| A lifetime of luxury for a fraction of the cost |
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Shared Equity is not new. It has been around for many years but mainly associated with the purchase off the ultimate in luxury, Private yachts and Jet Aircraft, but now we are able to extend this luxury to a dream home in the sun. The concept of Shared Equity in property is now gaining momentum as real estate prices escalate and consumers seek a steppingstone to the perfect holiday home in the sun. Many outright owners tend only to use their property for 4-12 weeks per year, yet still have to bear the costs attached to 52 weeks. You can choose to either block book an entire 3 months season, or divide your occupancy equally over the calendar year, so that you can benefit from all seasons and guarantee that your chosen plan will always include all the school holidays !Shared Equity gives you a “bricks and mortar” investment, by owning a share (3 months) of the freehold you benefit directly from owning a luxury property in an excellent location. The estimated annual charges will depend on the size of the property you purchase. Running costs, all associated taxes, notary and registration fees are shared equally between the shareholder owners. The property will have an independent administrator, who will set up rules and regulations along with running costs, these will be detailed on the contract to be signed by each owner, you will be able to start using your property immediately and will be able to exchange contact details with your co-owners. Being able to sell at any time and rent your unused time to make a profit, all aspects are covered making Shared Equity the perfect solution for many . Yearly fee: Aprox € 1.000 divided by 4 (Full ownership is aprox € 84 Monthly) I ncludes: Administration fee, Property Insurance, Community fee, Electricity & water,Reserve Emergency fund, Monthly deep clean, IBI tax (rates)We think with this you have a good idea of how the system works. It is a lot cheaper than freehold but you have the same (and even more) advantages. If you need a personal loan we can help you with that as well, you cannot have a mortgage because you are buying shares in a company and not a freehold property as you only own 3 months. Your investment plan in shared equity is covered as follows:
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