About Holiday Home Sharing
If you are interested in sharing a holiday home, click here to read the free Co-Ownership of a Property Factsheet, also known as fractional ownership, which provides further information and guidance.
There are a number of reasons why people might want to share the ownership of a holiday home with someone else, but the following are likely to be the most common:
- Financial reasons – Sharing the ownership of a property with others will help to save money for all of the owners and can thus make purchasing and owning a second home more affordable. Purchasing a holiday home with others will require each to compromise on their requirements and preferences such as the location and size of the property. However, the benefit is that each owner’s share of the purchase price, mortgage repayments and bills will be considerably lower than if they purchased their second home on their own.
- Convenience – The advantage of owning a holiday home is that you can always be sure that when you go to stay at the property you will be in a location that you like, and you know the facilities and amenities available. The additional benefit of sharing ownership of such a property is that you can share the responsibility of any administrative tasks with the other owners.
- Social Reasons – The owners of the holiday home may choose to go away together to the property, and this can be an excellent arrangement especially if the owners have children who can play together.
For people interested in sharing their holiday home, we provide the following agreement:
- For use when sharing ownership of a holiday home with one or more other people
- Intended for use when the shared owners will use the property for holidays only, and not as their permanent residence
To buy the agreement or to find out more about its content and application, click on the link above.