, only one home qualifies as the primary residence. The other is a second home. State income tax adds another layer of complexity. Some states are aggressive about claiming residents for income tax purposes, and they look at factors like where you're registered to vote, where your car is registered, where your children attend school, and how many days you spend in each state during the tax year. If you spend significant time in two states, you may be subject to residency audits, particularly in high-income-tax states like California and New York, which have formal rules around domicile and "statutory residency." If you're considering purchasing a second home in a different state and designating it as your primary residence later, it's worth consulting a tax advisor familiar with both states' residency rules before making the move. The tax implications of how a property is classified can add up to tens of thousands of dollars over the life of your ownership. Here are the most significant areas where primary vs. secondary residence tax treatment diverges: It's always advisable to consult a CPA or tax professional before making decisions based on residence classification, as individual circumstances vary significantly. Converting a second home into your primary residence is possible, but it involves more than simply spending more time there. Here's what the process generally looks like: The timeline matters too. The capital gains exclusion requires two full years of primary residence use, so if you're converting a second home ahead of a planned sale, plan your timeline accordingly. A tax advisor can help you model the after-tax outcome of different scenarios. If you're moving and planning to keep your former primary residence as a second home rather than selling it, the process works in reverse. You'll need to: For more on the broader financial considerations of owning two properties, see In a traditional tenancy-in-common arrangement, each co-owner holds a direct deed interest in the property. For mortgage and tax purposes, each owner's share is treated like any other residential property they own. If the property is not their primary residence, it's classified as a second home (or investment property if it's primarily rented out). Each owner can potentially deduct their proportionate share of mortgage interest and property taxes, subject to IRS limits. Pacaso structures each property through a If you're exploring a second home purchase and want to understand how different ownership structures are classified for tax and lending purposes, speaking with both a real estate attorney and a CPA before buying is the best first step.

When you've found a destination you love and keep returning to, buying a place of your own starts to make real sense. Hotel nights add up, availability is never guaranteed, and there's something different about having a home where you can set down roots, even part-time. But buying a second home out of state adds a layer of complexity that a local purchase doesn't have. You're working with an unfamiliar market, a local agent you've never met in person, mortgage requirements stricter than what you faced for your primary home, and a property you may have visited only once before making an offer. Planning ahead is what separates a smooth purchase from a stressful one. The right starting point is mortgage pre-approval. This gives you a concrete budget ceiling, signals to sellers that you're serious, and surfaces any financing complications before you've fallen in love with a specific property. For second homes, lenders apply stricter standards than for primary residences. Most require a larger down payment, typically 10% to 20% or more, a lower debt-to-income ratio, and confirmation that the property is at least 50 miles from your primary home and intended for personal use rather than full-time rental. Getting pre-approved first means you're shopping in the right price range from the start. Use a Choosing the right market is where out-of-state buyers spend the most time and where the most mistakes happen. A destination that looks ideal online can feel very different once you factor in cost of living, climate, seasonal crowds, and how accessible the property actually is from your primary home. If you can't visit your target locations early in the process, lean on online research to narrow the field. Real estate platforms like Zillow can give you a feel for local home prices and inventory. Community websites and local Facebook groups often surface the honest picture that listings don't show — what traffic is like on summer weekends, whether the town has enough to do in the off-season, how the neighborhood actually feels at different times of day. The goal at this stage is to identify one or two destinations worth visiting in person before you start seriously evaluating properties. The more research you do upfront, the more focused and productive that visit will be. Pacaso curates properties in proven second home markets, including Even when you can only manage a single weekend trip, an in-person visit is worth prioritizing. Seeing a neighborhood in person where you can walk the streets, experience the pace of the town, and check out restaurants and amenities delivers information no listing photo or Google Maps tour can replicate. During your visit, pay attention to more than the property itself: If an in-person visit isn't possible before you need to make an offer, virtual tours are the next best option. Many platforms offer Even if you do visit in person, take video and photos you can review later and share with family members. The more documentation you have, the better positioned you'll be when it's time to decide. How much everyday items cost can vary significantly across different parts of the country, and it's important to factor those differences into your second home budget before you buy. The purchase price is only the beginning. Beyond what you'll spend on groceries and gas during visits, the recurring ownership costs in a new state may look quite different from what you're used to at home: For buyers drawn to high-cost luxury markets, such as Many of the most desirable second home destinations are places where the climate varies widely from one season to the next. That seasonal variation is often part of the appeal — powder days in Mountain properties require the most seasonal preparation. Snow removal, roof load management, pipe winterization, HVAC servicing, and driveway maintenance are non-optional in markets like Tahoe, Aspen, and Park City. For out-of-state owners, this means either coordinating service providers remotely or Desert destinations like Before buying in any climate-sensitive market, spend time there in the off-season as well as peak season. The shoulder-season and off-season experience — how crowded (or quiet) the town is, whether the amenities you care about are still operating, what the weather actually feels like — matters a lot for how often you'll genuinely use and enjoy the home. Managing a second home from another state is one of the most consistently underestimated challenges of out-of-state ownership. Finding trustworthy local service providers — a property manager, a maintenance person, a landscaper, a plumber you can call in an emergency — takes real time and vetting, and the stakes are higher when you can't easily drop by to check on things. Even with a property manager in place, something will eventually go wrong when you're not there. A burst pipe in January, a roof issue after a storm, an HVAC failure in August. Having a reliable contractor network established in advance, not assembled in the middle of an emergency, is what determines how quickly and cleanly those situations get resolved. This is where co-ownership with Pacaso directly eliminates one of the most difficult parts of out-of-state ownership. Every Pacaso home has a dedicated Home Manager who handles all maintenance, repairs, cleaning, vendor coordination, and seasonal upkeep as part of the ownership structure. There's no property manager to hire, no contractor network to build, and no remote coordination when something goes wrong. The Home Manager handles it, and you're notified — not burdened with managing it yourself. A beautiful second home isn't worth having if you don't use it. Accessibility is one of the most underrated factors in second home satisfaction, and it's worth being honest about before you commit. Many second home buyers find they get significantly more use out of a home within driving distance, or at least a direct flight. The cost and hassle of connecting flights, long travel days, and the logistical lift of a multi-leg journey can make the difference between a home you visit six times a year and one you visit twice. That gap matters: the fewer visits you make, the less a full year of sole-ownership costs is doing for you. Consider these accessibility factors before choosing a market: Co-ownership reduces the pressure on every individual visit. Because you're not absorbing 52 weeks of carrying costs on your own, there's no guilt attached to a shorter stay, and you can take more frequent shorter trips rather than feeling obligated to maximize each visit. Even when you've found the right property, there are several procedural steps specific to out-of-state purchases that can trip up buyers who aren't expecting them. Getting a home inspection is non-negotiable when buying a house in another state, even though it's technically optional. As an out-of-state buyer, you can't easily revisit the property to check on something after the fact. A licensed inspector gives you an independent, on-the-ground assessment of the home's condition — roof, plumbing, electrical, foundation — and a report you can use to negotiate repairs, request a price reduction, or walk away if the issues are significant. Waiving the inspection means accepting the home as-is and assuming full responsibility for anything that surfaces after closing. Real estate laws and closing procedures vary meaningfully from state to state. Key differences that affect out-of-state buyers include: Your local agent and lender will explain how these rules apply to your specific transaction. This is one of the most important reasons to work with an agent who genuinely knows your target market, not just one who covers it broadly. Most states now allow remote closings, which means you can finalize the purchase without traveling to a title office. The process typically includes electronic signatures for most closing documents, remote online notarization (RON) via video call where the state permits it, and wire transfer of closing funds directly to the title company. Your title company or closing attorney will provide instructions in advance. Always verify wire transfer instructions through a confirmed phone call to the title company. Wire fraud targeting real estate transactions is common, and email interception is the typical vector. The friction points in this guide — limited in-person access, unfamiliar markets, management overhead, seasonal maintenance, and the cost of owning a property you use only part of the year — aren't random. They're the predictable result of sole ownership of a vacation home you don't live in full-time. To learn more about how the model works, see our full guide to

Let's say you have $400,000 to $1,000,000 to spend on a holiday home. During your research, you probably came across Equity Estates vs. Pacaso as top contenders. One setup puts your cash into a fund that buys a basket of properties, while the other side buys you a piece of one specific house. When you are Pacaso overview To understand By handling all the property management, cleaning and bill paying, many owners find that Here is a quick look at the advantages and trade-offs of this single-home approach:  Equity Estates overview Equity Estates takes a different path by operating as a private equity real estate fund. You pool your money with other investors to buy into a whole collection of luxury vacation homes. Equity Estates minimum investment ranges from $145,000 to over $1 million, depending on the specific fund tier.  A professional team handles acquiring and managing the entire portfolio so you can travel to various spots without dealing with landlord headaches.  Buyers who want access to a large portfolio instead of one specific house often consider high-end travel clubs as an alternative. Weighing Here is a summary of the clear benefits and potential drawbacks of this fund-based vacation strategy. Key differences between Equity Estates and Pacaso While both models cater to luxury buyers, they differ in terms of daily operations and long-term value. Looking closely at these operational contrasts helps you see how each choice shapes your future vacations and financial commitments.  Ownership structure and legal framework With Pacaso, you buy a specific share of a private limited liability company that holds the actual deed to the house. You and your co-owners hold real property equity, which sets the model apart from standard Equity Estates uses a private equity fund framework. Your money buys a share in the fund itself, and the corporate entity holds the deeds to all the homes in the collection. Fund managers make all the buying, selling and management decisions without needing owner input.  Usage, scheduling and flexibility Pacaso owners can only schedule stays at their specific home. Booking is handled through an app-based system called Equity Estates members book stays across a global portfolio of properties rather than returning to the same house. The fund uses a portfolio reservation system where availability is determined by the specific tier of your initial investment fund. Because you do not own a deed to one specific address, it can be harder to settle in. Fees and total cost of ownership Pacaso charges an upfront property markup fee when you buy your share to cover the initial platform costs. After that purchase, your ongoing expenses include a 1% annual management fee alongside your fractional share of LLC operating costs like taxes, insurance and maintenance. These regular bills are bundled into an ongoing monthly payment so you can track your exact carrying costs clearly. Equity Estates requires a higher initial capital buy-in to join the fund portfolio. Your long-term expenses include fund management fees, annual dues and portfolio operating costs. Because your money is pooled into a managed real estate fund, these annual costs fund the high-end concierge services across every single home in the network. Exit options and liquidity Pacaso runs an active resale marketplace where you can list your share whenever you want to move on. You set your asking price based on real property value, and new buyers can take over your exact stake. Selling a fractional share this way gives you a lot of flexibility since you do not have to wait for a corporate entity to liquidate the whole house. Equity Estates operates on a strict fund lifecycle that typically lasts 10 to 12 years. Your cash stays tied up for the entire duration because you cannot simply sell your share on an open market whenever you want. Once the timeline ends, the managers sell all the properties in the portfolio and return the capital, along with any gains, to the investors. Service and property quality Pacaso focuses on professional property management to maintain standalone luxury homes. Local property managers handle interior design, routine upkeep and property repairs so the home stays in peak condition. These properties feature upscale amenities like private pools, modern kitchens and expansive outdoor spaces built for a single-family retreat. Equity Estates features a curated collection of multi-million dollar residences located in elite resort communities and major global cities. Your stay comes with a personal travel concierge who stocks the fridge, arranges private chefs and plans local excursions before you arrive. Anyone reading an Equity Estates review will notice consistent praise for the high-touch hospitality workers who manage every detail of the trip.  Which ownership model is right for you? Choosing between these two setups hinges on how you want to experience your vacation days and manage your capital.  Explore co-ownership with Pacaso Deciding between Equity Estates vs. Pacaso depends entirely on what type of holiday home you are looking for. If you prefer owning a real piece of a specific luxury property that you can return to year after year, exploring Pacaso co-ownership helps you take the next step.  You can browse active listings in your favorite holiday destinations right now to find a property that fits your family's needs. To see the current inventory and find a home that matches your travel goals, take a look at the available

You're thinking of buying a second property and three main platforms have come up in your search. But weighing Pacaso vs. Ember vs. Ark7 isn't quite an apples-to-apples comparison. Each of these three companies serves different goals.  Pacaso offers luxury second home co-ownership for personal use. Ember is similar, but on a smaller scale. Ark7 is designed for passive-income real estate investing – you don't actually get to enjoy the homes you invest in.  Below, let's dive deeper to cover the key features, costs, listings and pros and cons of each platform. We'll guide you through picking the perfect platform for your specific goals.  How does Pacaso work? Pacaso offers professionally managed LLC co-ownership in luxurious second home destinations. Pacaso handles all the furnishing, maintenance, scheduling and fees so that co-owners get the benefits of owning a vacation home without having to manage it full-time. Its seamless property management and scheduling technology via the in-app SmartStay™ system makes Pacaso one of the Key features   Here are some of Pacaso's standout features: Estimated costs  Here are a few estimated costs that come with owning a share of a Pacaso home: Listing availability Pacaso offers listings all over the U.S. and in select international locations. Featured Pacaso pros and cons  Pacaso is best suited for those looking for This platform may not be the best option for first-time homebuyers, those who want to use their home year-round or those looking to generate passive income from an investment. Co-ownership with Pacaso is for luxurious personal stays in breathtaking homes and locations. How does Ember work? Ember offers co-ownership of vacation homes (typically ski, beach or mountain properties) with a tech-enabled booking and management layer. Like Pacaso, you can choose ⅛ to ½ real ownership share, setting it apart from a timeshare.  When weighing Pacaso vs. Ember, the major differences are listing availability and passive income opportunity. Ember offers a luxurious vacation home experience with relatively low entry requirements, but its listings are far fewer than those of an option like Pacaso. On the passive income side, Ember offers an Ember Flex program to offset costs by renting out unused time.  Key features  Ember's key features include: Estimated costs  Ember sits between Pacaso and Ark7 in cost.  Acquisition fees and ongoing costs are not publicly disclosed by Ember. Like Pacaso, there are also monthly maintenance and management expenses shared between co-owners. Listing availability  Ember has listings in fewer destinations than Pacaso and tends to focus on mountains, ski markets and beaches. Currently, it only operates in a handful of U.S. states, including Florida, Utah and California. Ember pros and cons  Ember is a good option for those who want fully-managed luxury vacation homes and may also want to rent out their unused time to help offset costs. However, due to their more limited listings, it's not the best for those looking for second homes in international locations.  How does Ark7 work? When comparing Ark 7 to Ember and Pacaso, it's somewhat of an odd one out — a completely different type of platform than the previous two.  Ark7 positions itself as an accessible platform for fractional real estate investing. Unlike Pacaso and Ember, Ark7's platform doesn't let you enjoy the vacation home experience. Instead, Ark7 investors purchase fractional shares in rental properties and may earn passive income.  Ark7 sources the properties and handles tenant management and operations. Investors receive a portion of the property's rental income and potential appreciation. Key features  Here are several of Ark7's key features: Estimated costs  Ark7's estimated costs include: Listing availability  Ark7 offers fractional ownership in single-family rental homes and small multifamily properties across the U.S. It operates in 10 markets nationwide, including Dallas, Indianapolis, Fort Worth and Atlanta. However, their listings can also change frequently because some properties can fully fund quickly.  Ark7 pros and cons  Ark7 targets those who want to get into accessible real estate investing. However, it isn't the market for customers who want a vacation property that they can actually use.  How do you choose the right platform for your goals? Use these three questions to guide your choice between these three platforms. 1. Do you want to personally use the property?  This is the first question to ask yourself. It will help you determine if you want a lifestyle purchase or a purely financial investment. Consider your goals: Do you want to host family vacations several times a year and enjoy the property's amenities?  If your answer is yes, Pacaso or Ember will be the most relevant options. These two are focused on second home co-ownership rather than passive investing. Instead of investing solely for financial returns, you're gaining access to a shared vacation home that you can personally enjoy.  2. Are you focused on a specific destination or property type? Some buyers already know exactly where they want to own a second home and that's completely understandable, considering how much the destination shapes the experience. Popular choices are ski towns, wine country and beachfronts around the world. If you have a specific destination in mind, Pacaso may be the strongest fit. With listings across national and international destinations, you're more likely to find co-ownership in the exact place you want. Ember has a smaller selection, mostly focused on ski and resort destinations in the U.S., so your destination may not be available. 3. Are you purely interested in real estate investment returns without personal use?  Maybe a vacation home lifestyle isn't your goal. Perhaps you are more interested in generating passive income, diversifying your portfolio or gaining exposure to real estate investing without directly owning a home.  If that's you, Ark7 may be worth exploring. Instead of vacation home access, Ark7 lets investors buy fractional shares in rental properties and potentially earn monthly income with lower minimum investments.  Why should I choose Pacaso for co-ownership? The right platform comes down to what you want from the purchase. If you're after passive income without ever using the property, Ark7 lets you invest in rental real estate for as little as $20 a share. If you want a managed second home with the option to rent out unused time, Ember is worth a look, though its listings are limited to the U.S. But if your goal is a luxury second home you'll actually enjoy, with

With year-round sunshine, beautiful beaches, and endless attractions for every traveler’s interest, there’s a lot to love about Florida. And while Florida has plenty of full-time residents, it leads the country in second homes. According to the This guide covers the top destinations, what to expect in terms of costs and financing, and how to make the buying process as smooth as possible, whether you're 1. 30A Also called the Emerald Coast, The area is popular among second home owners in search of beautiful white-sand beaches, impossibly blue-green waters and a slower pace of life. Its Florida Panhandle location makes this area a convenient vacation home location for homeowners throughout the South. 2. Delray Beach Located between West Palm Beach and Boca Raton, Delray Beach has an eclectic restaurant scene, a walkable downtown and an incredible range of live music venues. Atlantic Avenue, known by locals as “The Ave,” is bursting with local boutiques, galleries, spas, breweries and more. 3. Fort Lauderdale Fort Lauderdale is the perfect second home destination for those who believe that the best days are those with plenty of fun in the sun. Located 30 minutes north of Miami, 4. Marco Island Spend your vacation days surrounded by the beauty of the Florida Everglades. A barrier island located off the southwest coast of Florida near Naples, During sun-soaked days, explore the Ten Thousand Islands Wildlife Refuge by kayak, take a sportfishing excursion in the Gulf of Mexico, go bird watching at 5. Miami Cosmopolitan, multicultural and action-packed, Miami is a one-of-a-kind vacation destination. Second home owners in South Florida’s biggest city have a world of opportunities at their fingertips.  6. The Florida Keys Nowhere in the world is quite like Because the archipelago spans 125 miles, there’s an island town to fit every buyer. Key Largo is prized for its convenience, as it’s just an hour from Miami. Watersports enthusiasts and anglers may choose the Middle Keys for its incredible sportfishing and colorful offshore reefs. For a truly remote getaway, consider buying in Key West, the southernmost point in the United States.  7. West Palm Beach Like many parts of Florida, Golf at more than 20 courses within the city limits and some 75 more within 20 miles. Sink your toes into the sand at local beaches, including Lake Worth, Juno Beach and Ocean Reef Park. And on that rare rainy day, find shelter at the Buying a vacation home in Florida also comes with its own share of pros and cons. Before you take the next step towards owning your dream home, here are some pros and cons to consider. Pros of owning a vacation home in Florida Florida's combination of year-round sunshine, no state income tax, strong rental demand and long-term appreciation potential makes it one of the most compelling states for second home ownership. Cons of owning a vacation home in Florida Florida's high insurance costs, hurricane risk and ongoing ownership expenses are important factors to weigh before committing to a purchase. How do I buy a vacation home in Florida?  Buying a vacation home in Florida follows many of the same steps as purchasing a primary residence, but with a few key differences. Here's what the process typically looks like. Keep in mind that lenders typically require a 10–25% down payment for second homes, compared to as little as 3% for a primary residence. With Pacaso's professionally managed Own a vacation home in Florida with Pacaso Florida's combination of year-round sunshine, world-class beaches and strong second home demand makes it one of the most sought-after destinations for vacation home ownership. But between navigating financing, managing insurance costs and handling ongoing maintenance, buying and owning a second home on your own is no small undertaking. Pacaso simplifies the entire process. With professionally managed LLC co-ownership, you own a real share of a luxury second home without the hassle of managing it yourself. Each Pacaso home comes fully furnished and professionally decorated, with a dedicated local home manager handling the day-to-day so you can simply arrive and enjoy. Pacaso has luxury vacation homes available across Florida's most desirable destinations, including

