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Is it possible to buy a property with a group of friends?

Acquiring a property is a really important step in anyone’s life, so it is valid to consider buying in a group and not on your own.

By Ancana, November 7, 2022

Acquiring a property is a really important step in anyone’s life, so it is valid to consider buying in a group and not on your own.

Considering the rise in housing prices, inflation and the lack of supply, it can be assumed that when it comes to acquiring a property it can become a real challenge, since many dream of owning a house, either Whether it is a primary residence or a vacation home, however, the complications of today’s industry make this dream somewhat elusive.

However, this dream becomes much closer when you evaluate the different possibilities that are on the table to acquire a property not only on your own, but also considering your friends and/or family. In a few words, it is possible to acquire a property between a group of people/friends/relatives.

This is when we can begin to consider one of the most interesting options: the acquisition of properties by fractions. This innovative scheme of the real estate industry allows you to buy a property between several people, so obviously the expenses are considerably reduced, since these are divided among the co-owners and it becomes less of a burden for you.

The big question that still concerns us is: how complicated is it to do the process between co-owners?

What should be considered?

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In the first instance, you must determine well with whom you will be investing in this new property, that is: define financial objectives that are very well aligned. And once these objectives are defined, the search for the ideal property for both parties can formally begin.

This is where we recommend you to do this search through Ancana, the marketplace to buy fully managed vacation homes through a fractional scheme. At Ancana we offer the best vacation homes, we handle the legal process to divide the house into fractions through a trust and manage the property.

The fractional scheme works like any traditional property sale, each co-owner is the owner of a proportional part of the property and has the right to use certain weeks of the year (this depends on the number of fractions purchased). Operation and maintenance expenses are divided among the co-owners and are paid monthly.

About maintenance and property management

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One of the advantages of acquiring a property of co-owners through Ancana is that instead of taking care of 100% of property taxes, insurance, maintenance, maintenance and general expenses; Acquiring your residence from co-owners in a fractional scheme allows you to divide these expenses with the other owners, which means that you will only pay a fraction of the cost. At Ancana we manage the expenses and they are divided among the co-owners according to the size of their fraction.

In addition to the fact that in Ancana we take care of the administration, maintenance and continuous cleaning of your property, so you would only worry about scheduling the dates in which you would like to enjoy your vacation home, arrive at your destination and enjoy a spectacular vacation. We guarantee a turnkey experience for all co-owners without having to deal with all the headaches that managing a long-distance property can entail if you were to purchase it on your own.

If you would like to know all the benefits of buying your own vacation home with Ancana, click here.

Find now the vacation home of your dreams and buy it in a fractional scheme with your friends!

Owning a vacation home has never been this easy.

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Ancana Living © 2023

Ancana Living © 2023