Pacaso vs. timeshare: What sets us apart

It seems almost too good to be true: Own a piece of vacation heaven, a guaranteed yearly getaway, at what appears to be a pretty affordable price. But when you take a closer look at timeshares, you may uncover a slew of How do timeshares work? The success of the That’s great for the timeshare industry, but what exactly does it cost potential owners?  How much do timeshares cost? The first cost of a timeshare is time itself. Timeshares are usually sold to customers when they are already visiting a resort. Lulled by sunny skies and gentle breezes, would-be-buyers are often lured into extensive sales pitches with the promise of free goods or services.  After all is said and sold, if someone decides to purchase a Locked into a specific timeframe of use — often just one week a year — buyers are also locked into maintenance fees, which can exceed $1,000 annually and tend to increase year over year. When you do the math, it’s not uncommon for the total nightly cost at a timeshare to be higher than an equivalent area hotel. What is a timeshare worth?  Timeshares are a bit like boats: The second you decide to purchase one, it starts to decrease in value. What’s more, if a buyer eventually decides to What else do you need to know about how timeshares work? Why Pacaso is a better than a timeshare One of the main reasons people choose a timeshare over another type of getaway — setting aside the heavy-handed sales pitch — is cost. The price seems like a bargain compared to a whole home purchase, which many buyers believe to be An alternative? Professionally managed What Pacaso offers With Pacaso, you enjoy the FAQs

Thinking about a second home, but hesitating because of the math, the upkeep, and the “is co-ownership worth it?” questions?  With fluctuating interest rates, rising insurance and maintenance costs, and the general hassle of owning a property far from your primary residence, The catch is that a lot of people are still evaluating co-ownership through old, misleading mental models: random strangers, timeshare rules, rigid weeks, complicated logistics, and messy exits. That’s not how modern co-ownership works, and it’s definitely not Myth #1: “Co-ownership means sharing your homes with random people.” This isn’t an open-door situation; it’s a limited set of co-owners who each have a real stake in the property. And because everyone owns, the incentives are aligned: owners treat the home like an asset and a retreat, not a revolving rental. Want to see what that looks like in real life? Myth #2: “This is basically a nice timeshare.” The comparison between With Pacaso, each co-owner holds a When it comes time to sell, owners can list their interest on the open market rather than being limited to selling back to a resort company at unfavorable buyback terms. There are no points systems, no resort affiliations, and no sprawling fee structures disconnected from the actual costs of running that specific home. The proof is in the structure itself, and any prospective buyer who wants to understand the legal and practical distinctions in detail is welcome to walk through them with our team. Myth #3: “You’re stuck with fixed weeks every year.” Pacaso is built for real life — plans change, calendars shift, and flexibility matters. Owners use our proprietary Myth #4: “Home management sounds difficult with multiple owners.” You show up to a well-kept, ready-to-enjoy home. When you leave, you’re not stuck coordinating vendors, troubleshooting issues, or worrying about whether the place is being cared for properly. Part of what makes that possible is thoughtful design. Pacaso's co-ownership model is built for people who want the experience of a second home without the complexity of managing shared relationships directly. Most owners choose Pacaso precisely because they value privacy and prefer not to coordinate with co-owners on day-to-day matters, and the model is structured to make that the default. That said, hands-off doesn't mean left out. While Pacaso handles the day-to-day so owners never have to, the decisions that genuinely matter require owner input. Major choices go to a vote, with approval thresholds that scale with the significance of the decision, from a simple majority to unanimous consent.  On the financial side, owners review and must approve the annual budget before it takes effect. It's a structure designed to give owners exactly the right level of involvement: none of the operational headaches, and all of the meaningful control. Myth #5: “Co-ownership can be messy. What happens when someone wants out?” Selling is straightforward. Owners list their shares directly through Pacaso's marketplace, where we provide pricing guidance based on current market conditions; though each owner ultimately sets their own price, just as they would in a traditional real estate transaction.  Pacaso acts as the listing agent, supporting the process and connecting sellers with qualified buyers. When multiple shares in the same home are listed simultaneously, pricing can vary by owner. Buyers have full transparency into all available shares and can choose based on price or preferred calendar availability, so outcomes are driven by a combination of pricing, timing, and buyer demand. The numbers tell a compelling story. Across several hundred resales since inception, Pacaso shares have averaged 99 days on market, a meaningful advantage when you consider that luxury homes in the $5–10M range (the tier most comparable to Pacaso's portfolio) typically take 120–200+ days to sell, with significant variation by market.  Research from the Concierge Auctions 2025 Luxury Home Index found that ultra-luxury homes take roughly four times longer to sell than the average home, and that properties sitting beyond 180 days tend to close at around 20% below their original listing price.  Pacaso shares, by contrast, have averaged 6% price appreciation at resale, with 73% of all completed resales closing above the original purchase price.  