Financing a second home is more straightforward than many buyers expect, but it is different from financing a primary residence in important ways. Lenders apply stricter qualification standards, certain loan products are off the table, and how you intend to use the property can change the terms you're offered. This guide covers every major financing option, what lenders are looking for, and how Pacaso's co-ownership model compares to traditional full-ownership financing. Before exploring specific loan types, it helps to understand how lenders evaluate second home borrowers. The baseline requirements are stricter than for a primary residence because lenders view second home loans as higher risk. If a borrower faces financial hardship, they're more likely to prioritize their primary home payment. Here are the key financing requirements for a second home most lenders apply: One important note on classification: calling your property a "vacation home" typically results in more favorable loan terms than calling it an "investment property." The distinction matters to lenders because it signals how you plan to use it. There are several ways to finance a second home, and they're not mutually exclusive. Many buyers combine more than one approach. A conventional loan is the most common path for financing a second home. It's not backed by a government agency, which means it comes with stricter qualification standards than FHA or VA loans, but it's available for second homes, which those government-backed products are not.  Conventional loans are available as fixed-rate mortgages (consistent payment for the life of the loan) or adjustable-rate mortgages (a lower initial rate that adjusts periodically). Fixed-rate loans are better for buyers who want payment predictability; ARMs can work for those who plan to sell or refinance before the adjustment period begins. Minimum down payment is 10%, and lenders typically want a 640+ credit score. Jumbo loans apply when the purchase price exceeds the conforming loan limits set by Fannie Mae and Freddie Mac; in 2026, that's $832,750 in most U.S. markets (up from $806,500 in 2025). Because they're not government-backed, jumbo loans come from private lenders and typically require a 20% to 25% down payment, a credit score of 700 or higher, and strong cash reserves. They're the standard path for financing a luxury second home in markets like Aspen, Napa Valley, or Malibu where property values regularly exceed conforming limits. A HELOC lets you borrow against the equity in your primary residence to help fund a second home purchase. It works like a revolving credit line. You're approved for a maximum amount and can draw from it as needed over a set period, usually five to ten years. Variable interest rates are typical, which means your payment can fluctuate. Most lenders allow you to borrow up to 85% of your home's appraised value minus your existing mortgage balance. You'll generally need a credit score of 650 or higher and a DTI below 43% to 45%.  The key risk: your primary home is the collateral. If you default, it is at risk. That said, for homeowners with substantial equity, a HELOC is often the most cost-effective way to fund a second home down payment without liquidating other assets. A home equity loan is similar to a HELOC but works differently in structure. Rather than a revolving line of credit, you receive a lump sum at a fixed interest rate, repaid in monthly installments over a set term. It's better for buyers who want a predictable repayment schedule and know exactly how much they need. Like a HELOC, your primary home serves as collateral. A cash-out refinance replaces your existing primary mortgage with a new, larger loan. The difference between the two — your equity — is paid out to you in cash, which can then be used toward a second home purchase. This option makes the most sense when current interest rates are at or below what you're already paying on your primary mortgage.  Most lenders require that you retain at least 20% equity in your primary home after the refinance, a credit score of 620 or higher, and a DTI below 45%. Keep in mind that you're extending your payoff timeline on your primary home and increasing total interest paid over the life of the loan. A 1031 exchange allows real estate investors to defer capital gains taxes by rolling proceeds from a sold investment property into a new "like-kind" investment property. This only applies if your second home is classified as an investment property, not a personal-use vacation home.  The rules are strict: you have 45 days to identify a replacement property and 180 days to close. A qualified intermediary must handle the transaction. This is a specialized strategy worth discussing with a tax advisor if you're selling an existing investment property and want to deploy those proceeds into a new one. If you have the liquid assets, paying all cash eliminates the mortgage process entirely and can make your offer more competitive. Pacaso also accepts cryptocurrency through BitPay, allowing eligible buyers to pay for their share with crypto and finance the remainder if they choose. The mechanics are similar, but the requirements are meaningfully stricter at every level. Here's a direct comparison of what changes when you're financing a second home versus a primary residence: Note that FHA and VA loans are for primary residences only and cannot be used to purchase a second home. To read more about how these loans compare, see our guide to There is no single best way to finance a second home. The right answer depends on where your wealth is concentrated. Here's a practical guide by buyer profile: For a detailed breakdown of funding sources by buyer profile, see our full guide to Financing a second home with no money down is difficult under traditional mortgage programs, but there are several approaches that can meaningfully reduce the cash required upfront: For buyers evaluating both paths, here is a side-by-side breakdown of how financing a second home outright compares to financing a Pacaso co-ownership share: Pacaso works with partner banks to offer Whether you're financing a second home through a traditional mortgage or a co-ownership share, the purchase price is only the starting point. Budget for these ongoing costs: With a Pacaso co-ownership share, most of these costs are included in monthly home operating costs and shared pro-rata among all owners, so you're never paying the full cost of a home you only use part of the year. Homes come fully furnished with luxury designer touches, and a dedicated Home Manager coordinates all maintenance and logistics. For buyers who want a luxury second home but aren't ready to absorb 100% of the purchase price and ongoing costs, Pacaso provides a different path. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a For buyers just beginning to explore their options, the

Lake Tahoe is consistently ranked among the top second home markets in the United States,  and for good reason. The lake straddles the California-Nevada border at 6,225 feet elevation, offers 72 miles of shoreline, and draws buyers who want year-round recreation anchored by two distinct peak seasons: world-class skiing in winter and lake access in summer. For buyers weighing whether to purchase, a few fundamentals stand out: The short answer: yes, Lake Tahoe is a strong vacation home market, but buyers who do well are those who understand the specific submarket dynamics, particularly around short-term rental regulations and operating costs, before they buy. More on both below. Ready to explore your options? Start with our guide on There is no single "Lake Tahoe" — the area encompasses several distinct communities across two states, each with its own character, price range, and regulatory environment. The right location depends on how you want to use the home, whether you're focused on ski access or lakefront living, and whether short-term rental income is part of your plan. North Lake Tahoe is anchored by Tahoe City, Kings Beach, Tahoe Vista, and the surrounding unincorporated Placer County communities. The North Shore is prized for its quieter atmosphere, closer proximity to Palisades Tahoe (formerly Squaw Valley) and Alpine Meadows, and direct lake access from towns like Tahoe City, which sits where the Truckee River meets the lake. Median prices in North Lake Tahoe communities are generally in the $900K-$1.3M range for homes suitable as vacation rentals, with luxury lakefront properties commanding significantly more.For families looking for family vacation homes in Lake Tahoe, the North Shore's walkable town centers, calmer lake coves, and access to multiple ski resorts make it a natural fit. South Lake Tahoe is the largest city on the lake, straddling the California-Nevada border at the base of Heavenly Mountain Resort. It offers the most amenities of any Tahoe community, such as restaurants, shopping, casinos on the Nevada side, and direct beach access, and is typically the most affordable major submarket, with median sale prices around $575K-$715K depending on the period. South Lake Tahoe has historically attracted buyers interested in vacation rental income, though its short-term rental regulatory environment has changed significantly in recent years (covered in the next section). For buyers focused on personal use, the South Shore's combination of ski-in/ski-out access at Heavenly, lakefront parks, and walkable amenities makes it one of the most versatile locations on the lake. Incline Village sits on Nevada's North Shore, tucked against the slopes of Mt. Rose and Diamond Peak. It occupies a distinct category among Tahoe communities: luxury mountain estates with true Nevada advantages, including no state income tax. Median home prices in Incline Village remain above $1.5M, with the high-end market staying stable due to constrained supply. For buyers seeking luxury vacation homes in Lake Tahoe, Incline Village's combination of mountain privacy, Nevada tax benefits, and more permissive short-term rental rules makes it worth serious consideration. The Lake Tahoe Shakespeare Festival, mountain biking, and two private beaches exclusive to residents round out the lifestyle. Truckee sits just north of the lake in the Sierra Nevada, roughly 12 miles from North Shore. Its charming Old West downtown, access to seven ski resorts (including Palisades Tahoe), and slightly lower price points than lakefront communities have made it a favorite for buyers who prioritize ski access over direct lake views. Olympic Valley, home to Palisades Tahoe base, is within 30 minutes of Truckee and is widely regarded as one of the best ski destinations in the U.S. Short-term rental (STR) regulations are among the most consequential (and most misunderstood) factors in Tahoe vacation home buying. The rules vary dramatically depending on which jurisdiction your home falls in, and they have changed significantly in recent years. Buying without understanding the STR landscape in your target area is one of the most common and costly mistakes Tahoe buyers make. South Lake Tahoe's STR history is the most turbulent around the lake. The city declined to appeal and passed a new STR ordinance in June 2025, which took effect July 17, 2025, capping STR permits in residential areas at 900 and issuing them on a first-priority basis to previous permittees. As of April 2026, updated amendments replaced the earlier buffer rules with the 900-permit cap system. The bottom line for South Lake Tahoe buyers: STR permitting is now legal citywide but capped, meaning permit availability is not guaranteed. Non-permitted properties in South Lake Tahoe are effectively non-starters for rental income strategies. Placer County, which covers most of North Lake Tahoe including Tahoe City, Kings Beach, and Tahoe Vista, operates under a cap of 3,900 STR permits in unincorporated eastern Placer County. As of early 2025, roughly 500 permits remained available before the cap, though that number changes. The framework is established and broad, covering multiple desirable North Shore communities, making it one of the more reliable STR markets around the lake for buyers who verify permit availability before purchasing. Incline Village operates under Washoe County jurisdiction on the Nevada side. There is no countywide permit cap and no waitlist; owners simply obtain a Washoe County business license and register for Transient Occupancy Tax (TOT) collection. The process typically takes a few weeks. This regulatory flexibility makes Incline Village significantly more accessible for buyers whose ownership plan includes rental income, compared to California-side communities. Truckee operates its own STR permitting program with a cap of 1,255 certificates. As of early 2025, that cap had already been reached, and a waitlist is in effect. Additionally, new owners face a 365-day waiting period after a home sale before they can even apply for an STR permit. STR regulations affect traditional rental investors heavily, but they have almost no impact on co-ownership buyers through Pacaso. Pacaso homes are used exclusively by owners and their guests; they are never rented out. This means Pacaso owners are entirely insulated from the permit caps, lottery systems, and regulatory uncertainty that affect traditional Tahoe vacation rentals. You can own in any of these jurisdictions and focus on enjoying your home without navigating the permit landscape. Tahoe's mountain climate and dual-season demand create an ownership cost structure that is meaningfully different from beach or desert second home markets. Understanding these costs upfront, and planning for them, is essential to getting the full picture of what ownership actually looks like. Lake Tahoe receives an average of 200-plus inches of snow per year. Snow removal is not optional; it's a safety and access requirement. Owners of standalone homes are responsible for their own driveways, walkways, roofs, and decks. Most Tahoe locals recommend setting up a seasonal snow removal contract before the first storm of the year, particularly for out-of-area owners who may not be present during early-season events. Budget for $4,000-$8,000 annually for contracted snow removal services, depending on property size, driveway length, and snow year intensity. Condo and HOA communities often include driveway plowing in monthly dues, but private decks, entry stairs, and unit-specific areas are frequently the owner's responsibility. Properties that are not continuously occupied and heated during winter require winterization to prevent frozen and burst pipes. The process involves draining water systems and adding antifreeze to traps, and typically costs $300-$600 per winterization. For remote owners who aren't present through the coldest months (December through March), proper winterization is non-negotiable. Tahoe homes face extreme temperature variations. Propane or natural gas heating for a 2,000-square-foot home can run $300-$600 per month during peak winter months. Older homes with vaulted ceilings and less efficient windows have significantly higher heating costs. Electricity typically adds another $150-$400 monthly. Semi-annual HVAC servicing runs $150-$300 per visit, with full system replacements costing $3,000-$15,000+ for larger homes. Condos, resort communities, and gated neighborhoods typically carry HOA fees of $4,800-$14,400 annually, covering shared amenities, exterior maintenance, and sometimes snow removal. Standalone homes outside HOAs don't face those dues but absorb the equivalent costs individually. Annual maintenance for vacation homes in Tahoe's harsh climate typically runs 3%-5% of property value. The The full cost of ownership adds up quickly. For buyers who want Tahoe access without absorbing 52 weeks of ownership costs for a fraction of the use, Financing a vacation home in Lake Tahoe follows the same general framework as any second home purchase, but with a few nuances worth knowing. Read our full guide to If you plan to use the property personally (rather than as a pure investment rental), you may qualify for second home mortgage rates, which are typically 0.25-0.5 percentage points higher than primary residence rates. To qualify, lenders generally require that the property be at least 50 miles from your primary home, that you're not renting it out for more than 14 days a year (if you want the favorable tax treatment), and that you intend to occupy it yourself for some portion of the year. Second home mortgages typically require a minimum 10% down payment, with 20% or more being more common in practice for Tahoe's price points. Larger down payments reduce the interest rate and improve approval odds. Our guide to If you plan to rent the property for more than 14 days a year, lenders may classify it as an investment property rather than a second home. Investment property loans typically require 20-25% down and carry higher rates. For buyers in STR-heavy markets like South Lake Tahoe who are depending on rental income to offset carrying costs, this classification is important to understand early in the financing process. For buyers purchasing a Pacaso share, For most people weighing whether to buy a vacation home in Lake Tahoe, the math on full ownership raises a question worth asking honestly: will you actually use it enough to justify the cost? According to Pacaso's own Second Home Sentiment Report, only about 25% of second home owners used their property more than four weeks per year. For a $1.5M Tahoe home carrying $80,000-$100,000 in annual costs, that's a significant expense for limited use, and that's before the management burden of coordinating snow removal, maintenance, and winterization from afar. There are three reasons co-ownership is particularly well-suited to Tahoe specifically: Explore

A second home down payment is more manageable than most buyers expect, as long as the funding source actually fits your financial picture. Most articles on the topic list ten options and leave you to figure out which one applies. This guide does the opposite: it shows you how much you actually need by loan type and price point, then walks through the smartest down payment options for four common buyer profiles. It also shows where co-ownership fits, because for many would-be buyers it solves the down payment problem before you ever fill out a mortgage application. For a conventional loan on a single-family second home, expect to put down at least 10% if your credit, debt-to-income ratio, and cash reserves are strong. In practice, most lenders push that closer to 15% to 20%, and jumbo loans on higher-priced vacation homes typically require 20% to 25% down.  The reason is risk: lenders assume that if a borrower runs into financial trouble, they will keep paying the mortgage on their primary residence before their vacation home, so they offset that risk with a larger second home down payment, a higher credit score floor, and stricter cash reserve requirements. Beyond the down payment itself, you should be ready to document two to six months of cash reserves on top of closing costs, hold a credit score of at least 640 (700+ is ideal), keep your total debt-to-income ratio at or below 43%, and confirm the home meets Fannie Mae and Freddie Mac second home occupancy rules, typically a one-unit, year-round property located at least 50 to 100 miles from your primary residence. Not every loan product is on the table when you are The percentage is only half the picture. The other half is the dollar figure you actually need at the closing table. Here is what a down payment on a vacation home looks like across common second home price points. For most buyers shopping in the $750,000 to $1.5 million range that defines today's second home market, that means $75,000 on the low end and $375,000 on the high end, before closing costs, furnishings, and reserves. The size of that check is exactly why If you’re wondering how to buy a second home with a low down payment, co-ownership rewrites the math because the second home down payment is calculated against the share you actually buy, not the full value of the home. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a fully managed luxury home through a For a deeper walk-through of how co-ownership works alongside conventional financing, see Pacaso's The right down payment options for second home purchases depend on where most of your wealth sits today. Four profiles cover the majority of real-world buyers. If your primary residence has appreciated and you have at least 30% to 40% equity, a HELOC or cash-out refinance is usually the cheapest and fastest source of down payment cash. You access the equity without selling, deduct mortgage interest where eligible, and avoid liquidating investments. Pacaso has a focused walk-through on using High earners often run into a timing problem rather than a wealth problem. The best down payment options here are a conventional loan with 10% down (accepting PMI), gift funds from family (documented per Fannie Mae guidelines), seller financing for part of the down payment, or co-ownership, which reduces the cash hurdle by an order of magnitude. If your wealth is concentrated in retirement accounts, taxable brokerage, or your existing home, asset-depletion mortgages and securities-backed lines of credit let you qualify and fund a second home down payment without selling appreciated positions or triggering big tax bills. Co-ownership is also a natural fit at this life stage, since you get the home you want without tying up retirement liquidity in a single illiquid asset. Expect to put at least 10% to 15% down, and budget for closing costs of 2% to 5% on top. If you are unsure whether to go full ownership or test the waters first, co-ownership is the lower-risk on-ramp: a deeded share, fully managed, with a clear resale path. Pacaso's Across the buyer profiles above, six funding sources do most of the work. The smartest choice is the one that fits your balance sheet, not the one with the lowest headline rate. For a side-by-side cost comparison of these paths, the Pacaso shrinks the second home down payment problem in three concrete ways.  The result is a true real estate asset, with a deeded LLC interest, in a luxury market you might otherwise be priced out of. To see what is available in your preferred destination,

For Nina and Kristian Giordano, owning a beach home in Years ago, during the pandemic, they were staying in a rental near the water. One afternoon, sitting quietly on a balcony, Kristian noticed the beautiful home next door. At that moment, something clicked. Kristian recalls thinking to himself, “Somehow, some way, we’re going to make this happen.” At the time, it felt unrealistic. The home was listed for millions, far outside what they imagined was possible. Still, the idea stayed with them. It became part of their story — a shared dream they carried forward. Years later, Nina stumbled upon the same house while browsing listings. This time, the price looked different. As they researched further, they discovered Pacaso and learned about co-ownership. Suddenly, what once felt impossible felt achievable. “This was our dream house,” Nina says. “And it’s been a dream of ours forever.” A home that fits real life Living just 15 minutes away in La Mesa, Nina and Kristian didn’t want a vacation home that pulled them away from their everyday responsibilities. With four kids, school schedules, sports practices, and family routines were always part of their lives. What they wanted was balance. And with their Pacaso home, they found it. They can spend the night by the beach, wake up to ocean air, and still make it back in time for school drop-offs and afternoon practices. There’s no pressure to “make the most” of every trip, no long drives, no complicated planning. “We love staycations, and I feel like that’s what our Pacaso home feels like. But it also feels like home.” It’s a place where vacation and real life blend together naturally. Every time Nina walks through the front door, she feels it. “The first thing I do is open those doors and just kind of a relief, a sigh.” The view, the light, and the quiet immediately shift her mindset. “You feel like you’re miles away. In reality, we’re 15 minutes from home.” Watch the video to hear what else Nina and Kristian love about their San Diego beach second home. Where family always finds its way back Family has always been the foundation of Nina and Kristian’s lives. “Family is the main reason I exist,” Kristian says. With four children and now a grandchild, their Pacaso home has naturally become the place everyone gravitates toward. It’s where birthdays are celebrated, holidays unfold, and spontaneous weekends turn into cherished memories. Cousins arrive together. Kids bring friends. Aunts and uncles drop by. The house fills with voices, laughter, and shared meals. Big dinners stretch late into the evening. Barbecues turn into all-day gatherings. Beach walks become group adventures. No one feels rushed. No one feels like a guest. “It really, truly feels like home,” Nina says. What they treasure most is the quality of time they spend together. “It’s different here. Quality time with your family is what’s most important. This is creating everlasting memories.” Everyday moments that become traditions Some of the Giordanos’ favorite memories are built around simple rituals. On warm afternoons, Kristian fires up the grill, and kids run in and out of the house while music plays in the background. As evening comes, everyone gathers around the fire pit to roast marshmallows and tell stories. During the summer, nights often end on the rooftop. From there, they can see fireworks from SeaWorld San Diego lighting up the sky across the bay. “We set timers and race upstairs,” Nina says. “Watching fireworks from your own house is pretty magical.” Inside, the home offers just as much comfort. After long days filled with activity, everyone finds their own way to relax. Some curl up with a book on the balcony, while others head to their rooms. Nina often retreats to the primary bathroom for a quiet bubble bath. “After a long, busy day, everybody has a place to relax and unwind.” The home is designed for both connection and privacy — large enough to gather, yet intimate enough to feel personal. A sense of calm you can feel Their primary home is where life happens: early mornings, packed lunches, work calls, homework, and responsibilities. Their Pacaso home is where life slows. “At home, you’re in your routine,” Nina explains. “Here, you walk in and feel like you’re on vacation.” The calm here feels intentional. It’s built into the layout, the light, the view, and the atmosphere. It invites them to pause. “The sense of calm is very different than walking into a house with kids running around.” Even arrival feels effortless. They don’t worry about restocking supplies, cleaning, or repairs. Everything is prepared when they arrive. “I literally bring clothes and that’s it,” Kristian says. “You show up and you’re home.” That simplicity allows them to focus entirely on being present. Opening the door to new experiences with Pacaso Global Swap What started as a beach retreat soon became something more. Through Pacaso’s Global Swap feature, Nina and Kristian began traveling in ways they never expected. In just one year, they stayed in Pacaso homes in Paris, Jackson Hole, Lake Arrowhead, and Newport Beach. Each destination brought new perspectives, and these experiences have reshaped how they think about the future. .“It’s like owning 10 homes instead of one,” Kristian says. “Paris really opened our eyes,” he adds. “It showed us what the next 10, 20, 30 years could look like.” As Kristian steps into semi-retirement and their children become more independent, the access they get with Pacaso Global Swap has become a meaningful way for them to reconnect as a couple. “Family time. Family memories. Forever.” For the Giordanos, Pacaso isn’t just about owning a beautiful property. It’s about how that property fits seamlessly into and enriches their lives. It’s about arriving without stress, gathering everyone in one place, slowing down together, and making space for what matters. When asked to describe their experience, their answer comes easily. “Family time. Family memories. Forever.” From a dream sparked on a balcony to a home filled with generations of laughter, Nina and Kristian’s Pacaso story is about building a legacy of connection — one weekend, one trip, and one memory at a time.

