Our concept reaches beyond the border
“Why buy a holiday home when you only use it for a few weeks a year? It would be smarter more sustainabl and economicaly better to share your holiday homes with others”. That’s what the major German magazine BELLEVUE writes in an article where MyHomes is recognized as one of today’s most popular co-owned holiday home concepts.
The article highlights key points to consider when planing to buy a holiday home, one of which is the sky-high prices in attractive destinations. The dream of owning a property with a ocean-view or in a popular mountain area is financially unattainable for most people. And if you can afford it, the article questions whether you can make the most of it.
Quote from the article:
“Even if an owner spends three wonderful months in their holiday home – the house would still be empty 40 weeks a year.”
MORE THAN A GOOD INVESTMENT
A concept like MyHomes contains, besides the obvious economic benefit of sharing the expenses of buying a home, an essential sustainable idea. It makes perfect sense to use the homes for several weeks a year and thus avoid periods where the house is empty. In addition to co-owning the homes, you also share the items that go with it, such as bikes, scooters, TV’s, etc.
The residences are purchased and developed as functional and suitable homes for a modern family. They are professionally and esthetically decorated giving the homes a homey and stylish vibe. The value of the co-owned property therefore increases even before the owners have moved into their new homes, and you can therefore expect a profitable investment when selling your co-ownership in the future.
As you can read in the article (if you’re German-literate), Bellevue speaks highly of co-owned holiday homes – and rightly so. We are seeing a steady increase in interest in our co-owned homes koncept and have no doubt that this will be the future of holiday home ownership.
The article concludes by asking some open and slightly critical questions that you might want to consider if you want to buy a share in a co-owned housing concept. We would like to answer these questions:
Q: What happens if the provider (MyHomes) goes bankrupt?
A: MyHomes is not involved in the finances of the co-owner associations or in the ownership of the homes. Therefore, the consequence would simply be that the associations would have to find another administrator.
Q: What do I do if I want to sell my share?
A: You can let MyHomes help with the process, or find a buyer yourself. In both cases, MyHomes will take care of all the administrative work involved in selling your part of the co-owned homes. As your co-owned share is desiable on the maket, selling is fast and the result is profitable for the seller.
Q: What happens if an owner does not pay his/her dues?
A: This risk is hedged by requiring all owners to pay 12 months’ deposit of the common contribution when they enter an ownership. Furthermore, should an owner fail to meet his obligations, the contract provides an opportunity of compulsory sale.
The article concludes:
“The co-owning concept is a very reasonable idea – not only for car-sharing, but also for holiday homes”
WILKOMMEN, WELCOME, BIENVENUE
We are pleased that our concept has reached beyond the borders and receives attention from abroad. We welcome all those who want to become owners of a MyHomes association. You can read more about our concept, accommodation and locations on our website.