Does it really make sense to own and maintain a luxury property if you will only be using it for only a few weeks, or even days, out of a year?
This was one of the topics brought up in Betty’s Real Estate Corner that featured Sakamoto Properties’ agent Dean Otto.
The latest positive flair rising in luxury real estate, is the option to own half of an estate.
A great way to look at it as featured in Co-Ownership Solutions, is the concept of owning “a $5M home with a $2.5M debt and you sell a 50% interest for $2.5M. You are now debt free and are responsible for half the cost of carrying the property moving forward. You can now be more patient selling the remaining 50% interest, if you choose to sell it at all.” This in turn allows the buyer to purchase a $5M home for $2.5M, that requires only half of the cost to maintain.
This unique way of share-owning a property requires profiling that allows you to be paired with a compatible co-owner. All legalities are also covered and there is a variety of options for property management.
If you happen to be looking for that opulent Maui luxury home in Kaanapali or Kapalua, contact Sakamoto Properties. They can help pair you with an agent that suits your needs. Contact Dean Otto to learn more about Co-Ownership Solutions on Maui.