Owner Alison Davis shares how Pacaso helps her family building memories near and far Austin Allison, CEO of Pacaso, sits down with Alison Davis — a Pacaso board member and owner of two beautiful vacation homes — to discuss how co-ownership has enriched her family’s life. Joined by her adult children Tallulah and Felix, Alison shares how her Pacaso homes in Tahoe and London have enabled special place for her busy family to reconnect, host friends and gather with extended loved ones. This intimate fireside chat also highlights prioritizing experiences, create lasting memories, and find meaningful moments together amidst life’s hectic pace. Key takeaways:

Lake Tahoe has always been a special place for Christianne and John. When finances made it difficult for them to continue owning there, they made the heartbreaking decision to sell their home. When the couple discovered Pacaso co-ownership, however, they realized they didn’t have to say goodbye to their dream after all. "The first time we came in and stayed at our Pacaso, I just couldn’t believe the dream had come true for us, in a way that we could’ve never imagined," said Christianne shared. Watch to see Christianne and John’s favorite things about their Tahoe home, plus Pacaso’s due diligence in the community response to co-ownership. Pacaso makes a second home possible and enjoyable for more people.

Jim and Jun wanted to own a second home in Palm Springs, a place they’ve been visiting for years. Jim hadn’t used his previous vacation homes as much as he had hoped, so co-owning made sense to him. Pacaso enabled the couple to make their budget go further and purchase a beautiful home that fits their schedule, supplies all the amenities they need, and offers them true ownership. “This is my property, and I want to take care of it,” said Jim. “We would absolutely [buy] another interest in a Pacaso. It’s a great setup, everything is taken care of for you, and it really fills a niche in the market.” Watch the video to hear what else Jim and Jun love about their Palm Springs second home.

Mike and Rita wanted nothing more than to have a place for everyone in their family to enjoy. From the moment they stepped into their new home, the two grandparents knew immediately they had made the right choice. A Pacaso in Newport Beach was everything they desired in a second home. From the amenities and location to Pacaso’s ongoing support, every detail has made it “feel like home.” Mike and Rita’s calendar is packed with upcoming celebrations, get-togethers and special occasions. “There’s going to be amazing memories made,” said Rita. “As a grandmother, that is my main job. And I think it’s going to be quite easy.” Watch the video to hear what else Mike and Rita love about their Newport Beach second home.

Will and Julia live in the Bay Area, just south of San Francisco in the communities of Redwood City and Menlo Park, respectively. They each have two teenage children, and they enjoy spending time with their combined family in the quieter, more verdant Napa Valley.  “We both have a love of Napa, and we were going up there five or six times a year,” said Will. Over time, we started talking about getting a place there — we were spending a fortune on hotels.”  Even though hotels weren’t cheap, a second home in the Working through the details Julia had some initial concerns and questions about the Will said that Pacaso’s level of service was an important factor in their purchase, giving him and Julia the confidence to move forward. “From the start to today, working with Pacaso at all levels, everyone has been fantastic. If there’s been an issue, they’ve consistently worked through it and found equitable solutions.”  The joy of shared home ownership From their first stay, Will and Julia knew they’d made the right decision. “It was a ‘pinch me’ moment,” said Julia. “I remember thinking, ‘Is this real? Did we really do this?’ And then I said, ‘We’re home!’” Since trading up hotel stays for time at their Pacaso, they can attest to the difference that ownership brings. “Having a piece of something, somewhere, that you can come to and call your own is a wonderful feeling. It’s easy to fall in love with the home and the community,” said Will. And, unlike a hotel, it’s a special gathering place for their loved ones, said Julia. “Being able to come together and make memories with family and friends is one of my favorite parts of owning our Pacaso.” Plus, said Julia, it’s always ready for them when they arrive. “It’s such a benefit being able to come in and have our home be clean and set up with everything we need, and then not having to worry about doing a bunch of cleaning before we leave.” Life at their Pacaso Whether they’re spending time at their second home with family, friends or just each other, the experience is one of ease, pleasure and joy. “We live differently when we’re there,” said Will. “We’ll walk downtown to get croissants, then come back and open up the doors to the backyard and the sun will be streaming in — it’s something else.” Julia added, “Whenever we arrive, Will always says, ‘I can feel my blood pressure drop.’ It’s such a good feeling.”  They like to walk around the neighborhood, strolling through the forest to enjoy the magnificent redwoods, or walking downtown to have dinner or pick up groceries. “The neighborhood is really friendly. Everyone says hello and good morning — it’s a nice, small-town feel.” And if they’re not up for a walk? “Sometimes we just stay at the pool all weekend to relax and rejuvenate,” said Julia. It was during one of those poolside moments that Will realized how fortunate he and Julia were to have this experience of owning a second home: “I brought a lawn chair down to the pool, put the umbrella up, and was reading an Agatha Christie book, drink in hand — it was beautifully sunny, and Julia was next to me, and I was thinking to myself, ‘If this ain’t why we’re living, I don’t know what is.’ It was just a wonderful moment.” Find your second home in California wine country Ready to enrich your life with a second home in Napa Valley? Explore

Before becoming Pacaso owners, frequent travelers Byron and Elizabeth hadn't thought much about buying a second home — at the time, they didn't own their primary residence, and they enjoyed seeing new places. While they liked exploring different towns along the Northern California coast, it took planning. "We were spending a lot of time and energy finding places to stay," said Elizabeth.  They had several friends in St. Helena, a Napa Valley town within an easy drive of their Bay Area home, and they visited the area fairly often. They had toyed with the idea of buying property there, but it didn't seem like a realistic option. "It's really hard to find properties in St. Helena, and a full-time second home wasn't in the cards," said Byron. But then an interesting opportunity presented itself: Some friends of theirs, Jay and Michael, had decided to "sell down" part of their St. Helena home to Pacaso. The home, known as the Poolhouse, was Pacaso's first property, and Byron and Elizabeth had fond memories of the times they'd spent there in the past.  Seizing the opportunity  Being able to buy a share of the Poolhouse seemed like a stroke of good fortune. "Owning a whole second home was a barrier financially, and it didn't make sense for us when we considered the maintenance and upkeep for a place where we wouldn't spend that much time," said Byron.  Co-ownership with Pacaso seemed like an ideal option — they already knew and loved the home and the area, they wouldn't have to worry about any maintenance headaches, and the ability to right-size their ownership provided the flexibility they craved. "We like to travel a lot and didn't want to have to spend all of our vacation time at a second home."  Most importantly, it was financially attainable, with the help of Pacaso's financing option. "Financing made it possible and kept costs down to a reasonable amount. It balanced out to about what we pay for the average weekend a month we spend on a short family trip, or less than what we would spend on a vacation rental." Still, it was a new model, and they needed to feel assured that it worked for their needs. " "Once we understood the transaction and how everything worked, we felt comfortable and it was really a no-brainer at that point,"said Byron. Time in their Napa home Having young children — 3-year-old twins — hasn't dampened Byron and Elizabeth's interest in travel, but it has changed their perspective on second home ownership. "We really like the feeling of ownership over a vacation rental because we get to spend time in a place where we can make memories together. The kids look forward to coming here, and they understand that it's our Napa house and they get to play in the pool and see friends who live up here," said Elizabeth.  And that sense of connection and consistency is unique to ownership, said Elizabeth. "We feel like we're part of the community even though we're part time. You don't get that familiarity and memories at a rental or a hotel. You have a nice time, but there's nothing sentimental or special."  Sometimes those memories are part of the flow of daily life, like meeting up with local friends to watch their son's Little League game at Crane Park. Other times they are moments to cherish, like celebrating the twins' birthday at their Pacaso with both sets of grandparents who they hadn't been able to see in over a year.  And best of all, creating memories doesn't come with any added stress. "Owning our Pacaso is effortless," said Elizabeth. "We don't have to do any extra planning or work, and we know the house will be the same as when we left it. It's turnkey ownership, and we just show up and enjoy ourselves — we don't have to worry about the details."

Pacaso is more than just a place to stay — it's a gathering place where your extended family can create memories made possible only in a vacation home. This is true for Derick and Karen Ball, who found Pacaso's luxury amenities, dedicated property management and exceptional financing to be the perfect fit for their needs. "The memories that we make here, with family and friends — these are experiences that you can’t buy and you can’t get at a hotel,” said Derick. "It’s quantity time, but also the quality time within it." Watch below to learn more about the Ball family and how they create extended family moments in their Pacaso home. Pacaso makes a second home possible and enjoyable for more people.

Chris and Julie previously owned a second home in South Lake Tahoe, using it for family vacations and as a rental. “We love the idea of having a home, but we didn’t need it full time. The workload that went into renting it out — there was a lot,” Chris said. “We did great with it, but it was a lot of work.” They sold the property in 2020 and started looking for a more manageable home on the north end of Lake Tahoe. During their search, they came across Pacaso’s co-ownership program. Chris and Julie were won over by Pacaso’s price, flexibility and amenities, and the true ownership experience stood out. New, comfortable and impressive The couple loved the idea of owning new construction at a price within their budget. “We figured, the new home aspect would be less wear and tear in the long term,” Julie shared. In addition, since Julie and Chris consider themselves as more “summer people,” a new home in a different area of Tahoe would provide more options for enjoyment.  But it’s not just the newness of the property — the couple is amazed by the home’s design and feel. “I think the most difficult part is having to come home to our main home,” said Julie, who’s a fan of interior design. “I love this house, and it is amazing. I think the design team did a phenomenal job.” As owners who had rented out their second home, the couple also appreciates how Pacaso takes care of the maintenance and adds special touches to make them feel at home. “The hot tub, furnishings, outdoor furniture and fire pits are all comfortable. You have everything you need that you can think of, and that makes me feel really good,” said Chris. “We’re going to impress our family and friends whenever we go there. And we’re always going to have a comfortable stay because of that.” Julie added, “It’s really nice just to be able to walk in and not have to do anything.” Julie and Chris aren’t the only ones who are impressed. On a recent stay, the couple’s daughter and dog didn’t want to leave. “That was a really good sign the Pacaso team did well,” Chris said. The perks of true ownership Simplicity and comfort aside, a massive benefit for Chris and Julie was having true ownership in their second home. “There’s a sense of pride when you own a piece of a home. One thing that resonated with me during our last experience was that we did build a lot of traditions,” Julie said. “And it felt nice to have the same place to go to and make it your own. And it is your own.” This feeling of ownership makes their new Pacaso different from other offerings on the market. “I think there’s a lot of misconception out there with it being a timeshare,” said Julie. “It’s not a timeshare — we’re owning a home with eight people. We are able to have access to Tahoe and a beautiful home that we would not be able to afford on our own.” A second home is a special place With more moments on the schedule and plans to pass the home to their daughter, the couple views their Tahoe home as more than just a second home — it’s about going to a beloved destination that holds special meaning in their family. “I think our second home is an extension of our primary home and an extension of our family,” said Chris. “We can’t say that about our current home as much as we love it, because — at some point — you transition out of your primary home. But with a second home, it’s always going to be a place we go to that matters.” Look forward to coming to Tahoe Looking for a place to make memories in Lake Tahoe? When you co-own a Pacaso, you enjoy hassle-free ownership in a beautiful property that feels like home — because it is. Check out our

For Susan and Jason, Napa Valley had long felt like a home away from home. They live less than two hours away in Burlingame, and wine is Jason’s business — in fact, he owns a wine bar, and frequent trips to Napa and Sonoma Valley are part of the job. But wine country means more than that to the family, said Susan. “Jason is in the wine industry, so Napa is important for that reason, but we also love the community and the change in pace of life it brings while we’re there, so it has a lot of sentimental value for us.” From ‘maybe someday’ to ‘let’s do it!’ They had thought about a second home in Napa, but the idea never went anywhere. “We’d been considering it for years, but the most we ever did was look online, and we always had the same conversation,” said Susan. “It seemed like a lot of upkeep and maintenance considering our busy jobs and lives. How often are we going to use it? Is it worth it? And then this home showed up online and we realized it was partial ownership and we thought that seemed ideal.” Although they hadn’t heard of Pacaso, they understood the concept. “We have friends in Tahoe who own a fractional property, so we were familiar with the idea. Jason was able to tour in person and took me along via FaceTime. We decided that night, and it wasn’t a hard decision! We loved the property and it seemed like a minimal risk for what we would get out of it.”  What they would get was space, true ownership in a home, and an opportunity to put down roots in an area they loved. “When you have a family and go on vacation, you end up cramming four people in a hotel or paying for a suite or multiple rooms each time,” said Susan. “That’s not nearly as appealing as having space for not just family, but also friends, and being able to own it and sell it — those were all the things our friends loved about their Tahoe place, which, in part, is what convinced us to move forward with Pacaso.”  A short drive, a world away Getting out of the city and having a place to relax, with minimal effort, is a dream come true, said Susan. “Being able to just pack up and be there in under two hours is wonderful. You just feel the stress melt away as you get closer to the house.”  Susan and Jason’s Pacaso is situated on an acre and a half in a neighborhood they described as almost farmlike. “It’s close to downtown but you feel like you’re in the middle of nowhere. The kids love to walk down the drive and feed the goats across the street. We live in a city, so having all this space, a pool, playing bocce ball, making s’mores — it’s great, and the kids don’t want to leave.” In addition to making friends with the neighborhood goats, the family looks forward to developing closer connections within the Comfort and ease Leisurely days spent by the pool or exploring local parks are possible in part because Susan and Jason don’t have to invest time and energy in the home itself. “The house is very thoughtfully appointed, and the fact that we don’t have to worry about the maintenance is even better,” said Jason. “From our first stay, it immediately felt very comfortable, and there was clearly a lot of thought put into the way the home was stocked from appliances to glassware and bedding. The personal touches like games are really nice too.” Susan added, “There’s a lot less screen time when we’re there because there’s so much other stuff to do, like playing family games.” The themes of home, ownership and ease have been core to Susan and Jason’s And for Jason, the consistency you can expect from a home you own offers peace of mind — especially when you don’t have to deal with the hassles yourself. “There’s a comfort level in going back to the same place — you know where everything is, you know how to work the TV and the pool and set everything up the way you want it. But we’re not responsible — it’s the actual joys of homeownership.”  Make Napa your second home destination Pacaso puts second home ownership within reach for families, with listings in some of the most desirable destinations. And our Family-Friendly Second Homes™ make it easy to just show up and relax — from cribs and high chairs, to games, pool floaties, streaming services and more, we have you (and your kids) covered. Check out our

YIMBY stands for “Yes In My Backyard.” The phrase started as a direct counter to NIMBY (“Not In My Backyard”), which describes residents who oppose new housing or development near their homes. So when people ask what YIMBY stands for, the short answer is: it’s a pro-housing identity. People who say “yes in my backyard” believe more homes should be built, closer to jobs and transit, in more shapes and sizes than the postwar single-family default. The YIMBY movement formed in the late 2000s and grew rapidly in the 2010s as housing costs in West Coast cities outpaced wages and the U.S. fell millions of homes short of what its population needed. By 2024, the National Association of Realtors and Zillow estimated a U.S. housing shortage of roughly 4 to 4.5 million homes, and that gap has shaped almost every conversation about YIMBY housing since. Today YIMBY is bigger than a slogan. It’s a coalition of homeowners, renters, labor unions, environmental groups and elected officials who believe the answer to high prices is more homes, not fewer. When people search for “what is YIMBY” or “what is the YIMBY movement”, that is the through-line: YIMBY housing advocates argue that abundant, diverse, well-located homes are better for affordability, climate and community than blocking new construction. Most local housing fights come down to NIMBY vs YIMBY. NIMBY residents tend to support housing in the abstract but oppose specific projects nearby, often citing parking, traffic, neighborhood character or property values. YIMBY residents argue that those concerns, while real, have been used to block so much housing for so long that the cumulative effect is sky-high prices, longer commutes and exclusion of renters and lower-income workers from desirable neighborhoods. A side-by-side helps make the difference concrete: In practice, most communities sit somewhere between the extremes. A NIMBY vs YIMBY conversation is usually about how much new housing, where, and at what scale. The YIMBY movement’s contribution has been to make sure the cost of saying “no” is finally part of the conversation alongside the cost of saying “yes.” Pacaso’s inaugural Y.I.M.B.Y. Report, produced in collaboration with Greater Washington, D.C., which spans parts of Virginia, Maryland and West Virginia, ranked first. More than 70 percent of its high-demand ZIPs met the YIMBY criteria. Arlington County’s missing middle ordinance now allows two- to six-unit buildings on lots once zoned exclusively for single-family homes, and Alexandria, Virginia and Montgomery County, Maryland, have followed with similar density and YIMBY affordable housing plans. Chicago made the list because its high-demand ZIPs correlated strongly with YIMBY housing growth, even though the metro’s overall demand pressure is lower than the coasts. The 2021 update to the city’s Affordable Requirements Ordinance pushed more new construction into mixed-income neighborhoods. Austin stood out for the clear demand we found across all of its ZIPs, almost half of which qualified as YIMBY. In May 2024 the Austin City Council voted to reduce minimum single-family lot sizes and legalize triplexes, townhomes and other missing middle homes citywide. Nearby San Antonio also embraced YIMBY real estate reforms in its highest-demand neighborhoods. Minneapolis became the first major U.S. city to eliminate single-family-only zoning in 2019. Two- to four-unit buildings now make up a growing share of the city’s housing stock, and the policy has been studied closely by other YIMBY organizations as a real-world test case for citywide upzoning. Columbus introduced a plan to reshape the city and allow construction of as many as 88,000 new housing units. The proposal limits car-focused sprawl and simplifies the rules for homeowners and small developers. Nearby Kansas City legalized rental ADUs in 2022, and Salt Lake City joined the YIMBY scale by recognizing that more efficient use of existing homes is part of the supply answer. In 2023, Utah passed a law requiring municipalities and counties to regulate YIMBY Los Angeles is shorthand for the network of advocates pushing California cities to permit more homes near jobs and transit. While Los Angeles itself didn’t crack the top of our YIMBY scale, the state’s package of pro-housing laws (SB 9, SB 10, AB 2097 and others) has reshaped what is possible at the parcel level statewide and changed how YIMBY real estate gets built across Southern California. The fastest-growing area of YIMBY housing policy is statewide preemption: laws that override the most restrictive local rules to make more homes legal by right. The most influential YIMBY legislation in recent years includes: A common question is whether YIMBY policy is the same as YIMBY rent control. It isn’t. Most YIMBY advocates focus on supply (more homes, faster, in more places). Rent control is a separate debate about pricing existing units. Some YIMBY organizations support targeted tenant protections; the movement’s core insight is that without more homes, no policy can keep prices in check for long. Even residents who agree the country needs more homes often have legitimate questions about how new development plays out on their block. The YIMBY movement has spent the last decade gathering data on those concerns. Here is how the most common ones look once you check the evidence. The most common pushback on new housing is parking. The data from cities that have eliminated parking minimums (Buffalo, Minneapolis, San Diego, Anchorage) shows that builders still add parking where the market wants it; they simply right-size it instead of overbuilding. Studies from UCLA’s Institute of Transportation Studies have found that requiring two off-street spaces per unit can add $50,000 or more to the cost of a single home, much of which is passed straight through to buyers. Removing those minimums lowers prices without producing the parking apocalypse opponents predict. In second home destinations, the most common concern is short-term rental impact. Pacaso is structurally different from a A Independent analyses of upzoned neighborhoods, including the University of Minnesota’s tracking of post-2019 Minneapolis data, show that adding gentle density does not depress nearby property values; it increases options for buyers and renters across price points. The YIMBY movement’s answer to neighborhood-disruption fears isn’t to dismiss them; it’s to point at the cities that have actually built more housing and ask what changed.  The YIMBY movement is a network of national, state and local YIMBY organizations rather than a single body. Some of the most active groups include: For day-to-day discussion, most YIMBY forums live online. The That structure is why Pacaso is a member of YIMBY Action and why our 2023 economic impact study found that co-ownership reduces competition for primary housing in the destinations where Pacaso operates. For buyers, Pacaso turns a luxury second home into something accessible. For neighbors, it means a home that’s actually occupied, professionally managed and not turning over every weekend like a short-term rental. For policymakers, it’s a working example that the YIMBY movement isn’t only about new apartments. It’s about making more efficient use of the homes that already exist.  To learn more, explore