That said, Pacaso markets its properties as luxury second homes, not investment vehicles, and we are deliberate about that distinction. Real estate values fluctuate, and we don't represent otherwise. The primary value of co-ownership is access to a high-quality property at a fraction of the cost of sole ownership, and we encourage buyers to conduct their own due diligence and consult independent advisors when evaluating a purchase. So, is Pacaso worth it? How Pacaso simplifies co-ownership Pacaso owners get the second-home lifestyle without the traditional second-home hassle. Instead of “booking weeks” or rolling the dice on vacation rentals, they build real ownership in a luxury home, alongside a small group of co-owners and a scheduling system designed for flexibility. Unlike Our focus has been on improving the fundamentals of the business: driving more efficient sales, maintaining disciplined inventory levels, and expanding our resale marketplace to enhance liquidity and long-term owner value.  We continue to see strong demand across both domestic and international markets, and we're scaling in a way that balances growth with financial discipline. As a Regulation A reporting company, we provide detailed financials through our public filings, and we're committed to ensuring all investors have equal access to information. If you want a place that feels like yours (because it is), with the freedom to use it throughout the year and the confidence that everything is taken care of, co-ownership through Pacaso is the easiest path. If you’re ready to take the smarter path to second-home ownership,

For anyone seriously considering a These are the right questions to ask. In most shared-ownership arrangements, especially older Pacaso designed its scheduling system specifically to solve this. It's called SmartStay™ lives inside the Pacaso app, so owners book stays the way they already book travel. No phone calls, no emails to a property manager, no negotiating with other owners. An owner opens the app, sees what's available, and books the dates they want. The calendar updates in real time. That transparency, where everyone sees the same calendar under the same rules, is what makes shared scheduling work in practice. It removes the guesswork and the awkwardness of having to coordinate directly with people you may barely know. SmartStay™ offers two types of stays, and both appear in the same calendar under the same transparent rules: On average, one-eighth share owners stay at their homes about six to seven times per year, for roughly a week at a time. For more on how shares and ownership work, see SmartStay™ opens bookings on a rolling 24-month window. That timeline matters. It gives Pacaso owners an opportunity to think ahead, to plan around school calendars, extended-family trips, international travel, or milestone celebrations, without gambling on last-minute availability. A second home works best when it fits neatly into real life, and a two-year planning horizon makes that possible. Peak season is where most co-ownership models break down. At Pacaso, high-demand dates (major holidays, school breaks, local event weekends) are handled through SmartStay™'s built-in peak-season logic. Each owner is guaranteed one special date holiday per share. SmartStay™ then ensures every owner has the chance to book at least one peak-season stay before any one owner can book a second. That means the most desirable dates aren't fully booked by just one or two co-owners. It's a structural fix, not a hope-for-the-best policy. If you don't get your first choice of a special date in a given year, the rolling 24-month calendar gives you the opportunity to request that date in the future. Plans change. Sometimes the best weekend of the month reveals itself on a Thursday. SmartStay™ allows owners to book short-notice stays as little as two days in advance, whenever the home is open, with no penalty and no extra complexity. That flexibility, on both ends of the planning horizon, is a defining difference between modern co-ownership and the rigid calendar systems that came before it. Pacaso limits the number of co-owners to a maximum of eight, and owners use their home in proportion to their ownership share. With a smaller, diversified group of co-owners, people naturally gravitate toward different date preferences. SmartStay™ then layers in peak-season fairness on top of that, so the most desirable dates are spread across the group rather than dominated by one or two owners. Timeshares often rely on fixed weeks, draft processes, or priority rankings to assign a single stay each year, usually in a hotel room or condo. Pacaso's scheduling is responsive and real-time, lets owners enjoy their home multiple times throughout the year in a fully owned luxury property, and shows availability the moment it opens up. For a deeper look at the structural differences, see For Pacaso owners, scheduling isn't just a feature. It's the mechanism that makes shared ownership feel like ownership. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a Scheduling is usually the invisible make-or-break piece of co-ownership. Pacaso built SmartStay™ to make that piece visible, fair, and flexible, so that the most important decisions about a second home are about when to pack the car and go, not about logistics. If co-ownership sounds like it might fit your travel and family schedule, start by Have more scheduling questions? You can also browse Pacaso's full