The second home real estate market in 2026 is best understood in two tiers: the broader housing market, which has navigated the weight of elevated mortgage rates and affordability constraints, and the luxury second home segment, which continues to demonstrate remarkable strength. At the macro level, the U.S. housing market has been in a period of rebalancing. Median home prices reached a new all-time high of $446,000 in June 2025, with the full-year 2025 average tracking about 1.7% above 2024 levels, according to Redfin data. Active listings surged roughly 33.7% year-over-year in 2025, inventory relief not seen in recent memory, yet overall home sales remained sluggish as affordability kept buyers sidelined. Mortgage rates, while easing modestly after three Fed cuts in 2025, have remained in the mid-to-high 6% range, continuing to constrain primary market demand. The second home housing market tells a different story. Affluent buyers purchasing luxury second homes are less dependent on financing, with close to half of luxury home transactions completed in cash in recent years. This structural insulation means the second home market, especially at the luxury tier, has continued to attract serious buyers even as the primary market cools. According to Pacaso's fourth annual The latest housing market research consistently reinforces that demand for luxury second homes has held firm through rate volatility, economic uncertainty, and shifting work patterns. Pacaso's ongoing analysis of second home mortgage rate lock data, one of the most reliable indicators of second home buying activity, has tracked this resilience across multiple market cycles.  When broader second home mortgage rate lock shares fell below pre-pandemic levels in 2022, Pacaso's research showed the decline was concentrated in the median-to-lower end of the market. Luxury second homes priced above $1 million made up approximately 12% of all second home mortgage rate locks, with median prices holding relatively flat year-over-year even as rates climbed. The Agency's 2025 Red Paper further confirmed the bifurcation: the number of U.S. homes sold for $1 million or more grew 5.2% in the first half of 2024, and median prices for high-end properties climbed 14.2%. This starkly contrasted the broader market, where overall home sales fell 12.9% in the same period. Pacaso's Second Home Attitude Report, a survey of more than 1,000 current and aspiring second homeowners with household incomes of $150,000 or more, also revealed a key motivational insight: affluent consumers increasingly view real estate as a stable asset class.  Research shows that since 1980, real estate has remained more stable than typical stock market indexes during periods of economic uncertainty, which continues to drive high-net-worth buyers toward the The luxury market's steady momentum is further supported by a two-year inventory high, which is giving buyers more choice and negotiating power. Globally, the luxury real estate category is projected to grow at a 6.9% CAGR through 2035, with North America accounting for approximately 30% of market share. For affluent investors seeking leading second-home markets with strong ROI, Pacaso's annual market reports have consistently surfaced a combination of legacy destinations and emerging hotspots. Legacy second home markets with enduring appeal Cape May County, New Jersey claimed the top spot in Pacaso's 2024 Top Vacation Home Markets Report, with second homes making up more than 150% of the ratio of second to primary homes. Average vacation home prices remain above $1 million, reflecting Cape May's status as a premier East Coast coastal destination with timeless demand. Newport County, Rhode Island demonstrated extraordinary transaction momentum, recording a 64% surge in second home transactions in 2023, the largest year-over-year increase among all tracked markets. Fairfield County, Connecticut and Westchester County, New York also ranked in the top tier as metro-adjacent markets appealing to New York City buyers seeking accessible escapes. Beaufort and Charleston counties in South Carolina continue to attract affluent second-home buyers with their coastal charm and Southern appeal. Pacaso CEO, Austin Allison, has cited Hilton Head and Kiawah Island specifically as first-mover East Coast markets where co-ownership demand has been especially strong. Emerging second home markets with appreciation potential Several markets have broken out as new leaders for appreciation-focused buyers: The destination dupe trend Pacaso's market analysis has also identified a growing "destination dupe" trend among second home buyers: the search for more affordable markets that offer comparable amenities, outdoor access, and quality of life to well-known high-priced destinations.  Examples include Bald Head Island, NC (as an alternative to Kiawah Island, SC), Mt. Rose, NV (as a substitute for Lake Tahoe ski resorts), and Golden, CO (as an alternative to the higher-priced Colorado mountain towns). This trend reflects buyers getting more sophisticated about where to find top second-home markets with strong ROI. The Scottsdale second home market has emerged as one of the most closely watched luxury real estate stories in recent years. According to local market data, luxury home sales priced above $1 million surged 57.7% in early 2025 compared to the same period in 2024. Even more striking, ultra-luxury properties priced above $5 million saw a 157% increase in closed sales, a sign that Scottsdale is attracting a concentration of ultra-high-net-worth capital. A key driver is that second home buyers are keeping Scottsdale's market prices stable even as some segments of the broader Phoenix metro have softened. According to market practitioners cited by KeyCrew, out-of-state affluent buyers purchasing second homes have provided critical price support, with second home purchases rather than local primary residence demand functioning as the primary market driver. Scottsdale's appeal for second home buyers is deeply rooted in lifestyle: Premium neighborhoods commanding the most second home buyer interest include Silverleaf at DC Ranch, Troon North, and Estancia, master-planned communities with private golf clubs, spa facilities, and resort-style living. For buyers seeking a lock-and-leave lifestyle, luxury condos near Old Town Scottsdale offer sophisticated urban living with immediate access to fine dining, designer shopping, and cultural venues. Market observers expect Scottsdale second home prices to remain supported by ongoing migration of high-income households, strong stock market performance, and the sustained appeal of lifestyle-driven purchases. Explore Several structural shifts are redefining how affluent buyers think about and approach the second home real estate market today. Demand resilience through rate cycles One of the most important findings from Pacaso's housing market research is that luxury second home demand has consistently proven resistant to interest rate headwinds. Because more than half of second home buyers at the luxury tier pay entirely in cash, mortgage rate fluctuations have a far smaller impact on this segment than on primary residence purchases.  While the total share of second home mortgage rate locks fell during periods of rate increases, transaction activity and appreciation for luxury homes priced above $700,000 to $1 million remained strong, a pattern that held through the rate spikes of 2022 and 2023 and has continued since. The local and metro-adjacent destination shift As premier destinations like Malibu, Aspen, and Lake Tahoe have seen accelerated price appreciation in recent years, second home buyers have increasingly pivoted to more accessible local and metro-adjacent destinations.  Buyers are seeking locations where they can get more for their money without compromising on quality of home or nearby attractions, a shift reflected in the strong performance of markets like Coeur d'Alene, ID; Williamson County, TN; and Cape Cod, MA. Resort areas within easy driving distance of major cities, like Lake Geneva, WI (between Milwaukee and Chicago) or Westchester County, NY, have emerged as key beneficiaries of this trend. Hybrid work as a lasting demand driver Flexible and remote work arrangements have permanently expanded the appeal of second home ownership. The ability to work from anywhere has made a second home far more than a weekend escape. It has become a viable base for extended stays, a meaningful alternative to hotel and vacation rental costs, and a lifestyle asset with year-round utility. This shift has been most pronounced in markets offering both natural beauty and reliable connectivity. Lifestyle-first buying criteria Today's second home buyers are increasingly prioritizing lifestyle attributes over traditional real estate metrics. According to agent insights and market research, buyers are asking about golf course views, lake access, resort community amenities, and proximity to outdoor recreation rather than just square footage or bedroom count. Properties within master-planned communities offering clubhouses, beach clubs, on-site dining, and activities accessible by golf cart are commanding premium prices and selling faster. Sustainable luxury A growing subset of luxury second home buyers is prioritizing eco-conscious features. Solar panels, energy-efficient appliances, water-efficient systems, and smart home automation are increasingly considered standard requirements in high-end second homes. Markets with natural beauty, whether desert, mountain, or coastal settings, are seeing buyers willing to pay a premium for homes that align with an environmentally conscious lifestyle. Co-ownership as a mainstream access model Perhaps the most significant structural trend in the second home real estate market is the rapid normalization of Buyers increasingly recognize the logic of right-sizing their ownership share, purchasing what they will actually use at a fraction of the full cost and without the management burden of sole ownership. Learn more about Multiple authoritative sources provide useful context for understanding where the second home market stands and where it is heading. Redfin's 2025 Housing Market Year in Review found that overall home sales remained below pre-pandemic levels, with 30% of homes purchased entirely in cash, down slightly from 31% in 2024 but still well above pre-pandemic norms. Luxury buyers remained far more likely to pay in cash, which has given them an outsized advantage in a high-rate environment. J.P. Morgan Global Research projects U.S. house prices to stall near 0% growth in 2026, reflecting a market that has largely worked through its pandemic-era surge but faces ongoing affordability headwinds. For luxury second homes, this stabilization is more opportunity than threat. With inventory at a two-year high, buyers have more selection and negotiating power than at any point since 2020. The Dallas Fed's real-time house price model showed signs of stabilization beginning in May 2025, with the trend turning less negative even after a modest first-quarter dip. The consensus view is that any correction will be shallow rather than steep, a pause in momentum rather than a significant decline. Cotality data showed that investor activity, which overlaps significantly with second home purchases, remained strong through 2025, running well above pre-pandemic norms even as overall market activity cooled. The luxury segment has benefited from the wealth effect of strong equity market performance, boosting the net worth and purchasing confidence of high-net-worth households. Pacaso's own rate lock data continues to show that second home demand is concentrated in the top-of-market price tier, with buyers in the $700,000+ range driving the most active segments of the second home housing market. The outlook for the second home market in 2026 is cautiously optimistic. Mortgage rates are expected to ease gradually, with J.P. Morgan projecting continued improvement if the Fed continues to cut rates. Home purchase applications have been rising, and growing inventory is translating into more transactions. While the overall housing market recovery will be gradual and regionally dependent, the luxury second home segment is positioned to remain one of the most resilient categories in real estate. Key dynamics shaping the second home market in 2026: Whether you are tracking second home market trends as an investor, a first-time second home buyer, or someone who has always dreamed of a vacation home but found the full cost prohibitive, the data points in a clear direction: the top of the luxury market continues to outperform, and smart ownership structures are making that tier more accessible than ever. Pacaso is the technology-enabled marketplace that makes luxury second home co-ownership simple, transparent, and professionally managed. Instead of purchasing an entire vacation home and bearing all costs, responsibilities, and underutilization alone, Pacaso buyers purchase a hare (1/8 to 1/2) of a fully designed, furnished, and managed luxury property, giving them true real estate ownership in some of the country's most sought-after markets. Pacaso homes have appreciated in value on average, often outperforming traditional luxury homes in their local markets. With a Today, Pacaso operates in more than 40 top second home destinations across the U.S. and internationally, from Scottsdale and Palm Springs to Paris and Cabo San Lucas. Ready to explore what is available?

You keep coming back to the same streets in Paris, the same corner pub in Mayfair, the same market in Lisbon, and the thought surfaces again: what would it take to actually own a place there? Buying a second home in Europe used to mean navigating a foreign legal system, a foreign tax code, and a long list of local vendors on your own. It does not have to. This guide walks through the best places to look, what to expect as an international buyer, and how Pacaso's cross-border co-ownership in Europe gives you a real home abroad with local experts doing the heavy lifting. Europe is one of the rare places where short trips start feeling too short. A long weekend in Paris or London stretches a few days and you are already thinking about when you can come back. A second home turns that pattern into something you actually live, rather than rebook every year. Beyond the lifestyle, owning in Europe gives you a home base for the wider region. From Paris you can reach Amsterdam, Barcelona, or the Alps within a few hours. From London, the Cotswolds, Edinburgh, and Dublin are all a short hop. One home becomes a doorway to dozens of future trips with family and friends. Europe also has deep real estate markets in its most loved cities, with centuries of demand behind them. Central Paris and central London have been desirable for generations, which is part of why they remain the go-to answer for buyers searching for the best places to buy a second home in Europe. The right European city depends on how you want to spend time there: long weekends, multi-week stays, holiday seasons, or a bit of everything. A few cities Paris is the classic choice: world-class food, art, and fashion inside a city you can cross on foot. Neighborhoods like London is an English-speaking launchpad into the rest of Europe. Mayfair, Chelsea, and Knightsbridge remain anchor neighborhoods for buyers who want Georgian and Victorian townhouse living steps from parks, restaurants, and theater. It is also a natural pick if you travel on business and want a home that doubles as your European base. Lisbon, Barcelona, Florence, Milan, and Amsterdam all earn regular spots on best-of lists. Each one trades sunshine, cost, and cultural flavor differently. The common thread: pick a city you already love visiting, then decide whether you want a full-time solo purchase or a share in a home that is already set up for co-ownership. There is no single best European country to buy a second home. The honest answer is that the best country for you is the one that matches how you want to spend time, what you are comfortable managing from overseas, and which rules you are willing to work inside. A quick side-by-side helps. Pacaso is a luxury second home company that offers fully managed co-ownership of real homes in real cities. You purchase at least one 1/8 share in a property-specific LLC (or the local equivalent structure), share costs with other owners, and For international homes, Pacaso layers local expertise on top of that model. Practically, that means: You keep the lifestyle of a second home in Europe. Pacaso quietly absorbs the cross-border complexity in the background. Pacaso's European portfolio is a curated collection of homes in Pacaso's Pacaso's Pacaso's Expect local transfer taxes, notary or solicitor fees, and often a foreign-buyer premium on top of the purchase price. In France, notaire fees typically run a few percent of the price. In the United Kingdom, Utilities, property management, insurance, local taxes, and maintenance are real line items whether you own a whole home or a share. With co-ownership, each owner pays their portion, and Pacaso handles the vendors and billing. Budgets are transparent and require owner approval, so there are no surprises. Buying a second home in Europe does not automatically confer residency, and it does not require it either. You own a home, you visit it, and you follow local stay limits and tax rules. Some countries offer residency pathways tied to real estate that change over time. Your Pacaso Crewmembers can flag what is currently available so you can plan with your own tax professional. Owning abroad on your own means managing a purchase in another language, another currency, and another legal system, then maintaining a home you only visit part of the year. Pacaso was built to take that weight off. Through Pacaso's cross-border co-ownership in Europe, you share ownership of a designed, What you get: a curated home in a neighborhood you actually want to live in, If you are ready to look at specific homes, you can

They don't make headlines. They're not on Forbes lists. But according to a new This group isn't defined by fame. It's defined by asset wealth: stock portfolios, private business stakes, and real estate that have compounded quietly for 30+ years. And the way they approach second home luxury is increasingly reshaping what ownership looks like, not through flashy purchases, but through smart, values-aligned co-ownership. At Pacaso, this is our buyer. And the data has never been clearer about just how many of them there are. According to Federal Reserve data analyzed by Princeton economist Owen Zidar, there are approximately 430,000 U.S. households worth $30 million or more. Within that, roughly 74,000 households have crossed the $100 million threshold. This group has grown faster than the general population over the past few decades, and recent stock market gains suggest the numbers are even higher today. These aren't tech billionaires or celebrity executives. Many live outside major coastal cities and built wealth through car dealerships, regional businesses, and long-term investment portfolios. They are distributed, diverse, and largely overlooked by luxury brands that only targeted the ultra-famous top. The growth isn't coming from salaries. It's coming from assets. For the top 0.1% of U.S. households, nearly 72% of their wealth is held in corporate equities, mutual fund shares, and private businesses, according to the Federal Reserve. The S&P 500 has more than tripled over the past decade. Private business valuations have risen in tandem. And for Baby Boomers, who make up roughly two-thirds of $30M+ households, decades of homeownership and equity accumulation have produced a generational wealth surge that shows no signs of slowing. The WSJ describes this as "get rich quick(er)" but really it's the compounding payoff of long-term asset ownership. These households didn't win the lottery. They built something The same instincts that made the quiet rich successful in business, smart capital allocation, avoiding waste, and optimizing for return, apply directly to how they think about real estate. Traditional luxury second home ownership means paying 100% of the cost for a property you may use 4 to 6 weeks a year. It means property management headaches, carrying costs, and capital tied up in a single illiquid asset. For someone whose wealth is built on intelligent asset allocation, that math doesn't add up. The WSJ points directly to this shift: co-ownership models, specifically citing NetJets in private aviation, are seeing surging demand from the multimillionaire class even as the overall market is flat. The behavior is the same in real estate. Ownership, yes. But smart ownership. Pacaso is the NetJets of luxury real estate. We offer the same core value proposition that has made co-ownership a defining feature of how the quiet rich live: premium access, without the premium burden. With Pacaso, buyers own a real deeded share of a vacation home co-ownership property, For buyers with significant assets, the second home co-ownership benefits are clear: it is simply the smarter way to own. Brands and services targeting the "merely well-off" are facing headwinds. Demand is concentrating at the very top. Hermès, Ferrari, and Brunello Cucinelli are posting record numbers. High-end travel is booming. Shared aviation is up markedly. Second home luxury is following the same curve. The most expensive homes have seen accelerating demand since the pandemic, and that demand is coming from exactly this buyer profile: asset-wealthy, experience-driven, and looking for vacation home co-ownership solutions that match how they think. Pacaso homes are positioned squarely in this tailwind. Our portfolio spans the There's no compromise on quality. Every Pacaso home is The quiet rich aren't waiting. If you're ready to make your second home work as hard as the wealth behind it,

Market trends in global luxury real estate: 3 rising retreats For 2025, buyers are paying attention to market trends in global luxury real estate while zeroing in on places that deliver an extraordinary everyday rhythm. Carmel, Santa Barbara and Breckenridge check that box with rare settings, strong lifestyle draws and a growing selection of high-design homes available through co-ownership. Below, see why each destination is trending, how the broader market supports thoughtful acquisitions, and where Pacaso fits your plan. The luxury market shows steady momentum in 2025, with median prices for single-family luxury homes up 1.8% year-over-year and 8.0% versus 2023. Inventory has reached a two-year high, giving buyers more choice and negotiating power. Globally, the category is projected to grow at a 6.9% CAGR through 2035, with North America accounting for about 30% of market share. These market trends in global luxury real estate are fueling interest in lifestyle-led destinations like Carmel, Santa Barbara and Breckenridge. Why Carmel is trending for 2025 Carmel pairs cinematic coastline and acclaimed dining with access to Santa Barbara’s Mediterranean pace and culture Framed by ocean and mountains, Santa Barbara blends refined dining, a lively arts calendar and quick access to Breckenridge for four seasons of alpine living With How co-ownership fits these markets Pacaso co-ownership aligns with these destinations by matching high-use lifestyles with right-sized ownership. You enjoy equity in a real home that is professionally designed and furnished, plus intuitive scheduling that supports frequent stays. For a deeper overview of how it works, see Pros and cons by destination Which destination fits your lifestyle If you picture quiet coastal mornings and gallery strolls, vacation homes in Carmel deliver a refined, low-key rhythm. For terrace-to-beach living with culture in every direction, luxury homes in Santa Barbara lead the list. If your calendar is built around ski days and summer trails, Breckenridge vacation homes offer a year-round mountain base. In each, market trends in global luxury real estate favor thoughtful buyers who value setting, design and time well spent. Explore Pacaso homes in these markets Ready to see more in each destination? Browse

Beautiful American cities attract big businesses, and big businesses pay well for top talent, making metropolitan areas flush with million-dollar homes. But which cities lead the high-priced real estate pack? A 1. San Jose, CA Located in the heart of Silicon Valley, San Jose is the hotspot for 2. San Francisco, CA Just north of Silicon Valley, San Francisco has 42% of its homes valued at over $1 million. But the size of million-dollar homes in San Francisco varies widely depending on location and condition, with 700-square-foot condos in popular neighborhoods going for $1 million, and suburban homes with close to 3,000 square feet listed at the same price. The neighborhoods with the highest appreciation in San Francisco are just east of Lake Merced and bordering San Francisco State University.  3. Los Angeles, CA Are you starting to see a California trend? Los Angeles has long been known for pricey real estate, and its selection of million-dollar homes make up 19% of the market. The average size of million-dollar homes in the City of Angels is 1,720 square feet, with 92% of them built before 1999. The priciest neighborhoods include Bel Air, Brentwood, West Sunset Boulevard, and areas along the Pacific Coast Highway.  4. San Diego, CA San Diego continues the trend of expensive West Coast real estate, with 14% of the homes valued at over $1 million. Median home values in San Diego are around $665,000, with the majority of homes in the area priced between $596,000 and $894,000.  5. Seattle, WA Seattle’s 91% white-collar workforce is a contributing factor to having 11% of its homes valued at a million dollars or more. You’ll find the most expensive neighborhoods near Edgewater Park/Broadmoor, Laurelhurst, and East Roy Street at 24th Avenue East. Newer construction dominates the scene, with nearly 24% of all homes built since 2000.  6. New York, NY New York City is known for its expensive real estate, so it’s no surprise that the Big Apple made this list: 10% of homes are valued at a million dollars or more. But unlike many other urban areas in the U.S., New York’s dense population means that 95% of the city’s homes are apartments, not detached houses. One-bedroom apartments make up 39% of those units, and it’s rare to find a home with five bedrooms or more in the city.  7. Boston, MA In Boston 9% of the housing inventory is valued over $1 million. You’ll find Boston’s priciest real estate at Beacon Street near Fisher College and Boylston Street near Presidential Plaza. Boston is known for its history, and it’s not just monuments and museums — in fact, 50% of the city’s real estate was built before 1940. As a college town, Boston also has a high percentage of renters, with only 33% of homes occupied by owners. 8. Washington, D.C. Like Boston, Washington is a hotspot for American history, but with a larger inventory of newer construction homes: 34% of homes in the district were built before 1940. Million-dollar homes make up 7% of the D.C. real estate market, with Dupont Circle’s historic mansions, Georgetown and The Palisades among the city’s most expensive neighborhoods. Typical home values range from about $236,000 to $1.2 million, with no single price bracket cornering the D.C. market.  9. Miami, FL With glamorous mansions lining its waterways, million-dollar homes are part of Miami’s scenery, making up nearly 5% of the city’s homes. Miami also has some of the newest homes, with 27% of its housing constructed after 2000. Up-and-coming Miami neighborhoods include Buena Vista, City Center and Biscayne Boulevard at Miami Dade College.  10. Denver, CO The Rocky Mountain gem of Denver rounds out the list with 4% of its market consisting of million-dollar homes. Home values are pretty evenly distributed between $122,000 and $914,000, with 86% of them falling in this range. The city is also divided nearly equally between owners and renters, at 49% and 51%, respectively.

Time to celebrate—Pacaso is turning five! In just five years, we’ve broken new ground in the second home market and introduced a model that is reshaping real estate. None of it would be possible without our team of innovators, thought leaders, and most importantly, our incredible owners. As we look ahead to the next chapter, we remain grateful to the community that fuels our success and inspires us to keep innovating and raising the bar. Thank you for being part of our journey. Now, let’s take a look back at the milestones that made our first five years so memorable. Here’s to the next five years of memories, meaningful connections, and innovation. The best chapters of the Pacaso story are still to come.

Luxury real estate trends: Paris & London 2025 Luxury real estate trends in Paris and London point to a year of selective growth, more choice at the top end, and faster deal timelines. For a second home, that translates to better access to prime addresses and turnkey quality in both cities. Globally, prime prices rose 2.8% year over year in Q1 2025, underscoring steady demand for high-caliber homes in world capitals. Pacaso makes ownership in these prestigious markets more attainable through fractional ownership. Instead of buying an entire property, buyers purchase a share of a luxury home in Paris or London. This approach lowers costs while preserving the benefits of equity, appreciation, and personal use, making world-class real estate more accessible to second-home buyers. Paris in 2025 market signals buyers should watch Paris rebounded decisively to start 2025. Lower mortgage rates below 3% and stable pricing have doubled the pool of active buyers and shortened timelines, especially for renovated, move-in-ready residences in prime districts. That momentum is also evident on the Left Bank, where Saint-Germain combines classic architecture with updated comforts, a profile exemplified by Beaux Arts. Set steps from galleries and the Seine, London in 2025 pricing, policy and prime demand London is set for modest 2025 gains of about 2%, supported by strong cash-buyer demand and improving choice at the top end. Across luxury segments, inventory is at a two-year high, with single-family listings up 40.4% and multifamily up 42.6% year over year. Price performance is bifurcated: the best-designed, turnkey listings still command premiums, while buyers have more room to negotiate on homes needing updates. For everyday access to Key luxury real estate trends shaping buyer choices Paris vs London lifestyle essentials for a second home Paris offers How co-ownership supports 2025 buyer behavior Today’s buyers value time and certainty. Pacaso co-ownership provides access to high-demand neighborhoods with professional management and streamlined scheduling, so you spend your time enjoying the city rather than handling home logistics. In Paris, that can look like a classic Left Bank address steps from museums, cafes and the Seine, such as What it means for your next move Here is the bottom line for 2025. Paris is accelerating, with faster transactions in top districts and a broader base of active buyers. London should post around 2% annual growth with more inventory at the high end, giving shoppers greater choice. With global prime prices trending higher and considering these luxury real estate trends, selecting a property that is truly turnkey and well-located remains the clearest path to lasting enjoyment. Ready to explore prime addresses in two world capitals? Browse Pacaso listings in

Luxury home buying in a stabilizing market Luxury home buying is entering a more balanced phase across flagship destinations, and the shift is reshaping luxury real estate market trends. In Paris, Q1 2025 transaction values rose 69% as rates dipped below 3% and buyers returned. London’s prime addresses faced sharp price adjustments and rising inventory, creating room to negotiate. Cabo posted one of its strongest quarters on record, while select U.S. resort hubs show more listings and longer decision windows. In Miami, most April sales closed below asking, another sign of cooler conditions and buyer leverage. What market stabilization means for luxury home buying Stabilization is showing up in three ways: more choice, more time and more precision on price. For luxury home buying, these shifts translate to improved selection, pacing and pricing clarity. Prime central London listings rose nearly 16% year over year, stretching time to sell and shifting power to buyers. In Miami, a larger share of sales closed below ask, signaling realistic pricing wins. In Vail, nearly 45% of active listings saw price reductions in the 2025 summer window, reinforcing the value of disciplined offers and well-priced, move‑in ready homes. Signals by destination How co-ownership performs in a cooler market With luxury real estate market trends pointing to steadier pricing and more selection, co-ownership offers a precise way to align use with value. Pacaso provides professionally managed, designer furnished homes in blue chip locations, so you enjoy the lifestyle and avoid the burden of sole ownership. In a market that rewards optionality and speed, coordinated scheduling and local care teams keep your time focused on experiences, not logistics. For Cabo days centered on golf, water and dining, In the Rockies, Next steps for buyers If you are evaluating luxury home buying across stabilized markets, start by shortlisting destinations with clear usage fit and resilient demand drivers. Browse Pacaso listings in

With summer winding down and the year’s midpoint behind us, the luxury real estate landscape looks clearer, and brighter, than it did just a few months ago. Buyers and sellers are navigating calmer waters: prices at the high end have held steady, interest in co-ownership keeps climbing, and industry trends point to more meaningful travel. Here are some key takeaways  as we head into the second half of 2025, and why the outlook for second-home owners has never felt more promising. When we launched Pacaso in 2020, many buyers still assumed “real” ownership meant holding 100% of a home, even if it was rarely used.. That mindset is changing fast. In Cost and ease of management are the main drivers behind co-ownership. Though overall home sales cooled in early 2025, the top of the market keeps defying gravity. High-end properties outperformed every other price segment in 2024 and Q1 2025, according to Realtor.com’s What’s driving demand? A combination of strong stock-market returns, limited home inventory in some markets and the appeal of tangible assets you can Global living isn’t just for digital nomads. London is a prime example. Beauchamp Estates reports U.S. citizens now account for roughly That global appetite is why Pacaso is expanding beyond North America. We’re continuing to focus on adding more Pacaso homes in Europe, bringing our seamless co-ownership model and simplified transaction process to some of the world’s most coveted vacation destinations. Whether you’re traveling or buying a home, experience is quickly becoming the true measure of luxury. This same experiential mindset is reshaping real estate: “The feeling a home delivers matters as much as the address,” observes Tammy Fahmi of Sotheby’s International Realty—a change that’s prompting buyers to pay premiums for properties aligned with their lifestyle ideals ( Luxury real estate is evolving on two parallel tracks: shared ownership is accelerating, and lifestyle-led demand is strengthening at the high end. Together, those forces create an unprecedented opportunity to enrich your life through the purchase of a second home. Pacaso takes the complexity out of second home ownership, giving you effortless access to extraordinary properties around the world. Whether you’re eyeing a Austin Allison CEO and Co-founder of Pacaso

Home to centuries of culture and a wide range of distinct neighborhoods, London offers a way of living you won't find replicated anywhere else. Whether you're searching for a permanent base, a vacation home, or a co-ownership stake in one of the world's most celebrated cities, this guide covers the best places to live in London across every part of the capital — organized by area, with insider tips drawn from London locals. Chelsea is one of the most desirable One of the best ways to explore Chelsea is by foot. Grab a coffee and wander the streets lined with colorful buildings and preserved mews. Stop into For dining, Mayfair sits at the very heart of London's luxury scene. Its Georgian townhouses, tree-lined streets, and world-class dining make it one of the most prestigious addresses in the city. Shop the high-end boutiques on Start your morning at Later, unwind at the Tucked between Buckingham Palace and the River Thames, Belgravia is one of London's most refined and exclusive neighborhoods. Its Regency-style stucco facades, private garden squares, and whisper-quiet streets give it a more intimate feel than its flashier neighbors. It's an ideal base for those who want prestige and proximity to Hyde Park and Sloane Square without the bustle of Knightsbridge or the West End. Start your morning with a stroll through Belgrave Square Garden, a manicured private garden that offers a moment of calm from the city's energy. Visit For dining, Kensington is quintessentially London — royal history, world-class museums, and elegant Victorian architecture all within walking distance of each other. Marylebone occupies a sweet spot between Regent's Park and Oxford Street, with a village-like atmosphere that feels worlds away from the bustle just outside its borders. Georgian architecture lines the streets, and Marylebone High Street delivers some of London's best independent boutiques and restaurants. The world-renowned Notting Hill's pastel-colored townhouses, lively markets, and creative energy have made it one of the most beloved neighborhoods in West London. Begin your morning at Camden is one of the best places to live in north London for those drawn to music, markets, and an energetic street scene. Famous markets including Shoreditch is one of the best places to live in east London for those who thrive in a creative, fast-paced environment. Once a working-class district, it's now a global hub for tech, fashion, and street art. Colorful murals line the walls of Brick Lane, and venues like Hackney is one of east London's most vibrant boroughs, known for its multicultural community and thriving independent scene. It has evolved from its working-class origins into a destination for young professionals, families, and creatives. Enjoy live music at London Fields is an East London neighborhood with a relaxed, community-focused energy. Once a working-class area, it now draws a mix of young professionals, artists, and families who appreciate its independent cafes, the year-round heated Clapham is one of the best places to live in south west London for young professionals and families alike. Bermondsey is one of south London's most compelling neighborhoods, transformed from an industrial leather-tanning district into a food, arts, and culture destination. Greenwich is one of the best places to live in south east London, defined by its extraordinary maritime heritage and sweeping green spaces. The Wandsworth is a multicultural south west London neighborhood with deep historical roots dating to Anglo-Saxon times. It blends urban energy with green space, from riverside walks along the Thames to Battersea Park, and it consistently ranks as one of the lowest-council-taxed boroughs in London. Its proximity to both Clapham and Chelsea gives residents easy access to two of the city's best dining and nightlife scenes. Wimbledon is famous as the home of the world's oldest tennis tournament, but it's the everyday quality of life that makes it one of the best places to live in Greater London. The neighborhood has a village-like feel centered on Wimbledon Village, with independent shops, pubs, and cafes. London is one of the most sought-after second home destinations in the world for good reason. Its culture, global connectivity, and long-term property market resilience make it an exceptional base for international owners. Here's what to know before buying. There are no legal restrictions preventing non-residents or foreign nationals from buying property in London. The UK remains one of the more accessible international property markets. That said, overseas buyers should plan for two additional costs: a 2% Stamp Duty Land Tax surcharge for non-UK residents, on top of the standard second home surcharge. For a full breakdown of the buying process, read our guide to Second home buyers in the UK face a 5% SDLT surcharge on top of standard rates, and non-resident buyers face an additional 2% on top of that. On a £1 million London property, these surcharges can add tens of thousands to the total cost. For a detailed breakdown, see our guide to For a second home, Mayfair, Chelsea, and Belgravia are the most established prime London postcodes, offering long-term capital resilience and unmatched prestige. Notting Hill and Kensington are strong alternatives for buyers who want character alongside luxury. Shoreditch and Hackney attract buyers seeking capital growth in inner east London. For a full breakdown of the most exclusive areas, see our guide to the Pacaso's model is particularly well-suited to London because it handles the complexities that can make Pacaso currently offers co-ownership homes in London's most exclusive postcodes:

Santa Barbara earns its nickname, the "American Riviera," every single day. Backed by the rugged Santa Ynez Mountains and facing the Pacific Ocean, the city enjoys roughly 300 days of sunshine annually and a mild Mediterranean climate that makes outdoor activities possible year-round. Its iconic Spanish Colonial Revival architecture — white stucco walls, red clay tile roofs, arched doorways — gives downtown a cinematic quality you won't find anywhere else on the California coast. But what truly sets Santa Barbara apart is how much it packs into a relatively compact city. Within an afternoon, you can go from hiking a mountain trail to tasting award-winning wines in the Funk Zone to watching the sun sink over the Pacific from Butterfly Beach. Whether you're planning a romantic weekend, a family trip, or a solo escape, the activities, dining, and natural beauty here more than justify the visit, or the stay. Santa Barbara's outdoor scene is one of its greatest strengths. The mountains and the ocean bracket the city on both sides, giving visitors an unusual range of activities within easy reach of downtown. Santa Barbara's beaches stretch for miles along the waterfront, and each has its own character. One quirk worth knowing: because of the curve of the California coastline, most Santa Barbara beaches actually face south rather than west, which means sunsets over the water are best viewed from specific spots. Santa Barbara County is one of California's most acclaimed wine regions, and unlike Napa or Sonoma, much of the tasting experience is right in the heart of the city. Santa Barbara's dining scene punches well above its size. The city's access to fresh Pacific seafood, Central Coast produce, and local wines gives chefs an exceptional pantry to work with, and several restaurants have earned regional and national recognition for it. Santa Barbara has a rich cultural life that often surprises first-time visitors. Its arts institutions are world-class, its architecture is worth exploring in its own right, and its performing arts calendar runs year-round. Romance is almost built into Santa Barbara's DNA: the warm light, the wine, the dramatic sunsets, the unhurried pace. Here are the experiences that consistently stand out for couples. Santa Barbara is an excellent family destination. The compact, walkable downtown, the mild weather, and the range of engaging attractions make it easy to keep children of all ages happy. Santa Barbara has a handful of experiences you won't find anywhere else that are worth seeking out on any visit. Santa Barbara's location makes it an ideal base for exploring a wider stretch of the California coast. Several excellent day trips are within easy reach. Spending a weekend in Santa Barbara is one thing. Having your own home base here that you can return to whenever you’d like is another. That's where Santa Barbara has long attracted second home buyers for its beaches, wine country access, arts scene, and near-perfect weather. The challenge has always been the price of entry: quality homes in desirable neighborhoods like the Riviera, The Mesa, and Mission Canyon command significant prices, and full sole ownership means paying for a property you may only use a fraction of the year. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a For a destination with as many things to do in Santa Barbara as this one, having your own home base changes the experience entirely. You're not rushing through a checklist; you're building a rhythm. Sunday mornings at the farmers market, afternoons on the Cabrillo Bike Path, evenings in the Funk Zone. Over time, Santa Barbara stops being a place you visit and starts being a place you belong. Browse

Maui packs an extraordinary range of landscapes into 48 miles of coastline: world-class beaches on the south and west shores, lush rainforest along the Hana Highway, ranchland and lavender farms in the upcountry, and a 10,000-foot dormant volcano at its center. First-time visitors leave with a wish list. Repeat visitors and second home owners in Hawaii get something better: a routine. Once you have been a few times, the things to do in Maui stop feeling like a checklist. They start to feel like rituals. Sunrise paddles when the currents are calm. Mango runs to the upcountry farmers market in late summer. Whale-watching from your lanai between January and March. Long, unhurried dinners at a neighborhood spot where the host remembers your last visit. That is what this guide is built for: a layered look at the island for people who plan to come back often, and for those exploring buying a second home in Hawaii so they can. Once you know Maui, Maui's coastline shifts with the seasons, so the best things to do in Maui on any given morning often depend on wind direction and swell. Repeat visitors learn to chase calm water on the leeward south and west shores, and save the dramatic north shore for watching from above. A short rotation of beaches keeps the island feeling new. Consistently ranked among the most beautiful beaches in the world, Wailea offers golden sand, gentle waves and a paved coastal walkway connecting a string of resorts. It is ideal for stand-up paddling, easy swims and sunset strolls. Free parking, restrooms and food and drinks at nearby resorts make it a low-friction option for slow mornings. South Maui in general is regularly named one of the A protected crescent on Maui's northwest tip, Kapalua Bay is one of the easiest places on the island for snorkeling. Reef fish, sea turtles and clear visibility make it a year-round favorite. The bay is small, so arrive early; afterward, walk the cliffside coastal trail for ocean views and pocket coves. South of Wailea, Makena's wide stretch of golden sand and turquoise water feels untamed compared with the resort coast. Bodysurfing can be punishing here when shore break picks up, so this is more of a beach-walking and sunset-watching destination on big-swell days. Hike over the rocky headland to Little Beach for a quieter pocket. On Maui's eastern edge near the town of Hana, Hamoa Beach is a curve of fine gray sand backed by steep, jungle-draped cliffs. James Michener famously called it the most beautiful beach in the South Pacific. Visit on a return trip when you have time to overnight in Hana and the morning to yourself. Hookipa is not for casual swimming. It is one of the world's premier windsurfing and surfing breaks, and a regular afternoon stop for green sea turtles to rest on the sand. Pull off at the lookout to watch the action from the cliff above. For more options, including secluded coves and quiet escapes, see our guide to Some of the most memorable things to do in Maui Hawaii are at their best in shoulder seasons or specific weather windows. Owning your time on the island, rather than racing the calendar of a one-week trip, is the difference between a single attempt and the perfect day. Molokini, a crescent-shaped volcanic islet about three miles off the south coast, protects a marine conservation area with hundreds of species of fish, eight kinds of coral, and frequent green sea turtle sightings. Charter boats leave early from Maalaea Harbor; calmer water before the trade winds pick up makes morning trips noticeably better. Between January and March, you can often hear humpback whales singing while you snorkel. The Road to Hana covers 50 miles, more than 600 turns and 59 one-lane bridges. First-timers spend the day racing waterfalls, fruit stands and overlooks. Repeat visitors go slower, stay overnight in Hana, and use the second day to reach Pipiwai Trail, the bamboo forest, and Oheo Gulch in Kīpahulu. Going clockwise versus counterclockwise also changes the feel of the drive completely. Humpback whales migrate to Hawaii to breed and birth calves, with peak sightings between mid-January and March. Charters out of Lahaina Harbor and Maalaea Harbor get you close, but the south and west shores also offer excellent shore-based viewing. A lanai with a wide ocean view becomes the most relaxed whale-watching seat on the island. Golf on Maui blends ocean views with serious course design. Maui's food scene goes far past the famous-name restaurants. The best things to do in Maui for repeat visitors often involve learning the rhythm of farmers markets, food trucks, plate-lunch spots and chef-driven restaurants tucked into the upcountry. Still the island's most famous restaurant, Peter Merriman is a founder of Hawaii Regional Cuisine, and his oceanfront perch at Kapalua delivers some of the best sunset dining on the island. Locally sourced fish, ranch beef, and produce from upcountry farms anchor a menu that rewards repeat visits as the seasons change. Kula and Makawao's farms grow much of what fills Maui's best menus. Make time for Kula Bistro, Hali'imaile General Store and a stop at Surfing Goat Dairy on the way up. The Saturday morning Upcountry Farmers Market in Pukalani is the closest thing to a weekly anchor for residents. Geste Shrimp Truck near Kahului Harbor, Leoda's Kitchen and Pie Shop in Olowalu, Tin Roof in Kahului, and Aloha Mixed Plate near west Maui round out a good rotating list. Plate lunches and shaved ice are fixtures of island life, especially on long beach days. For a deeper dive on dining with a view, see our guide to The right base on Maui depends on your routine. For repeat travelers and second-home owners, three west and south coast hubs offer the easiest balance of beaches, dining, golf and outdoor access. Wailea's flat coastal walkway, gentle beaches and concentration of restaurants make it the easiest base for travelers who want to wake up and walk to the water. It is also the closest hub to Big Beach, snorkeling at Ahihi-Kinau, and morning Molokini charters. West Maui delivers championship golf, classic snorkel coves and some of the island's most reliable sunsets. Kapalua sits at the northern tip with cooler trades and quieter beaches; Kaanapali to the south is closer to dining and resort amenities. If your version of Maui leans toward farms, hikes and sweater-weather mornings, the upcountry offers a different pace. It is the longest drive to the beach but the closest base to Haleakalā sunrise and the upcountry food scene. If your things to do in Maui list keeps growing, the case for owning a home on the island grows with it. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a fully managed luxury home through a property-specific LLC, giving them a true real estate asset for a fraction of the cost. You get the upside of true ownership without the operational weight of a full second home. To see how it stacks up against the alternatives, Each Pacaso home is professionally designed with luxury furnishings, a stocked kitchen and Pacaso Essentials in place when you arrive. A dedicated home management team handles maintenance, cleaning and repairs, while the Beyond Maui, Pacaso offers