Communities across the U.S. are experiencing troubling housing inventory shortages, and this problem has only intensified over the past year — particularly in second home communities. Buyer This supply and demand imbalance is understandably frustrating for local residents in search of affordable, moderately priced homes. It also creates a challenge for aspiring second home buyers hoping to unlock the dream of second home ownership and secure a higher-end home in these desirable communities.  Enter Pacaso.  Pacaso launched in October 2020 with a mission to make second home ownership possible for more people. Our fully managed co-ownership model is helping a broader pool of aspiring second home buyers purchase real estate in a second home community for ⅛ the price and enjoy the home throughout the year.  Because a fully managed co-ownership model is new to many people, we often encounter questions and misconceptions from neighbors and local community members about the potential impacts to their community.  To shed light on these misperceptions, here are common myths about Pacaso — and the reality behind our model and owners. Myth: Pacaso is a timeshare While Pacaso’s fully managed co-ownership service is new, “DIY” co-ownership is not. It’s common for groups of friends or family members to buy a second home together. While feasible, self-organized co-ownership can be a hassle to set up and manage on an ongoing basis. Myth: Pacaso will drive up home prices and take away homes needed by the local workforce Pacaso helps preserve affordable and middle-tier inventory by enabling eight aspiring buyers to instead co-own a single second home. Now, instead of applying their original budget to a lower priced whole home, Pacaso buyers can co-own a home at a higher price point. This redirects buyers toward luxury, above-median homes and consolidates buyer demand. Said another way, each Pacaso home removes eight second home buyers from the market as active shoppers. This reduces overall competition in the market, creating opportunities for local buyers shopping in for moderately priced homes. Austin Allison, Pacaso co-founder and CEO, explains Pacaso's positive impact on local housing markets. Myth: Pacaso’s math doesn’t make sense — cumulative shares add up to more than the whole home price Myth: Pacaso owners will negatively impact my local community Pacaso also supports greater diversity in the community by lowering the barriers to second home ownership. We’re proud that 25% of Pacaso’s owners are nonwhite or identify as LGBTQ+, and many owners are families who are now able to enjoy second home ownership for the first time. Myth: A Pacaso in my neighborhood will be disruptive   Myth:  Pacaso homes are the same as short-term rentals Community perspectives Here’s what local community members are saying about Pacaso’s positive impacts:  — — — —

On paper, timeshares seem like the perfect middle ground between a cramped hotel and a vacation home. But the reality is that most timeshares are marketed as investments when they are actually depreciating travel expenses. If you’re looking for a return on your money or an easy exit strategy, a timeshare is rarely worth it. However, if you are strictly looking to prepay for resort access and have no interest in equity, it might be worth it. Below, we break down the pros and cons of timeshares and why Pacaso co-ownership is a better What are timeshares? Timeshare agreements can be arranged in two ways: Depending on your arrangement, you may have set dates to use the property each year, such as the first week of February. Or you can have floating time, where each year you choose a different week to vacation there. Some timeshares give owners points that can be used throughout the year to “purchase” time at a property. Timeshare pros and cons  While timeshare resorts provide a designated vacation destination with Here are some pros and cons of owning a timeshare. If you’re looking at the secondary market (reselling a timeshare from an existing owner rather than buying from a developer), the news isn't great. Recent Are timeshares worth it?  Deciding if a timeshare is worth it depends on whether you view it as a lifestyle choice rather than an investment. For some, the appeal is convenience, having a reliable place to return to each year, a set vacation schedule, and access to a network of resorts without the hassle of planning from scratch. A timeshare may be worth it for someone who values consistency, prepaid accommodations, and familiar destinations, and who isn’t concerned with building equity or resale value. However, for most travelers, vacations are still an ongoing expense rather than an asset, and the long-term costs and limited flexibility can outweigh the benefits. Before committing to a timeshare, evaluate these five factors: A better timeshare alternative If you want the consistency of a second home without the resale trap of a timeshare, Choose Pacaso over timeshares  So are timeshares worth it? The answer is rarely, given other alternatives that provide greater flexibility and potential return on investment. Before committing to a timeshare, browse

You’ve decided it’s time for a second home — a private retreat where you can escape, recharge, and make memories with loved ones. But traditional ownership can be overwhelming, with high costs, maintenance, and scheduling challenges. Short-term rentals are often impersonal, and timeshares can feel restrictive. So, how does Pacaso work? Pacaso reimagines second-home ownership through fully managed What is Pacaso? Pacaso, Each Pacaso home is held in a How does Pacaso work? Owning a second home can be expensive and stressful, with unpredictable maintenance and scheduling conflicts. Pacaso simplifies the process by combining true property ownership with Here’s how Pacaso co-ownership works at a glance: One of the most common questions prospective co-owners ask is: what exactly am I paying each month? The short answer is that Pacaso monthly fees cover everything it takes to maintain a luxury second home at the standard you'd expect, and then some.  There are no mystery line items, no surprise invoices. Just a clear, shared cost structure designed to make ownership as effortless as it is worthwhile. Pacaso budgets for each home's operating expenses annually, then breaks the total into 12 monthly payments. Costs are shared among co-owners on a pro rata basis, meaning you pay only for the share you own. Those payments are deposited directly into the property's LLC account, and Pacaso uses the funds to cover expenses as they arise. Every budget is fully customized for the property and grounded in actual spend, not estimates pulled from thin air. Each budget is reviewed and approved by the homeowners themselves before taking effect, so it always reflects the true cost of maintaining the home. And every quarter, expenses are reconciled. If a home comes in under budget, owners receive credits back. Pacaso monthly fees typically cover: Like any real estate market, operating costs for luxury second homes have evolved. Since 2021, the broader cost of owning and operating a second home in the markets where Pacaso operates has risen roughly 40–50% on average, driven by inflation and rising costs for insurance, labor, and services, particularly in high-demand destinations where skilled vendors are harder to source for large luxury properties.  Across the Pacaso portfolio, actual operating expense increases have tracked closer to 30% over that same period, generally in line with, but slightly below, broader market trends. The biggest individual drivers have been rising insurance premiums and property taxes. Insurance in particular has seen steep increases over the past five years, especially in states like California, Florida, and Colorado, where many Pacaso homes are located.  Carriers have exited markets, reduced coverage, and raised premiums across the board for residential properties, a well-documented industry-wide trend that has affected second-home owners everywhere, not just Pacaso co-owners. That said, Pacaso's property insurance costs have stayed essentially flat in the most recent renewals, even against the backdrop of significant industry losses, including those from the Malibu wildfires. This is a direct result of the strength of the Pacaso portfolio and the disciplined way homes are managed. As Pacaso's track record as a proven property manager has grown, that reputation has been reflected in more competitive coverage and pricing. Pacaso owners were already paying market-rate property management costs from day one. What has changed over time is not the total cost of managing a home, but where those fees go.  In Pacaso's early years, management was handled by third-party vendors whose rates varied and increased annually. As Pacaso scaled, it built an in-house property management team covering property management, accounting, legal support, and full home and vendor coordination, replacing those external providers with a consistent, comprehensive service. During the transition, Pacaso's internal fee was kept intentionally low and has since been gradually brought in line with market rates: approximately 20% from 2022–2023, 8% from 2023–2024, and 14% from 2024–2025. These adjustments represent a reallocation of existing costs from variable third-party vendors to Pacaso at consistent, market-rate pricing, not a net increase in what it costs to run your home. Now that the portfolio is fully transitioned, Pacaso has not raised property management fee tiers over the past two years, and the goal going forward is stable, predictable pricing, a meaningful improvement over the variable annual increases owners experienced under third-party management. Monthly owner expenses may be adjusted to reflect real changes in home costs, whether insurance, taxes, or other market-driven increases. When adjustments are necessary, they are communicated proactively, with backup documentation available upon request. Because the budget process requires owner approval on an annual basis, owners see and vote on cost changes directly. There are no surprises hidden in the fine print. Owners also have meaningful input into the significant decisions affecting their home. While Pacaso handles day-to-day property management on behalf of the LLC, major decisions require a vote of the owners, with thresholds that vary depending on the nature of the decision, ranging from a simple majority to unanimous consent.  On the financial side, Pacaso prepares a proposed annual budget and presents it to owners for review, and that budget must be approved by a majority of ownership interests before it takes effect. Owners aren't involved in routine operational matters, which is by design since that's much of the value Pacaso provides, but they retain real governance rights over the decisions that matter most. It's the kind of financial clarity and owner control that's rare in traditional second-home ownership, and one of the reasons co-owning with Pacaso simply makes sense. What makes Pacaso homes special? Pacaso homes are intentionally designed to feel like true retreats — not just places to stay, but places you genuinely look forward to returning to. Every detail is thoughtfully curated to deliver a consistent, high-end ownership experience across locations. Together, these elements create a second-home experience that is polished, predictable, and easy, so owners can focus on enjoying their time rather than managing the property. How do Pacaso alternatives compare? Many buyers unfamiliar with the Pacaso business model ask the same question: is Pacaso a timeshare? The short answer is no. But to fully understand how the Pacaso business model works, it helps to compare it to the most common second-home options available today. By combining true property ownership with professional management, flexible access, and financial transparency, Pacaso homes offer a modern, stress-free alternative to traditional second-home models — without the limitations of rentals or timeshares. Why is Pacaso the smart way to buy a second home? If you’re wondering, “how does Pacaso work for second home buyers?” The answer lies in its modern approach to luxury second-home ownership — one that blends the rewards of owning a vacation home with professional management, flexibility, and peace of mind. Rather than purchasing a second home on your own, Pacaso allows buyers to co-own a luxury property, sharing costs and responsibilities while still enjoying true, deeded ownership. Being a Pacaso owner is about more than just time in a house — it’s about enjoying a vacation home without the work. Owners benefit from: Owning a Pacaso share isn’t just about a property — it’s about creating a personal getaway filled with memories, comfort, and freedom.