For Americans approaching or entering retirement, Europe keeps rising to the top of the shortlist. The reasons are consistent: world-class healthcare systems, walkable cities built around slow living, cultural depth that takes years to absorb, and an overall pace of life that prioritizes time over productivity. Europe is also one of the few global regions where you can own a second home and use it as a genuine retirement base without giving up US citizenship or permanently relocating. Many retirees maintain a US home and spend three to six months a year in Europe, rotating between destinations or building a routine around one city they love. The challenge has historically been access. This guide focuses on destinations where Pacaso has homes and local expertise: Paris rewards long stays in ways that short visits don't reveal. The rhythm of the city, from morning markets and neighborhood cafés to afternoon walks along the Seine and evenings at a brasserie, is exactly the kind of daily life retirees describe when they imagine Europe at its best. The city has world-class opera, theater, and museums, but also the quieter pleasures of a deeply residential neighborhood like Saint-Germain-des-Prés or the 7th arrondissement. English is widely spoken in Paris, particularly in the international neighborhoods where most expat buyers purchase. The expat community is large and well-organized, with social clubs, English-language bookshops, American cultural associations, and healthcare providers experienced with international patients. Paris is also a travel hub. From Gare du Nord, London is two and a half hours by Eurostar. Amsterdam, Brussels, and the French Alps are all within a few hours by train. A home in Paris becomes a base for the entire continent. For a deeper look at Paris neighborhoods, including which arrondissements are best suited to a second home lifestyle, see our guide to the Paris has a temperate oceanic climate with four distinct seasons. Summers are warm and pleasant, typically in the mid-70s°F, with long daylight hours. Spring and autumn are the most celebrated seasons with mild temperatures, beautiful light, and fewer tourists than the summer peak. Winters are cold and grey but rarely severe, with temperatures staying mostly above freezing. Retirees who prefer to avoid the coldest months often use Paris as a spring-through-autumn base and travel south or back to the US in winter. France's healthcare system is consistently ranked among the world's best. The public system (Assurance Maladie) covers the majority of medical costs for legal residents. Long-term expats who establish residency can access it directly; those on shorter stays typically supplement with international private health insurance. Paris has numerous hospitals with English-speaking staff and a well-established network of private clinics popular with international patients. The American Hospital of Paris in Neuilly-sur-Seine is a trusted resource for American retirees specifically. Paris is one of Europe's most expensive property markets. Central arrondissements like the 6th, 7th, and 8th regularly trade above €15,000 per square meter. A well-positioned two-bedroom apartment in a desirable neighborhood can easily reach €1.5M to €3M or more. Add notaire fees (typically 7–8% on resale properties) and ongoing costs including the taxe foncière and building charges, and whole ownership in Paris requires significant capital and long-term commitment. London is the easiest European city for English-speaking retirees to settle into. There is no language barrier, the legal system is familiar, the banking infrastructure is sophisticated, and the cultural calendar (i.e. theater, museums, galleries, live music, sport) is unmatched anywhere in the world. The city's neighborhoods each have a distinct character: Mayfair and Knightsbridge offer refined, walkable luxury; Chelsea has a polished village feel with riverside access; Notting Hill brings color and independent boutiques. The NHS provides healthcare to all legal UK residents, and London has some of the world's leading specialist hospitals. For retirees who want to be close to extended family in the US or Canada, London's transatlantic air connections are exceptional; Heathrow is one of the busiest international hubs on earth. Post-Brexit, Americans and non-EU nationals visit the UK on a standard visitor visa for up to six months at a time. For those wanting longer-term residency, the UK offers several pathways, including the Innovator Founder Visa and various investment-linked routes. A qualified immigration advisor can map the right option based on individual circumstances. London's climate is mild and famously damp. Winters are grey and cool but rarely cold enough for sustained frost. Summers are warm without being hot; July averages around 73°F. The long summer evenings are a genuine pleasure, with daylight stretching past 9pm in June. Retirees who find the grey winters challenging often use London as a spring-through-autumn base, which works well given the Schengen and US travel patterns most American retirees already have. The National Health Service covers GP visits, hospital care, and specialist treatment for legal residents at no direct cost. Private healthcare is also widely available and commonly used by international buyers who want faster appointments or specialist access. London has world-class private hospitals including the Portland Hospital, the London Clinic, and numerous Harley Street practices. International private health insurance is straightforward to obtain and provides flexibility across both the NHS and private systems. Tuscany delivers the version of Italian life that most retirees imagine when they think about Europe: rolling hills lined with cypress trees, medieval hilltowns with no traffic and no noise, markets selling produce picked that morning, and a food culture that treats every meal as an event worth slowing down for. Florence sits at the center of the region, one of the world's great art cities, compact enough to navigate on foot, with international flights from Florence Airport and a high-speed rail connection to Rome and Milan. The English-speaking expat community in Tuscany is large and well-established, particularly around Florence, Chianti, and the Siena hills. American and British retirees have been buying in the region for decades, which means there is a mature support infrastructure: English-speaking lawyers, accountants familiar with US tax obligations, local doctors with international patient experience, and community networks for new arrivals. Tuscany has a classic Mediterranean climate with warm, dry summers and mild, occasionally wet winters. Summer temperatures in Florence regularly reach the low-to-mid 90s°F, which can be intense in the city. Many owners prefer the hilltown properties that catch the breeze. Spring and autumn are exceptional: comfortable temperatures, brilliant light, and the rhythm of harvest and planting that shapes the local calendar. Winter is mild by northern European standards, with temperatures rarely dropping below freezing outside of the mountains. Italy's public healthcare system (Servizio Sanitario Nazionale) is accessible to legal residents and provides broad coverage. Florence has excellent hospitals, including the Careggi University Hospital, one of Italy's largest academic medical centers. Private healthcare is widely used by expats for shorter wait times and English-speaking practitioners. International private health insurance is strongly recommended for retirees who are not yet Italian residents, and is straightforward to obtain through major international providers. Tuscany offers meaningful value compared to Paris or London. A restored farmhouse or luxury apartment in the Florentine hills can range from €500K to well over €3M depending on location, size, and condition. Purchasing as a foreign buyer involves a notaio (notary) for the legal transfer, registration taxes, and ongoing costs including IMU (property tax) and condominium fees where applicable. Managing a Tuscan property remotely, from finding trusted vendors to handling maintenance and keeping the home staffed, is the real friction point for most international buyers. Pacaso's Tuscany portfolio removes that friction. Homes in Florence and the surrounding hills are fully managed, professionally designed, and equipped with a dedicated local team. Owners purchase a share and let Pacaso handle the rest. Browse The right European destination depends on how you want to spend your time, how much management complexity you're comfortable taking on, and what climate and lifestyle you're drawn to. Here is a quick comparison across the destinations covered in this guide: The gap between wanting to retire in Europe and actually doing it is usually one of two things: cost or complexity. Whole ownership of a luxury home in Paris, London, or Tuscany requires not just significant capital upfront, but the willingness to manage a property across time zones, languages, and legal systems. Most retirees want to use a European home for two to twelve weeks at a time, not maintain one as a full-time responsibility. Pacaso was built to solve both problems. Buyers purchase a share (1/8 to 1/2) of a luxury, fully managed home held through a dedicated LLC, securing a genuine real estate asset without the full price tag. Each home has a maximum of eight owners, so there is genuine personal access and For European homes specifically, Pacaso provides: For retirees considering Europe seriously, co-ownership removes the barriers that have historically kept international second home ownership out of reach. Read the full guide to The retirement you've been imagining doesn't require buying an entire Parisian apartment or a Tuscan farmhouse outright. It requires finding the right home, in the right destination, structured the right way.

Los Cabos sits at the southern tip of the Baja California Peninsula and includes Cabo San Lucas, San José del Cabo, and the scenic stretch between them known as The Corridor. Framed by the Sea of Cortez on one side and the Pacific Ocean on the other, the region packs an enormous range of experiences into a compact, easily navigable area. Often referred to simply as "Cabo," Cabo San Lucas is the heart of the action. This is where you'll find the lively marina, iconic landmarks like El Arco, and many of the most popular things to do in Cabo. Days here are spent sailing, lounging at beach clubs, or soaking up the sun on Medano Beach, while nights come alive with restaurants, bars, and sunset cocktails overlooking the water. It's the most energetic and activity-filled area of Los Cabos, making it a favorite for first-time visitors and anyone who wants to be close to it all. For a more relaxed, culture-forward experience, San José del Cabo offers a slower pace and a deeper connection to local history and art. The cobblestone streets and charming plazas of Old Town are ideal for leisurely strolls, and a thriving gallery scene adds depth to the town's laid-back atmosphere. Boutique shopping, farm-to-table dining, and weekly Art Walks give this area a distinctly refined, authentic feel that’s perfect for those who want to experience Mexico beyond the resort bubble. Stretching between Cabo San Lucas and San José del Cabo, The Corridor is known for its sense of privacy and exclusivity. Luxury resorts, championship golf courses, and some of the region's most pristine beaches line this stretch of coastline, offering a more secluded take on Cabo living. It's the ideal base for those who want space to unwind without sacrificing access to either town. No guide to the best things to do in Cabo San Lucas would be complete without covering its beaches. The coastline is Cabo’s defining feature, and each beach has its own character. For a deeper dive, see Some of the most fun things to do in Cabo San Lucas happen on the water. With the Sea of Cortez on one side and the Pacific on the other, the region is a playground for water sports and ocean adventures of every kind. Beyond the water, Los Cabos is an adventure playground of desert terrain, canyons, and mountain trails. These are some of the most fun and unique things to do in Cabo San Lucas for those who want to explore inland. Los Cabos is one of the most popular romantic destinations in Mexico, and for good reason. A few standout romantic things to do in Cabo San Lucas for couples include: Cabo is an excellent destination for families, with activities that keep kids and adults equally engaged. Some of the best family things to do in Cabo San Lucas include: Cabo's culinary scene has grown significantly over the past decade, moving well beyond resort buffets and spring break bar food. From farm-to-table restaurants in San José del Cabo to cliff-side fine dining in Cabo San Lucas, the region now offers some of the most compelling dining in Mexico. A few standout spots: For tequila lovers, the Cabo San Lucas has one of the liveliest nightlife scenes in Mexico, concentrated along the marina and downtown area. Most venues don't get going until 10 p.m., so pace yourself if you're planning a late night. A few standouts: Cabo has more cultural depth than its resort reputation suggests, with most of it concentrated in San José del Cabo, which rewards visitors who make the effort to explore beyond the marina. Los Cabos is as good a destination for rest and renewal as it is for adventure. The combination of year-round sunshine, natural landscapes, and world-class resort infrastructure makes it one of the better wellness destinations in Mexico. With so many unforgettable things to do in Cabo San Lucas, it's no surprise that many visitors start imagining what it would feel like to return not just once, but every year, or several times a year. From mornings on the water and afternoons on the golf course to evenings watching the sun set from a private terrace, Los Cabos offers a lifestyle that's genuinely easy to fall into. For those who want to make that lifestyle a reality, Pacaso allows buyers to purchase a share (1/8 to 1/2) of a For timing your visits, see Pacaso's guide to

Few golf destinations in the world can match what Los Cabos delivers: more than 18 championship layouts concentrated at the southern tip of Baja California, where the Pacific Ocean meets the Sea of Cortez. Courses here were designed by some of the most celebrated architects in the game like Jack Nicklaus, Tiger Woods, Greg Norman, Tom Fazio, Davis Love III, Robert Trent Jones Jr., and more, and nearly every one of them offers sweeping ocean views. The region spans three distinct areas: Cabo San Lucas (the most active side, anchored by the marina and iconic El Arco), the 20-mile Tourist Corridor linking the two cities, and San José del Cabo to the northeast. Golf courses are distributed across all three zones, which means access, travel time, and the style of experience vary depending on where you're playing. The Corridor and East Cape tend to host the most exclusive private clubs; Cabo San Lucas and San José del Cabo are home to most of the public-access layouts. What sets these Cabo San Lucas golf courses apart is the combination of design pedigree, year-round sunshine, and post-round amenities. Rounds here can be paired with beachfront dining, private beach clubs, and resort spas, a package that few golf destinations offer at this scale.  It's also a region that keeps evolving: Diamante recently announced a new Tiger Woods-designed Legacy Course and an invitation-only Legacy Golf Club limited to 250 families, signaling continued investment at the top end of the market. Los Cabos has a strong lineup of public and resort-access courses, ranging from budget-friendly options to premium resort experiences. Here's an overview of each public Cabo San Lucas golf course with current access details and green fees. Designed by Robert Trent Jones Jr. and opened in 1994, Set in the rolling foothills of the Sierra de la Laguna Mountains, One of the most accessible public courses near downtown Cabo San Lucas, Designed by Greg Norman, A nine-hole Nicklaus-designed course within Several of Los Cabos' most celebrated courses are private or accessible only through membership or resort residency. These clubs form the backbone of the region's luxury real estate appeal, and understanding which courses anchor which communities is essential for golfers considering a second home in the area. El Cardonal, Tiger Woods' first solo course design, opened in 2014, has hosted the PGA Tour's World Wide Technology Championship, becoming the first Tiger Woods design to host a Tour event. The course prioritizes strategy and playability, with wide fairways, varied green shapes, and arroyos as the primary hazard. Diamante also recently announced the forthcoming El Dorado is a members-only Nicklaus Signature course positioned along a breathtaking two-mile stretch of rugged Baja coastline. Old Lighthouse Golf and Ocean Club is a premier private destination on the Pacific side of Cabo, featuring a Nicklaus-designed course with panoramic Pacific views, luxurious accommodations, fine dining, and spa services. Its proximity to Quivira makes this stretch of Colinas del Cabo one of the most golf-rich corridors in Los Cabos. Greg Norman's signature course at Once open to the public as the Cabo del Sol Ocean Course, this Jack Nicklaus Signature layout is now Green fees across Los Cabos vary significantly by course type, season, and tee-time window. Here's a practical breakdown for planning purposes based on current published rates. Peak season runs from November 1 through mid-May. Shoulder season covers May through June and mid-October through October. Low season runs July 1 through mid-October. Many courses offer 30–50% discounts during the summer low season compared to peak rates, making Cabo an attractive destination for golfers who don't mind the heat. All major public courses accept tee-time bookings online or by phone; advance booking is strongly recommended during peak season. Los Cabos enjoys warm, dry weather year-round, which means golf is genuinely playable in every month, something that distinguishes the region from most North American alternatives. That said, walking conditions vary by course and time of year. During peak season (November through April), daytime temperatures sit between 75°F and 85°F with low humidity and consistent ocean breezes. These are the most comfortable conditions for a full round, and cart-based play still dominates at most resort courses due to elevation changes and course layouts. During the summer months (July through September), temperatures can reach 95–100°F with higher humidity, playable at early morning tee times, but challenging for walking. The best time to golf in Cabo on foot is November through April, during morning rounds before temperatures peak. For more on planning your time in the region, check out Pacaso's guide to For golfers considering a second home in Los Cabos, proximity to the right course, and access to private or semi-private clubs, can be a primary factor in deciding where to buy. Here's a look at the three neighborhoods most closely associated with marquee Cabo San Lucas golf courses, along with Pacaso co-ownership homes currently available in those areas. Quivira Golf Club anchors the western Pacific side of Cabo San Lucas, surrounded by the Pueblo Bonito resort collection and a growing residential community. The course's cliffside holes and ocean views make this one of the most dramatic golf neighborhoods in the world.  Second home owners in this area enjoy some of the most direct golf access in the region, as guests staying at Pueblo Bonito properties play Quivira as part of Stay & Play packages. Pacaso's Diamante sits on a private, gated footprint along the Pacific coastline with two championship courses plus the Oasis par-3 layout, a beach club, dining, wellness, and luxury residences. With El Cardonal an established PGA Tour venue and the forthcoming Legacy Course and private club in development, Diamante represents the most ambitious residential golf community in Los Cabos. The resort's closed community model means that owning or staying within the community is the primary path to consistent course access. Puerto Los Cabos sits on a pristine coastal stretch on the eastern edge of San José del Cabo, anchored by the 27-hole Questro Golf facility and a world-class marina. The community is one of the most well-rounded in the region; proximity to golf, a marina, the historic downtown of San José del Cabo, and quieter East Cape beaches combine to offer a lifestyle that balances activity and tranquility.  Pacaso's For golfers who return to Los Cabos regularly, Second home ownership in Los Cabos also creates access dynamics that aren't available to visiting golfers. Homeowners within private communities like Diamante, Querencia, and Costa Palmas gain club access through their residency. For semi-private courses like Quivira and Puerto Los Cabos, maintaining a home base within associated resort communities often opens preferred tee-time availability and relationship-based access. The question for most golfers isn't whether Los Cabos is worth owning in, it's how to own without the overhead of whole ownership. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a Golf-focused buyers also benefit from Ready to make Los Cabos your golf base? Read our guide to

Mayfair sits in the heart of London's West End, bounded by Hyde Park to the west, Oxford Street to the north, Regent Street to the east, and Piccadilly to the south. Its name dates to the early 18th century, when an annual May Fair was held on the site, and it has been one of London's most coveted addresses ever since. Today, Mayfair is synonymous with grand Georgian architecture, Michelin-starred restaurants, high-end art galleries, world-famous tailors on Savile Row, and some of the most expensive real estate on earth. It also appears on the original Monopoly board as one of its two highest-value properties, a distinction that still holds up in real life. If you're looking for the Mayfair is the global center of the commercial art market. Cork Street and its surrounding blocks are home to dozens of private galleries representing everything from blue-chip modern masters to emerging contemporary artists. Many are free to enter, making an afternoon gallery walk one of the most rewarding (and cost-free) things to do in Mayfair. Bond Street, running parallel, is anchored by the major auction houses Sotheby's and Bonhams, which regularly hold public exhibitions ahead of major sales. Built in 1819, Tucked behind the grand hotels and corporate offices of Mayfair's main streets, Grosvenor Square is one of London's largest private garden squares, historically associated with American diplomacy (the US Embassy was here for decades). The gardens are open to the public and offer a calm, tree-lined retreat with memorials to Franklin D. Roosevelt, Dwight D. Eisenhower, and the victims of 9/11. For a smaller, more secluded green space, Mount Street Gardens, running between South Audley Street and Carlos Place, is a beautifully maintained Victorian garden that locals tend to keep to themselves. While technically in the neighboring St. James's area, Afternoon tea in Mayfair is an experience in its own right. The neighborhood is home to some of the most celebrated tea services in London. Here are the top options: Mayfair has one of the highest concentrations of Michelin-starred restaurants of any neighborhood in the world. Whether you're looking for a special occasion dinner or a relaxed lunch, the options are exceptional. Mayfair's nightlife tends toward the sophisticated rather than the loud. This is a neighborhood of private members' clubs, hotel bars, and jazz venues rather than nightclubs. That said, the options are genuinely excellent. Mayfair is one of London's most romantic neighborhoods. The combination of beautiful architecture, excellent restaurants, and a generally calm, unhurried atmosphere makes it ideal for couples. A few highlights: Yes, and it's worth visiting beyond just the obvious tourist draws. What makes Mayfair particularly rewarding is that much of the best of it isn't on the main streets. The private gardens, the mews, the gallery corridors of Cork Street, the village atmosphere of Shepherd Market: these are things that take a little time to find but reward the visitor who does. Mayfair is also genuinely walkable. From one end to the other takes about 20 minutes, and it connects naturally to Hyde Park, Green Park, and Soho, which means a day based in Mayfair can take in a wide sweep of central London without any significant travel time. For those exploring where to stay or Mayfair is among the most expensive real estate markets in the world. Full property ownership in the neighborhood typically starts at several million pounds for a flat and runs significantly higher for lateral apartments or townhouses. The average price for a luxury residence in Mayfair sits around £57.8 million, according to Fox Davidson's 2026 market analysis. For most buyers, even those with significant means, owning outright here requires a substantial capital commitment that ties up a substantial asset in a property used only part of the year. Pacaso currently has several properties in Mayfair, each Each home is fully furnished to Pacaso's luxury design standard, professionally managed by a dedicated Home Manager, and eligible for the For anyone who has visited Mayfair and wondered what it would feel like to have a genuine home base here, rather than a hotel room, co-ownership is the most practical way to make that a reality. Explore If you're also weighing up other parts of London, our guides to the

When Americans decide to Choosing the best places to live in Italy involves considering regional costs, lifestyle pace and your personal needs. Italy offers an incredible variety of lifestyles, making it easy for anyone to find a region that fits them. 1. Florence Living in the birthplace of the Renaissance puts you in the heart of architectural masterpieces, world-class museums and cobblestone streets perfect for wandering. Because the city center is highly walkable, you can easily browse local leather markets, dine at historic trattorias and cross the iconic Ponte Vecchio during your daily routine.  While the city attracts millions of visitors, it remains one of the best places to live in Italy for Americans due to its established, welcoming expat community. That means you will find many locals who can speak English sufficiently, as well as expats from English-speaking countries. For families planning 2. Milan Milan is a sleek, modern city where business, design and culinary flavors make it one of the best places to live in Italy for expats. The daily routine here involves navigating public transit networks, attending world-class design events and enjoying a nightlife famous for its stylish aperitivo culture. While it moves fast like a Northern European capital, you are still only a short drive away from tranquil lakes and mountain resorts. You can also enjoy opera at Teatro alla Scala, explore contemporary art at Fondazione Prada and shop on the prestigious Via Monte Napoleone. There are many beautiful properties in Milan, with many high-end fashion boutiques and historic cafes to explore. 3. Rome Rome is a great city for those who want to move to another country because it has all the big city essentials that make settling in easier. The daily rhythm involves grabbing morning espresso at a local bar, strolling through stone-paved plazas and enjoying long, unhurried dinners that stretch late into the night. There are many things to do in Rome, like exploring the quiet, ivy-draped streets of Trastevere, the morning markets at Campo de' Fiori and watching the sunset over the ancient ruins from Aventine Hill. While the city center hums with energy, you can easily escape to quiet hilltop towns or nearby coastal beaches for a weekend retreat.  The most prestigious neighborhoods in Rome are the Aventino district and the elegant residential streets of Prati. Settling in these areas places you right next to historic architecture, excellent local trattorias and quiet parks. 4. Amalfi Coast The Amalfi Coast is a good choice for people seeking a scenic maritime routine with a backdrop of lemon groves and colorful cliffside villages. The daily routine centers around the historic ferry system, which serves as a scenic commute between seaside villages, grand waterfront gardens and centuries-old stone piazzas. While summer brings an energetic influx of global travelers, the winter months transform the coastline into a peaceful place. There are many things to do here, like chartering traditional wooden boats to explore hidden sea grottoes, hiking the breathtaking Path of the Gods trail and sipping local limoncello at sunset in a cliffside piazza. There are beautiful neighborhoods to live in, like Positano and the tranquil hills of Ravello. Settling in these coastal spots surrounds you with historic churches, cliff-clinging gardens and unparalleled views of the Gulf of Salerno, offering a true picture-postcard retreat. 5. Lake Como Living in Italy's northern lake district is a good match for those seeking peace and natural beauty. The region is famous for its crystal-clear waters, historic stone villages and dramatic mountain backdrops. Daily life moves at a calm, deliberate pace, revolving around morning lakeside walks, fresh lake fish dinners and scenic ferry rides between historic ports. Winters here are quiet and peaceful, while summers bring a busy energy as the lakeside villages enjoy the warmer weather. For a change of pace, the hiking trails in the Grigna range provide quick escapes, and the Swiss border is just a short drive away. A few standout areas offer the perfect vantage point of the lake, such as the sun-drenched hills of Bellagio or the historic, residential streets of Menaggio. Finding a home in these lakeside enclaves puts private boat slips, historic botanical gardens and hidden lakeside cafes almost at your doorstep. 6. Bologna Bologna is the ultimate destination for food lovers because its entire culture revolves around rich culinary traditions. Residents can spend their time exploring the medieval alleys of the Quadrilatero, tasting fresh tortellini at family-run pasta shops or relaxing in the busy Piazza Maggiore.  When you want to explore further, the high-speed rail system sits right at the edge of town to connect you to Florence or Rome in under two hours. The city center is wrapped in 25 miles of beautiful brick porticoes, which you can use to walk to local cafes completely sheltered from the weather.  There are many beautiful neighborhoods in Bologna, like the quiet streets around the Giardini Margherita park. Settling in this southern quarter puts you right by the city's largest green space, with peaceful walking trails, lakeside cafes and historic stone gates just steps from your front door. 7. Sicily Sicily is an idyllic island escape and one of the best places to retire in Italy because you are living in one of the blue zones, where people tend to live happier and healthier lives. The massive Mediterranean island operates on its own time, where afternoons are strictly reserved for rest and shops close down so families can eat lunch together.  Residents spend their mornings shopping for fresh blood oranges and seafood at ancient open-air street markets, spending warm afternoons at the beach and enjoying late-night gelato in the town square. Traveling around the island is easiest with a car, as regional train routes are slower and built for taking in the scenic countryside vistas. There are many iconic neighborhoods to live in, like the historic island district of Ortigia in Syracuse. Making this coastal sanctuary your home base places you among ancient limestone buildings, putting traditional seaside cafes, hidden swimming platforms and historic fortress walls right at your doorstep. How do you decide where to live in Italy? When choosing where to live or retire in Italy, your ideal location should reflect your budget, language skills and real estate goals, while considering the realities of different regions.  Evaluating these core factors can help you pinpoint the exact location that fits your vision:  Embrace the Italian lifestyle with Pacaso Living in Italy part-time is much more attainable than most people think. Spending a single season or a few months a year in your favorite region is completely within reach when you bypass the traditional real estate headaches. Explore our current

With year-round sunshine, beautiful beaches, and endless attractions for every traveler’s interest, there’s a lot to love about Florida. And while Florida has plenty of full-time residents, it leads the country in second homes. According to the This guide covers the top destinations, what to expect in terms of costs and financing, and how to make the buying process as smooth as possible, whether you're 1. 30A Also called the Emerald Coast, The area is popular among second home owners in search of beautiful white-sand beaches, impossibly blue-green waters and a slower pace of life. Its Florida Panhandle location makes this area a convenient vacation home location for homeowners throughout the South. 2. Delray Beach Located between West Palm Beach and Boca Raton, Delray Beach has an eclectic restaurant scene, a walkable downtown and an incredible range of live music venues. Atlantic Avenue, known by locals as “The Ave,” is bursting with local boutiques, galleries, spas, breweries and more. 3. Fort Lauderdale Fort Lauderdale is the perfect second home destination for those who believe that the best days are those with plenty of fun in the sun. Located 30 minutes north of Miami, 4. Marco Island Spend your vacation days surrounded by the beauty of the Florida Everglades. A barrier island located off the southwest coast of Florida near Naples, During sun-soaked days, explore the Ten Thousand Islands Wildlife Refuge by kayak, take a sportfishing excursion in the Gulf of Mexico, go bird watching at 5. Miami Cosmopolitan, multicultural and action-packed, Miami is a one-of-a-kind vacation destination. Second home owners in South Florida’s biggest city have a world of opportunities at their fingertips.  6. The Florida Keys Nowhere in the world is quite like Because the archipelago spans 125 miles, there’s an island town to fit every buyer. Key Largo is prized for its convenience, as it’s just an hour from Miami. Watersports enthusiasts and anglers may choose the Middle Keys for its incredible sportfishing and colorful offshore reefs. For a truly remote getaway, consider buying in Key West, the southernmost point in the United States.  7. West Palm Beach Like many parts of Florida, Golf at more than 20 courses within the city limits and some 75 more within 20 miles. Sink your toes into the sand at local beaches, including Lake Worth, Juno Beach and Ocean Reef Park. And on that rare rainy day, find shelter at the Buying a vacation home in Florida also comes with its own share of pros and cons. Before you take the next step towards owning your dream home, here are some pros and cons to consider. Pros of owning a vacation home in Florida Florida's combination of year-round sunshine, no state income tax, strong rental demand and long-term appreciation potential makes it one of the most compelling states for second home ownership. Cons of owning a vacation home in Florida Florida's high insurance costs, hurricane risk and ongoing ownership expenses are important factors to weigh before committing to a purchase. How do I buy a vacation home in Florida?  Buying a vacation home in Florida follows many of the same steps as purchasing a primary residence, but with a few key differences. Here's what the process typically looks like. Keep in mind that lenders typically require a 10–25% down payment for second homes, compared to as little as 3% for a primary residence. With Pacaso's professionally managed Own a vacation home in Florida with Pacaso Florida's combination of year-round sunshine, world-class beaches and strong second home demand makes it one of the most sought-after destinations for vacation home ownership. But between navigating financing, managing insurance costs and handling ongoing maintenance, buying and owning a second home on your own is no small undertaking. Pacaso simplifies the entire process. With professionally managed LLC co-ownership, you own a real share of a luxury second home without the hassle of managing it yourself. Each Pacaso home comes fully furnished and professionally decorated, with a dedicated local home manager handling the day-to-day so you can simply arrive and enjoy. Pacaso has luxury vacation homes available across Florida's most desirable destinations, including

With warm weather, ocean breezes and an impossibly beautiful coastline, it’s hard to go wrong with a trip to Cabo San Lucas. But with sunshine seemingly year-round, determining the best time to visit Cabo depends on what kind of experience you crave. Here’s our breakdown of the best time to travel to Cabo based on the seasons, costs, avoiding tourists and more.  What are the best months to visit Cabo? While Cabo enjoys a warm, tropical climate year-round, certain months offer more ideal weather conditions. Here’s the best time to visit Cabo San Lucas based on weather preferences:  Cabo in December through April  This period is considered the peak season in Cabo due to consistently dry, sunny weather and comfortable temperatures. The ocean is typically calm, making it great for swimming, snorkeling and diving. While you may encounter larger crowds and higher prices during this time, the stunning weather and vibrant atmosphere make it well worth it. For those looking for a unique experience, Cabo in May and June  May and June mark the transition from the dry season to the rainy season. While temperatures remain warm, humidity starts to rise. This period offers a more relaxed atmosphere with fewer crowds and lower prices. It's a great time to experience local culture, indulge in outdoor activities and enjoy the lush greenery. Cabo in July through September July, August and September are the hottest and most humid months in Cabo. While the region technically enters its "rainy season" during this window, Cabo's desert climate means rain is still rare. The area averages only about three rainy days per month at peak, and showers are typically brief.  While hurricanes are rare, tropical storms can bring heavy rainfall and strong winds. That said, the off-peak season also offers a more tranquil experience with fewer crowds. Cabo in October and November  October and November are shoulder months in Cabo, with a mix of good weather and great deals. While the weather can be hot and humid, the ocean remains calm, and the crowds are significantly smaller compared to the peak season. This period is ideal if you want a balance between affordability and pleasant weather. What does Cabo weather look like month by month? Planning around Cabo’s weather is easier with the full picture. The driest stretch runs from November through May, while August and September see the most rain days on average.  What is the best time to avoid tourists in Cabo? If you want to escape the crowds, the best time to go to Cabo is during the shoulder seasons. While you may encounter some crowds, especially during weekends and holidays, the overall atmosphere is significantly more relaxed than in the peak season. What are some key events in Cabo to plan around? Cabo hosts a variety of exciting events packed with Make Cabo your second home with Pacaso Once you know Cabo's seasons, the next step is making sure you can actually take advantage of them. A Pacaso vacation home in Los Cabos means you have a luxury second home here year-round, with no peak-season rates and no rental booking to manage. Just a home that's yours, professionally managed and ready when you are. 

For many real estate agents, Pacaso sparks interest — and just as many questions. To explore those questions, we spoke with top-producing realtor, real estate investor, and author, Eugene Kamenskiy, who has built a dedicated platform educating buyers and agents on the Pacaso model.  Drawing from his personal journey, professional credentials, and years of hands-on experience, he shares why Pacaso resonated with him and effective marketing strategies for real estate agents to thoughtfully and successfully position it in today’s luxury real estate landscape. This conversation is designed for real estate agents: practical, candid, and rooted in real-world application rather than sales theory. Q1: How did you first get introduced to Pacaso, and what was your initial impression? My journey to Pacaso began from a very personal place — a dream that started in the middle of a cold Canadian winter. During the harsh winter of 2021, amid COVID-19 lockdowns and ice storms in Toronto, I found myself dreaming of an escape to warmer climates: the Florida sun, the sound of the ocean, and the idea of finally owning a vacation home. It was a dream I’d held for nearly 20 years, ever since a conversation with a former boss who owned a modest Florida property. When I finally began researching seriously, reality hit quickly. The beachfront home I envisioned was priced around $4 million — far beyond my $500,000 budget. Even with financing, the ongoing carrying costs, maintenance responsibilities, and the fact that I’d only use the home four to six weeks a year made traditional ownership financially impractical. That dream felt out of reach — until I discovered the concept of co-ownership. That’s when I found Pacaso. When I first came across Pacaso, it was a pivotal moment. My initial impression? I was blown away. Here was a Silicon Valley–backed company that had cracked the code for affordable luxury living. Pacaso wasn’t just offering co-ownership — it was delivering a In my book, I describe Pacaso as a “paradigm-shifting solution” because it turned what once felt like fantasy into something real and attainable. My takeaway was simple: Pacaso built the model that made the impossible finally possible. Q2: What made you confident in recommending Pacaso and promoting it in general? At first, I was impressed by how the Pacaso model opened doors for people who once believed owning a luxury vacation home was impossible. Emotionally, it felt revolutionary — a concept that could truly redefine the entire second-home industry and create new opportunities for countless dreamers. But what ultimately gave me confidence wasn’t just the idea — it was the people and the proof behind it. Leadership & track record What gave me instant trust in Pacaso was the leadership behind it. Spencer Rascoff (former Zillow CEO) and Austin Allison (founder of Dotloop) aren’t just successful tech entrepreneurs — they’re true real estate visionaries who understand both innovation and property ownership. Their advisory board includes some of the most respected names in the industry, and with $1.5 billion in funding and backing from top-tier investors, Pacaso’s credibility felt undeniable. These are people who clearly know what they’re doing – equipped with the experience, data, and resources to evaluate markets and validate concepts at the highest level. I remember thinking, A proven model Results speak louder than words. Pacaso now has over 2,000 satisfied owners, 90,000 nights booked, a $1B real estate portfolio, and operations in 40 global destinations. Real estate asset As a real estate investor, I immediately recognized the strength of Pacaso’s model. Resilience by design From an investor’s perspective, the Pacaso model appeared remarkably resilient across different market cycles — that was my logical conclusion. When markets are strong, share values naturally rise with the tide, reflecting appreciation in the underlying real estate. But when interest rates climb and affordability declines, co-ownership becomes not just an attractive alternative — it might become the only accessible path for many buyers to step into luxury ownership, fueling demand and, in turn, supporting share values. Pacaso’s structure adapts to both climates, making it, in my view, a smart and sustainable model in any market. Personal alignment As a licensed realtor, mortgage agent, and real estate investor with a multimillion-dollar portfolio — and someone who has always valued innovation that delivers real, lasting results — I saw in Pacaso a model that passed every test: financial, operational, and philosophical. It represents exactly what I believe in: smart, efficient investing, true hard-asset ownership, and the freedom to live your dream today, not someday. Q3: What do you wish more real estate agents understood about Pacaso? I have a chapter in my book: This is not just another home; it’s a lifestyle transformation that opens doors to experiences previously out of reach. Pacaso doesn’t compete with traditional ownership — it expands the market, creating homeowners out of people who might otherwise rent, stay in hotels, or never own a vacation property at all. Agents who promote Pacaso are not only salespeople but also educators and advisors, helping clients realize dreams they once thought impossible. I also wish agents recognized the power of leverage within the Pacaso model. With the ease and flexibility of  Finally, agents should understand that Pacaso solves real problems, such as affordability barriers, management headaches, and underutilization. It’s a legitimate, modern solution for sophisticated buyers seeking maximum return and enjoyment. From my own marketing experience, I’ve learned one important lesson: if you promote only “savings” or “affordability,” you attract the wrong audience. The real message is value, access, and lifestyle transformation — that’s where Pacaso truly shines. Q4: How does Pacaso enhance the second-home ownership experience? In my book, Pacaso transforms second-home ownership from a burden into pure joy — it eliminates every pain point traditionally tied to owning a vacation property and replaces them with simplicity, flexibility, and freedom. Eliminates the “second job” problem Traditional vacation homeownership often feels like work, from coordinating maintenance and paying bills to arranging cleaners and worrying about an empty property. You finally arrive for a short vacation and end up busy fixing things instead of relaxing. Pacaso changes everything. They handle design, furnishing, cleaning, repairs, utilities, taxes, insurance, and reserve funds. You simply arrive, unpack, and start living your dream. Adds true flexibility With Upgrades the Asset Instead of owning a modest $500,000 property, my clients can now own a share of a $2M – $3.5M luxury home with resort-level amenities, the difference between a basic condo miles from the beach and a luxury waterfront estate just steps from the sand. Freedom from debt and stress In my book and No debt, no carrying costs (with smart strategy) Using strategies I outline in my book, Pacaso owners can invest their remaining (saved) capital in cash-flowing assets that cover their monthly Pacaso ownership fees. That means they enjoy their dream home without debt and without out-of-pocket carrying costs. Pacaso doesn’t just enhance second-home ownership — it completely redefines it. It’s not about owning a property; it’s about owning your freedom, your time, and your dream. Q5: What feedback have you received from clients? Many clients who discovered Pacaso through While my book The book itself has generated strong interest. My reader survey shows that people become more interested in co-ownership after reading it. Q6: If you had to describe Pacaso to another real estate agent in just a few words, what would you say? "Pacaso is where Silicon Valley innovation meets luxury real estate — making dream homes accessible through smart co-ownership, backed by proven leadership, and wrapped in hassle-free, turnkey management." "Unlock the luxury market for your clients. Pacaso turns $2M second homes into accessible $400K opportunities — with you earning on every share sold." About the agent This Q&A features Eugene Kamenskiy, a top-producing realtor and Pacaso expert behind Your opportunity with Pacaso Pacaso isn’t just a new ownership model — it’s a new opportunity for agents. For real estate agents willing to understand the structure, educate thoughtfully, and position Pacaso as a value-driven lifestyle solution rather than a discount play, the upside is meaningful. Pacaso enables agents to serve buyers who may have otherwise stayed on the sidelines — and to do so with credibility, confidence, and scale. If you have additional questions,

There are far better vacation options, including: Let’s explore each alternative and explain how it differs from the typical reasons not to 1. Second home co-ownership  Second home co-ownership is when a property is jointly owned by multiple people. Buying a vacation home is a greater upfront expense than a timeshare, but you don’t have to be the sole owner. With this timeshare and Whether you’re buying with a group of friends or buying a Pacaso second home, you still have true real estate property ownership. You’re not just buying the right to use a hotel or condo-sized space for a set period. Timeshares are notoriously difficult to sell due to the many rules and limitations owners must abide by. The timeshare is also one of many identical units, creating an imbalance between supply and demand. On the other hand, unique homes attract buyers who must compete against each other in the whole housing market.   Browse a plethora of luxury co-ownership options all over the world with Pacaso’s 2. Vacation rentals Vacation rentals are furnished spaces that are rented out on a short-term basis. Airbnb is as popular as ever, with 265 million users and over 7.7 million listings, according to Lighthouse. People choose vacation rentals because renting a property from a private owner is often cheaper than comparable hotel rooms, and they often give travelers added perks like kitchens and convenient locations. However, vacation rentals can come with charges like cleaning fees, sometimes making them even more expensive than hotels.  Vacation rentals are considered preferable alternatives to timeshares because they give greater flexibility in where and when you can vacation. You’re only paying for specific days, so you aren’t on the hook for yearly fees on top of the purchase price of a timeshare.   Timeshare owners often sell their timeshare days when they can’t use them, giving vacationers the option to visit the same timeshare facility without the long-term commitment.  3. Hotels Although Hotels often provide discounts to certain groups (like the military and AAA) or offer discounted rates throughout the year, making them even more affordable. Some hotel chains offer rewards programs, so the more you stay there, the more you get back. 4. Hostels  A hostel is a budget-friendly alternative to hotels with dormitory-style rooms and communal areas. They’re ideal for backpackers and young travelers seeking a social vacation where they might meet people from all walks of life.  Hostels are typically sparse in accommodations compared to timeshares, but the trade-off is worth it for people who enjoy different locations every year. You can find various types of hostels on apps and sites like Booking.com. In a budget hostel, you may stay in a room with six or more people. A boutique or luxury hostel may offer more upscale vibes and cleaner amenities, while party hostels host social activities and late active hours.  5. Resorts Resorts offer an all-inclusive appeal of many of the best timeshares, such as private beach access, live entertainment, gourmet food and guided tours. You’ll spend less time planning all the details of your vacation, leading to less stress and more time enjoying your break.  Just like hotels, resorts give you the flexibility to stay for longer or shorter durations than a timeshare. You won’t be boxed into traveling at predetermined times of year, and you can visit whenever you want. One example of a famous luxury resort is the Four Seasons Resort Hualalai in Hawaii, which boasts many amenities like spas, pools, beach access, multiple restaurants and exceptional customer service. 6. Travel clubs Travel clubs offer group travel rates to various destinations. Travel clubs operate similarly to timeshares and vacation clubs, while being slightly more affordable. Travel clubs require yearly membership fees, and some clubs also charge maintenance fees. These combined costs are often lower than those of vacation clubs. The benefit of travel clubs is that they arrange for group rates, making your stay cheaper while giving you the benefit of travel companions. Oftentimes, the club is centered around a shared trait, like a hobby or age group.  Aside from the social aspect of travel groups, travel clubs also free you from long-term commitments. Even the cost of an inexpensive timeshare begins to add up over the years if you aren’t able to sell it. Since membership in a travel club is yearly, you’ll only lose what you’ve already spent.  7. Vacation home ownership One big draw of owning a timeshare is the dependability of returning to the same destination year after year while avoiding the rising costs of accommodations. Buying a second home in a vacation destination gives you those same benefits and more.  Unlike a timeshare, buying a vacation home gives you real equity in the property, so you have the potential to recoup the money you put into it over the years. Timeshares rarely appreciate in value, and due to the many When you have your own vacation home, you have the freedom to use it as much as you want. In contrast, most timeshare options only allow you to use them once per year and have fixed scheduling limitations.  8. Vacation clubs Vacation clubs are travel services that offer members access to different vacation locations and amenities within their network of affiliated properties. For example, a Holiday Inn Club membership works by purchasing credits. However, many clubs have blackout dates that restrict your ability to travel unless you pay more money. Depending on the club you join, it could cost more per year than even luxury timeshares, but you’ll have easier access to multiple destinations. 9. Fractional ownership Fractional ownership is a collaborative investment where multiple parties share ownership of a vacation property. Each investor maintains specific ownership rights and entitlements to the asset based on their contribution. Fractional ownership is similar to vacation home co-ownership in that you can schedule specific usage times and/or access to different parts of the property.  Splitting the costs of a vacation home comes with benefits like owning a home in a luxury location that you might not otherwise be able to afford. You also share upkeep and maintenance costs. However, it also means all major decisions must go through all ownership partners. You’re also splitting benefits, leading to potential disagreements between owners. How to resell your timeshare?  As you browse timeshare exit vacation alternatives, you may wonder how to best get out of a timeshare. Though it can be difficult, there are a few ways to resell your timeshare. Here are some options: Consider second home co-ownership These timeshare alternatives may help you avoid a major scam and stick to your original goal of enjoying a beautiful vacation with your loved ones.  Unlike a timeshare,

Pacaso is a team of real estate and tech veterans with a mission: Enrich lives by making second home ownership possible and enjoyable for more people.  We offer buyers a smarter way to approach owning a second home: professionally managed Buying and owning a second home through Pacaso dramatically reduces costs and lessens management and scheduling hassles. This lets buyers who are sitting on the sidelines have the chance to become true property owners of a home that previously was beyond their price range.  And it opens up opportunities for real estate agents to have new conversations with buyers and sellers. They can access the second home of their dreams in one of their favorite locations for less money than if they purchased a whole home.   Co-owning real estate is not a new concept. But doing it on your own with friends or family often creates hassle and strain on personal relationships. Many DIY owners find it daunting to communicate effectively about scheduling, maintenance and managing the home.  Pacaso eliminates those issues, making co-ownership easy for the first time by creating a professionally managed, property-specific LLC design especially for co-ownership. A limited liability company (LLC) ensures that the owners are not personally liable for the company’s debts or liabilities. It combines some elements of a partnership, sole proprietorship and a corporation. For buyers, co-ownership increases their purchasing power. It also reduces the stress and pressure of whole home ownership. Gone is the feeling of guilt from leaving a home empty much of the year. Gone is the hassle of vacation rental platforms, the anxiety of knowing that dozens (or hundreds) of strangers are traveling in and out of your home, and the tedium of dealing with repairs.  The benefits for buyers, sellers, owners Buyers can shop from Pacaso’s curated listings. Alternatively, if they find an active listing they’d love to co-own, they can submit the listing to Pacaso; if it meets our specifications, we’ll partner with the buyer to purchase and close on the home, as well as identify vetted co-owners. Each home is co-owned by a maximum of eight owners who use it with only family and friends; no outside rentals are allowed. Owners schedule time in the home with our innovative and equitable SmartStay system on the owner app. And instead of worrying about maintenance, Pacaso's professionally managed LLC will take care of all property management needs. Sellers have two options to work with Pacaso. First, they can decide to sell their whole home to us. Pacaso is a qualified buyer, and we pay premium prices for turnkey homes in the right locations.  Alternatively, current second home owners can decide to keep as much as half of the ownership in their home while unlocking their equity by selling the other portion through Pacaso’ selldown program. This allows owners to keep the home they love while tapping into its liquidity and continuing to enjoy access to their second home. Why partner with Pacaso today? The Pacaso crew, led by former executives from Zillow, has more than 100 years of combined expertise using big ideas and innovative technology to create great real estate experiences. The company’s founders believe second homeownership enhances people’s lives because it has enhanced theirs. And it’s the driving force for the company.  This co-ownership model is a chance for you to bring a modern way of owning as well as fresh inventory to your customers.  Be part of the next wave of innovation, re-inventing how second homes are bought, sold and owned — and creating new business opportunities for you.  -------- Quiz 1. What type of second home ownership does Pacaso offer? A. Whole ownership of a second home B. Time share ownership D. None of the above 2. True or false: Co-ownership is not new, but Pacaso is solving the major pain points associated with the DIY approach. B. False 3. The advantages of Pacaso co-ownership for buyers include: A. They can now afford to own a home previously out of reach financially. They can bring a listing, from Pacaso or any website, that they are excited about to Pacaso. If it’s a fit, Pacaso will buy the home and bring together co-owners. B. They get true real estate property ownership of a fully managed single-family home with fewer hassles and headaches.  4. The advantages of working with Pacaso for sellers include: A. Pacaso pays a premium for turnkey homes in select locations. B. Sellers can unlock equity and still retain up to half ownership of their homes. C. Sellers can remain co-owners of their homes but will have to find the buyers themselves. 5. The professionally managed LLC also handles property management. B. False

Los Angeles and luxury real estate go hand-in-hand. And when the city’s A-list buyers want to Stars of Bravo’s long-running “Million Dollar Listing LA” reality series and co-owners of Josh and Matt worked with Zillow for years and had gotten to know Pacaso co-founder and former Zillow CEO Spencer Rascoff. They had also met Pacaso co-founder and CEO Austin Allison, and the brothers knew Rascoff and Allison were real estate innovators.  So when the Pacaso founders approached the team to discuss their new venture, the brothers were intrigued. “Knowing their track record, we were interested, because these were guys who changed the business,” said Josh. Added Matt: “Josh and I jumped at the idea. It was an incredible concept and a product that I would use.” The Altmans, always on the lookout for innovations in real estate, were among Pacaso’s early agent partners. “We like to be the first to do new things. In order to stay on top, you really have to embrace change and technology, and understand how it can work to your benefit,” said Josh. But they had plenty of questions. “When Spencer and Austin presented their business idea to us, my initial reaction was, ‘How is it different from a timeshare, how do people sell their shares, how do they get financing’ — just like any buyer hearing about it for the first time,” said Josh. “Because it’s a new company, it takes a second for clients to wrap their heads around it, but after conversations with the Pacaso team, all our questions were answered.”   After going through the sale process with Pacaso, which Josh described as “seamless,” he was convinced. “I looked at my brother and said, ‘This is going to be really big. This is going to be game changing.’” Matt said it didn’t take long for their team at The Altman Brothers to embrace the concept as well. “I explained the benefits of the Pacaso model for both the homeowner and the buyers, and the team got it very quickly.”   More importantly, the brothers have found second home shoppers to be highly receptive. “The best selling point for buyers is you don’t have to take care of the house,” said Josh. “That’s why a lot of people shy away from second homes. With Pacaso, you get the best of both worlds but for a much lower cost. My clients like it because of the ease.”   For Matt, Pacaso’s fully managed model is a huge perk for buyers. “Owning a second home isn’t easy — you have maintenance, which is an issue no matter how new the home is, you’ve got upkeep. With a Pacaso, you just walk in with your toothbrush and your clothes. It’s a great feeling with no stress. It lets you enjoy a second home like you’re supposed to.”  Being able to tap into the luxury market at a lower price point is a win for buyers, said Josh. “Pacaso has really expanded the buyer pool for second home ownership. Most of the world cannot afford a second home, but Pacaso unlocks a whole group of buyers who weren’t there before.” Matt added, “What’s so special about the Pacaso model is it enables someone to own a real second home for a fraction of the price. A typical second home is empty half the time, which doesn’t make sense financially.” And for real estate agents? Josh thinks working with Pacaso is a “no-brainer.” He said, “Not only can you sell Pacaso the house, you can then sell it up to eight times to the individual buyers. You get commission on the sale of all those shares. Pacaso looks out for the agent and makes sure they get paid what they deserve.”  Matt described it as “an incredible opportunity for agents,” pointing to one of their early success stories in Malibu. The Altman Brothers found a desirable home that seemed like a perfect fit for Pacaso. “It was a hidden gem, a small property right on the beach. As soon as it was in escrow, all eight shares sold almost immediately.” Looking to the future of second home ownership, the brothers agree Pacaso is onto something big. “Pacaso is really changing second home ownership, and I think this is just the beginning. Five years from now, people are going to own multiple second homes for one-eighth the price, and that’s a game-changer,” said Josh.  Matt said he’s considering a Pacaso for his own family. “I see Pacaso becoming a household name in the next few years. I live in LA, and this winter I thought about buying a second home in Big Bear. But I’m only going to use it a portion of the time —  I’d much rather buy a Pacaso knowing I’m only going to use it part-time, but I still have ongoing access to the home. It’s a great product.”

Beautiful American cities attract big businesses, and big businesses pay well for top talent, making metropolitan areas flush with million-dollar homes. But which cities lead the high-priced real estate pack? A 1. San Jose, CA Located in the heart of Silicon Valley, San Jose is the hotspot for 2. San Francisco, CA Just north of Silicon Valley, San Francisco has 42% of its homes valued at over $1 million. But the size of million-dollar homes in San Francisco varies widely depending on location and condition, with 700-square-foot condos in popular neighborhoods going for $1 million, and suburban homes with close to 3,000 square feet listed at the same price. The neighborhoods with the highest appreciation in San Francisco are just east of Lake Merced and bordering San Francisco State University.  3. Los Angeles, CA Are you starting to see a California trend? Los Angeles has long been known for pricey real estate, and its selection of million-dollar homes make up 19% of the market. The average size of million-dollar homes in the City of Angels is 1,720 square feet, with 92% of them built before 1999. The priciest neighborhoods include Bel Air, Brentwood, West Sunset Boulevard, and areas along the Pacific Coast Highway.  4. San Diego, CA San Diego continues the trend of expensive West Coast real estate, with 14% of the homes valued at over $1 million. Median home values in San Diego are around $665,000, with the majority of homes in the area priced between $596,000 and $894,000.  5. Seattle, WA Seattle’s 91% white-collar workforce is a contributing factor to having 11% of its homes valued at a million dollars or more. You’ll find the most expensive neighborhoods near Edgewater Park/Broadmoor, Laurelhurst, and East Roy Street at 24th Avenue East. Newer construction dominates the scene, with nearly 24% of all homes built since 2000.  6. New York, NY New York City is known for its expensive real estate, so it’s no surprise that the Big Apple made this list: 10% of homes are valued at a million dollars or more. But unlike many other urban areas in the U.S., New York’s dense population means that 95% of the city’s homes are apartments, not detached houses. One-bedroom apartments make up 39% of those units, and it’s rare to find a home with five bedrooms or more in the city.  7. Boston, MA In Boston 9% of the housing inventory is valued over $1 million. You’ll find Boston’s priciest real estate at Beacon Street near Fisher College and Boylston Street near Presidential Plaza. Boston is known for its history, and it’s not just monuments and museums — in fact, 50% of the city’s real estate was built before 1940. As a college town, Boston also has a high percentage of renters, with only 33% of homes occupied by owners. 8. Washington, D.C. Like Boston, Washington is a hotspot for American history, but with a larger inventory of newer construction homes: 34% of homes in the district were built before 1940. Million-dollar homes make up 7% of the D.C. real estate market, with Dupont Circle’s historic mansions, Georgetown and The Palisades among the city’s most expensive neighborhoods. Typical home values range from about $236,000 to $1.2 million, with no single price bracket cornering the D.C. market.  9. Miami, FL With glamorous mansions lining its waterways, million-dollar homes are part of Miami’s scenery, making up nearly 5% of the city’s homes. Miami also has some of the newest homes, with 27% of its housing constructed after 2000. Up-and-coming Miami neighborhoods include Buena Vista, City Center and Biscayne Boulevard at Miami Dade College.  10. Denver, CO The Rocky Mountain gem of Denver rounds out the list with 4% of its market consisting of million-dollar homes. Home values are pretty evenly distributed between $122,000 and $914,000, with 86% of them falling in this range. The city is also divided nearly equally between owners and renters, at 49% and 51%, respectively.

The demand for second homes is growing, but so are the barriers. With limited inventory and rising prices, many buyers are hesitant to take on the full cost and responsibility of a second property. Others worry about leaving a home unused for much of the year or managing short-term renters. That’s where co-ownership comes in. This modern approach to second-home ownership gives agents a powerful way to meet evolving client needs, earn more through commissions and grow your business in a changing market. With co-ownership, buyers purchase a share of a private, high-value home alongside a small group of other vetted owners. It’s an ideal solution for clients seeking more flexibility and accessibility than traditional second-home ownership, with greater equity and control. With Pacaso, clients benefit from a professionally managed LLC co-ownership model that offers true real estate ownership. While DIY LLC ownership has existed for years, it’s often difficult to manage. Pacaso simplifies the process by handling the management, maintenance and scheduling so your clients can enjoy their home for several weeks a year, minus the typical headaches of ownership. Co-ownership isn’t just a smart option for buyers, it’s a business-builder for agents. Whether your clients are priced out of full ownership or simply want more flexibility, co-ownership allows you to expand your reach and offer more tailored solutions. No matter where you’re based or licensed, you can refer clients to thousands of homes nationwide and in select global markets and earn a Want to take your business to the next level? Our free Co-ownership isn’t just a trend, but a smart, strategic way to meet modern buyer needs.

As you browse Pacaso listings, you may notice this repeated phrase: “The home comes fully furnished and professionally decorated.”  One standout feature of a Pacaso is the But a Pacaso is more than just a pretty face! Beyond the visible design elements, our homes are supplied with all the necessities and special touches that make an owner’s stay relaxing and easy. And for families with children or grandchildren, we've made sure our Family-Friendly Second Homes™ are equipped with all the essentials for a comfortable stay — we want you to spend less time packing and more time having fun! Here’s a peek inside the cupboards and closets of our Pacaso homes.  Dining delights Whether your idea of a dream dinner is a homemade multicourse feast or takeout by the pool, we’ve got you covered. Kitchens are stocked with all the food-prep essentials and then some, including an array of high-end pots and pans, pizza stones, mixing and measuring sets, German cutlery, and all manner of bakeware. Plus, countertop appliances like multicookers, stand mixers, blenders and more make it fast and easy to whip up your favorite treats.  When you don’t feel like cooking, you can serve fresh bakery croissants or a charcuterie assortment in style, using our sophisticated white porcelain china and Portuguese flatware.  For your morning pick-me-up, choose from Nespresso or standard brew (or use the electric kettle for a spot of tea). When winding down, our barware collection caters to nearly every preference, whether you bring along red, white, bubbly or create a custom cocktail. Bed, bath and … BBQ Beds are fitted with quality linens, luxurious duvets and assorted pillows. Bathrooms are stocked with plenty of towels, hair dryers, a scale and magnifying mirror, and basic toiletries like shampoo, conditioner, body wash and soap.  For homes with outdoor entertaining spaces, you’ll find gas barbecues, fire pits, outdoor drinkware and dinnerware and patio furniture. If the home has a pool, we even supply floaties for added fun, while Work and play If you need to catch up on work during your stay, you can count on high-speed internet throughout the home, a charging station and, in many homes, a dedicated work space. Once you’ve logged off for the day, sit down with the family to enjoy one of the provided games, like Jenga, backgammon or cards. If you’re looking for more modern forms of entertainment, never fear — all Pacasos have smart TVs and streaming services so you can catch a show, tune into your favorite sporting event or keep the kiddos entertained while you enjoy a quiet moment watching the sunset with a glass of wine. Speaking of little ones, our Family-Friendly Second Homes are equipped with kid-friendly dinnerware and cutlery, a high chair, booster seat and Pack ‘n Play. And homes in beachfront and warm climates come equipped with beach chairs and pool floaties for bonus fun in or by the water. Household necessities Need to clean up some spilled spaghetti sauce? Or change a light bulb in the hall? While we focus on luxury living, we’ve also prepared our homes for those less-than-glamorous aspects of daily life. Mops, brooms, cleaning supplies, extra light bulbs and batteries, an iron and steamer, and even a mini-toolkit are provided to ensure you have what you need, when you need it, to handle the little details of your stay.  See the full list of

More people are buying second homes than ever before. Although the pandemic-induced buying frenzy slowed in 2021, second homes purchases remain historically high. In popular vacation destinations across the country, demand continues to rise, as do prices, with nearly all top markets seeing To determine the “We know that the pandemic fueled a major surge in second home buying demand, and that national demand peaked in the Rural southeast counties had highest rates of growth In addition to revealing the top second home market in every state, the analysis also highlights the percentage of growth each market has seen over the past year. Perhaps surprisingly, Top 10 markets with biggest increases in share of second home rate locks in 2021 High-priced markets more likely to see declines in rate locks Some markets, despite their popularity, experienced significant declines in their share of second home sales. Dukes County, which includes Martha’s Vineyard and 10 other islands off the southeast coast of Massachusetts, is the top second home market in that state. Still, it saw the biggest year-over-year decline in second home share among all top 50 markets that made the list, down 19.4% from last year. With an average second home price of $1.6 million, Dukes County is also one of the most expensive markets.  Price increases and limited inventory may have contributed to the annual decrease, as well as the emergence of other, more affordable markets with more inventory. Teton County, Wyoming — home to the popular Jackson Hole ski resort — has the highest average second home sale price of all the markets on the list: $3.4 million. It also saw a moderate dip in the share of second home mortgage rate locks, down 7.9% from last year.  Find your second home with Pacaso With prices and demand for second homes continuing to rise in many areas, co-ownership offers a more accessible, simpler option for would-be buyers. Pacaso has co-ownership listings in destinations across the U.S. and in Spain, and is rapidly expanding to new markets. Methodology Pacaso identified the top second home market per state by selecting the county with the highest total percentage of second home mortgage rate locks between January 1 and October 13, 2021, in each state. Counties without at least 50 second home transactions in the period were excluded from the analysis.  Mortgage rate lock data is an indicator of second home buying activity. When applying for a mortgage rate lock, a home buyer must specify whether they are securing a mortgage rate for a primary home, secondary home or an investment property. Approximately 80% of mortgage rate locks result in home purchases. Mortgage rate lock data was provided by real estate analytics firm Optimal Blue and includes a sizable share of the market that is taken to be representative of the whole. Second home mortgage rate lock transactions and average second home purchase price data were sourced at the county level. 

According to second home mortgage rate lock data analyzed by Pacaso’s research team, sales of luxury second homes and “Overall, luxury real estate exceeded expectations and outperformed the rest of the second home category and the overall real estate market in Q2 2022,” said Pacaso Co-Founder and CEO Austin Allison. “Despite a rising interest rate environment and growing concerns of a recession, it is clear that demand for this type of asset remains strong.”   The last two years, particularly during the peak of the pandemic, the housing market experienced record growth. Home price appreciation seemingly peaked in April of 2022, when it was up 21% nationwide. Today, the market is beginning to normalize from those unprecedented levels. In May, home prices decelerated for the first time in five months, but were up double digits year-over-year for the 16th consecutive month. The deceleration was partially driven by rising interest rates, an uncertain economy and geopolitical unrest in the Ukraine. Contrary to some headlines, many economists believe that the housing market will continue to grow through 2022, albeit not at the same pace as 2020 and 2021. The current volatility in the stock market has impacted many consumers’ overall net worth in recent months. This in turn drives many to look to more stable asset classes, such as real estate. “Affluent consumers tend to be more insulated from the impacts of an economic downturn,” continued Allison. “Some consumers will look to real estate as a more stable place to park their money during times of increased market volatility. Although they may trim their budgets, this group is less likely to completely drop out of the market. As a result, demand for luxury real estate remains strong, but the acceleration of home price appreciation for this category will likely continue to slow as we saw during Q2 2022.”  While interest rates are rising compared to record low rates during the pandemic, the housing market is still experiencing very healthy demand, particularly in the luxury second home segment. Thirty-year fixed rates rose above 5% in April for the first time in more than a decade. In the second week of June, interest rates rose by 55 basis points, which was the largest one-week increase since 1987. However, for the past 50 years, 30-year fixed mortgage rates have averaged approximately 8%, even crossing above a staggering 18% in the early 1980s. With rates averaging around 5% today, they are still relatively low comparatively. It is important to note that the total share of second home mortgage rate locks was 2.7% in Q2 2022, dropping below the pre-pandemic national average of 3.5% (based on second home mortgage rate locks between 2015-2019). The luxury category makes up approximately 12% of all second home mortgage rate locks. The median price for all second home mortgage rate locks during Q2 2022 was $435,000, which was up 19% year-over-year. Looking specifically at the luxury category, the median price was approximately $1.4 million, which remained relatively flat on a year-over-year basis. However, when it comes to second homes, more than 50% of buyers pay in all cash*. For this reason, looking simply at second home mortgage rate lock data is not the best indicator of true second home sales in the U.S. The median-to-lower end of the housing market, which makes up approximately 88% of all second home mortgage rate locks is being hit particularly hard, thus driving down total second home mortgage rate lock growth on a year-over-basis. In fact, numerous discount brokerages and mortgage companies are reportedly laying off agents in mass due to decreasing demand for median to lower priced homes.  Second home buyers were focused on locally-relevant destinations that feature outdoor attractions, many located along waterfronts, as the peak summer travel season approached.  “For the past two years, premier second home destinations like Aspen, Malibu and Tahoe experienced strong buyer demand,” said Allison. “As inventories were constrained and prices accelerated in those markets, buyers began looking to more locally-relevant destinations for their second home. In those markets, buyers can get a lot more for their money without sacrificing on the quality of their home or proximity to outdoor activities.” Coeur d’Alene, ID and Williamson County, TN experienced the largest year-over-year increase in the median purchase price for luxury second homes of 52% and 42%, respectively. These destinations offer a wealth of outdoor activities, such as hiking, mountain biking, and fishing, making them optimal second home destinations. Situated along Washington’s Puget Sound, Kitsap County, WA, which boasts miles of beautiful shoreline, golf courses, water activities, and boat excursions, saw the median price of luxury second homes increase 39% year-over-year. Cape Cod, MA experienced the largest increase in second home rate lock transactions during Q2 2022 (+236% year-over-year). Located just south of Boston, Cape Cod offers a wealth of outdoor activities, pristine beaches, five star restaurants and some of the best mini golf courses in the nation for family-friendly fun. Beachfront counties dominated the top ten list of destinations by transaction count, including  St. Johns County, FL which saw a 220% increase. Sevier County, TN, which is known as the gateway to the Great Smoky Mountains National Park, and Clark County, NV, home to The Last Vegas Strip, also experienced strong growth in second home rate locks, up 147% and 108%, respectively. Pacaso identified the nation’s top second home markets by compiling census data on counties with a percentage of seasonal homes and median home values at or above the top 20th percentile, and by excluding those below the bottom 10th percentile of counties with the fewest households. Pacaso then analyzed real estate activity in the top second home markets by observing mortgage rate lock data, a leading indicator of second home buying activity. When applying for a mortgage rate lock, a home buyer must specify whether they are securing a mortgage rate for a primary home, secondary home or an investment property. Approximately 80% of mortgage rate locks result in home purchases. Mortgage rate lock data was provided by real estate analytics firm Optimal Blue and includes a sizable share of the market that is taken to be representative of the whole. For this analysis Pacaso’s research team looked at mortgage rate lock volume for both second homes and investment properties for Q2 2022 with a purchase price of greater than $1 million to focus on the luxury end of the second home and investment property category. Rate lock transactions and median purchase price data were sourced at the county level for counties that had a minimum of 5 second home transactions and aggregated quarterly, with Q2 representing the months of April through June 2022. * National Association of REALTORS®, June 2021

Many second home buyers are wary of high costs and ongoing maintenance, and worry they won’t have enough time to use their home. Pacaso is the best solution, according to San Francisco-based luxury real estate broker Roh Habibi of Sotheby’s International Realty. “Every complaint that I’ve gotten from my clients that own second and third homes in all these destinations — Pacaso has solved it,” said Roh, describing how Pacaso makes it easy for buyers to enjoy their second home. Plus, Pacaso handles the legwork, including tours, inspections and escrow. “For me as an agent, the Pacaso transactions are the easiest I will do all year.” Watch the video to learn more about co-ownership and the benefits of working with Pacaso, from easy in-person or virtual touring with clients to a generous and fast commission structure for agents.